2-Unit Duplex with Full
For Sale
$209,900
3941 Glenburne Blvd, Lansing, MI 48911
Two leased residences have distinct bedroom layouts, with occupants covering gas, electric, water, sewer, and trash service.
Property Size2,093 SF
Price / SF$100.29
Days on Market9
Property Features for 3941 Glenburne Blvd
General Information
Standard status
Active
Size
2,093 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 2BR/1.5BA, 1 x 3BR/1.5BA
Multifamily Units
2
Building Details
Buildings
1
Listing Agency:
RE/MAX Real Estate Professionals
(517) 321-8255
Listed By:
Gary R. Newton · License #6506045750
(517) 410-8307
Source:
Exprealty
Added: Oct 2
Changed: Oct 8
Last Checked: Oct 10 at 2:09AM
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 RE/MAX Real Estate Professionals
Investment Insights
Based on property information with market context.
This duplex contains two separate residences and a full basement. One unit offers two bedrooms and one-and-a-half bathrooms; the other has three bedrooms and one-and-a-half bathrooms. Both units are tenant occupied, and two written lease agreements are on file.
Residents pay their own gas, electric, water, sewer, and trash costs. The property is under management by Sustain Management Company. A 48-hour notice is required before access.
Residents pay their own gas, electric, water, sewer, and trash costs. The property is under management by Sustain Management Company. A 48-hour notice is required before access.
Key Highlights
- Two‑unit duplex with a full basement
- One residence has 2 bedrooms and 1.5 bathrooms; the other has 3 bedrooms and 1.5 bathrooms
- Both units are tenant occupied; two written lease agreements are on file
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,904
Cap Rate
9.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$378,080
$378.1K
Cap Rate 7%
$270,057
$270.1K
Cap Rate 9%
$210,044
$210.0K
Market Conditions
NOI Build-Up for 2,093 SF
Gross rent
$28.9K $13.80/SF
− Vacancy
−$1.9K −$0.90/SF
EGI
$27.0K $12.90/SF
− OpEx
−$8.1K −$3.87/SF
NOI
$18.9K $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%
$378,080
Cap Rate 7%
$270,057
Cap Rate 9%
$210,044
Alternative Uses
Best Use
Multifamily LT 5
$270.1K
$236.3K – $315.1K
NOI $18,904 @ 7.0% cap · market cap 9.01%
Second Best
Apartment 5plus
$242.5K
$212.2K – $282.9K
NOI $16,974 @ 7.0% cap · market cap 8.09%
Theoretical Best
Office A
$430.8K
$377.0K – $502.6K
NOI $30,158 @ 7.0% cap · market cap 14.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
164
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two leased residences have distinct bedroom layouts, with occupants covering gas, electric, water, sewer, and trash service.
Where is this duplex located?
The property is located at 3941 Glenburne Blvd Lansing, MI.
What is the asking price?
The asking price for this property is $209,900.
What are key features of this property?
This property features: Two‑unit duplex with a full basement; One residence has 2 bedrooms and 1.5 bathrooms; the other has 3 bedrooms and 1.5 bathrooms; Both units are tenant occupied; two written lease agreements are on file
