504-506*** 1st Street, Jackson, MI 49203
Jackson County
Key Facts
Description
Income-producing 12-unit multifamily portfolio featuring an 8-unit building at 504-506 First St. and a 4-unit building at 510 First St. Offered as one package, this value-add investment provides immediate cash flow with upside potential through continued stabilization and rent optimization. Current gross income is approximately $101,000 annually with a current NOI of $63,000 and a 5.75% cap rate. Seller projections indicate potential stabilization to over $105,000 NOI and a cap rate approaching 9.6%. Located in a strong rental market with high renter occupancy, limited inventory, and consistent housing demand. Excellent opportunity for investors seeking workforce housing, multifamily assets, portfolio expansion, or a 1031 exchange acquisition in Jackson, Michigan.
Property Information
Property Type
Residential Income
Sub-Type
Multi Family
Year Built
1930
Lot Size
0.19 acres
Lot Dimensions
62 x 135
Parking Spaces
12
MLS® Listing#
26030627
Property Features
Heating
Basement
Parking
Laundry
Construction
Utilities
Sewer
Water Source
Schools
- District:
- Jackson
Financial Details
Annual Taxes
$1,753
Tax year 2025
Assessed Value
$91,100
Parcel Number
3-000700000 & 3-000800000
Affordability Calculator
$220,000
Estimated monthly payment
$5,855/mo
Principal $880,000 · Est. interest $1,227,678 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Jackson, MI
- 35
- Median Days on Market
- 1,554
- Median Sq Ft
- $133
- Median Price / Sq Ft
- 334
- Active Listings
Market statistics compiled from active EXIT Realty® and MLS listings in Jackson, MI.
Location
Points of Interest in Jackson, MI
Showing the Jackson area map.
Nearby Schools
Pa Wilson Academy
School · 0.2 mi away
Jackson County Jail
Secondary · 0.3 mi away
Jackson Public Schools
School · 0.4 mi away
Jackson High School
Secondary · 0.5 mi away
St. Mary Star of the Sea Schola
School · 0.6 mi away
Jackson Public Schools
Elementary · 0.6 mi away
McCulloch Elementary School
Elementary · 0.6 mi away
Queen of the Miraculous Medal School
School · 0.7 mi away
Cascades Elementary School
Elementary · 0.9 mi away
Francis Street Primary
Elementary · 1.0 mi away
Frost Elementary School
Elementary · 1.0 mi away
Bennett Schools
School · 1.0 mi away
JPS Montessori Center
Elementary · 1.0 mi away
Felician Children's Center
School · 1.0 mi away
Jackson Catholic Middle School
Elementary · 1.2 mi away
St John Elementary School
Elementary · 1.3 mi away
Hunt Elementary School
Elementary · 1.6 mi away
Amy Firth Middle School
School · 1.7 mi away
Parkside High School
Secondary · 1.7 mi away
Jackson Christian School
Elementary · 1.7 mi away
Commute Calculator
Nearby Homes
Similar Homes Nearby
Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 210 Hinckley Boulevard, Jackson, MI | $780,000 | — | 2 | 10,128 |
| 8653 Wildwood Court, Jackson, MI | $789,000 | 3 | 2 | 1,908 |
| 100 W Washington Avenue, Jackson, MI | $799,000 | — | 10 | 15,840 |
| 100 W Washington Avenue, Jackson City, MI | $799,000 | — | 10 | 15,840 |
| 1202-1206 Martin Luther King Junior Drive, Jackson City, MI | $799,900 | — | 2 | 5,460 |
| 1202-1206 Martin Luther King Junior Drive, Jackson, MI | $799,900 | — | 2 | 5,460 |
Moving Cost Estimate
EXIT Agents in Jackson
Listing Courtesy: ERA Reardon Realty, L.L.C. - 5177822996
Presented by: Jennifer Chmielewski