Duplex with Detached
For Sale
$210,000
Pending
2001 Devonshire Ave, Lansing, MI 48910
Each unit offers an upper-level bedroom, finished basement recreation space, and updated kitchen.
Property Size1,326 SF
Days on Market62
Property Features for 2001 Devonshire Ave
General Information
Standard status
Pending
Size
1,326 SF
Property subtype
Residential Income
Listing Agency:
Smeak Real Estate Company
(517) 655-3321
Listed By:
Denise Diederich
(517) 719-5159
Source:
Exprealty
Added: Aug 18
Changed: Oct 10
Last Checked: Oct 16 at 9:14AM
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 Smeak Real Estate Company
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Investment Insights
Based on property information with market context.
This duplex at 2001 Devonshire Ave includes two residential units, each arranged with a living room and fireplace, updated kitchen, and half bathroom on the main level. The upper floor contains a large bedroom with built-in drawers and a full bathroom, while finished basement areas provide additional recreation space. Hardwood flooring, refinished staircases, and interior repainting contribute to the property's maintained condition.
A detached two-car garage serves the property. The front porch has been rebuilt, and one unit also includes an enclosed rear porch with a new slider door. Kitchen appliances and washers and dryers remain in both units. One side was previously owner occupied, and renters are responsible for their own utilities.
A detached two-car garage serves the property. The front porch has been rebuilt, and one unit also includes an enclosed rear porch with a new slider door. Kitchen appliances and washers and dryers remain in both units. One side was previously owner occupied, and renters are responsible for their own utilities.
Key Highlights
- Two‑unit duplex at 2001 Devonshire Ave, Lansing, MI
- Each unit includes a main‑level living room with fireplace, updated kitchen, and half bath
- Upper‑level bedroom with built‑in drawers and full bathroom in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,977
Cap Rate
5.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$239,540
$239.5K
Cap Rate 7%
$171,100
$171.1K
Cap Rate 9%
$133,078
$133.1K
Market Conditions
NOI Build-Up for 1,326 SF
Gross rent
$18.3K $13.80/SF
− Vacancy
−$1.2K −$0.90/SF
EGI
$17.1K $12.90/SF
− OpEx
−$5.1K −$3.87/SF
NOI
$12.0K $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%
$239,540
Cap Rate 7%
$171,100
Cap Rate 9%
$133,078
Alternative Uses
Best Use
Multifamily LT 5
$171.1K
$149.7K – $199.6K
NOI $11,977 @ 7.0% cap · market cap 5.70%
Second Best
Apartment 5plus
$153.6K
$134.4K – $179.2K
NOI $10,754 @ 7.0% cap · market cap 5.12%
Theoretical Best
Office A
$272.9K
$238.8K – $318.4K
NOI $19,106 @ 7.0% cap · market cap 9.10%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
368
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Each unit offers an upper-level bedroom, finished basement recreation space, and updated kitchen.
Where is this duplex located?
The property is located at 2001 Devonshire Ave Lansing, MI.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: Two‑unit duplex at 2001 Devonshire Ave, Lansing, MI; Each unit includes a main‑level living room with fireplace, updated kitchen, and half bath; Upper‑level bedroom with built‑in drawers and full bathroom in each unit
