Updated Two-Unit
For Sale
$274,900
531 W Webster Avenue, Muskegon, MI 49440
Multi Family, Muskegon, MI
Property Size2,100 SF
Lot Size0.10 Acres
Price / SF$130.90
Days on Market26
Property Features for 531 W Webster Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
R-1
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Bedroom 4, Bedroom 3, Bedroom 5, Bedroom 2, Bedroom 1, Basement
Parking
4
Basement
Partial
Lot features
Sidewalk
Elementary school district
Muskegon
Middle school district
Muskegon
High school district
Muskegon
Directions
Seaway Dr to 8th St left, to Webster Ave right, parking in rear
Standard status
Active
APN
24-205-338-0005-10
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
CITY OF MUSKEGON REVISED PLAT OF 1903 E 1/2 LOT 5 BLK 338
Tax Annual Amount
1342
Legal Description
CITY OF MUSKEGON REVISED PLAT OF 1903 E 1/2 LOT 5 BLK 338
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1800
Number of units
2
Building materials
Vinyl Siding, Wood Siding
Roof type
Composition
Listing Agency:
Bellabay Realty LLC
(616) 871-9200
Listed By:
Austin M Harris
(616) 319-1040
Added: Sep 11
Changed: Oct 2
Last Checked: Oct 6 at 5:06AM
MLS# 26048319
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-unit duplex contains more than 2,100 square feet of living space. The main-level residence provides 3 bedrooms, 1 full bath, and approximately 1,154 square feet, while the upper residence includes 2 bedrooms, 1 full bath, and approximately 972 square feet. Both units have updated kitchens and bathrooms, stainless steel appliances, hard-surface countertops, and dedicated laundry areas. The property is currently vacant, allowing an owner-occupant or investor to determine the occupancy plan.
Located at 531 W Webster Avenue in Muskegon, the property is near downtown Muskegon, Muskegon Lake, shopping, and dining. Building features include vinyl and wood siding, forced-air heating, central air, a composition roof, public sewer, and cable availability. The site encompasses 0.1 acres, and the property was built in 1800.
Located at 531 W Webster Avenue in Muskegon, the property is near downtown Muskegon, Muskegon Lake, shopping, and dining. Building features include vinyl and wood siding, forced-air heating, central air, a composition roof, public sewer, and cable availability. The site encompasses 0.1 acres, and the property was built in 1800.
Key Highlights
- Two‑unit duplex with 3‑bedroom and 2‑bedroom residences
- More than 2,100 sq ft of total living space
- Main‑floor unit: 3 bedrooms, 1 full bath, approximately 1,154 sq ft
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,376
Cap Rate
7.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$407,520
$407.5K
Cap Rate 7%
$291,086
$291.1K
Cap Rate 9%
$226,400
$226.4K
Market Conditions
NOI Build-Up for 2,100 SF
Gross rent
$30.7K $14.64/SF
− Vacancy
−$1.6K −$0.78/SF
EGI
$29.1K $13.86/SF
− OpEx
−$8.7K −$4.16/SF
NOI
$20.4K $9.70/SF
Area
Muskegon County, MI
Vacancy
5.32%
Lease Rate
$14.64 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$407,520
Cap Rate 7%
$291,086
Cap Rate 9%
$226,400
Alternative Uses
Best Use
Multifamily LT 5
$291.1K
$254.7K – $339.6K
NOI $20,376 @ 7.0% cap · market cap 7.41%
Second Best
Apartment 5plus
$259.8K
$227.3K – $303.1K
NOI $18,187 @ 7.0% cap · market cap 6.62%
Theoretical Best
Hotel Hospitality
$19.72M
$17.26M – $23.01M
NOI $1,380,482 @ 7.0% cap · market cap 502.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,248
Businesses Nearby
Explore this area
Business Placement
Demographics for 49440, MI
1,320
Population
860
Households
1.5
Avg Household Size
44
Median Age
36%
College-Educated
93%
High-School Grad
0.6 sq mi
ZIP Area
2,200
Density / Sq Mi
$42,500
Median Household Income
$37,067
Median Earnings
$791
Median Rent
$163,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Vacant duplex with renovated kitchens, private laundry, and a flexible three-bedroom and two-bedroom unit arrangement.
Where is this duplex located?
The property is located at 531 W Webster Avenue Muskegon, MI.
What is the asking price?
The asking price for this property is $274,900.
What are key features of this property?
This property features: Two‑unit duplex with 3‑bedroom and 2‑bedroom residences; More than 2,100 sq ft of total living space; Main‑floor unit: 3 bedrooms, 1 full bath, approximately 1,154 sq ft
