1208 Princeton Avenue new Save Request In-Person Tour Request Virtual Tour
Kalamazoo,MI 49007
Key Details
Property Type Multi-Family
Sub Type 2 to 4 Units
Listing Status Active
Purchase Type For Sale
Subdivision Fletchers Addition
MLS Listing ID 25033247
Year Built 1905
Annual Tax Amount $2,718
Tax Year 2024
Lot Size 3,920 Sqft
Property Sub-Type 2 to 4 Units
Property Description
This well-maintained, city-certified duplex offers an excellent opportunity for investors looking to acquire a high-yield, cash-flowing property in the heart of Kalamazoo. This well-maintained, city-certified duplex offers an excellent opportunity for investors looking to acquire a high-yield, cash-flowing property in the heart of Kalamazoo. Featuring a brand-new front porch, this property provides great curb appeal and immediate peace of mind. With two spacious 2-bedroom, 1-bathroom units, this property has consistently generated steady rental income. The lower-level unit ($950/month) is perfect for an owner-occupant or a new tenant at market rent. The upper unit has been rented consistently at $800/month, bringing the total gross income to $21,000 annually.
The owner covers gas, electric, and water ($350/month), leaving a strong net operating income of $16,800. Priced at $140,000, this property boasts an impressive 12% cap rate, making it a rare find in today's market.
A new two-year city certification is already in place. If desired, tenants are ready to move into the lower unit for a seamless transition. This well-maintained, city-certified duplex offers an excellent opportunity for investors looking to acquire a high-yield, cash-flowing property in the heart of Kalamazoo. Featuring a brand-new front porch, this property provides great curb appeal and immediate peace of mind. With two spacious 2-bedroom, 1-bathroom units, this property has consistently generated steady rental income. The lower-level unit ($950/month) is perfect for an owner-occupant or a new tenant at market rent. The upper unit has been rented consistently at $800/month, bringing the total gross income to $21,000 annually.
The owner covers gas, electric, and water ($350/month), leaving a strong net operating income of $16,800. Priced at $140,000, this property boasts an impressive 12% cap rate, making it a rare find in today's market.
A new two-year city certification is already in place. If desired, tenants are ready to move into the lower unit for a seamless transition.
Location
State MI
County Kalamazoo
Area Greater Kalamazoo - K
Interior
Heating Forced Air
Cooling None
Fireplaces Number 1
Laundry Main Level
Exterior
Utilities Available Natural Gas Available,Electricity Available,Natural Gas Connected,Electricity Connected
View Y/N No
Roof Type Composition
Building
Lot Description Sidewalk
Sewer Public Sewer
Structure Type Aluminum Siding
New Construction No
Schools
School District Kalamazoo
Others
Acceptable Financing VA Loan,MSHDA,FHA,Cash,Conventional,Contract
Listing Terms VA Loan,MSHDA,FHA,Cash,Conventional,Contract