Three-Unit Income Property
For Sale
$210,000
66 E Isabella, Muskegon, MI 49442
Rare income property featuring a house and a duplex.
Property Size3,975 SF
Price / SF$162.04
Days on Market240
Property Features for 66 E Isabella
General Information
Standard status
Active
Size
3,975 SF
Property subtype
Multi-Family
Amenities
Forced Air
Building Details
Building Size
3,975 SF
Year Built
1900
Listing Agency:
Keller Williams GR East
Listed By:
Logan Laperriere
(616) 575-1800
Source:
Kw
Added: Feb 8
Changed: Oct 4
Last Checked: Oct 5 at 3:50PM
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 Keller Williams GR 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
Estimated NOI and Cap Rate
NOI / Yr
$12,575
Cap Rate
5.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$251,500
$251.5K
Cap Rate 7%
$179,643
$179.6K
Cap Rate 9%
$139,722
$139.7K
Market Conditions
NOI Build-Up for 1,296 SF
Gross rent
$19.0K $14.64/SF
− Vacancy
−$1.0K −$0.78/SF
EGI
$18.0K $13.86/SF
− OpEx
−$5.4K −$4.16/SF
NOI
$12.6K $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%
$251,500
Cap Rate 7%
$179,643
Cap Rate 9%
$139,722
Alternative Uses
Best Use
Multifamily LT 5
$179.6K
$157.2K – $209.6K
NOI $12,575 @ 7.0% cap · market cap 5.99%
Second Best
Apartment 5plus
$160.3K
$140.3K – $187.1K
NOI $11,224 @ 7.0% cap · market cap 5.34%
Theoretical Best
Hotel Hospitality
$12.17M
$10.65M – $14.20M
NOI $851,955 @ 7.0% cap · market cap 405.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,366
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
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?
Triplex - Rare income property featuring a house and a duplex.
Where is this triplex located?
The property is located at 66 E Isabella Muskegon, MI.
What is the asking price?
The asking price for this property is $210,000.
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.
