For Sale
515 Locust Street, Kalamazoo, MI 49007
$244,900
MLS # 26021664 (Michigan Regional Information Center (MichRIC))
5 unitsBuilt 18600.2 acres
1 / 13
Listing Description
5 unit Investment opportunity in the Vine Neighborhood, downtown Kalamazoo. Large lot with plenty of off-street parking. Close to WMU, Kalamazoo College and central business district. Three one-bedroom apartments and two studio apartments. Newer roof. Five furnaces and one water heater were recently installed and gas meters split.
Source: SparkMLS
About this home
Listed at $244,900.
Estimated annual property tax: $5,980, or about $498 monthly. Tax figure is from the MLS listing record; verify with the county treasurer for the most current amount.
Electric service is provided by Consumers Energy Company.
Listing Property Details
Property TypeMulti Family
Property Subtype5+ Units
Bathrooms0
Lot Size0.2 acres
Year Built1860
Location
CityKalamazoo
MunicipalityKalamazoo City
Zip Code49007
CountyKalamazoo
School DistrictKalamazoo
Construction & Systems
ConstructionWood Siding
BasementOther
HeatingForced Air
SewerPublic Sewer
UtilitiesNatural Gas Available, Electricity Available, Cable Available, Natural Gas Connected, Electricity Connected, Cable Connected
Sale & Financing
Listed5/11/2026
Terms AcceptedVA Loan, Cash, Conventional
Source: SparkMLS
Tax Information
Annual Tax$5,980
Tax Year2025
Assessed Value$88,835
Parcel #06-21-236-409
Source: SparkMLS
Legal Description
50308 WELCHS ADDITION LOT 409.
Property Records
FEMA Flood Zone: Zone X — Minimal flood risk
Source: FEMA NFHLUSDA Rural Development: Not Eligible
Verify eligibility at USDAListed by Joseph Lukeman
Lukeman Group LLC
Frequently Asked Questions about 515 Locust Street, Kalamazoo, MI 49007
What school district is 515 Locust Street, Kalamazoo, MI 49007 in?
Per MLS# 26021664, this property is served by Kalamazoo. In Michigan, school district boundaries are set by the state and do not always follow city limits.
Can I use FHA or VA financing for this property?
Per MLS# 26021664, the seller has indicated this property accepts the following financing types: VA Loan, Cash, Conventional. Financing acceptance is subject to change — confirm with the listing agent.
How much are property taxes for this home?
Per MLS# 26021664, the most recent reported annual property tax for 515 Locust Street, Kalamazoo, MI 49007 is $5,980 (2025). Michigan property taxes are based on a property's taxable value multiplied by the local millage rate. Primary residences qualify for a homestead exemption that lowers the rate.
Is 515 Locust Street, Kalamazoo, MI 49007 eligible for USDA financing?
Per USDA Rural Development boundary data, 515 Locust Street, Kalamazoo, MI 49007 is not in an eligible area. USDA eligibility is based on property location — properties within designated urban zones are excluded. Other low-down-payment options (FHA, VA) may still be available.
What is the FEMA flood zone designation for this property?
Per FEMA's National Flood Hazard Layer, 515 Locust Street, Kalamazoo, MI 49007 is in flood zone X (minimal risk). Flood insurance is not typically required in this zone but may still be advisable. FEMA flood maps are updated periodically — verify the current designation at msc.fema.gov.
Who are the utility providers for this property?
Per Michigan Public Service Commission service territory data: Electric: Consumers Energy Company. Gas: Consumers Energy Company. Sewer: Public Sewer. Confirm service details directly with providers.
How safe is this area?
For crime and public safety data, we recommend inquiring directly with the Kalamazoo City police department or the Kalamazoo County sheriff's office.
Map
Mortgage Calculator
$
%
$
$
$
Monthly payment$1,588
Principal & interest$1,588
Estimate only. Does not include PMI or other fees. Consult a lender for exact rates.
Utilities
Consumers Energy Company
Investor-Owned
Consumers Energy Company
Investor-Owned
MI Public Service Commission service territory boundaries.
Property
515 Locust Street, Kalamazoo, MI 49007
View full property history →
Municipality
Kalamazoo
View all listings →
Get email alerts for new listings near 515 Locust Street
We'll notify you when something hits the market in Kalamazoo or nearby.
Munro Real Estate · MI Broker #6502405404 · No spam, one-click unsubscribe.