New-Construction
New
For Sale
$699,900
603 Clear Pointe Court SE, Grand Rapids, MI 49548
Multi Family, Grand Rapids, MI
Property Size3,200 SF
Lot Size0.47 Acres
Price / SF$218.72
Days on Market4
Property Features for 603 Clear Pointe Court SE
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Bedrooms
6
Full bathrooms
4
Half bathrooms
2
Rooms
Bedroom 4, Bedroom 5, Bedroom 6, Bathroom 5, Bathroom 1, Bathroom 6, Bathroom 3, Bedroom 3, Bedroom 2, Bedroom 1, Bathroom 2, Bathroom 4
Parking
2
Parking features
Driveway
Lot features
Cul-De-Sac
Elementary school district
Kentwood
Middle school district
Kentwood
High school district
Kentwood
Standard status
Active
APN
41-18-31-476-023
Lot size
0.47 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
556
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
2026
Number of units
2
Building materials
Vinyl Siding
Roof type
Composition
Listing Agency:
Shawn G Realty Group
(248) 835-5767
Listed By:
DeShawn D Gholston
(616) 540-1416
Added: Sep 13
Changed: Sep 15
Last Checked: Sep 16 at 4:06AM
MLS# 26048750
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 duplex is under construction with 3,200 total square feet, including 1,600 square feet per unit. Each residence is planned with three bedrooms, 2.5 bathrooms, living areas, a kitchen, and an attached garage. The layout provides two separate homes within one income-producing property, with driveway parking and additional garage storage.
The property sits on a 0.47-acre lot at 603 Clear Pointe Court SE in Grand Rapids, Michigan. Planned building features include vinyl siding, composition roofing, forced-air heat, central air, public sewer, and cable availability. Construction is scheduled for 2026 completion based on the stated year built.
The property sits on a 0.47-acre lot at 603 Clear Pointe Court SE in Grand Rapids, Michigan. Planned building features include vinyl siding, composition roofing, forced-air heat, central air, public sewer, and cable availability. Construction is scheduled for 2026 completion based on the stated year built.
Key Highlights
- 3,200 total square feet with 1,600 square feet per unit
- Two units, each with 3 bedrooms and 2.5 bathrooms
- Attached garage for each unit with driveway parking
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
$33,929
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
4.85%
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%
$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
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
$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 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%
$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.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
152
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Two-unit residential property under construction with three-bedroom layouts, attached garages, and central air in each unit.
Where is this duplex located?
The property is located at 603 Clear Pointe Court SE 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: 3,200 total square feet with 1,600 square feet per unit; Two units, each with 3 bedrooms and 2.5 bathrooms; Attached garage for each unit with driveway parking
