Remodeled Two-Story Apartment
121 S COURT Street, Howell, MI 48843
For Sale
$650,000
Multifamily, 2 Story, Howell, MI
Property Size5,472 SF
Lot Size0.11 Acres
Price / SF$118.79
Days on Market1022
Property Features for 121 S COURT Street
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Subdivision
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Heating system
Water source
Building Details
Year built
Floors in Building
Number of units
Building materials
Architectural style
Listing Agency:
NextHome Statewide Real Estate
Listed By:
Aaren D Currie · License MI #6502115284
(517) 546-9060
Added: Jan 24, 2024
Changed: Oct 24
Last Checked: Nov 10 at 12:06PM
MLS# 20240004604
Copyright © 2026 Realcomp Limited II. 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 two-story apartment property in Howell combines a 1920 construction date with subsequent remodeling and Colonial architectural styling. The building contains 5,472 square feet on a 0.11-acre parcel and is served by public water and forced-air heating. Vinyl is identified among the construction materials.
The property is situated in downtown Howell, with shops and dining establishments described as accessible on foot. It also adjoins a new development in the city. The building is currently fully occupied by tenants, and the available room information includes four bedrooms, seven bathrooms, and a basement. Multi-Family zoning supports the property’s apartment-building classification.
The property is situated in downtown Howell, with shops and dining establishments described as accessible on foot. It also adjoins a new development in the city. The building is currently fully occupied by tenants, and the available room information includes four bedrooms, seven bathrooms, and a basement. Multi-Family zoning supports the property’s apartment-building classification.
Key Highlights
- 5,472‑square‑foot apartment building on a 0.11‑acre parcel
- Built in 1920 with Colonial architectural styling
- Remodeled building with vinyl construction materials
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,830
Cap Rate
7.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$916,600
$916.6K
Cap Rate 7%
$654,714
$654.7K
Cap Rate 9%
$509,222
$509.2K
Market Conditions
NOI Build-Up for 5,472 SF
Gross rent
$88.6K $16.20/SF
− Vacancy
−$5.3K −$0.97/SF
EGI
$83.3K $15.23/SF
− OpEx
−$37.5K −$6.85/SF
NOI
$45.8K $8.38/SF
Area
Livingston County, MI
Vacancy
6.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$916,600
Cap Rate 7%
$654,714
Cap Rate 9%
$509,222
Alternative Uses
Best Use
Apartment 5plus
$654.7K
$572.9K – $763.8K
NOI $45,830 @ 7.0% cap · market cap 7.05%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$871.6K
$762.7K – $1.02M
NOI $61,012 @ 7.0% cap · market cap 9.39%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
827
Businesses Nearby
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Business Placement
Demographics for 48843, MI
47,704
Population
19,001
Households
2.5
Avg Household Size
41
Median Age
37%
College-Educated
95%
High-School Grad
89.6 sq mi
ZIP Area
532
Density / Sq Mi
$91,620
Median Household Income
$48,613
Median Earnings
$1,221
Median Rent
$323,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Historic 1920 property with public water, forced-air heating, and full tenant occupancy.
Where is this apartment building located?
The property is located at 121 S COURT Street Howell, MI.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 5,472‑square‑foot apartment building on a 0.11‑acre parcel; Built in 1920 with Colonial architectural styling; Remodeled building with vinyl construction materials
