3-Unit Triplex with Detached
New
For Sale
$349,900
10260 Fairway Drive, Jerome, MI 49249
MULTIFAMILY, 1 Story, Jerome, MI
Property Size1,456 SF
Lot Size0.43 Acres
Price / SF$240.32
Days on Market5
Property Features for 10260 Fairway Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 3, Bedroom 2, Bedroom 7, Bedroom 5, Bathroom 3, Bathroom 2, Bedroom 6, Bathroom 4, Basement, Bedroom 1, Bathroom 1
Patio and Porch features
Deck
Exterior features
Deck
Appliances
Dishwasher, Dryer, Microwave, Range/Oven, Refrigerator, Washer, Water Softener - Leased
Subdivision
Fairway Hills
Lot features
On Golf Course, Subdivision
Elementary school district
Addison Community Schools
Middle school district
Addison Community Schools
High school district
Addison Community Schools
Standard status
Active
APN
30 04 110 001 365
Size
1,456 SF
Lot size
0.43 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
3783
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Private
Amenities
lake access
Building Details
Year built
1995
Floors in Building
1
Number of units
3
Architectural style
Other
Listing Agency:
Goedert Real Estate - Adr
(517) 265-9644
Listed By:
Brad Fowle Sr. · License #6501187973
(517) 403-6449
Added: Oct 12
Changed: Oct 15
Last Checked: Oct 16 at 6:06AM
MLS# 50224683
Copyright © 2026 Lenawee County 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.
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Investment Insights
Based on property information with market context.
This triplex contains 1,456 square feet across three units. Two units each have two bedrooms and one bathroom; the third has three bedrooms and two bathrooms. The property includes a deck and a detached four-car garage. Built in 1995, it sits on a 0.43-acre double lot along a paved road.
Residents have access to Lake LeAnn, and the property offers a view of the Lake LeAnn golf course. The three-unit layout combines two smaller residences with a larger walkout-level unit.
Residents have access to Lake LeAnn, and the property offers a view of the Lake LeAnn golf course. The three-unit layout combines two smaller residences with a larger walkout-level unit.
Key Highlights
- Three units: two 2‑bedroom, 1‑bath units and one 3‑bedroom, 2‑bath unit
- 1,456 square feet on a 0.43‑acre double lot
- Detached 4‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,928
Cap Rate
2.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$198,560
$198.6K
Cap Rate 7%
$141,829
$141.8K
Cap Rate 9%
$110,311
$110.3K
Market Conditions
NOI Build-Up for 1,456 SF
Gross rent
$14.9K $10.20/SF
− Vacancy
−$668 −$0.46/SF
EGI
$14.2K $9.74/SF
− OpEx
−$4.3K −$2.92/SF
NOI
$9.9K $6.82/SF
Area
Hillsdale County, MI
Vacancy
4.50%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$198,560
Cap Rate 7%
$141,829
Cap Rate 9%
$110,311
Alternative Uses
Best Use
Multifamily LT 5
$141.8K
$124.1K – $165.5K
NOI $9,928 @ 7.0% cap · market cap 2.84%
Second Best
Apartment 5plus
$131.8K
$115.3K – $153.8K
NOI $9,225 @ 7.0% cap · market cap 2.64%
Theoretical Best
Specialty Retail
$231.3K
$202.4K – $269.9K
NOI $16,194 @ 7.0% cap · market cap 4.63%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
30
Businesses Nearby
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Business Placement
Demographics for 49249, MI
3,269
Population
1,754
Households
1.9
Avg Household Size
48
Median Age
27%
College-Educated
92%
High-School Grad
29.4 sq mi
ZIP Area
111
Density / Sq Mi
$84,507
Median Household Income
$52,181
Median Earnings
$862
Median Rent
$220,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Triplex - Three residential units offer distinct bedroom and bath configurations, with lake access and a detached garage.
Where is this triplex located?
The property is located at 10260 Fairway Drive Jerome, MI.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Three units: two 2‑bedroom, 1‑bath units and one 3‑bedroom, 2‑bath unit; 1,456 square feet on a 0.43‑acre double lot; Detached 4‑car garage
