Updated Duplex With Basement
For Sale
$235,000
Pending
5700 Orchard Court, Lansing, MI 48911
Two-unit property with refreshed kitchens, private laundry areas, and separate utility service for each residence.
Property Size2,290 SF
Days on Market123
Property Features for 5700 Orchard Court
General Information
Standard status
Pending
Size
2,290 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Listing Agency:
White Pine Sotheby's International Realty
(616) 644-0819
Listed By:
Josh J Nelson · License #6501442128
(616) 644-0819
Source:
Exprealty
Added: May 1
Changed: Aug 30
Last Checked: Aug 30 at 9:16PM
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 White Pine Sotheby's International Realty
Investment Insights
Based on property information with market context.
Located at 5700 Orchard Court in Lansing, this 2,290-square-foot duplex offers matching residences with three bedrooms and one and a half bathrooms per side. Each unit includes an updated kitchen with newer cabinetry and countertops, a living room opening to a porch through a large slider, and an upstairs full bathroom with updated vanities and tile-tub surrounds.
The basements provide washer and dryer setups, new furnaces, and additional storage for both units. Utilities are separately metered or otherwise split between the residences. The property was recently relicensed, with the certificate valid through 10/28.
The basements provide washer and dryer setups, new furnaces, and additional storage for both units. Utilities are separately metered or otherwise split between the residences. The property was recently relicensed, with the certificate valid through 10/28.
Key Highlights
- 2,290 SF duplex with two matching three‑bedroom residences
- Each side includes 3 bedrooms and 1.5 bathrooms
- Updated kitchens with newer cabinets and countertops
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
$20,684
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
8.80%
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%
$413,680
$413.7K
Cap Rate 7%
$295,486
$295.5K
Cap Rate 9%
$229,822
$229.8K
Market Conditions
NOI Build-Up for 2,290 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
$31.6K $13.80/SF
− Vacancy
−$2.1K −$0.90/SF
EGI
$29.5K $12.90/SF
− OpEx
−$8.9K −$3.87/SF
NOI
$20.7K $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 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%
$413,680
Cap Rate 7%
$295,486
Cap Rate 9%
$229,822
Alternative Uses
Best Use
Multifamily LT 5
$295.5K
$258.6K – $344.7K
NOI $20,684 @ 7.0% cap · market cap 8.80%
Second Best
Apartment 5plus
$265.3K
$232.2K – $309.5K
NOI $18,572 @ 7.0% cap · market cap 7.90%
Theoretical Best
Office A
$471.4K
$412.5K – $549.9K
NOI $32,996 @ 7.0% cap · market cap 14.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
737
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with refreshed kitchens, private laundry areas, and separate utility service for each residence.
Where is this duplex located?
The property is located at 5700 Orchard Court Lansing, MI.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: 2,290 SF duplex with two matching three‑bedroom residences; Each side includes 3 bedrooms and 1.5 bathrooms; Updated kitchens with newer cabinets and countertops
