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    • Price cut: $26K (7/10)
    $409,000

    1954 E M 78, East Lansing, MI 48823

    6beds
    4baths
    3,165sqft
    : 
    $3,433/mo
    Get pre-qualified
    2 to 4 Units
    Built in 1940
    -- sqft lot
    $658,200 Zestimate®
    $129/sqft
    $-- HOA

    What's special

    Rare value-add opportunity at 1954-1964 E M-78 in East Lansing featuring two fully rented homes with leases expiring in August, giving flexibility for an owner-occupant or investor alike. Live in one home and rent out the other to help offset your mortgage while still benefiting from future development potential. Situated on a 1.61-acre parcel in the desirable Haslett School District with an impressive 555.24 feet of frontage on E M-78, this income-producing property offers strong cash flow today with major upside tomorrow. The seller has already received township approval for an additional structure with up to 5 more units, creating exceptional expansion and rental income potential. One home was custom built in 2022 while the second has been extensively updated, making this a rare opportunity for investors, multi-generational living, or long-term portfolio growth. Conveniently located near shopping, highways, dining, and Michigan State University. - 48 Hour Notice Required For Showing
    59 days
    |
    82
    |
    5
    |

    Zillow last checked:

    Listing updated:

    Listed by:

    Jer-Waun Kirkland 616-258-3103,

    616 Realty LLC 616-272-3707

    Source: MichRIC,MLS#: 26024752MLS Logo

      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 6
      • Bathrooms: 4
      Heating
      • Forced Air
      Cooling
      • Central Air
      Appliances
      • Laundry: In Basement
      Features
      • Basement: Slab
      Interior area
      • Total interior livable area: 3,165 sqft

      Property

      Parking
      • Total spaces: 4
      Lot
      • Size: 1.61 Acres
      • Dimensions: 1.61
      Details
      • Parcel number: 33020203101001
      • Zoning description: Residential

      Construction

      Type & style
      • Home type: MultiFamily
      • Property subtype: 2 to 4 Units
      Materials
      • Vinyl Siding
      Condition
      • New construction: No
      • Year built: 1940

      Utilities & green energy

      • Sewer: Public Sewer
      • Water: Well
      • Utilities for property: Electricity Connected

      Community & HOA

      Location
      • Region: East Lansing

      Financial & listing details

      • Price per square foot: $129/sqft
      • Tax assessed value: $196,344
      • Annual tax amount: $14,300
      • Date on market: 5/26/2026
      • Listing terms: Cash,Conventional
      • Tenant pays: Electricity, Gas
      • Electric utility on property: Yes

        Estimated market value

        $658,200

        $579,000 - $757,000

        $3,052/mo

        Price history

        DateEventPrice
        7/10/2026Price change$409,000-6%$129/sqft
        Source: MichRIC #26024752 Report a problem
        6/19/2026Price change$435,000-3.1%$137/sqft
        Source: MichRIC #26024752 Report a problem
        5/26/2026Listed for sale$449,000+245.4%$142/sqft
        Source: MichRIC #26024752 Report a problem
        11/1/2018Sold$130,000$41/sqft
        Source: Public Record Report a problem

        Public tax history

        YearProperty taxesTax assessment
        2025$13,710 +39.8%$218,000 -1.6%
        2024$9,805 $221,600 +46%
        2023-- $151,800 +107.4%
        2022-- $73,200 +6.6%
        2021-- $68,700 +6%
        2020-- $64,800 +14.1%
        2019$3,682 $56,800 +8%
        2018$3,682 +213.7%$52,600 -7.7%
        2017$1,174 $57,000 +2.3%
        2016$1,174 $55,700 +5.9%
        2015$1,174 $52,600 -27.5%
        2014$1,174 $72,600 +3.1%
        2013-- $70,400 -2.5%
        2012-- $72,200 -6.4%
        2011-- $77,100 +8.6%
        2010-- $71,000 -13.6%
        2009-- $82,200 -3.9%
        2008-- $85,500 -2.4%
        2007-- $87,600 +2.8%
        2006-- $85,200 +1.4%
        2005-- $84,000 +2.8%
        2004-- $81,700 +6.2%
        2003-- $76,900 +14.4%
        2002-- $67,200 +4.7%
        2001-- $64,200 +60.5%
        2000-- $40,000
        Find assessor info on the county website

        Monthly payment

        Est. payment

        Payment breakdown

        Explore the cost of this home by adjusting the details. Changes won't be saved.
        All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
        HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
        Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
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        Climate risks

        Neighborhood: 48823

        Getting around

        25 / 100
        Car-Dependent
        35 / 100
        Somewhat Bikeable

        Nearby schools

        GreatSchools rating

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