Two-Unit Duplex with
For Sale
$174,900
1729 Maplewood Avenue, Lansing, MI 48910
The lower residence has one bedroom, while the upper residence includes two.
Property Size1,928 SF
Price / SF$90.72
Days on Market74
Property Features for 1729 Maplewood Avenue
General Information
Standard status
Active
Size
1,928 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 1BR, 1 x 2BR
Multifamily Units
2
Building Details
Buildings
1
Listing Agency:
1st Choice Real Estate
(517) 285-7294
Listed By:
Brad Hillard
(517) 285-7294
Source:
Exprealty
Added: Jun 19
Changed: Aug 29
Last Checked: Aug 30 at 9:17PM
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 1st Choice Real Estate
Investment Insights
Based on property information with market context.
This 1,928-square-foot duplex contains two separate residences: a one-bedroom lower unit and a two-bedroom upper unit. Interior details include hardwood flooring, abundant natural light, and original character. The upper residence also has access to a private balcony.
Located at 1729 Maplewood Avenue in Lansing, the property is near downtown Lansing, LCC, state offices, shopping, and dining. Its two-level configuration provides distinct living spaces within a single residential income property.
Located at 1729 Maplewood Avenue in Lansing, the property is near downtown Lansing, LCC, state offices, shopping, and dining. Its two-level configuration provides distinct living spaces within a single residential income property.
Key Highlights
- 1,928‑square‑foot duplex at 1729 Maplewood Avenue
- Lower unit with 1 bedroom
- Upper unit with 2 bedrooms
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
$15,636
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
8.94%
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%
$312,720
$312.7K
Cap Rate 7%
$223,371
$223.4K
Cap Rate 9%
$173,733
$173.7K
Market Conditions
NOI Build-Up for 1,928 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
$30.3K $15.72/SF
− Vacancy
−$1.9K −$0.97/SF
EGI
$28.4K $14.75/SF
− OpEx
−$12.8K −$6.64/SF
NOI
$15.6K $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%
$312,720
Cap Rate 7%
$223,371
Cap Rate 9%
$173,733
Alternative Uses
Best Use
Multifamily LT 5
$248.8K
$217.7K – $290.2K
NOI $17,414 @ 7.0% cap · market cap 9.96%
Second Best
Apartment 5plus
$223.4K
$195.5K – $260.6K
NOI $15,636 @ 7.0% cap · market cap 8.94%
Theoretical Best
Office A
$396.9K
$347.3K – $463.0K
NOI $27,780 @ 7.0% cap · market cap 15.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
852
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 - The lower residence has one bedroom, while the upper residence includes two.
Where is this duplex located?
The property is located at 1729 Maplewood Avenue Lansing, MI.
What is the asking price?
The asking price for this property is $174,900.
What are key features of this property?
This property features: 1,928‑square‑foot duplex at 1729 Maplewood Avenue; Lower unit with 1 bedroom; Upper unit with 2 bedrooms
