Four-Unit
For Sale
$375,000
305 W Elm Street, Mason, MI 48854
Each residence offers a two-bedroom, one-bath configuration in a well-maintained multifamily property.
Property Size3,244 SF
Price / SF$115.60
Days on Market118
Property Features for 305 W Elm Street
General Information
Standard status
Active
Size
3,244 SF
Property subtype
Residential Income
Listing Agency:
Home Towne Real Estate
(517) 372-2273
Listed By:
Mykayla Anne Fenska · License #6506047653
(517) 574-2922
Source:
Exprealty
Added: Jun 19
Changed: Oct 8
Last Checked: Oct 12 at 8:31PM
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 Home Towne Real Estate
Investment Insights
Based on property information with market context.
This 3,244-square-foot quadplex contains four residential units, each arranged with two bedrooms and one bathroom. The property is described as well maintained and stabilized, with consistent occupancy supporting its current multifamily operation.
Located at 305 W Elm Street in Mason, the property provides access to downtown Mason, local shopping, dining, parks, and major commuter routes. Its four-unit configuration offers an established residential income asset within the Mason community.
Located at 305 W Elm Street in Mason, the property provides access to downtown Mason, local shopping, dining, parks, and major commuter routes. Its four-unit configuration offers an established residential income asset within the Mason community.
Key Highlights
- Four‑unit multifamily property at 305 W Elm Street, Mason, MI 48854
- 3,244‑square‑foot building with four residential units
- Each unit includes 2 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,404
Cap Rate
7.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$588,080
$588.1K
Cap Rate 7%
$420,057
$420.1K
Cap Rate 9%
$326,711
$326.7K
Market Conditions
NOI Build-Up for 3,244 SF
Gross rent
$44.8K $13.80/SF
− Vacancy
−$2.8K −$0.85/SF
EGI
$42.0K $12.95/SF
− OpEx
−$12.6K −$3.88/SF
NOI
$29.4K $9.06/SF
Area
Ingham County, MI
Vacancy
6.17%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$588,080
Cap Rate 7%
$420,057
Cap Rate 9%
$326,711
Alternative Uses
Best Use
Multifamily LT 5
$420.1K
$367.6K – $490.1K
NOI $29,404 @ 7.0% cap · market cap 7.84%
Second Best
Apartment 5plus
$377.5K
$330.3K – $440.4K
NOI $26,425 @ 7.0% cap · market cap 7.05%
Theoretical Best
Office A
$521.2K
$456.0K – $608.1K
NOI $36,483 @ 7.0% cap · market cap 9.73%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
484
Businesses Nearby
Explore this area
Business Placement
Demographics for 48854, MI
19,804
Population
7,853
Households
2.5
Avg Household Size
41
Median Age
39%
College-Educated
95%
High-School Grad
113.3 sq mi
ZIP Area
175
Density / Sq Mi
$91,956
Median Household Income
$46,992
Median Earnings
$1,136
Median Rent
$240,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Quadplex - Each residence offers a two-bedroom, one-bath configuration in a well-maintained multifamily property.
Where is this quadplex located?
The property is located at 305 W Elm Street Mason, MI.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Four‑unit multifamily property at 305 W Elm Street, Mason, MI 48854; 3,244‑square‑foot building with four residential units; Each unit includes 2 bedrooms and 1 bathroom
