32969 Laplant Rd
Duplex · 2 units: 3 bed / 1 bath and 1 bed / 1 bath · 3,384 sq ft
Grand Rapids, MN · View the listing ↗
Photos courtesy of Keller Williams Classic Realty, via Realtor.com.
- Asking price
- $550,000 2 units · $275K per unit
- Monthly cash flow
- −$1,123 at 20% down, 7%
- Estimated rent
- $4,125/mo low confidence
- Break-even price
- $339,038 where cash flow hits $0
First look
This is not a clean duplex. It is two apartments plus a large commercial-style space with a full kitchen, and the listing gives no rents, no leases and no expenses. FACTS put cash flow at about -$1,123 a month at $550K, with a 3.9% cap rate and a break-even price near $339K, so the price only works if the business unit earns real rent. After 605 days on market the seller has not found that tenant, and that is the first thing to test. Get the rent roll, tax bill, heat and utility setup, and a zoning and use check before a showing. Worth a showing only if you want a mixed-use or owner-user play at a much lower price.
Things to consider
- Price versus income Underwriting shows about -$1,123 a month at asking. Break-even is near $339K, so the gap is large.
- Commercial unit is unproven Without a tenant or rent history, its income is a guess. Vacancy there could last a long time.Listing says: “with a separate unit for a business”
- Rents are an estimate only Our estimates are about $2,450 for the 3-bed and $1,675 for the 1-bed. No actual rents were given, so verify with leases.
- Unverified parcel and taxes We could not match a county record. Taxes, unit count and classification could change the numbers.
- Rural location and long market time Highway frontage helps visibility but the 605 days suggest thin demand at this price.
From the photos
Based on 10 of the listing photos. Photos can hide as much as they show; an inspection is the real answer.
Condition and repairs
- doneHVAC updatedListing says: Recent updates include HVAC, electrical, siding, flooring, paint, and a newer roof.
- doneElectrical updatedListing says: Recent updates include HVAC, electrical, siding, flooring, paint, and a newer roof.
- doneSiding replacedListing says: Recent updates include HVAC, electrical, siding, flooring, paint, and a newer roof.
- doneNewer roof (age not given)Listing says: Recent updates include HVAC, electrical, siding, flooring, paint, and a newer roof.
AI-assisted first read of the listing description and photos (Claude), checked against public records. Every rent and repair above quotes the listing; verify with the agent, leases and an inspection.
The numbers
Edit rents, costs and assumptions
Default: 20% down (no PMI), offer at asking, self-managed, 7.00% for 30 years, buyer pays closing costs (3%).
The deal
- Price
- $550,000
- Cash to close
- $71,500
- Price per unit
- $275,000
- GRM
- 11.1
Each month
- Cash flow
- −$1,798/mo
- Cash-on-cash
- −30.2%
- Cap rate
- 3.9%
- DSCR
- 0.50×
Break-even
- Price that breaks even
- $275,487
- Rent that breaks even
- $6,430/mo
Long run
- Year 30: property vs stocks
- $1.27M vs $1.71M
- Cash flow turns positive
- year 25
The deal
- Price
- $550,000
- Cash to close
- $71,500
- Price per unit
- $275,000
- GRM
- 11.1
Each month
- Cash flow
- −$2,147/mo
- Cash-on-cash
- −36.0%
- Cap rate
- 3.2%
- DSCR
- 0.40×
Break-even
- Price that breaks even
- $222,210
- Rent that breaks even
- $7,213/mo
Long run
- Year 30: property vs stocks
- $1.25M vs $2.24M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $540,000
- Cash to close
- $70,200
- Price per unit
- $270,000
- GRM
- 10.9
Each month
- Cash flow
- −$1,733/mo
- Cash-on-cash
- −29.6%
- Cap rate
- 4.0%
- DSCR
- 0.51×
Break-even
- Price that breaks even
- $275,487
- Rent that breaks even
- $6,346/mo
Long run
- Year 30: property vs stocks
- $1.26M vs $1.64M
- Cash flow turns positive
- year 25
The deal
- Price
- $540,000
- Cash to close
- $70,200
- Price per unit
- $270,000
- GRM
- 10.9
Each month
- Cash flow
- −$2,082/mo
- Cash-on-cash
- −35.6%
- Cap rate
- 3.2%
- DSCR
- 0.41×
Break-even
- Price that breaks even
- $222,210
- Rent that breaks even
- $7,118/mo
Long run
- Year 30: property vs stocks
- $1.23M vs $2.16M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $550,000
- Cash to close
- $126,500
- Price per unit
- $275,000
- GRM
- 11.1
Each month
- Cash flow
- −$1,123/mo
- Cash-on-cash
- −10.7%
- Cap rate
- 3.9%
- DSCR
- 0.62×
Break-even
- Price that breaks even
- $339,038
- Rent that breaks even
- $5,565/mo
Long run
- Year 30: property vs stocks
- $1.32M vs $1.67M
- Cash flow turns positive
- year 21
The deal
- Price
- $550,000
- Cash to close
- $126,500
- Price per unit
- $275,000
- GRM
- 11.1
Each month
- Cash flow
- −$1,472/mo
- Cash-on-cash
- −14.0%
- Cap rate
- 3.2%
- DSCR
- 0.50×
Break-even
- Price that breaks even
- $273,471
- Rent that breaks even
- $6,241/mo
Long run
- Year 30: property vs stocks
- $1.25M vs $2.15M
- Cash flow turns positive
- year 30
The deal
- Price
- $540,000
- Cash to close
- $124,200
- Price per unit
- $270,000
- GRM
- 10.9
Each month
- Cash flow
- −$1,070/mo
- Cash-on-cash
- −10.3%
- Cap rate
- 4.0%
- DSCR
- 0.63×
Break-even
- Price that breaks even
- $339,038
- Rent that breaks even
- $5,496/mo
Long run
- Year 30: property vs stocks
- $1.31M vs $1.60M
- Cash flow turns positive
- year 20
The deal
- Price
- $540,000
- Cash to close
- $124,200
- Price per unit
- $270,000
- GRM
- 10.9
Each month
- Cash flow
- −$1,419/mo
- Cash-on-cash
- −13.7%
- Cap rate
- 3.2%
- DSCR
- 0.51×
Break-even
- Price that breaks even
- $273,471
- Rent that breaks even
- $6,165/mo
Long run
- Year 30: property vs stocks
- $1.23M vs $2.07M
- Cash flow turns positive
- year 30
The deal
- Price
- $550,000
- Cash to close
- $154,000
- Price per unit
- $275,000
- GRM
- 11.1
Each month
- Cash flow
- −$940/mo
- Cash-on-cash
- −7.3%
- Cap rate
- 3.9%
- DSCR
- 0.66×
Break-even
- Price that breaks even
- $361,640
- Rent that breaks even
- $5,330/mo
Long run
- Year 30: property vs stocks
- $1.36M vs $1.71M
- Cash flow turns positive
- year 18
The deal
- Price
- $550,000
- Cash to close
- $154,000
- Price per unit
- $275,000
- GRM
- 11.1
Each month
- Cash flow
- −$1,289/mo
- Cash-on-cash
- −10.0%
- Cap rate
- 3.2%
- DSCR
- 0.53×
Break-even
- Price that breaks even
- $291,702
- Rent that breaks even
- $5,978/mo
Long run
- Year 30: property vs stocks
- $1.26M vs $2.15M
- Cash flow turns positive
- year 28
The deal
- Price
- $540,000
- Cash to close
- $151,200
- Price per unit
- $270,000
- GRM
- 10.9
Each month
- Cash flow
- −$890/mo
- Cash-on-cash
- −7.1%
- Cap rate
- 4.0%
- DSCR
- 0.67×
Break-even
- Price that breaks even
- $361,640
- Rent that breaks even
- $5,266/mo
Long run
- Year 30: property vs stocks
- $1.35M vs $1.64M
- Cash flow turns positive
- year 17
The deal
- Price
- $540,000
- Cash to close
- $151,200
- Price per unit
- $270,000
- GRM
- 10.9
Each month
- Cash flow
- −$1,239/mo
- Cash-on-cash
- −9.8%
- Cap rate
- 3.2%
- DSCR
- 0.54×
Break-even
- Price that breaks even
- $291,702
- Rent that breaks even
- $5,907/mo
Long run
- Year 30: property vs stocks
- $1.24M vs $2.08M
- Cash flow turns positive
- year 27
Monthly
Monthly breakdown
| Rent | $4,125 |
| Vacancy (6%) | −$248 |
| Collected | $3,878 |
| Property tax Estimate | −$962 |
| Insurance Estimate | −$220 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$330 |
| Capital reserve (8% of rent) | −$330 |
| Net operating income | $1,804 |
| Mortgage (principal + interest) | −$3,293 |
| PMI | −$309 |
| Cash flow | −$1,798 |
| Principal paid down (equity, not cash) | $419 |
| Rent | $4,125 |
| Vacancy (6%) | −$248 |
| Collected | $3,878 |
| Property tax Estimate | −$962 |
| Insurance Estimate | −$220 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$330 |
| Capital reserve (8% of rent) | −$330 |
| Property management | −$349 |
| Net operating income | $1,456 |
| Mortgage (principal + interest) | −$3,293 |
| PMI | −$309 |
| Cash flow | −$2,147 |
| Principal paid down (equity, not cash) | $419 |
| Rent | $4,125 |
| Vacancy (6%) | −$248 |
| Collected | $3,878 |
| Property tax Estimate | −$962 |
| Insurance Estimate | −$220 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$330 |
| Capital reserve (8% of rent) | −$330 |
| Net operating income | $1,804 |
| Mortgage (principal + interest) | −$3,233 |
| PMI | −$304 |
| Cash flow | −$1,733 |
| Principal paid down (equity, not cash) | $411 |
| Rent | $4,125 |
| Vacancy (6%) | −$248 |
| Collected | $3,878 |
| Property tax Estimate | −$962 |
| Insurance Estimate | −$220 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$330 |
| Capital reserve (8% of rent) | −$330 |
| Property management | −$349 |
| Net operating income | $1,456 |
| Mortgage (principal + interest) | −$3,233 |
| PMI | −$304 |
| Cash flow | −$2,082 |
| Principal paid down (equity, not cash) | $411 |
| Rent | $4,125 |
| Vacancy (6%) | −$248 |
| Collected | $3,878 |
| Property tax Estimate | −$962 |
| Insurance Estimate | −$220 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$330 |
| Capital reserve (8% of rent) | −$330 |
| Net operating income | $1,804 |
| Mortgage (principal + interest) | −$2,927 |
| Cash flow | −$1,123 |
| Principal paid down (equity, not cash) | $372 |
| Rent | $4,125 |
| Vacancy (6%) | −$248 |
| Collected | $3,878 |
| Property tax Estimate | −$962 |
| Insurance Estimate | −$220 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$330 |
| Capital reserve (8% of rent) | −$330 |
| Property management | −$349 |
| Net operating income | $1,456 |
| Mortgage (principal + interest) | −$2,927 |
| Cash flow | −$1,472 |
| Principal paid down (equity, not cash) | $372 |
| Rent | $4,125 |
| Vacancy (6%) | −$248 |
| Collected | $3,878 |
| Property tax Estimate | −$962 |
| Insurance Estimate | −$220 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$330 |
| Capital reserve (8% of rent) | −$330 |
| Net operating income | $1,804 |
| Mortgage (principal + interest) | −$2,874 |
| Cash flow | −$1,070 |
| Principal paid down (equity, not cash) | $366 |
| Rent | $4,125 |
| Vacancy (6%) | −$248 |
| Collected | $3,878 |
| Property tax Estimate | −$962 |
| Insurance Estimate | −$220 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$330 |
| Capital reserve (8% of rent) | −$330 |
| Property management | −$349 |
| Net operating income | $1,456 |
| Mortgage (principal + interest) | −$2,874 |
| Cash flow | −$1,419 |
| Principal paid down (equity, not cash) | $366 |
| Rent | $4,125 |
| Vacancy (6%) | −$248 |
| Collected | $3,878 |
| Property tax Estimate | −$962 |
| Insurance Estimate | −$220 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$330 |
| Capital reserve (8% of rent) | −$330 |
| Net operating income | $1,804 |
| Mortgage (principal + interest) | −$2,744 |
| Cash flow | −$940 |
| Principal paid down (equity, not cash) | $349 |
| Rent | $4,125 |
| Vacancy (6%) | −$248 |
| Collected | $3,878 |
| Property tax Estimate | −$962 |
| Insurance Estimate | −$220 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$330 |
| Capital reserve (8% of rent) | −$330 |
| Property management | −$349 |
| Net operating income | $1,456 |
| Mortgage (principal + interest) | −$2,744 |
| Cash flow | −$1,289 |
| Principal paid down (equity, not cash) | $349 |
| Rent | $4,125 |
| Vacancy (6%) | −$248 |
| Collected | $3,878 |
| Property tax Estimate | −$962 |
| Insurance Estimate | −$220 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$330 |
| Capital reserve (8% of rent) | −$330 |
| Net operating income | $1,804 |
| Mortgage (principal + interest) | −$2,694 |
| Cash flow | −$890 |
| Principal paid down (equity, not cash) | $343 |
| Rent | $4,125 |
| Vacancy (6%) | −$248 |
| Collected | $3,878 |
| Property tax Estimate | −$962 |
| Insurance Estimate | −$220 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$330 |
| Capital reserve (8% of rent) | −$330 |
| Property management | −$349 |
| Net operating income | $1,456 |
| Mortgage (principal + interest) | −$2,694 |
| Cash flow | −$1,239 |
| Principal paid down (equity, not cash) | $343 |
Cash flow each year
Rents +3%/yr, costs +3.5%/yr. Red bars are months you'd cover out of pocket.
30 years
How those totals add up
- Your equity when you sell
- $1,254,894
- Rental profits, invested at 7%
- $18,760
Sells for $1,334,994 (value up 3% a year), minus 6% selling cost ($80,100). Rent paid down $495,000 of loan.
$16,971 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $544,276
- Monthly shortfalls, invested
- $1,170,703
$71,500 put into an index fund instead of the down payment and closing costs.
$255,817 you'd have paid in while the building lost money, invested instead.
Stocks come out $441,325 ahead after 30 years.
- Your equity when you sell
- $1,254,894
- Rental profits, invested at 7%
- $0
Sells for $1,334,994 (value up 3% a year), minus 6% selling cost ($80,100). Rent paid down $495,000 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $544,276
- Monthly shortfalls, invested
- $1,694,773
$71,500 put into an index fund instead of the down payment and closing costs.
$438,078 you'd have paid in while the building lost money, invested instead.
Stocks come out $984,154 ahead after 30 years.
- Your equity when you sell
- $1,232,079
- Rental profits, invested at 7%
- $23,900
Sells for $1,310,722 (value up 3% a year), minus 6% selling cost ($78,643). Rent paid down $486,000 of loan.
$21,282 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $534,380
- Monthly shortfalls, invested
- $1,106,230
$70,200 put into an index fund instead of the down payment and closing costs.
$238,302 you'd have paid in while the building lost money, invested instead.
Stocks come out $384,632 ahead after 30 years.
- Your equity when you sell
- $1,232,079
- Rental profits, invested at 7%
- $0
Sells for $1,310,722 (value up 3% a year), minus 6% selling cost ($78,643). Rent paid down $486,000 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $534,380
- Monthly shortfalls, invested
- $1,625,160
$70,200 put into an index fund instead of the down payment and closing costs.
$416,252 you'd have paid in while the building lost money, invested instead.
Stocks come out $927,462 ahead after 30 years.
- Your equity when you sell
- $1,254,894
- Rental profits, invested at 7%
- $64,674
Sells for $1,334,994 (value up 3% a year), minus 6% selling cost ($80,100). Rent paid down $440,000 of loan.
$52,338 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $962,950
- Monthly shortfalls, invested
- $706,115
$126,500 put into an index fund instead of the down payment and closing costs.
$144,605 you'd have paid in while the building lost money, invested instead.
Stocks come out $349,498 ahead after 30 years.
- Your equity when you sell
- $1,254,894
- Rental profits, invested at 7%
- $8
Sells for $1,334,994 (value up 3% a year), minus 6% selling cost ($80,100). Rent paid down $440,000 of loan.
$8 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $962,950
- Monthly shortfalls, invested
- $1,184,279
$126,500 put into an index fund instead of the down payment and closing costs.
$291,506 you'd have paid in while the building lost money, invested instead.
Stocks come out $892,327 ahead after 30 years.
- Your equity when you sell
- $1,232,079
- Rental profits, invested at 7%
- $74,709
Sells for $1,310,722 (value up 3% a year), minus 6% selling cost ($78,643). Rent paid down $432,000 of loan.
$59,341 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $945,442
- Monthly shortfalls, invested
- $655,820
$124,200 put into an index fund instead of the down payment and closing costs.
$132,446 you'd have paid in while the building lost money, invested instead.
Stocks come out $294,474 ahead after 30 years.
- Your equity when you sell
- $1,232,079
- Rental profits, invested at 7%
- $647
Sells for $1,310,722 (value up 3% a year), minus 6% selling cost ($78,643). Rent paid down $432,000 of loan.
$647 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $945,442
- Monthly shortfalls, invested
- $1,124,587
$124,200 put into an index fund instead of the down payment and closing costs.
$272,984 you'd have paid in while the building lost money, invested instead.
Stocks come out $837,304 ahead after 30 years.
- Your equity when you sell
- $1,254,894
- Rental profits, invested at 7%
- $103,045
Sells for $1,334,994 (value up 3% a year), minus 6% selling cost ($80,100). Rent paid down $412,500 of loan.
$78,222 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,172,287
- Monthly shortfalls, invested
- $537,098
$154,000 put into an index fund instead of the down payment and closing costs.
$104,623 you'd have paid in while the building lost money, invested instead.
Stocks come out $351,445 ahead after 30 years.
- Your equity when you sell
- $1,254,894
- Rental profits, invested at 7%
- $4,388
Sells for $1,334,994 (value up 3% a year), minus 6% selling cost ($80,100). Rent paid down $412,500 of loan.
$4,203 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,172,287
- Monthly shortfalls, invested
- $981,272
$154,000 put into an index fund instead of the down payment and closing costs.
$229,836 you'd have paid in while the building lost money, invested instead.
Stocks come out $894,276 ahead after 30 years.
- Your equity when you sell
- $1,232,079
- Rental profits, invested at 7%
- $115,641
Sells for $1,310,722 (value up 3% a year), minus 6% selling cost ($78,643). Rent paid down $405,000 of loan.
$86,228 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,150,973
- Monthly shortfalls, invested
- $493,134
$151,200 put into an index fund instead of the down payment and closing costs.
$94,667 you'd have paid in while the building lost money, invested instead.
Stocks come out $296,388 ahead after 30 years.
- Your equity when you sell
- $1,232,079
- Rental profits, invested at 7%
- $6,837
Sells for $1,310,722 (value up 3% a year), minus 6% selling cost ($78,643). Rent paid down $405,000 of loan.
$6,427 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,150,973
- Monthly shortfalls, invested
- $927,160
$151,200 put into an index fund instead of the down payment and closing costs.
$214,097 you'd have paid in while the building lost money, invested instead.
Stocks come out $839,218 ahead after 30 years.
Future dollars. At 3% inflation, divide year-30 figures by about 2.4 for today's buying power. Rental profits are assumed invested, not spent.
30 years: this property vs. the same money in stocks
Year 30 (loan paid off): property $1.27M, stocks $1.71M. Stocks win.
Year 30 (loan paid off): property $1.25M, stocks $2.24M. Stocks win.
Year 30 (loan paid off): property $1.26M, stocks $1.64M. Stocks win.
Year 30 (loan paid off): property $1.23M, stocks $2.16M. Stocks win.
Year 30 (loan paid off): property $1.32M, stocks $1.67M. Stocks win.
Year 30 (loan paid off): property $1.25M, stocks $2.15M. Stocks win.
Year 30 (loan paid off): property $1.31M, stocks $1.60M. Stocks win.
Year 30 (loan paid off): property $1.23M, stocks $2.07M. Stocks win.
Year 30 (loan paid off): property $1.36M, stocks $1.71M. Stocks win.
Year 30 (loan paid off): property $1.26M, stocks $2.15M. Stocks win.
Year 30 (loan paid off): property $1.35M, stocks $1.64M. Stocks win.
Year 30 (loan paid off): property $1.24M, stocks $2.08M. Stocks win.
Comparable rentals
Nearby rentals RentCast matched to each unit type, as of 2026-10-05. The estimate above is RentCast's, weighted toward the closest matches.
3 bed / 1 bath estimate $2,450/mo · range $2,150–$2,725
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 2199 Sw 8th St, # 237, Grand Rapids 55744 | $2,275 | 3 / 2 | 5.0 mi | 73% |
| 2199 Sw 8th St, # 437, Grand Rapids 55744 | $2,295 | 3 / 2 | 5.0 mi | 73% |
| 2199 Sw 8th St, # 337, Grand Rapids 55744 | $2,275 | 3 / 2 | 5.0 mi | 73% |
| 2199 Sw 8th St, # 335, Grand Rapids 55744 | $2,275 | 3 / 2 | 5.0 mi | 73% |
| 2199 Sw 8th St, # 235, Grand Rapids 55744 off market | $2,275 | 3 / 2 | 5.0 mi | 73% |
| 2199 Sw 8th St, # 112, Grand Rapids 55744 off market | $2,195 | 3 / 2 | 5.0 mi | 73% |
| 1607 E Hwy, 169, Grand Rapids 55744 off market | $1,375 | 4 / 1 | 4.5 mi | 67% |
| 2199 Sw 8th St, # 322, Grand Rapids 55744 off market | $1,825 | 2 / 1 | 5.0 mi | 66% |
| 2199 Sw 8th St, # 422, Grand Rapids 55744 | $1,875 | 2 / 1 | 5.0 mi | 66% |
| 2199 Sw 8th St, # 222, Grand Rapids 55744 | $1,825 | 2 / 1 | 5.0 mi | 66% |
1 bed / 1 bath estimate $1,675/mo · range $1,675–$1,675
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 2199 Sw 8th St, # 220, Grand Rapids 55744 off market | $1,625 | 1 / 1 | 5.0 mi | 75% |
| 2199 Sw 8th St, # 420, Grand Rapids 55744 | $1,675 | 1 / 1 | 5.0 mi | 75% |
| 2199 Sw 8th St, # 320, Grand Rapids 55744 | $1,625 | 1 / 1 | 5.0 mi | 75% |
| 2199 Sw 8th St, # 104, Grand Rapids 55744 | $1,595 | 1 / 1 | 5.0 mi | 75% |
| 2199 Sw 8th St, # 304, Grand Rapids 55744 | $1,525 | 1 / 1 | 5.0 mi | 75% |
| 2199 Sw 8th St, # 404, Grand Rapids 55744 | $1,595 | 1 / 1 | 5.0 mi | 75% |
| 2199 Sw 8th St, # 204, Grand Rapids 55744 off market | $1,525 | 1 / 1 | 5.0 mi | 75% |
| 2199 Sw 8th St, # 327, Grand Rapids 55744 | $1,525 | 1 / 1 | 5.0 mi | 74% |
| 2199 Sw 8th St, # 325, Grand Rapids 55744 | $1,525 | 1 / 1 | 5.0 mi | 74% |
| 2199 Sw 8th St, # 427, Grand Rapids 55744 | $1,575 | 1 / 1 | 5.0 mi | 74% |
On the maps, this property and comparable rentals. Comparable rentals and rent estimate: RentCast. Rents are asking rents from listings; check them against the actual leases.
Red flags and opportunities
Watch for
- highThird unit is a commercial space with no tenant, rent or use history. It is the missing income piece. Listing says: with a separate unit for a business · AI review
- highNo rents, lease terms or expenses given. 'Ready to cash flow' is a claim, not income. Listing says: ready to cash flow · AI review
- mediumCouldn't match this address to a county parcel record, so taxes and unit count are unverified. Public record: County parcels: no match for 32969 LAPLANT RD
- mediumAsking is $210,962 above the price where cash flow breaks even ($339,038) at the default scenario. Based on: Derived: price $550,000 vs. break-even $339,038
- mediumSeller floats a long-term lease. That hints the sale is not moving at this price. Listing says: The seller would consider a long-term lease as well. · AI review
- mediumUnit count and taxes unverified. Commercial portions may be taxed at a higher rate. Based on: data: rule_flags · AI review
Opportunities
- Long time on market: room to negotiate. Based on: Listing data: 605 days on market
- Large open commercial space with a full kitchen and hood could suit a food, event or retail tenant, or an owner-user. Based on: photo 5 · AI review
- Highway visibility and parking on 5 acres could support business rent. Listing says: There is incredible visibility from Hwy 169 and ample parking. · AI review
- 605 days on market gives room to negotiate hard. Based on: data: listing.days_on_market · AI review
Questions for the agent
- What are the current rents and lease terms for each residential unit?
- Has the commercial space ever had a paying tenant, and at what rent?
- What is the zoning, and does it allow commercial use? Is the kitchen licensed?
- What are the real property taxes and heat and electric costs? Are units separately metered?
- How old is the roof, and was the work permitted?
- Why has it sat 605 days, and have there been offers?
Bottom line
Priced about $211K above where the numbers break even, so it only works if the commercial space brings real rent or you want it for your own business. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Estimateestimate. No tax record found; 2.1% of price. | $11,550 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,646 |
| Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid | $170 |
| Heat / mo Assumptionassumption. tenants pay heat; confirm with the agent | $0 |
| Lawn care / mo Assumptionassumption. $120/mo for 6 months, spread over 12; no snow removal | $60 |
| Repairs / capital reserve Rulerule. base rate | 8% / 8% |
Price history Realtor.com
On the market since 2025-02-07 (605 days); last sold for $212,000 on 2021-02-16.
| Date | Event | Price |
|---|---|---|
| Removed | $450,000 | |
| Price changed | $550,000 | |
| Listed | $550,000 | |
| Listed | $450,000 | |
| Removed | — | |
| Listed | $439,900 | |
| Removed | $450,000 | |
| Listed | $450,000 | |
| Sold public record | $212,000 | |
| Sold public record | $50,000 | |
| Removed | $299,900 | |
| Listed | $299,900 | |
| Sold public record | $120,000 |
Crime, rental-license and vacant-building records are only available for St. Paul and Minneapolis so far. Check with Grand Rapids on rental licensing before you buy.