New Construction
For Sale
$699,900
603 Clear Pointe, Grand Rapids, MI 49548
Two residential units are being built with separate attached garages and matching three-bedroom, two-and-a-half-bathroom layouts.
Property Size20 SF
Price / SF$218.72
Days on Market33
Property Features for 603 Clear Pointe
General Information
Standard status
Active
Size
20 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Building Details
Building Size
20 SF
Year Built
2026
Buildings
1
Listing Agency:
Shawn G Realty Group
Listed By:
DeShawn D Gholston · License #6502426251
(248) 835-5767
Source:
Karolinakemski.kw
Added: Sep 29
Changed: Oct 30
Last Checked: Oct 30 at 10:47AM
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 Shawn G Realty Group
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Investment Insights
Based on property information with market context.
Under construction, this duplex is planned with 3,200 square feet of total living area, divided evenly between two 1,600-square-foot units. Each residence is configured with three bedrooms, two-and-a-half bathrooms, an attached garage, living space, and a kitchen. The property is scheduled for completion in 2026.
The site encompasses 0.47 acres and includes a concrete driveway. The duplex is situated on a cul-de-sac, with dimensions listed as 198x103.
The site encompasses 0.47 acres and includes a concrete driveway. The duplex is situated on a cul-de-sac, with dimensions listed as 198x103.
Key Highlights
- Two units, each with 1,600 square feet; 3,200 square feet combined
- Each unit includes 3 bedrooms, 2.5 bathrooms, and an attached garage
- Under construction; year built listed as 2026
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,929
Cap Rate
4.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$678,580
$678.6K
Cap Rate 7%
$484,700
$484.7K
Cap Rate 9%
$376,989
$377.0K
Market Conditions
NOI Build-Up for 3,200 SF
Gross rent
$51.8K $16.20/SF
− Vacancy
−$3.4K −$1.05/SF
EGI
$48.5K $15.15/SF
− OpEx
−$14.5K −$4.54/SF
NOI
$33.9K $10.60/SF
Area
Grand Rapids, MI
Vacancy
6.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$678,580
Cap Rate 7%
$484,700
Cap Rate 9%
$376,989
Alternative Uses
Best Use
Multifamily LT 5
$484.7K
$424.1K – $565.5K
NOI $33,929 @ 7.0% cap · market cap 4.85%
Second Best
Apartment 5plus
$433.9K
$379.7K – $506.3K
NOI $30,375 @ 7.0% cap · market cap 4.34%
Theoretical Best
Specialty Retail
$742.6K
$649.8K – $866.4K
NOI $51,984 @ 7.0% cap · market cap 7.43%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
435
Businesses Nearby
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Business Placement
Demographics for 49548, MI
34,741
Population
13,174
Households
2.6
Avg Household Size
34
Median Age
17%
College-Educated
86%
High-School Grad
10.8 sq mi
ZIP Area
3,217
Density / Sq Mi
$62,218
Median Household Income
$35,831
Median Earnings
$1,129
Median Rent
$149,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units are being built with separate attached garages and matching three-bedroom, two-and-a-half-bathroom layouts.
Where is this duplex located?
The property is located at 603 Clear Pointe Grand Rapids, MI.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Two units, each with 1,600 square feet; 3,200 square feet combined; Each unit includes 3 bedrooms, 2.5 bathrooms, and an attached garage; Under construction; year built listed as 2026
