Three-Unit Income Property
For Sale
$235,000
66 E Isabella Ave, Muskegon, MI 49442
Rare income property featuring a house and a duplex.
Property Size1,296 SF
Price / SF$181.33
Days on Market99
Property Features for 66 E Isabella Ave
General Information
Standard status
Active
Size
1,296 SF
Property subtype
Investment
Building Details
Year Built
1900
Listing Agency:
Grand Rapids Market Center East
(248) 259-6558
Listed By:
Logan Laperriere
(248) 259-6558
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 31 at 12:21PM
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 Grand Rapids Market Center East
Investment Insights
Based on property information with market context.
This property features a rare income opportunity with a standalone house and a duplex on a single tax parcel. The property includes two separate buildings: a 1,296-square-foot house with three bedrooms and two bathrooms, and a duplex. All units have separate heating systems, dedicated carports, and washer and dryer hookups. Ranges and refrigerators are included for all units. The house has a private deck or patio. One unit, the 3BR/2BA house, is currently occupied and generates $1,050 per month. Another unit, a 2BR/1BA unit, is occupied and generates $700 per month. The remaining 2BR/1BA unit is vacant and move-in ready. The property is located in a high-demand location with convenient access to US-31. Investors can lease the final unit for an estimated $950+ for $2,700/mo total gross income. The bike score is 66, indicating it is bikeable, and the walk score is 41, indicating it is car-dependent.
Key Highlights
- Rare 3‑unit income property on a single tax parcel.
- Move‑in ready vacant 2BR/1BA unit allows for immediate occupancy or rental income.**
- Existing rental income of $1,750/month from two occupied units.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $19.0k | $14.64 |
| − Vacancy | −$1.0k | −$0.78 |
| EGI | $18.0k | $13.86 |
| − OpEx | −$5.4k | −$4.16 |
| NOI | $12.6k | $9.70 |
1,296 SF · lease $14.64/SF/yr · vacancy 5.32% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$179.6K
$157.2K – $209.6K
NOI $12,575 @ 7.0% cap · market cap 5.35%
Second Best
Apartment 5plus
$160.3K
$140.3K – $187.1K
NOI $11,224 @ 7.0% cap · market cap 4.78%
Theoretical Best
Hotel Hospitality
$12.17M
$10.65M – $14.20M
NOI $851,955 @ 7.0% cap · market cap 362.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
256
Businesses Nearby
Explore this area
Business Placement
Demographics for 49442, MI
45,342
Population
17,759
Households
2.6
Avg Household Size
37
Median Age
11%
College-Educated
87%
High-School Grad
41.0 sq mi
ZIP Area
1,106
Density / Sq Mi
$50,069
Median Household Income
$33,257
Median Earnings
$889
Median Rent
$116,100
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?
Triplex - Rare income property featuring a house and a duplex.
Where is this triplex located?
The property is located at 66 E Isabella Ave Muskegon, MI.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Rare 3‑unit income property on a single tax parcel.; Move‑in ready vacant 2BR/1BA unit allows for immediate occupancy or rental income.**; Existing rental income of $1,750/month from two occupied units.
