Three-Unit Income
For Sale
$172,900
312-314 2nd Street, Jackson, MI 49201
Three-unit rental property offering a lower-level 3-bedroom unit plus separate 2-bedroom and 1-bedroom upper units.
Property Size1,412 SF
Price / SF$122.45
Days on Market94
Property Features for 312-314 2nd Street
General Information
Standard status
Active
Size
1,412 SF
Total Parking Spaces
4
Property subtype
Multi Family / 2 to 4 Units
Additional Details
Multifamily Units
3
Building Details
Year Built
1900
Listing Agency:
Production Realty
(517) 745-8768
Listed By:
Kittyanne Latocki · License #6501406946
(517) 745-8768
Source:
Compass
Added: Apr 30
Changed: Jul 23
Last Checked: Jul 24 at 3:24PM
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 Production Realty
Investment Insights
Based on property information with market context.
This income-generating three-unit multifamily property includes a mix of unit sizes: a lower-level 3-bedroom unit and two upper units consisting of one 2-bedroom unit and one 1-bedroom unit. The lower-level unit has been updated with fresh paint, carpet, fixtures, and appliances, and features ample storage and generous bedroom sizes. The property also includes a separate basement entrance and newer mechanicals, including a newer furnace and water heater.
Four parking spaces are included, and the building sits on a cement driveway. The seller notes the property has maintained city certification compliance for many years. Monthly operating expenses include water, garbage, and Consumers for the owner.
Overall, the configuration supports separate living spaces within one building, with a separate basement entrance that can be practical for day-to-day access and maintenance.
Four parking spaces are included, and the building sits on a cement driveway. The seller notes the property has maintained city certification compliance for many years. Monthly operating expenses include water, garbage, and Consumers for the owner.
Overall, the configuration supports separate living spaces within one building, with a separate basement entrance that can be practical for day-to-day access and maintenance.
Key Highlights
- 3‑unit rental just outside downtown Jackson, with a lower‑level 3‑bedroom unit and separate upper 2‑bedroom and 1‑bedroom units
- Lower‑level 3‑bedroom unit features fresh paint, carpet, fixtures, and appliances; previously rented for $1,300+/mo
- Upper units (2‑bedroom and 1‑bedroom) generate about $1,650/mo total rental income
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 | $14.4k | $10.20 |
| − Vacancy | −$1.1k | −$0.77 |
| EGI | $13.3k | $9.44 |
| − OpEx | −$4.0k | −$2.83 |
| NOI | $9.3k | $6.60 |
1,412 SF · lease $10.20/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$133.2K
$116.6K – $155.4K
NOI $9,326 @ 7.0% cap · market cap 5.39%
Second Best
Apartment 5plus
$125.1K
$109.5K – $146.0K
NOI $8,760 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$225.4K
$197.2K – $263.0K
NOI $15,778 @ 7.0% cap · market cap 9.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
126
Businesses Nearby
Explore this area
Business Placement
Demographics for 49201, MI
47,747
Population
18,102
Households
2.6
Avg Household Size
41
Median Age
23%
College-Educated
92%
High-School Grad
155.0 sq mi
ZIP Area
308
Density / Sq Mi
$71,714
Median Household Income
$36,390
Median Earnings
$945
Median Rent
$202,900
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 - Three-unit rental property offering a lower-level 3-bedroom unit plus separate 2-bedroom and 1-bedroom upper units.
Where is this triplex located?
The property is located at 312-314 2nd Street Jackson, MI.
What is the asking price?
The asking price for this property is $172,900.
What are key features of this property?
This property features: 3‑unit rental just outside downtown Jackson, with a lower‑level 3‑bedroom unit and separate upper 2‑bedroom and 1‑bedroom units; Lower‑level 3‑bedroom unit features fresh paint, carpet, fixtures, and appliances; previously rented for $1,300+/mo; Upper units (2‑bedroom and 1‑bedroom) generate about $1,650/mo total rental income
