Four-Unit Ranch Duplex
For Sale
$299,000
2112 Ferrol St, Lansing, MI 48910
Ranch-style units provide individual utilities, in-unit laundry, dedicated mechanical systems, and carport parking.
Property Size2,658 SF
Price / SF$112.49
Days on Market10
Property Features for 2112 Ferrol St
General Information
Standard status
Active
Size
2,658 SF
Property subtype
Residential Income
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Amenities
in-unit laundry
carports
Building Details
Construction
ranch
Listing Agency:
Achieve Real Estate LLC
(517) 712-8329
Listed By:
David Hall · License #6502433100
(517) 712-8329
Source:
Exprealty
Added: Aug 22
Changed: Aug 30
Last Checked: Aug 31 at 12:02AM
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 Achieve Real Estate LLC
Investment Insights
Based on property information with market context.
This four-unit duplex property includes four ranch-style residences, each configured with two bedrooms and one bathroom. The combined property size is 2,658 SF. Every unit has in-unit laundry, separate gas and electric service, an individual furnace, an individual water heater, and a carport. Tenants are responsible for their own trash service.
Three units are occupied, while the fourth is scheduled for move-in on 9/11/2026. The rental license remains valid through 8/1/2029, and the property conforms to local zoning codes. The units are located at 2112, 2114, 2116, and 2118 Ferrol St in Lansing, Michigan.
Three units are occupied, while the fourth is scheduled for move-in on 9/11/2026. The rental license remains valid through 8/1/2029, and the property conforms to local zoning codes. The units are located at 2112, 2114, 2116, and 2118 Ferrol St in Lansing, Michigan.
Key Highlights
- Four 2‑bedroom, 1‑bath ranch units offered together
- 2,658 SF combined property size
- In‑unit laundry, separate gas and electric, individual furnaces, and water heaters
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
$24,007
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
8.03%
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%
$480,140
$480.1K
Cap Rate 7%
$342,957
$343.0K
Cap Rate 9%
$266,744
$266.7K
Market Conditions
NOI Build-Up for 2,658 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
$36.7K $13.80/SF
− Vacancy
−$2.4K −$0.90/SF
EGI
$34.3K $12.90/SF
− OpEx
−$10.3K −$3.87/SF
NOI
$24.0K $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 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%
$480,140
Cap Rate 7%
$342,957
Cap Rate 9%
$266,744
Alternative Uses
Best Use
Multifamily LT 5
$343.0K
$300.1K – $400.1K
NOI $24,007 @ 7.0% cap · market cap 8.03%
Second Best
Apartment 5plus
$307.9K
$269.5K – $359.3K
NOI $21,556 @ 7.0% cap · market cap 7.21%
Theoretical Best
Office A
$547.1K
$478.7K – $638.3K
NOI $38,299 @ 7.0% cap · market cap 12.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
181
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 - Ranch-style units provide individual utilities, in-unit laundry, dedicated mechanical systems, and carport parking.
Where is this duplex located?
The property is located at 2112 Ferrol St Lansing, MI.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Four 2‑bedroom, 1‑bath ranch units offered together; 2,658 SF combined property size; In‑unit laundry, separate gas and electric, individual furnaces, and water heaters
