Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    121 Lathrop St Lansing, MI 48912

    View on Map
    Sponsored
    For Sale
    $99,900

    MULTI_FAMILY - Lansing, MI

    Lot size:
    0.20 Acres
    Days on Market:
    26
    Last Refresh:
    Mar 17 at 6:06 am

    Property Features for 121 Lathrop St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bedroom 1, Bedroom 2
    Bedrooms
    2
    APN
    33-01-01-15-426-032
    Parking features
    Alley, Unimproved
    Patio and Porch features
    Porch
    Exterior features
    Private Yard
    Appliances
    Gas Water Heater
    Lot size
    0.20 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Hot Water(Heating)
    Water source
    Public

    Building Details

    Year built
    1885
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Vinyl
    Building materials
    Shingle Siding
    Roof type
    Shingle

    We can help!

    Listing Contact
    Rose Gedeon

    Home Towne Realty Group (517) 372-2273

    Listing agent Rose Gedeon (517) 803-7573 License #6501401379

    Listing date Feb 19, 2026

    MLS# 293669 Listing URL

    Copyright © 2026 Greater Lansing Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Lansing Multifamily Investment Opportunity

    This two-unit residential property is located in Lansing, Michigan. Each unit features one bedroom and one bathroom. The bottom unit is currently rented for $800. The property has fresh flooring. This property is suitable for investors or owner-occupants and is licensed. The lot size is 0.2 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lansing
    County
    Eaton
    State
    Michigan
    Longitude
    -84.528154
    Latitude
    42.732844

    Nearby Similar for Sale

    • New
      $652,000
      14,388 SF

      Historic Building in REO Town

      Unique commercial building with redevelopment potential in Lansing, Michigan.
      1023 S Washington Ave, Lansing, MI 48910
      View Details
    • $490,000
      12,440 SF

      Move-in Ready Lansing Church Facility

      12,440 sq ft church with sanctuary, classrooms, and parking.
      1819 W Willow St, Lansing, MI 48915
      View Details
    • $240,000
      2,331 SF

      Fairview Commercial Building on M-72

      2,330 sq ft commercial building with highway frontage.
      1956 E Miller Rd, Fairview, MI 48621
      View Details
    • $339,900
      4,631 SF

      Remodeled Firehouse with Living Units

      Historic firehouse converted to office and residential units.
      230 Bingham St, Lansing, MI 48912
      View Details
    • $130,000
      1,439 SF

      Versatile Commercial Building in Lansing

      Commercial building suitable for office or professional use with parking.
      4108 S Cedar St, Lansing, MI 48910
      View Details
    • $77,000
      1,680 SF

      Old Town Lansing Church Property

      Church property in Old Town Lansing, ideal for various ventures.
      1406 Ballard St, Lansing, MI 48906
      View Details
    • $279,000
      2,500 SF

      Lansing Commercial Income Property

      Two-unit commercial property with high traffic location in Lansing, MI.
      3318-3320 S Cedar St, Lansing, MI 48910
      View Details
    • $1,950,000
      10,200 SF

      Corporate Headquarters Near Airport

      Two-story office headquarters with hangar, near Capital Region Airport.
      3900 Capital City Blvd, Lansing, MI 48906
      View Details
    • $119,900
      1,776 SF

      Lansing Commercial Property with IND-2 Zoning

      Commercial property with IND-2 zoning, suitable for diverse uses.
      901 Call St, Lansing, MI 48906
      View Details
    • New
      $1,950,000
      25,986 SF

      Grand Riverfront Commercial Opportunity

      Over 25,000 SF of flexible space in Lansing, MI.
      1212 S Washington Ave Ave, Lansing, MI 48910
      View Details
    • New
      $210,000
      1,759 SF

      Lansing Commercial Building with Lifts

      Turnkey auto shop with lifts on a high-traffic corner.
      226 W Cesar E Chavez Ave, Lansing, MI 48906
      View Details
    • $295,000
      2,727 SF

      Historic Mixed-Use Building in Lansing

      Versatile property with office suite and residential unit in Old Town.
      1031 N Washington Ave, Lansing, MI 48906
      View Details

    FAQs

    What type of property is this?
    Duplex - Two-unit residential property in Lansing, Michigan. Great investment potential.
    Where is this duplex located?
    The property is located at 121 Lathrop St Lansing, MI.
    What is the asking price?
    The asking price for this property is $99,900.
    What are key features of this property?
    This property features: - Two-unit home suitable for investors or owner-occupants.; - Bottom unit currently rented for $800, providing immediate income.; - Each unit contains 1 bed and 1 bath.
    (517) 372-2273
    Request Owner's contact information
    121 Lathrop St Lansing, MI 48912
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    121 Lathrop St
    Lansing, MI 48912
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    121 Lathrop St Lansing, MI 48912
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Rose Gedeon
    Real Estate License ID: 6501401379
    (517) 372-2273 (517) 803-7573
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!