Updated Duplex with Rental
For Sale
$150,000
Pending
107 W Wilkins St, Jackson, MI 49203
Recently updated duplex with separate utilities, ideal for investors.
Property Size1,916 SF
Lot Size0.07 Acres
Days on Market154
Property Features for 107 W Wilkins St
General Information
Standard status
Pending
Size
1,916 SF
Lot size
0.07 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$2,441
Building Details
Building Size
1,916 SF
Year Built
1910
Units
2
Listing Agency:
(906) 748-1078
Listed By:
Madyson Gee
(906) 748-1078
Source:
Elliman
Added: Mar 25
Changed: Aug 22
Last Checked: Aug 24 at 8:04AM
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 Madyson Gee
Investment Insights
Based on property information with market context.
This recently updated duplex presents an excellent investment opportunity, featuring separate utilities for each unit. Both units have been refreshed with new paint and flooring, creating clean, move-in ready spaces. Unit B includes a new A/C unit. The main floor unit features 4 bedrooms and 1 full bathroom, while the upper unit offers 3 bedrooms and 1 full bathroom. Laundry hookups are available in the basement for use by both units. This property is suitable for investors or owner-occupants seeking a well-maintained multi-unit property with recent updates and solid rental potential.
Key Highlights
- Excellent investment potential with two separate units and utilities.
- Recently updated with new paint and flooring throughout both units.
- Unit B features a new A/C unit.
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
$12,654
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
8.44%
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%
$253,080
$253.1K
Cap Rate 7%
$180,771
$180.8K
Cap Rate 9%
$140,600
$140.6K
Market Conditions
NOI Build-Up for 1,916 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
$19.5K $10.20/SF
− Vacancy
−$1.5K −$0.77/SF
EGI
$18.1K $9.44/SF
− OpEx
−$5.4K −$2.83/SF
NOI
$12.7K $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 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%
$253,080
Cap Rate 7%
$180,771
Cap Rate 9%
$140,600
Alternative Uses
Best Use
Multifamily LT 5
$180.8K
$158.2K – $210.9K
NOI $12,654 @ 7.0% cap · market cap 8.44%
Second Best
Apartment 5plus
$169.8K
$148.6K – $198.1K
NOI $11,887 @ 7.0% cap · market cap 7.92%
Theoretical Best
Office A
$305.9K
$267.6K – $356.8K
NOI $21,410 @ 7.0% cap · market cap 14.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,355
Businesses Nearby
Explore this area
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
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 - Recently updated duplex with separate utilities, ideal for investors.
Where is this duplex located?
The property is located at 107 W Wilkins St Jackson, MI.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Excellent investment potential with two separate units and utilities.; Recently updated with new paint and flooring throughout both units.; Unit B features a new A/C unit.
