$119,900 Price Analysis    ♡   Lansing, MI 48910 3 bed 2 bath unknown SqFt ($0/SqFt) 6,970SqFt lot. Built 1920 Listed 2023-11-20, Taxes $2,514 | Ⓧ USDA Ineligible due to location near Lansing |
ATTENTION INVESTORS: 405 E Hodge is a duplex with proven rental h istory.
With private front and rear entrances, the massive lower unit occupies the entire first floor. With a current rental rate of $800/month, this 2 bedroom, 1 bathroom unit has a market rent potential of $925/month. This unit has vast living areas and is complete with access to the laundry hookups and storage space that the basement provides. The upper unit has a private entrance on the west side of the duplex and offers the upper tenant their own floor to occupy. This 1 bedroom, 1 bathroom unit has a current rental rate of $750/month, with a market rent potential of $850/month. Please contact agent for current walkthrough videos of each unit and the exterior. This property also has plenty of tangble features beyond the rental numbers that will ensure sustainable success moving forward. With a 1 car garage that offers tenants on-site covered parking, multiple driveway parking spaces and a bus stop less than a block away, transportation options provide a rental perk that satisfies most all potential tenants.
Beyond the garage lies an enormous, privately fenced in back yard that provides another perk to any tenant that enjoys the outdoors. This duplex holds the value-add potential that you are looking for. Before considering revamping each unit to maximize rent, consider splitting the utilities. Each unit currently has separate meters for electrical and is tenant paid. The upper unit features baseboard heat and the forced air furnace heats the lower unit. Water supply lines and drains were replaced in 2023. Separating the water meters and the HVAC work required to add a water heater for the upper unit will allow the buyer of this one to focus on rental income with two cash-flowing units without expenses due to water, gas or electric. Simple value add opportunities provided by lower rental values and un-split water and gas ensure this property will not last on the market long. Submit your offer today before it's too late. Seller is willing to sell 405 E Hodge with 1624 W Willow (MLS #278866) as a package. Please contact agent for more information.
Presented by Jamie Fox at
Trubrook, LLC.
Property MLS #277428 from GreaterLansingArea
Full Bathrooms: 2
Heating: Yes
Fencing: Back Yard
Patio And Porch Features: Front Porch, Rear Porch
Lot Size Dimensions: 33x205.25
Lot Size Square Feet: 6970
Calculated Total Monthly Association Fees: 0
Map directions Map directions Map directionsBedrooms in Unit-2: 1
Total Bathrooms in Unit-1: 1
Total Bathrooms in Unit-2: 1
County: Ingham
Directions: Cedar Street to Hodge, Duplex on Right
Tax Year: 2022
Source Property Type: Resid/Multi-Family
Parcel Number: 33-01-01-28-406-181
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $unknown + $unknown $35,900 | $2,514 |
| 2021 | $unknown + $unknown $32,200 | $2,455 |
| 2019 | $unknown + $unknown $28,000 | $2,138 |
| 2017 | $unknown + $unknown $27,300 | $1,941 |
| 2017 | $unknown + $unknown $27,900 | $1,941 |
| 2016 | $unknown + $unknown $25,900 | $1,920 |
| 2015 | $unknown + $unknown $25,000 | $1,891 |
| 2014 | $unknown + $unknown $25,500 | $1,929 |
| 2013 | $unknown + $unknown $26,100 | $1,488 |
| 2012 | $unknown + $unknown $27,517 | $1,555 |
| 2011 | $unknown + $unknown $32,500 | $1,567 |
| 2010 | $unknown + $unknown $36,400 | $1,493 |
| 2009 | $unknown + $unknown $40,100 | $1,497 |
| 2008 | $unknown + $unknown $43,500 | $1,150 |
| 2007 | $unknown + $unknown $44,400 | $1,126 |
$119,900
GreaterLansingArea
Price Changed 2024-02-12
$124,900
GreaterLansingArea
Price Changed 2024-01-22
$129,900
GreaterLansingArea
Relisted 2024-01-02
$134,490
GreaterLansingArea
Listing removed 2023-12-30
$0
GreaterLansingArea
Price Changed 2023-12-11
$134,490
GreaterLansingArea
Listed 2023-11-20
$134,900
GreaterLansingArea
Listing removed 2023-05-02
$0
GreaterLansingArea
Relisted 2023-04-17
$119,900
GreaterLansingArea
Listing removed 2023-04-06
$0
GreaterLansingArea
Price Changed 2023-03-16
$124,900
GreaterLansingArea
Price Changed 2023-03-01
$127,500
GreaterLansingArea
Price Changed 2023-02-21
$129,900
GreaterLansingArea
Listed 2023-02-16
$134,900
GreaterLansingArea
Sold 2022-08-30
$89,900
GreaterLansingArea
Sold 2019-07-16
$29,500
GreaterLansingArea
Price Changed 2019-04-25
$44,900
GreaterLansingArea
Listed 2019-03-13
$49,900
GreaterLansingArea
Listing removed 2018-12-19
$0
GreaterLansingArea
Listed 2018-10-12
$49,900
GreaterLansingArea
Listing removed 2017-08-12
$50,000
GreaterLansingArea
Listed 2017-03-30
$50,000
GreaterLansingArea
Above Grade Finished Area: 1077
Building Exterior Type: Aluminum Siding
Construction Materials: Aluminum Siding
Levels: One and One Half
Property Age: 104
Roof: Shingle
Water Source: Public
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.