Duplex with Leased
New
For Sale
$369,900
717 Whalen Ct, Grand Rapids, MI 49504
Two residential units provide distinct bedroom layouts with current leases in place.
Property Size1,416 SF
Price / SF$261.23
Days on Market1
Property Features for 717 Whalen Ct
General Information
Standard status
Active
Size
1,416 SF
Property subtype
Multi-Family
Building Details
Year Built
1900
Listing Agency:
Exp Realty Main
(888) 501-7085
Listed By:
Beyond MI Realty
(989) 214-2240
Source:
Beyondmirealty
Added: Sep 19
Last Checked: Sep 19 at 6:50AM
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 Exp Realty Main
Investment Insights
Based on property information with market context.
This duplex contains two residential units with established occupancy. The unit at 717 Whalen Ct NW has 3 bedrooms and 1 bathroom, while 719 offers 2 bedrooms and 1 bathroom. Both units are leased, managed, and certified, creating an existing rental arrangement within the property. The 1900-built asset also presents an owner-occupancy option, with the possibility of living in one unit while renting the other.
The property is located at 717 Whalen Ct NW 719 in Grand Rapids, Michigan. Bridge Street, local restaurants, cultural destinations, the stadium, and Grand Valley are identified as nearby points of access and activity. Walk Score is 91, Bike Score is 69, and Transit Score is 62, reflecting walkable, bikeable, and transit-accessible surroundings.
The property is located at 717 Whalen Ct NW 719 in Grand Rapids, Michigan. Bridge Street, local restaurants, cultural destinations, the stadium, and Grand Valley are identified as nearby points of access and activity. Walk Score is 91, Bike Score is 69, and Transit Score is 62, reflecting walkable, bikeable, and transit-accessible surroundings.
Key Highlights
- Two‑unit duplex with both units leased, managed, and certified
- 717 Whalen Ct NW: 3 bedrooms and 1 bathroom
- 719 Whalen Ct NW: 2 bedrooms and 1 bathroom
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
$15,014
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
4.06%
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%
$300,280
$300.3K
Cap Rate 7%
$214,486
$214.5K
Cap Rate 9%
$166,822
$166.8K
Market Conditions
NOI Build-Up for 1,416 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
$22.9K $16.20/SF
− Vacancy
−$1.5K −$1.05/SF
EGI
$21.4K $15.15/SF
− OpEx
−$6.4K −$4.54/SF
NOI
$15.0K $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%
$300,280
Cap Rate 7%
$214,486
Cap Rate 9%
$166,822
Alternative Uses
Best Use
Multifamily LT 5
$214.5K
$187.7K – $250.2K
NOI $15,014 @ 7.0% cap · market cap 4.06%
Second Best
Apartment 5plus
$192.0K
$168.0K – $224.0K
NOI $13,441 @ 7.0% cap · market cap 3.63%
Theoretical Best
Specialty Retail
$328.6K
$287.5K – $383.4K
NOI $23,003 @ 7.0% cap · market cap 6.22%
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
1,099
Businesses Nearby
Explore this area
Business Placement
Demographics for 49504, MI
41,249
Population
18,830
Households
2.2
Avg Household Size
33
Median Age
39%
College-Educated
90%
High-School Grad
11.1 sq mi
ZIP Area
3,716
Density / Sq Mi
$68,326
Median Household Income
$41,138
Median Earnings
$1,145
Median Rent
$222,600
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 residential units provide distinct bedroom layouts with current leases in place.
Where is this duplex located?
The property is located at 717 Whalen Ct Grand Rapids, MI.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: Two‑unit duplex with both units leased, managed, and certified; 717 Whalen Ct NW: 3 bedrooms and 1 bathroom; 719 Whalen Ct NW: 2 bedrooms and 1 bathroom
