412 S Hayford AVE Lansing, MI 48912
8,276 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Subdivision Leslie Park
MLS Listing ID 287209
Year Built 1904
Tax Year 2024
Lot Size 8,276 Sqft
Acres 0.19
Lot Dimensions 66x127
Source Greater Lansing Association of REALTORS®
Property Description
Investor: it’s currently in short term rental with current cap rate around 11 (3units renting out, 5yrs data consistently) with all four units rent out cap rate can go up to 14 (or higher to 17, a data point, if you would work for yourself, you may get 100% cash to cash returns, so you can buy another property after a year to building up your conglomerate). You can raise up capital by reducing the minimum night of staying to 1 night (owner required 2 nights minimum of staying), 1 night is too busy, owner doesn’t want it. Homeowner: it can switch to flex plan 3 units. The owner occupied 3 bed, 2 bath (2unit combined by just opening the door) with big attic for storage, and two units for renting out. You are staying for free with 2 units paying for the mortgage and never getting house loss when you would fall in hardship, or you may want to taking care of older and younger in family, or working at home, many possibilities.
If you want to escape 9-5 jobs, it is simple enough jut working for yourself (staying in 1 unit and renting out 3 units) with your own schedule: a couple hours per day or per week, it depends on the length of the staying.
Location
State MI
County Ingham
Community Leslie Park
Direction KALAMAZOO SOUTH TO S HAYFORD
Rooms
Basement Full
Interior
Heating Forced Air, Natural Gas
Cooling Window Unit(s)
Flooring Hardwood
Laundry In Unit
Exterior
Exterior Feature Storage
Parking Features Concrete, Alley Access
Fence Partial
View Y/N No
Roof Type Shingle
Porch Covered, Front Porch, Glass Enclosed
Total Parking Spaces 6
Building
Lot Description Back Yard, City Lot, Front Yard, Landscaped
Lot Size Range 0.19
Sewer Public Sewer
Schools
High Schools Lansing
School District Lansing
Others
Tax ID 33-01-01-14-354-151
Acceptable Financing Cash, Conventional, FHA, MSHDA, VA Loan
Listing Terms Cash, Conventional, FHA, MSHDA, VA Loan