RURAL DUPLEX INVESTMENT WITH STRONG CASH FLOW AND SELLER LEASEBACK OPPORTUNITY - Turnkey rural duplex offering diversified rental income, outbuildings, and a built-in tenant via a sale-leaseback structure below current appraised value. This is a rare chance to acquire income-producing real estate with an agreed 36 month buy-back that targets a strong return on capital.
Property And Unit Details
• Unit 1: Currently rented at $2,500 per month, featuring 4 bedrooms, 2 bathrooms, a finished basement, and an on-site pole barn for storage, vehicles, or equipment - ideal for an owner-occupant or high-quality long-term tenant.
• Unit 2: Currently rented at $650 per month, offering 2 bedrooms, 1 bathroom, and a kitchenette area, perfect for steady supplemental income or multi-generational living.
• Rural setting provides privacy and a country feel while still within reasonable access to nearby towns, services, and employment corridors.
• The seller is specifically seeking an investor to complete a sale-leaseback transaction, selling the property and leasing it back to continue occupancy and operations. The property will be conveyed under current appraised value, creating immediate equity for the purchaser and supporting a compelling projected yield, especially with the agreed 36 month buy-back component.
Investment Highlights*
" Strong in-place rent roll from two units with different price points, reducing vacancy risk and supporting consistent monthly cash flow.
" Sale-leaseback structure keeps a committed tenant in place from day one, minimizing downtime and turnover costs for the investor.
" Contracted 36 month buy-back arrangement is designed to deliver a heavy return on investment over a defined hold period, making this an attractive option for investors seeking predictable exit timing.
Active
$399,000
213 Palmer St, Rives Junction, MI 49277
6beds
3baths
3,282sqft
2 to 4 Units
Built in 1900
-- sqft lot
$383,700 Zestimate®
$122/sqft
$-- HOA
What's special
Finished basementKitchenette area
- 27 days |
- 579 |
- 29 |
Zillow last checked:
Listing updated:
Listed by:
Doug Beiswanger 517-914-9555,
Coldwell Banker Beiswanger Realty Group 517-435-1500
Source: MichRIC,MLS#: 26024290
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Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 6
- Bathrooms: 3
Heating
- Forced Air
Cooling
- Central Air
Appliances
- Laundry: Laundry Room, Main Level
Features
- Basement: Full
Interior area
- Total interior livable area: 3,282 sqft
Video & virtual tour
Property
Parking
- Total spaces: 25
- Parking features: Aggregate, Driveway
Lot
- Size: 0.63 Acres
- Dimensions: 66 x 238
- Features: Level
Details
- Parcel number: 000031730300202
- Zoning description: Resd
Construction
Type & style
- Home type: MultiFamily
- Property subtype: 2 to 4 Units
Materials
- Brick, Vinyl Siding
- Roof: Other,Composition
Condition
- New construction: No
- Year built: 1900
Utilities & green energy
- Water: Private, Well
- Utilities for property: Cable Available, Phone Connected, Natural Gas Connected, Electricity Connected
Community & HOA
Community
- Subdivision: Palmer's Plat of Rives Junc
Location
- Region: Rives Junction
Financial & listing details
- Price per square foot: $122/sqft
- Tax assessed value: $138,695
- Annual tax amount: $5,610
- Date on market: 5/22/2026
- Listing terms: Cash,Conventional,Tax Def Exchange
- Tenant pays: Electricity, Sewer, Gas
- Electric utility on property: Yes
- Road surface type: Paved
Estimated market value
$383,700
$365,000 - $403,000
$2,511/mo
Price history
| Date | Event | Price |
|---|---|---|
| 5/22/2026 | Listed for sale | $399,000+99.6%$122/sqft |
Source: | ||
| 2/4/2026 | Listing removed | $199,900$61/sqft |
Source: | ||
| 8/3/2024 | Pending sale | $199,900$61/sqft |
Source: | ||
| 5/5/2022 | Listing removed | -- |
Source: | ||
| 7/20/2021 | Pending sale | $199,900$61/sqft |
Source: | ||
| 8/13/2020 | Sold | $199,900$61/sqft |
Source: | ||
| 7/27/2020 | Pending sale | $199,900$61/sqft |
Source: Berkshire Hathaway HomeServices Michigan Real Estate #20020430 Report a problem | ||
| 6/25/2020 | Price change | $199,900-9.1%$61/sqft |
Source: Berkshire Hathaway #20020430 Report a problem | ||
| 6/5/2020 | Listed for sale | $219,900$67/sqft |
Source: Berkshire Hathaway HomeServices Michigan Real Estate #20020430 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | -- | $172,400 +6.4% |
| 2024 | -- | $162,000 +49.7% |
| 2021 | $2,217 -23.9% | $108,200 +103.4% |
| 2020 | $2,913 | $53,200 -0.6% |
| 2019 | $2,913 -6.7% | $53,500 +6.6% |
| 2018 | $3,124 | $50,200 +4.6% |
| 2017 | $3,124 | $48,000 +9.3% |
| 2016 | $3,124 | $43,900 +4% |
| 2015 | $3,124 | $42,200 -1.2% |
| 2014 | $3,124 | $42,700 +4.4% |
| 2012 | -- | $40,900 -8.1% |
| 2011 | -- | $44,500 -6.7% |
| 2010 | -- | $47,700 -0.4% |
| 2009 | -- | $47,900 |
Find assessor info on the county website
Monthly payment
Est. payment$--/mo
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.
See how much you could borrow to make a competitive offer.
Climate risks
Neighborhood: 49277
Nearby schools
GreatSchools rating
- 3/10Northwest Elementary SchoolGrades: 3-5Distance: 6.5 mi
- 5/10R.W. Kidder Middle SchoolGrades: 6-8Distance: 3.9 mi
- 6/10Northwest High SchoolGrades: 9-12Distance: 3.8 mi
A local agent can set up tours, give advice and negotiate with sellers.
- Michigan
- Jackson County
- Rives Junction
- 49277
- 213 Palmer St






