Renovated Brick Ranch
For Sale
$299,800
Pending
1210 Blake Ave, Lansing, MI 48912
Two-unit residential property with separately metered utilities and substantial 2023 updates to both residences.
Property Size1,808 SF
Days on Market55
Property Features for 1210 Blake Ave
General Information
Standard status
Pending
Size
1,808 SF
Property subtype
Residential Income
Site & Location
Neighborhood
Groesbeck Area Neighborhood Association
Units
Unit Mix
1 x 2BR, 1 x 4BR
Multifamily Units
2
Building Details
Year Renovated
2023
Buildings
1
Construction
brick ranch
Listing Agency:
White Pine Sotheby's International Realty
(517) 777-8224
Listed By:
Rob Buffington
(517) 300-3637
Source:
Exprealty
Added: Aug 31
Changed: Oct 8
Last Checked: Oct 23 at 12:25PM
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 White Pine Sotheby's International Realty
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Investment Insights
Based on property information with market context.
This 1,808-square-foot brick ranch duplex contains two separate residences. The rear unit offers four bedrooms, including an additional bedroom in the partially finished lower level, along with a half bath. Its 2023 improvements include LVP flooring on the main level, kitchen cabinetry, countertops, appliances, lighting, and interior paint. The front residence has two bedrooms and received new LVP flooring, lighting, and paint during the same year.
Gas, electric, and water are individually metered for each unit, with tenants responsible for their own utilities. The property is located at 1210 Blake Ave in Lansing, Michigan, within the Groesbeck neighborhood.
Gas, electric, and water are individually metered for each unit, with tenants responsible for their own utilities. The property is located at 1210 Blake Ave in Lansing, Michigan, within the Groesbeck neighborhood.
Key Highlights
- 1,808‑square‑foot brick ranch duplex
- Two separate residential units with four‑bedroom and two‑bedroom layouts
- Rear unit includes a partially finished lower level with an additional bedroom and half bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,330
Cap Rate
5.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$326,600
$326.6K
Cap Rate 7%
$233,286
$233.3K
Cap Rate 9%
$181,444
$181.4K
Market Conditions
NOI Build-Up for 1,808 SF
Gross rent
$25.0K $13.80/SF
− Vacancy
−$1.6K −$0.90/SF
EGI
$23.3K $12.90/SF
− OpEx
−$7.0K −$3.87/SF
NOI
$16.3K $9.03/SF
Area
Lansing, MI
Vacancy
6.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$326,600
Cap Rate 7%
$233,286
Cap Rate 9%
$181,444
Alternative Uses
Best Use
Multifamily LT 5
$233.3K
$204.1K – $272.2K
NOI $16,330 @ 7.0% cap · market cap 5.45%
Second Best
Apartment 5plus
$209.5K
$183.3K – $244.4K
NOI $14,663 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$372.2K
$325.6K – $434.2K
NOI $26,051 @ 7.0% cap · market cap 8.69%
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
705
Businesses Nearby
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Business Placement
Demographics for 48912, MI
17,155
Population
9,064
Households
1.9
Avg Household Size
34
Median Age
40%
College-Educated
91%
High-School Grad
5.2 sq mi
ZIP Area
3,299
Density / Sq Mi
$53,072
Median Household Income
$34,598
Median Earnings
$1,037
Median Rent
$139,900
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 - Two-unit residential property with separately metered utilities and substantial 2023 updates to both residences.
Where is this duplex located?
The property is located at 1210 Blake Ave Lansing, MI.
What is the asking price?
The asking price for this property is $299,800.
What are key features of this property?
This property features: 1,808‑square‑foot brick ranch duplex; Two separate residential units with four‑bedroom and two‑bedroom layouts; Rear unit includes a partially finished lower level with an additional bedroom and half bath
