Updated Two-Unit
For Sale
$125,000
1209 3rd St, Jackson, MI 49203
Vacant duplex with refreshed flooring and a recently installed flat porch roof.
Property Size1,540 SF
Price / SF$81.17
Days on Market51
Property Features for 1209 3rd St
General Information
Standard status
Active
Size
1,540 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1890
Buildings
1
Listing Agency:
Coldwell Banker Morehart Realty
Listed By:
Beyond MI Realty
(989) 214-2240
Source:
Beyondmirealty
Added: Sep 11
Changed: Oct 28
Last Checked: Oct 30 at 1:56PM
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 Coldwell Banker Morehart Realty
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Investment Insights
Based on property information with market context.
Built in 1890, this two-unit duplex has undergone recent updates that include new flooring and additional unspecified improvements. A flat roof was also recently installed over the porch. The property is currently vacant, allowing the next owner to establish occupancy and leasing arrangements. Located at 1209 3rd St in Jackson, Michigan, the property has a BikeScore of 68 and a WalkScore of 49, reflecting a bikeable setting with car-dependent walk access.
Key Highlights
- Two‑unit duplex built in 1890
- Recently updated with new flooring
- New flat roof over the porch
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,171
Cap Rate
8.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$203,420
$203.4K
Cap Rate 7%
$145,300
$145.3K
Cap Rate 9%
$113,011
$113.0K
Market Conditions
NOI Build-Up for 1,540 SF
Gross rent
$15.7K $10.20/SF
− Vacancy
−$1.2K −$0.77/SF
EGI
$14.5K $9.44/SF
− OpEx
−$4.4K −$2.83/SF
NOI
$10.2K $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 Rate 5%
$203,420
Cap Rate 7%
$145,300
Cap Rate 9%
$113,011
Alternative Uses
Best Use
Multifamily LT 5
$145.3K
$127.1K – $169.5K
NOI $10,171 @ 7.0% cap · market cap 8.14%
Second Best
Apartment 5plus
$136.5K
$119.4K – $159.2K
NOI $9,554 @ 7.0% cap · market cap 7.64%
Theoretical Best
Office A
$245.8K
$215.1K – $286.8K
NOI $17,209 @ 7.0% cap · market cap 13.77%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
294
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Vacant duplex with refreshed flooring and a recently installed flat porch roof.
Where is this duplex located?
The property is located at 1209 3rd St Jackson, MI.
What is the asking price?
The asking price for this property is $125,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1890; Recently updated with new flooring; New flat roof over the porch
