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

    1611 River Ter East Lansing, MI 48823

    View on Map
    Sponsored
    For Sale
    $229,000

    MULTI_FAMILY - Ranch - East Lansing, MI

    Type:Single Family Residence
    Lot size:
    1.21 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 28 at 1:06 am

    Property Features for 1611 River Ter

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Single Family Residence
    Standard status
    Active
    Spa
    1
    Rooms
    Bedroom 4, Bathroom 3, Bathroom 1, Bathroom 2, Bedroom 1, Bathroom 4, Bedroom 2, Bedroom 3
    Bedrooms
    4
    Bathrooms
    4
    APN
    33-02-02-20-103-024
    Parking
    8
    Parking features
    Assigned, Garage, Driveway
    Patio and Porch features
    Porch
    Basement
    Full, Walk-Out Access
    Appliances
    Gas Water Heater, Electric Water Heater
    Lot size
    1.21 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Hot Water(Heating), Natural Gas, Forced Air
    Water source
    Public
    Water front features
    River Front
    Water front
    1

    Building Details

    Year built
    1941
    Floors in Building
    1
    Number of units
    3
    Flooring type
    Carpet, Laminate, Hardwood
    Building materials
    Aluminum Siding
    Roof type
    Shingle
    Architectural style
    Ranch

    We can help!

    Listing Contact
    Christopher Silker
    Christopher Silker

    Keller Williams Realty

    Listing agent Christopher Silker License #6506046369

    Listing date Mar 27, 2026

    MLS# 294547

    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

    Multi-Unit Property Near Michigan State

    This multi-unit property, located steps from Michigan State University in East Lansing, Michigan, offers investment potential. Situated in Meridian Township, the property benefits from more favorable rental licensing and lower property taxes. The main level features a 3-bedroom unit with a spacious living room, a full bath, and a kitchen. The main level unit also provides access to a large unfinished basement. Note that the property is not zoned for multi-unit housing; a rental license from Meridian Township would be for a single-family home only. The lot size is 1.21 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    East Lansing
    County
    Ingham
    State
    Michigan
    Longitude
    -84.455568
    Latitude
    42.723189

    Nearby Similar for Sale

    • $714,900
      11,715 SF

      East Lansing Commercial Ranch Property

      Versatile East Lansing property suitable for various commercial or community uses.
      1635 Coolidge Rd, East Lansing, MI 48823
      View Details
    • New
      $419,900
      2,487 SF

      East Lansing Office Investment Opportunity

      Well-maintained office building with up to 12 individual spaces.
      3448 E Lake Lansing Rd, East Lansing, MI 48823
      View Details
    • $89,900
      0.40 Acres

      Land in East Lansing, MI

      Land available for sale in East Lansing, Michigan.
      2127 Isaac Ln, East Lansing, MI 48823
      View Details
    • Contact for pricing

      East Lansing Office Suites Near MSU

      Finely finished office suites near MSU at Hagadorn and Grand River.
      1504 E Grand River Ave, East Lansing, MI 48823
      View Details
    • Contact for pricing
      7,500 SF

      Medical/Office Space Near MSU

      Corner location near MSU and US 127 with free parking.
      221 W Lake Lansing Rd, East Lansing, MI 48823
      View Details
    • Contact for pricing

      Professional Office Building Near MSU

      Office building near Michigan State University with fiber internet access.
      4572 S Hagadorn Rd, East Lansing, MI 48823
      View Details
    • Contact for pricing

      Asher Court Office Park Offices

      Office suites available in Asher Court Office Park near MSU.
      231 W Lake Lansing Rd, East Lansing, MI 48823
      View Details
    • Contact for pricing

      Harrison Crossings Office Building

      Office building with visibility, ample parking, and convenient location.
      780 W Lake Lansing Rd, East Lansing, MI 48823
      View Details
    • Contact for pricing

      East Lansing Office Space Available

      Office space for sale near MSU campus and US-127.
      790 West Lake Lansing Rd, East Lansing, MI 48823
      View Details
    • Contact for pricing
      95,421 SF

      Noca Lofts

      Student Housing at Michigan State University
      16820 Chandler Rd, East Lansing, MI 48823
      View Details
    • Contact for pricing

      Class A Office Space Available

      Class A office building with suites available near US-127.
      139 W Lake Lansing Rd, East Lansing, MI 48823
      View Details
    • Contact for pricing

      East Lansing Office Space Available

      Office suite for sale in East Lansing near MSU.
      740 W Lake Lansing Rd, East Lansing, MI 48823
      View Details

    FAQs

    What type of property is this?
    Triplex - Investment opportunity near Michigan State University with strong income potential.
    Where is this triplex located?
    The property is located at 1611 River Ter East Lansing, MI.
    What is the asking price?
    The asking price for this property is $229,000.
    What are key features of this property?
    This property features: - Prime location steps from Michigan State University.; - Multi-unit property with strong income potential.; - Located in Meridian Township with favorable rental licensing and lower property taxes.
    (517) 853-1200
    Request Owner's contact information
    1611 River Ter East Lansing, MI 48823
    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.
    1611 River Ter
    East Lansing, MI 48823
    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
    1611 River Ter East Lansing, MI 48823
    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
    Christopher Silker
    Christopher Silker
    Real Estate License ID: 6506046369
    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!