Active

$1,100,000

504-506 S 1st St, Jackson, MI 49203

12beds

8baths

4,880sqft

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5+ Units

Built in 1930

-- sqft lot

$1,044,300 Zestimate^®

$225/sqft

$-- HOA

What's special

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.

25 days

410

13

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Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 12
Bathrooms: 8

Heating

Baseboard, Radiant

Appliances

Laundry: Gas Dryer Hookup, In Basement, Washer Hookup

Features

Basement: Full

Interior area

Total interior livable area: 4,880 sqft

Property

Parking

Total spaces: 12
Parking features: Asphalt, Driveway

Lot

Size: 8,276 Square Feet
Dimensions: 62 x 135

Details

Parcel number: 3000700000 & 3000800000

Construction

Type & style

Home type: MultiFamily
Property subtype: 5+ Units

Materials

Wood Siding, Other

Condition

New construction: No
Year built: 1930

Utilities & green energy

Sewer: Public Sewer
Utilities for property: Natural Gas Available, Electricity Available, Natural Gas Connected, Electricity Connected

Community & HOA

Location

Region: Jackson

Financial & listing details

Price per square foot: $225/sqft
Tax assessed value: $91,100
Annual tax amount: $1,753
Date on market: 6/19/2026
Listing terms: Cash,Conventional
Tenant pays: Electricity, Gas
Electric utility on property: Yes

Estimated market value

$1,044,300

$992,000 - $1.10M

$1,028/mo

Price history

Date	Event	Price
6/19/2026	Listed for sale	$1,100,000$225/sqft
Source: MichRIC #26030627 Report a problem

Public tax history

Tax history is unavailable.

Monthly payment

Est. payment

Payment breakdown

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Principal & interest
$1,547
Mortgage insurance
$0
Property taxes
$170
Home insurance
$105
HOA fees
$0
Utilities
Not included

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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