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  • $399,000

    213 Palmer St, Rives Junction, MI 49277

    6beds
    3baths
    3,282sqft
    : 
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    2 to 4 Units
    Built in 1900
    -- sqft lot
    $383,700 Zestimate®
    $122/sqft
    $-- HOA

    What's special

    Finished basementKitchenette area
    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.
    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#: 26024290MLS Logo

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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
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        Estimated market value

        $383,700

        $365,000 - $403,000

        $2,511/mo

        Price history

        DateEventPrice
        5/22/2026Listed for sale$399,000+99.6%$122/sqft
        Source: MichRIC #26024290 Report a problem
        2/4/2026Listing removed$199,900$61/sqft
        Source: MichRIC #21041114 Report a problem
        8/3/2024Pending sale$199,900$61/sqft
        Source: MichRIC #21041114 Report a problem
        5/5/2022Listing removed--
        Source: MichRIC #21041114 Report a problem
        7/20/2021Pending sale$199,900$61/sqft
        Source: MichRIC #21041114 Report a problem
        8/13/2020Sold$199,900$61/sqft
        Source: MichRIC #20020430 Report a problem
        7/27/2020Pending sale$199,900$61/sqft
        Source: Berkshire Hathaway HomeServices Michigan Real Estate #20020430 Report a problem
        6/25/2020Price change$199,900-9.1%$61/sqft
        Source: Berkshire Hathaway #20020430 Report a problem
        6/5/2020Listed for sale$219,900$67/sqft
        Source: Berkshire Hathaway HomeServices Michigan Real Estate #20020430 Report a problem

        Public tax history

        YearProperty taxesTax 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

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          Payment breakdown

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          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: 49277

          Getting around

          8 / 100
          Car-Dependent
          21 / 100
          Somewhat Bikeable

          Nearby schools

          GreatSchools rating

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