Updated Two-Unit
For Sale
$344,900
921 Fairmount Street SE, Grand Rapids, MI 49506
Multi Family, Grand Rapids, MI
Property Size1,726 SF
Lot Size0.08 Acres
Price / SF$199.83
Days on Market221
Property Features for 921 Fairmount Street SE
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Res Multifamily
Bedrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Basement
Parking
2
Parking features
Driveway
Basement
Crawl Space, Full
Subdivision
Fairmount Square
Lot features
Level, Sidewalk, Corner Lot
Elementary school district
Grand Rapids
Middle school district
Grand Rapids
High school district
Grand Rapids
Directions
Diamond St to Fairmount
Standard status
Active
APN
41-14-29-354-017
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
W 42.74 FT OF S 84 FT OF LOT 19* WEATHERLY S ADDITION
Tax Annual Amount
7008
Legal Description
W 42.74 FT OF S 84 FT OF LOT 19* WEATHERLY S ADDITION
Utilities
Utilities
Phone Available
Heating system
Forced Air
Building Details
Year built
1895
Number of units
2
Building materials
Brick, Wood Siding
Roof type
Composition
Listing Agency:
616 Realty LLC
(616) 272-3707
Listed By:
Julie A ONeill · License #6506048942
(616) 460-2711
Added: Mar 10
Changed: Oct 6
Last Checked: Oct 16 at 12:06PM
MLS# 26008983
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.
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Investment Insights
Based on property information with market context.
This updated duplex contains two residential units within a 1,726-square-foot building constructed in 1895. The property includes refreshed interiors, a basement, two bedrooms, and two bathrooms, with each unit currently leased. Brick and wood siding frame the exterior, while forced-air heating and a composition roof serve the building. A driveway provides on-site parking.
The property is located on Fairmount Street SE in Grand Rapids’ Fairmount Historic District, within ZIP code 49506. Eastown, Heritage Hill, Midtown, downtown Grand Rapids, parks, restaurants, coffee shops, and shopping are identified in the surrounding area. The parcel encompasses 0.08 acres and includes phone service availability.
The property is located on Fairmount Street SE in Grand Rapids’ Fairmount Historic District, within ZIP code 49506. Eastown, Heritage Hill, Midtown, downtown Grand Rapids, parks, restaurants, coffee shops, and shopping are identified in the surrounding area. The parcel encompasses 0.08 acres and includes phone service availability.
Key Highlights
- Two‑unit duplex with both units currently leased
- 1,726‑square‑foot building on a 0.08‑acre parcel
- Located in Grand Rapids’ Fairmount Historic District
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,301
Cap Rate
5.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$366,020
$366.0K
Cap Rate 7%
$261,443
$261.4K
Cap Rate 9%
$203,344
$203.3K
Market Conditions
NOI Build-Up for 1,726 SF
Gross rent
$28.0K $16.20/SF
− Vacancy
−$1.8K −$1.05/SF
EGI
$26.1K $15.15/SF
− OpEx
−$7.8K −$4.54/SF
NOI
$18.3K $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 Rate 5%
$366,020
Cap Rate 7%
$261,443
Cap Rate 9%
$203,344
Alternative Uses
Best Use
Multifamily LT 5
$261.4K
$228.8K – $305.0K
NOI $18,301 @ 7.0% cap · market cap 5.31%
Second Best
Apartment 5plus
$234.0K
$204.8K – $273.1K
NOI $16,383 @ 7.0% cap · market cap 4.75%
Theoretical Best
Specialty Retail
$400.6K
$350.5K – $467.3K
NOI $28,039 @ 7.0% cap · market cap 8.13%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,147
Businesses Nearby
Explore this area
Business Placement
Demographics for 49506, MI
33,050
Population
13,262
Households
2.5
Avg Household Size
34
Median Age
67%
College-Educated
97%
High-School Grad
7.3 sq mi
ZIP Area
4,527
Density / Sq Mi
$112,287
Median Household Income
$48,631
Median Earnings
$1,305
Median Rent
$338,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Leased duplex with refreshed interiors, driveway parking, and a location in Grand Rapids’ Fairmount Historic District.
Where is this duplex located?
The property is located at 921 Fairmount Street SE Grand Rapids, MI.
What is the asking price?
The asking price for this property is $344,900.
What are key features of this property?
This property features: Two‑unit duplex with both units currently leased; 1,726‑square‑foot building on a 0.08‑acre parcel; Located in Grand Rapids’ Fairmount Historic District
