921 Fairmount Street SE Grand Rapids, MI 49506
MULTI_FAMILY - Grand Rapids, MI
Property Features for 921 Fairmount Street SE
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 2
- Rooms
- Bedroom 2, Bedroom 1, Bathroom 1, Bathroom 2, Basement
- Parking
- 2
- Parking features
- Driveway
- Basement
- Full
- 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
Utilities
- Utilities
- Phone Available
- Heating system
- Forced Air
Building Details
- Year built
- 1895
- Number of units
- 2
- Building materials
- Wood Siding
- Roof type
- Composition
Listing agent Julie A ONeill (616) 460-2711
Listing office 616 Realty LLC 1171 Plainfield Ave NE, Grand Rapids, MI (616) 272-3707
Listing date Mar 10, 2026
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.
The property is located in Grand Rapids within the Fairmount Historic District, in the 49506 zip code. It is positioned near Eastown, Heritage Hill, Midtown, and downtown Grand Rapids, with proximity to parks, restaurants, coffee shops, and shopping.
For buyers looking for flexible occupancy, the June 30 vacancy date allows for planning a move-in and immediate control over one unit. For investors, the layout supports leasing either one or both units depending on timing and operational goals. As presented, the home offers move-in-ready, updated interiors and the option to tailor use to your preferred ownership or rental approach.
Key Highlights
- Updated 2‑unit duplex in Grand Rapids’ Fairmount Historic District
- 1,726 sq. ft. duplex (year built 1895) with two bedrooms and two bathrooms
- Lower unit will be vacant on June 30—occupy one unit while renting the other or lease both
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $28.0k | $16.20 |
| − Vacancy | −$1.8k | −$1.05 |
| EGI | $26.1k | $15.15 |
| − OpEx | −$7.8k | −$4.54 |
| NOI | $18.3k | $10.60 |
