Duplex with Detached
For Sale
$124,900
Pending
1004 S Jackson St, Jackson, MI 49203
Two-unit property with separate utilities and outdoor space for tenants.
Property Size1,278 SF
Days on Market49
Property Features for 1004 S Jackson St
General Information
Standard status
Pending
Size
1,278 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1920
Listing Agency:
RE/MAX Mid-Michigan R.E.
(517) 783-6687
Listed By:
DEANN E GUMBERT · License #6501311086
Source:
Metrodetroithomeguide
Added: Jul 13
Changed: Aug 28
Last Checked: Aug 25 at 7:12AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Mid-Michigan R.E.
Investment Insights
Based on property information with market context.
Located at 1004 S Jackson St in Jackson, Michigan, this duplex was built in 1920 and includes 1,278 square feet of property area. Replacement windows have been installed, and separate gas and electric utilities allow tenants to handle those expenses directly.
The property includes a detached two-car garage and a backyard with additional outdoor space. Its two-unit configuration, utility separation, and established physical improvements provide a straightforward residential income property setup.
The property includes a detached two-car garage and a backyard with additional outdoor space. Its two-unit configuration, utility separation, and established physical improvements provide a straightforward residential income property setup.
Key Highlights
- Duplex located at 1004 S Jackson St, Jackson, MI 49203
- Built in 1920 with replacement windows
- Separate gas and electric utilities
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$8,441
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.76%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$168,820
$168.8K
Cap Rate 7%
$120,586
$120.6K
Cap Rate 9%
$93,789
$93.8K
Market Conditions
NOI Build-Up for 1,278 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$13.0K $10.20/SF
− Vacancy
−$978 −$0.77/SF
EGI
$12.1K $9.44/SF
− OpEx
−$3.6K −$2.83/SF
NOI
$8.4K $6.60/SF
Area
Jackson County, MI
Vacancy
7.50%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$168,820
Cap Rate 7%
$120,586
Cap Rate 9%
$93,789
Alternative Uses
Best Use
Multifamily LT 5
$120.6K
$105.5K – $140.7K
NOI $8,441 @ 7.0% cap · market cap 6.76%
Second Best
Apartment 5plus
$113.3K
$99.1K – $132.2K
NOI $7,929 @ 7.0% cap · market cap 6.35%
Theoretical Best
Office A
$204.0K
$178.5K – $238.0K
NOI $14,281 @ 7.0% cap · market cap 11.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
671
Businesses Nearby
Explore this area
Business Placement
Demographics for 49203, MI
37,269
Population
16,999
Households
2.2
Avg Household Size
39
Median Age
23%
College-Educated
93%
High-School Grad
26.5 sq mi
ZIP Area
1,406
Density / Sq Mi
$55,689
Median Household Income
$37,096
Median Earnings
$992
Median Rent
$150,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with separate utilities and outdoor space for tenants.
Where is this duplex located?
The property is located at 1004 S Jackson St Jackson, MI.
What is the asking price?
The asking price for this property is $124,900.
What are key features of this property?
This property features: Duplex located at 1004 S Jackson St, Jackson, MI 49203; Built in 1920 with replacement windows; Separate gas and electric utilities
