Side-by-Side
New
For Sale
$250,000
713 W Kalamazoo Avenue, Kalamazoo, MI 49007
Multi Family, Kalamazoo, MI
Property Size3,276 SF
Lot Size0.20 Acres
Price / SF$76.31
Days on Market7
Property Features for 713 W Kalamazoo Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 4, Bedroom 2, Bathroom 2, Bathroom 3, Bedroom 3, Bedroom 6, Basement, Bedroom 1, Bedroom 5, Bathroom 1
Parking
4
Parking features
Paved or Surfaced
Basement
Full
Lot features
Sidewalk
Elementary school district
Kalamazoo
Middle school district
Kalamazoo
High school district
Kalamazoo
Directions
131 to BUS 131. Continue south onto N Westnedge Ave. West on W Kalamazoo Ave. Located on South side before Elm St.
Standard status
Active
APN
06-16-436-007
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
43218 STONE & PHILLIPS ADDITION, LIBER 3 OF PLATS PAGE 18; LOT 7.
Tax Annual Amount
7501
Legal Description
43218 STONE & PHILLIPS ADDITION, LIBER 3 OF PLATS PAGE 18; LOT 7.
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Forced Air
Amenities
in-unit washer/dryer
private basement
Building Details
Year built
1880
Number of units
2
Roof type
Composition
Listing Agency:
Keller Williams Professionals
(734) 459-4700
Listed By:
Jeffrey Glover · License #6502408794
(616) 594-1000
Added: Aug 26
Last Checked: Sep 1 at 11:06AM
MLS# 26045053
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 side-by-side duplex contains two townhouse-style residences, each with approximately 1,638 square feet of living space, three bedrooms, and one full bathroom. One unit also includes a half bath near the kitchen. Combined living area totals approximately 3,276 square feet with six bedrooms and two full bathrooms. Both units feature spacious living areas, private basement storage, and in-unit washer and dryer accommodations.
Each residence has two dedicated paved parking spaces, creating four off-street spaces in total. The units are leased and occupied, with tenants in place through nearly the next year. The property is near Downtown Kalamazoo, Western Michigan University, Kalamazoo College, employment centers, dining, shopping, public transportation, and major roadways. Built in 1880, the property has forced-air heating, a composition roof, public sewer, and cable availability.
Each residence has two dedicated paved parking spaces, creating four off-street spaces in total. The units are leased and occupied, with tenants in place through nearly the next year. The property is near Downtown Kalamazoo, Western Michigan University, Kalamazoo College, employment centers, dining, shopping, public transportation, and major roadways. Built in 1880, the property has forced-air heating, a composition roof, public sewer, and cable availability.
Key Highlights
- Two townhouse‑style units with approximately 3,276 square feet combined
- Each unit offers approximately 1,638 square feet, 3 bedrooms, and 1 full bathroom
- Unit 713 includes a half bath near the kitchen
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
$19,266
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
7.71%
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%
$385,320
$385.3K
Cap Rate 7%
$275,229
$275.2K
Cap Rate 9%
$214,067
$214.1K
Market Conditions
NOI Build-Up for 3,276 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
$29.5K $9.00/SF
− Vacancy
−$2.0K −$0.60/SF
EGI
$27.5K $8.40/SF
− OpEx
−$8.3K −$2.52/SF
NOI
$19.3K $5.88/SF
Area
Kalamazoo County, MI
Vacancy
6.65%
Lease Rate
$9.00 /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%
$385,320
Cap Rate 7%
$275,229
Cap Rate 9%
$214,067
Alternative Uses
Best Use
Multifamily LT 5
$275.2K
$240.8K – $321.1K
NOI $19,266 @ 7.0% cap · market cap 7.71%
Second Best
Apartment 5plus
$252.8K
$221.2K – $294.9K
NOI $17,695 @ 7.0% cap · market cap 7.08%
Theoretical Best
Warehouse
$857.3K
$750.1K – $1.00M
NOI $60,008 @ 7.0% cap · market cap 24.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,139
Businesses Nearby
Explore this area
Business Placement
Demographics for 49007, MI
10,353
Population
5,102
Households
2
Avg Household Size
31
Median Age
24%
College-Educated
84%
High-School Grad
3.5 sq mi
ZIP Area
2,958
Density / Sq Mi
$39,309
Median Household Income
$24,723
Median Earnings
$1,017
Median Rent
$103,400
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?
Duplex - Two townhouse-style residences provide private basements, in-unit laundry, and dedicated paved parking.
Where is this duplex located?
The property is located at 713 W Kalamazoo Avenue Kalamazoo, MI.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Two townhouse‑style units with approximately 3,276 square feet combined; Each unit offers approximately 1,638 square feet, 3 bedrooms, and 1 full bathroom; Unit 713 includes a half bath near the kitchen
