Jerome Township Duplex
2043/2047 N Neiner Rd Sanford, MI 48657
For Sale
$265,000
Side-by-side duplex in Jerome Township with rental income potential.
Property Size1,280 SF
Price / SF$207.03
Days on Market70
Property Features for 2043/2047 N Neiner Rd
General Information
- Standard status
- Active
- Size
- 1,280 SF
- Property subtype
- Investment
Building Details
- Year Built
- 1993
Listing Agency:
(989) 205-1588
Listed By:
Anna Merillat · License #MBR-6501388710
(989) 205-1588
Source:
Elliman
Added: May 16
Changed: Jul 10
Last Checked: Jul 23 at 6:57AM
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 Anna Merillat
Investment Insights
Based on property information with market context.
This side-by-side duplex presents an opportunity for investors and those looking to house hack in the heart of Jerome Township. Each unit features an open living floor plan and in-unit laundry. Currently, the property brings in $1,250 per month from two units ($775 and $445 respectively), with both leases terminating soon, allowing for rental adjustments. The current owner has rented to family and friends and has intentionally kept rents very affordable. The current tenant on the garage side also handles lawn and snow maintenance at no charge. The property has separate electric and natural gas meters; water is on a shared yoke and could be included in rent or divided as per landlord wishes. One unit is a 2-bedroom, 2-full bath unit with an attached garage, approximately 1280 square feet. This unit includes a dedicated foyer, oversized master bath with soaker tub and separate shower, and a generous walk-in closet. Appliances included are a fridge, range, dishwasher, microwave, washer, and dryer. The smaller unit is a 2-bedroom, 1-bath unit with a fridge, range, washer, and dryer included. Neither of the secondary bedrooms have closets although they do have egress. The bike score is 63, indicating it is bikeable, and the walk score is 26, indicating car-dependent.
Key Highlights
- Duplex in desirable Jerome Township offers rental income potential.
- Opportunity to increase rental income with expiring leases and below‑market rents.
- One unit features 2 beds/2 baths, attached garage, dedicated foyer, oversized master bath with soaker tub and walk‑in closet.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $13.1k | $10.20 |
| − Vacancy | −$940 | −$0.73 |
| EGI | $12.1k | $9.47 |
| − OpEx | −$3.6k | −$2.84 |
| NOI | $8.5k | $6.63 |
1,280 SF · lease $10.20/SF/yr · vacancy 7.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$121.2K
$106.0K – $141.4K
NOI $8,481 @ 7.0% cap · market cap 3.20%
Second Best
Apartment 5plus
$115.6K
$101.2K – $134.9K
NOI $8,093 @ 7.0% cap · market cap 3.05%
Theoretical Best
Flex RnD
$231.0K
$202.2K – $269.5K
NOI $16,172 @ 7.0% cap · market cap 6.10%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Side-by-side duplex in Jerome Township with rental income potential.
Where is this duplex located?
The property is located at 2043/2047 N Neiner Rd Sanford, MI.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Duplex in desirable Jerome Township offers rental income potential.; Opportunity to increase rental income with expiring leases and below‑market rents.; One unit features **2 beds/2 baths, attached garage, dedicated foyer, oversized master bath with soaker tub and walk‑in closet.**
