1208 Princeton Avenue, Kalamazoo, MI 49007 (MLS # 25005994)

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PRICE $125,000 BEDS 0 BATHS 0 HOME SIZE n/a LOT SIZE 3,921 sqft

This well-maintained duplex offers an excellent opportunity for investors looking to acquire a high-yield, cash-flowing property in the heart of Kalamazoo. With two spacious 2-bedroom, 1-bathroom units, this property has consistently generated steady rental income, making it an attractive option for both seasoned investors and those looking to grow their portfolio. The lower-level unit, which has been rented for $950 per month, will be vacant in March, presenting the perfect opportunity for an owner-occupant or a new tenant at market rent. The upper-level unit is currently occupied at $800 per month. This brings the total gross rental income to $1,750 per month, or $21,000 annually. The owner currently covers gas, electric, and water expenses, which average $350 per month or approximately $4,200 per year. Even with these expenses, the property delivers a strong net operating income of $16,800 annually. Priced at $125,000, this property boasts an impressive 13.44% cap rate, making it a rare find in today's market. Additionally, the home will be freshly city certified in March, with a new two-year certification in place, ensuring compliance and ease of ownership for the next investor. If desired, there are tenants available and ready to move into the lower-level unit, making for a seamless transition in occupancy. With strong rental demand in the area and the potential for increased rents, this is an excellent opportunity to secure a profitable multifamily property at an affordable price. Don't miss your chance to own this income-generating duplexschedule your showing today!