Building Details

Year Built 2003

Listing Agency: recreyate

Listed By: David T Molnar · License #6502431120 Show Phone

Source: Findmichiganhomelistings

Added: Sep 2 Changed: Oct 1 Last Checked: Oct 4 at 10:23AM

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Investment Insights

Based on property information with market context.

This four-unit residential income property consists of two duplex buildings on separate legal parcels, offered together. Built in 2003, the buildings contain four three-bedroom units, with one-bedroom and two-bedroom bath configurations. Unit sizes are approximately 1,050 SF and 1,500 SF. Each unit includes an attached one-car garage. One 1,500 SF unit has been freshly renovated with an additional living room and den/office in the basement, while another unit is undergoing renovation. The property includes separately metered gas and electric service, with landlord-paid trash and city water/sewer. The duplexes share a driveway and are positioned on more than 2.5 acres along Stadium Drive, just west of 6th Street in Oshtemo Township. The East building is identified as 8161/8163 Stadium Drive, and the West building as 8171/8173 Stadium Drive. Offers will be considered only for both parcels together.

Key Highlights

• Four 3BR units across two duplex buildings
• More than 2.5 acres on two separate legal parcels
• Each unit includes an attached 1‑car garage

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$28,229

Cap Rate

4.52%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$564,580 $564.6K

Cap Rate 7%

$403,271 $403.3K

Cap Rate 9%

$313,656 $313.7K

Market Conditions

NOI Build-Up for 4,800 SF

Gross rent

$43.2K $9.00/SF

− Vacancy

−$2.9K −$0.60/SF

EGI

$40.3K $8.40/SF

− OpEx

−$12.1K −$2.52/SF

NOI

$28.2K $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 Rate 5%

$564,580

Cap Rate 7%

$403,271

Cap Rate 9%

$313,656

Alternative Uses

Best Use

Multifamily LT 5

$403.3K

$352.9K – $470.5K (±1% cap)

NOI $28,229 @ 7.0% cap · market cap 4.52%

Second Best

Apartment 5plus

$370.4K

$324.1K – $432.1K (±1% cap)

NOI $25,927 @ 7.0% cap · market cap 4.15%

Theoretical Best

Warehouse

$1.26M

$1.10M – $1.47M (±1% cap)

NOI $87,924 @ 7.0% cap · market cap 14.07%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Building Supply Dental Office Auto Parts Store Big Box & Wholesale Store Auto Repair Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

47

Businesses Nearby

Explore this area Business Placement

Demographics for 49009, MI

47,188

Population

20,609

Households

2.3

Avg Household Size

38

Median Age

50%

College-Educated

96%

High-School Grad

102.2 sq mi

ZIP Area

462

Density / Sq Mi

$82,364

Median Household Income

$44,702

Median Earnings

$1,089

Median Rent

$330,300

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Two duplex buildings on separate parcels offer attached garages, individual utility metering, and a shared driveway.

Where is this duplex located?

The property is located at 8161 Stadium Dr Kalamazoo, MI.

What is the asking price?

The asking price for this property is $625,000.

What are key features of this property?

This property features: Four 3BR units across two duplex buildings; More than 2.5 acres on two separate legal parcels; Each unit includes an attached 1‑car garage