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    Turnkey Duplex Income Property Title is generated by Realmo AI

    712 Forest Parkway, Crystal Falls, MI 49920

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    Claim this Listing
    New
    For Sale
    $129,900

    MULTI_FAMILY - Conventional - Crystal Falls, MI

    Property size:
    1,872 SF
    Lot size:
    0.16 Acres
    Price / SF:
    $69/SF
    Added:
    Jun 1, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 2 at 6:06 pm

    Property Features for 712 Forest Parkway

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    4
    Bathrooms
    3
    Rooms
    Bathroom 3, Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 3, Basement, Bedroom 4
    Exterior features
    Fenced Yard
    Fencing
    Fenced
    Appliances
    Dryer, Range/Oven, Refrigerator, Washer
    Standard status
    Active
    Size
    1,872 SF
    Lot size
    0.16 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    1551

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1930
    Floors in Building
    2
    Number of units
    2
    Architectural style
    Conventional

    We can help!

    Listing Contact
    STEPHEN REMONDINI

    Listing agent STEPHEN REMONDINI License #11057094

    Listing office STEPHENS REAL ESTATE-IRON RIVER 427 Cedar Avenue, Iron Mountain, MI

    Listing date Jun 1, 2026

    MLS# 50209602 Listing URL

    Copyright © 2026 Upper Peninsula Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 1,872 sq ft duplex with private outdoor space and dual laundry setups
    • Main‑floor unit: spacious living room and kitchen with 2 bedrooms and a full bath
    • Upstairs unit: 2 bedrooms with in‑unit laundry and an updated full bath
    • Full basement includes secondary laundry hookups, a bonus 3/4 bath, and extensive storage
    • Fenced yard plus detached two‑car garage
    • Built in 1930 with forced‑air heating and central air; public water

    Overview

    Turnkey income property offering 1,872 sq ft across two separate units in a duplex configuration. The main-floor unit includes a spacious living room and kitchen, two bedrooms, and a full bath, with access to private outdoor space. Upstairs, the second two-bedroom unit features its own in-unit laundry and an updated full bath.

    Additional practical value is provided by the full basement, which includes extensive storage plus secondary laundry hookups, along with a bonus 3/4 bath. Outside, the property is complemented by a fully fenced yard and a detached two-car garage, providing everyday convenience for tenants.

    This duplex is a strong fit for investors seeking a manageable, tenant-friendly layout with multiple laundry options and functional common support through the basement. It may also appeal to owner-operators looking for an income-generating property with both private outdoor space and dedicated parking, supported by a turnkey presentation described in the listing.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Crystal Falls
    County
    Iron
    State
    Michigan
    Longitude
    -88.3375105
    Latitude
    46.096924

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    FAQs

    What type of property is this?
    Duplex - Well-laid-out duplex with dual laundry setups, private outdoor space, and a fully fenced yard for reliable rental income potential.
    Where is this duplex located?
    The property is located at 712 Forest Parkway Crystal Falls, MI.
    What is the asking price?
    The asking price for this property is $129,900.
    What are key features of this property?
    This property features: 1,872 sq ft duplex with private outdoor space and dual laundry setups; Main‑floor unit: spacious living room and kitchen with 2 bedrooms and a full bath; Upstairs unit: 2 bedrooms with in‑unit laundry and an updated full bath
    (906) 284-0341
    We can help!
    Listing Contact
    STEPHEN REMONDINI
    Real Estate License ID: 11057094
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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