509 Cornell Ave - Turnkey Investment in Prime East Lansing LocationLocated just minutes from Michigan State University, 509 Cornell is a proven investment property in one of East Lansing's most desirable rental markets. This spacious seven-bedroom home is currently licensed for up to 5 unrelated occupants, offering strong rental potential while complying with city regulations.With a solid history of reliable rental income and a lease secured through July 31, 2027, this property is an ideal addition to any investment portfolio. The unbeatable location ensures continued demand, making it perfect for student housing or group rentals. Don't miss this chance to own a high-performing asset in a high-demand area.
Sold for $394,000
$394,000
509 Cornell Ave, East Lansing, MI 48823
7beds
1,920sqft
Single Family Residence
Built in 1973
5,227 Square Feet Lot
$374,200 Zestimate®
$205/sqft
$3,265 Estimated rent
Home value
$374,200
$337,000 - $408,000
$3,265/mo
Zestimate® history
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$2,761/mo
Est. payment
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$2,761/mo
Est. payment
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Spacious seven-bedroom home
Zillow last checked:
Listing updated:
Listed by:
Megan Busque 517-204-7722,
RE/MAX Real Estate Professionals,
Hillary Goedert Henderson 517-449-2350,
RE/MAX Real Estate Professionals
Bought with:
John Douglas, 6501386927
Keller Williams Realty Lansing
Source: Greater Lansing AOR,MLS#: 291661
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 7
- Bathrooms: 2
- Full bathrooms: 2
Primary bedroom
- Level: First
- Area: 78.67 Square Feet
- Dimensions: 8.11 x 9.7
Bedroom 2
- Level: First
- Area: 78.57 Square Feet
- Dimensions: 8.1 x 9.7
Bedroom 3
- Level: First
- Area: 107.67 Square Feet
- Dimensions: 11.1 x 9.7
Bedroom 4
- Level: Second
- Area: 77.76 Square Feet
- Dimensions: 9.6 x 8.1
Bedroom 5
- Level: Second
- Area: 90.19 Square Feet
- Dimensions: 9.9 x 9.11
Dining room
- Level: Second
- Area: 87 Square Feet
- Dimensions: 8.7 x 10
Kitchen
- Level: Second
- Area: 71 Square Feet
- Dimensions: 7.1 x 10
Living room
- Level: Second
- Area: 150.87 Square Feet
- Dimensions: 14.1 x 10.7
Other
- Description: REC ROOM
- Level: First
- Area: 150.87 Square Feet
- Dimensions: 14.1 x 10.7
Heating
- Forced Air
Cooling
- None
Appliances
- Included: Washer/Dryer, Refrigerator, Dishwasher
- Laundry: In Basement
Features
- Basement: Finished
- Has fireplace: No
Interior area
- Total structure area: 1,920
- Total interior livable area: 1,920 sqft
- Finished area above ground: 1,920
- Finished area below ground: 0
Property
Parking
- Parking features: Driveway
- Has uncovered spaces: Yes
Lot
- Size: 5,227 Square Feet
- Dimensions: 40 x 135
Details
- Foundation area: 0
- Parcel number: 33200218216013
- Zoning description: Zoning
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Single Family Residence
Materials
- Wood Siding
Condition
- Year built: 1973
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Subdivision: Avondale
Location
- Region: East Lansing
Financial & listing details
- Price per square foot: $205/sqft
- Tax assessed value: $149,400
- Annual tax amount: $6,375
- Date on market: 10/1/2025
- Listing terms: Cash,Conventional
Price history
| Date | Event | Price |
|---|---|---|
| 10/28/2025 | Sold | $394,000-0.3%$205/sqft |
Source:  Greater Lansing AOR #291661 Report a problem | ||
| 10/8/2025 | Pending sale | $395,000$206/sqft |
Source: Greater Lansing AOR #291661 Report a problem | ||
| 10/1/2025 | Listed for sale | $395,000$206/sqft |
Source: Greater Lansing AOR #291661 Report a problem | ||
| 10/10/2019 | Listing removed | $2,750$1/sqft |
Source: Zillow Rental Manager Report a problem | ||
| 10/1/2019 | Listed for rent | $2,750$1/sqft |
Source: Zillow Rental Manager Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $6,146 +6.6% | $149,400 +3.9% |
| 2024 | $5,767 | $143,800 +11.1% |
| 2023 | -- | $129,400 +14.6% |
| 2022 | -- | $112,900 +2.8% |
| 2021 | -- | $109,800 |
| 2020 | -- | $109,800 +4.2% |
| 2019 | $5,340 | $105,400 +3% |
| 2018 | $5,340 | $102,300 +1.1% |
| 2017 | -- | $101,200 |
| 2016 | -- | $101,200 +8% |
| 2015 | -- | $93,700 |
| 2014 | -- | $93,700 +4.9% |
| 2013 | -- | $89,300 |
| 2012 | -- | $89,300 -0.1% |
| 2011 | -- | $89,400 |
| 2010 | -- | $89,400 |
| 2009 | -- | $89,400 +0.6% |
| 2008 | -- | $88,900 +3% |
| 2007 | -- | $86,300 +2.6% |
| 2006 | -- | $84,100 +5.1% |
| 2005 | -- | $80,000 +16.4% |
| 2004 | -- | $68,700 +7.3% |
| 2003 | -- | $64,000 +5.3% |
| 2002 | -- | $60,800 +6.5% |
| 2001 | -- | $57,100 +4.4% |
| 2000 | -- | $54,700 |
Find assessor info on the county website
Neighborhood: Avondale Square
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Nearby schools
GreatSchools rating
- 8/10Marble SchoolGrades: PK-5Distance: 0.4 mi
- 7/10MacDonald Middle SchoolGrades: 6-8Distance: 0.6 mi
- 9/10East Lansing High SchoolGrades: 9-12Distance: 0.6 mi
Schools provided by the listing agent
- High: East Lansing
Source: Greater Lansing AOR. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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Estimated market value
$374,200
Get a cash offer in 3 minutes
Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$374,200
- Michigan
- Ingham County
- East Lansing
- 48823
- Avondale Square
- 509 Cornell Ave
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