Three-Unit Multifamily
For Sale
$209,500
Pending
3006 Lansing Avenue, Jackson, MI 49202
Fully occupied multifamily property with separate utilities, shared laundry, and off-street parking.
Property Size1,440 SF
Lot Size0.50 Acres
Days on Market91
Property Features for 3006 Lansing Avenue
General Information
Standard status
Pending
Size
1,440 SF
Lot size
0.50 Acres
Property subtype
Residential Income / Multi Family
Occupancy
100%
Net Operating Income
$22,500
Financials
Gross Income
$25,200
Average Monthly Rent
$700
Units
Unit Mix
3 x 1BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,503
Amenities
off-street parking
shared laundry
owner's storage shed
Forced Air, Natural Gas
No
Yes
3
3.0
Building Details
Year Built
1970
Listing Agency:
Exclusive House of Real Estate
(810) 845-1154
Listed By:
Ashley Andrews · License #6501418707
(810) 845-1154
Source:
Compass
Added: Jun 1
Changed: Aug 29
Last Checked: Aug 29 at 1:07PM
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 Exclusive House of Real Estate
Investment Insights
Based on property information with market context.
This 1,440-square-foot triplex contains three one-bedroom, one-bath units, with each residence separately metered for utilities. The property was built in 1970 and includes forced-air heating with natural gas service. Shared laundry, off-street parking, and an owner’s storage shed add practical features for residents and onsite operations.
Set on 0.5 acres at 3006 Lansing Avenue in Jackson, Michigan, the property provides a compact multifamily configuration with three residential units and supporting site improvements. All units are currently occupied, offering an established rental setup without introducing unsupported assumptions about future performance.
Set on 0.5 acres at 3006 Lansing Avenue in Jackson, Michigan, the property provides a compact multifamily configuration with three residential units and supporting site improvements. All units are currently occupied, offering an established rental setup without introducing unsupported assumptions about future performance.
Key Highlights
- Three‑unit triplex with three 1‑bedroom, 1‑bath apartments
- 1,440 SF property on 0.5 acres
- All three units are currently occupied
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
$9,510
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
4.54%
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%
$190,200
$190.2K
Cap Rate 7%
$135,857
$135.9K
Cap Rate 9%
$105,667
$105.7K
Market Conditions
NOI Build-Up for 1,440 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
$14.7K $10.20/SF
− Vacancy
−$1.1K −$0.77/SF
EGI
$13.6K $9.44/SF
− OpEx
−$4.1K −$2.83/SF
NOI
$9.5K $6.60/SF
Area
Jackson County, MI
Vacancy
7.50%
Lease Rate
$10.20 /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%
$190,200
Cap Rate 7%
$135,857
Cap Rate 9%
$105,667
Alternative Uses
Best Use
Multifamily LT 5
$135.9K
$118.9K – $158.5K
NOI $9,510 @ 7.0% cap · market cap 4.54%
Second Best
Apartment 5plus
$127.6K
$111.7K – $148.9K
NOI $8,934 @ 7.0% cap · market cap 4.26%
Theoretical Best
Office A
$229.9K
$201.1K – $268.2K
NOI $16,091 @ 7.0% cap · market cap 7.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
122
Businesses Nearby
Explore this area
Business Placement
Demographics for 49202, MI
19,359
Population
9,598
Households
2
Avg Household Size
37
Median Age
15%
College-Educated
91%
High-School Grad
12.7 sq mi
ZIP Area
1,524
Density / Sq Mi
$41,916
Median Household Income
$30,638
Median Earnings
$915
Median Rent
$104,100
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?
Triplex - Fully occupied multifamily property with separate utilities, shared laundry, and off-street parking.
Where is this triplex located?
The property is located at 3006 Lansing Avenue Jackson, MI.
What is the asking price?
The asking price for this property is $209,500.
What are key features of this property?
This property features: Three‑unit triplex with three 1‑bedroom, 1‑bath apartments; 1,440 SF property on 0.5 acres; All three units are currently occupied
