Two-Unit Duplex with
For Sale
$124,900
1120 Alsdorf Street, Lansing, MI 48910
One residence is vacant while the other is occupied, offering flexibility for an owner-occupant or rental operator.
Property Size1,342 SF
Days on Market274
Property Features for 1120 Alsdorf Street
General Information
Standard status
Active
Size
1,342 SF
Property subtype
Multi-Family
Amenities
Cable Ready
Forced Air
Natural Gas
Water Heater
Porch, High Speed Internet Available, Cable Available, Shingle
Building Details
Building Size
1,342 SF
Year Built
1912
Listing Agency:
RE/MAX Real Estate Professionals
(517) 285-3017
Listed By:
Timothy Sabrosky
Source:
Kw
Added: Nov 30, 2025
Changed: Aug 31
Last Checked: Aug 31 at 12:53AM
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 Real Estate Professionals
Investment Insights
Based on property information with market context.
Built in 1912, this duplex contains two residential units with functional interiors and natural light. One unit is currently vacant, while the second is occupied, creating a property configuration that supports either owner occupancy with rental income or continued use as a two-unit rental asset. Interior systems include forced-air heating, natural gas service, and a water heater. Cable readiness and high-speed internet availability are also noted, while the exterior includes a porch and shingle construction.
The property is located on Alsdorf Street in Lansing, near shopping, restaurants, and public transportation. The combination of two units, differing occupancy status, and established residential improvements provides a straightforward format for evaluating both personal use and income-producing operation.
The property is located on Alsdorf Street in Lansing, near shopping, restaurants, and public transportation. The combination of two units, differing occupancy status, and established residential improvements provides a straightforward format for evaluating both personal use and income-producing operation.
Key Highlights
- Two‑unit duplex built in 1912
- One unit vacant and one unit occupied
- Forced‑air heating and natural gas
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
$10,884
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
8.71%
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%
$217,680
$217.7K
Cap Rate 7%
$155,486
$155.5K
Cap Rate 9%
$120,933
$120.9K
Market Conditions
NOI Build-Up for 1,342 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
$21.1K $15.72/SF
− Vacancy
−$1.3K −$0.97/SF
EGI
$19.8K $14.75/SF
− OpEx
−$8.9K −$6.64/SF
NOI
$10.9K $8.11/SF
Area
Lansing, MI
Vacancy
6.20%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
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%
$217,680
Cap Rate 7%
$155,486
Cap Rate 9%
$120,933
Alternative Uses
Best Use
Multifamily LT 5
$173.2K
$151.5K – $202.0K
NOI $12,121 @ 7.0% cap · market cap 9.70%
Second Best
Apartment 5plus
$155.5K
$136.1K – $181.4K
NOI $10,884 @ 7.0% cap · market cap 8.71%
Theoretical Best
Office A
$276.2K
$241.7K – $322.3K
NOI $19,337 @ 7.0% cap · market cap 15.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
187
Businesses Nearby
Explore this area
Business Placement
Demographics for 48910, MI
33,702
Population
17,119
Households
2
Avg Household Size
35
Median Age
32%
College-Educated
91%
High-School Grad
14.2 sq mi
ZIP Area
2,373
Density / Sq Mi
$52,154
Median Household Income
$36,643
Median Earnings
$1,003
Median Rent
$117,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - One residence is vacant while the other is occupied, offering flexibility for an owner-occupant or rental operator.
Where is this duplex located?
The property is located at 1120 Alsdorf Street Lansing, 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: Two‑unit duplex built in 1912; One unit vacant and one unit occupied; Forced‑air heating and natural gas
