Duplex with Attached
For Sale
$269,900
3811 Cooley Dr, Lansing, MI 48911
Both residences have been renovated, and the larger unit includes a one-car garage.
Property Size2,566 SF
Price / SF$105.18
Days on Market9
Property Features for 3811 Cooley Dr
General Information
Standard status
Active
Size
2,566 SF
Property subtype
Residential Income
Site & Location
Neighborhood
Averill Woods Neighborhood Association
Highway Access
Yes
Additional Details
Multifamily Units
2
Listing Agency:
EXIT Realty Home Partners
(517) 803-2345
Listed By:
Jodi LaBar
(616) 802-0037
Source:
Exprealty
Added: Oct 20
Changed: Oct 26
Last Checked: Oct 28 at 2:42PM
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 EXIT Realty Home Partners
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Investment Insights
Based on property information with market context.
This Lansing duplex contains two updated units, including a larger residence with an attached one-car garage.
The property offers access to I-496 and is near parks, shopping, and dining.
The property offers access to I-496 and is near parks, shopping, and dining.
Key Highlights
- Two renovated residential units
- Larger unit has an attached one‑car garage
- Lansing location with access to I‑496
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,176
Cap Rate
8.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$463,520
$463.5K
Cap Rate 7%
$331,086
$331.1K
Cap Rate 9%
$257,511
$257.5K
Market Conditions
NOI Build-Up for 2,566 SF
Gross rent
$35.4K $13.80/SF
− Vacancy
−$2.3K −$0.90/SF
EGI
$33.1K $12.90/SF
− OpEx
−$9.9K −$3.87/SF
NOI
$23.2K $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 Rate 5%
$463,520
Cap Rate 7%
$331,086
Cap Rate 9%
$257,511
Alternative Uses
Best Use
Multifamily LT 5
$331.1K
$289.7K – $386.3K
NOI $23,176 @ 7.0% cap · market cap 8.59%
Second Best
Apartment 5plus
$297.3K
$260.1K – $346.8K
NOI $20,810 @ 7.0% cap · market cap 7.71%
Theoretical Best
Office A
$528.2K
$462.2K – $616.2K
NOI $36,973 @ 7.0% cap · market cap 13.70%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
111
Businesses Nearby
Explore this area
Business Placement
Demographics for 48911, MI
40,566
Population
18,069
Households
2.2
Avg Household Size
36
Median Age
26%
College-Educated
90%
High-School Grad
17.3 sq mi
ZIP Area
2,345
Density / Sq Mi
$54,882
Median Household Income
$36,245
Median Earnings
$933
Median Rent
$136,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences have been renovated, and the larger unit includes a one-car garage.
Where is this duplex located?
The property is located at 3811 Cooley Dr Lansing, MI.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: Two renovated residential units; Larger unit has an attached one‑car garage; Lansing location with access to I‑496
