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    Jerome Township Duplex Opportunity Title is generated by Realmo AI

    2043/2047 N Neiner Rd, Sanford, MI 48657

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    For Sale
    $265,000

    Side-by-side duplex in Jerome Township with rental income potential.

    Type:Investment
    Property size:
    1,280 SF
    Price / SF:
    $207/SF
    Added:
    May 16, 2026
    Days on Market:
    18
    Last Refresh:
    May 16 at 9:02 pm

    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

    We can help!

    Listing Contact
    Anna Merillat

    Listing agent Anna Merillat License #MBR-6501388710

    Listing office

    Listing date May 16, 2026

    Source Elliman

    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

    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.
    • Both units include in‑unit laundry and appliances (fridge, range, washer, dryer).
    • Separate electric and natural gas meters for each unit.
    • Larger unit (2 bed/2 bath) is approximately 1280 sq ft.

    Overview

    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.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Auto Parts Store Kitchen & Bath Showroom

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sanford
    County
    Midland
    State
    Michigan
    Longitude
    -84.39922
    Latitude
    43.67039

    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.**
    (989) 205-1588
    We can help!
    Listing Contact
    Anna Merillat
    Real Estate License ID: MBR-6501388710
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    2043/2047 N Neiner Rd, JeromeTownship_Midland, MI 48657
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