Brick Duplex with Attached
For Sale
$399,900
6011 Plainfield Avenue, Kalamazoo, MI 49048
Tenant-occupied converted residence with basement storage, main-floor laundry, and a fenced outdoor area.
Property Size2,324 SF
Price / SF$172.07
Days on Market57
Property Features for 6011 Plainfield Avenue
General Information
Standard status
Active
Size
2,324 SF
Total Parking Spaces
2
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Amenities
main floor laundry
full basement
fenced area
Building Details
Construction
brick
Listing Agency:
RE/MAX Real Estate Professionals
(517) 321-8255
Listed By:
Gary R. Newton · License #6506045750
(517) 410-8307
Source:
Exprealty
Added: Jul 10
Changed: Sep 1
Last Checked: Sep 4 at 1:06PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Real Estate Professionals
Investment Insights
Based on property information with market context.
This brick duplex conversion at 6011 Plainfield Avenue includes four bedrooms and four full bathrooms within more than 2300 sq ft of finished living space. The residence offers main-floor laundry, a full basement for storage or additional living area, and an attached two-car garage. A fenced section provides enclosed outdoor space.
The property is in the Gull Meadows neighborhood of Kalamazoo, MI, and is currently tenant occupied. Showings require 48 hr notice.
The property is in the Gull Meadows neighborhood of Kalamazoo, MI, and is currently tenant occupied. Showings require 48 hr notice.
Key Highlights
- Converted from a residence into a duplex
- Four bedrooms and 4 full baths
- More than 2300 sq ft of finished living space
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$13,668
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.42%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$273,360
$273.4K
Cap Rate 7%
$195,257
$195.3K
Cap Rate 9%
$151,867
$151.9K
Market Conditions
NOI Build-Up for 2,324 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$20.9K $9.00/SF
− Vacancy
−$1.4K −$0.60/SF
EGI
$19.5K $8.40/SF
− OpEx
−$5.9K −$2.52/SF
NOI
$13.7K $5.88/SF
Area
Kalamazoo County, MI
Vacancy
6.65%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$273,360
Cap Rate 7%
$195,257
Cap Rate 9%
$151,867
Alternative Uses
Best Use
Multifamily LT 5
$195.3K
$170.9K – $227.8K
NOI $13,668 @ 7.0% cap · market cap 3.42%
Second Best
Apartment 5plus
$179.3K
$156.9K – $209.2K
NOI $12,553 @ 7.0% cap · market cap 3.14%
Theoretical Best
Warehouse
$608.1K
$532.1K – $709.5K
NOI $42,570 @ 7.0% cap · market cap 10.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
189
Businesses Nearby
Explore this area
Business Placement
Demographics for 49048, MI
25,067
Population
10,440
Households
2.4
Avg Household Size
36
Median Age
25%
College-Educated
90%
High-School Grad
35.1 sq mi
ZIP Area
714
Density / Sq Mi
$62,160
Median Household Income
$36,150
Median Earnings
$1,032
Median Rent
$158,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Tenant-occupied converted residence with basement storage, main-floor laundry, and a fenced outdoor area.
Where is this duplex located?
The property is located at 6011 Plainfield Avenue Kalamazoo, MI.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Converted from a residence into a duplex; Four bedrooms and 4 full baths; More than 2300 sq ft of finished living space
