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For sale by owner
  • $250,000

    606 Shepard St, Lansing, MI 48912

    2beds
    1,568sqft
    : 
    $2,256/mo
    Get pre-qualified
    Apartment
    Built in 1925
    -- sqft lot
    $157,900 Zestimate®
    $159/sqft
    $-- HOA

    What's special

    Hardwood floors throughoutDriveway parkingAll kitchen appliances included
    Cash-Flowing Duplex for Sale – Lansing, MI $250,000 Fully occupied duplex with immediate cash flow. Great opportunity for an investor looking to add a solid rental property with room to increase rents. Current Rent • Lower Unit: $900/month • Upper Unit: $1,130/month • Total: $2,030/month ($24,360 annually) Property Features Both units currently rented Tenants pay gas, electric, water & trash Snow removal is tenant responsibility Separate gas, electric & water meters 2 brand new furnaces 2 brand new water heaters New front porch steps & railings Built in 1925 Hardwood floors throughout Driveway parking Unfinished basement with plenty of storage Laundry hookups for both units (one washer/dryer set included) All kitchen appliances included Major mechanicals have already been replaced, allowing the next owner to focus on collecting rent rather than making expensive repairs. If you’re looking for a turnkey investment that’s already generating income, this is one worth checking out. Asking Price: $250,000 Message me for additional information, lease details, or to schedule a showing.
    What the owner loves about this home
    Cash-Flowing Duplex for Sale – Lansing, MI $250,000 Fully occupied duplex with immediate cash flow. Great opportunity for an investor looking to add a solid rental property with room to increase rents. Current Rent • Lower Unit: $900/month • Upper Unit: $1,130/month • Total: $2,030/month ($24,360 annually) Property Features Both units currently rented Tenants pay gas, electric, water & trash Snow removal is tenant responsibility Separate gas, electric & water meters 2 brand new furnaces 2 brand new water heaters New front porch steps & railings Built in 1925 Hardwood floors throughout Driveway parking Unfinished basement with plenty of storage Laundry hookups for both units (one washer/dryer set included) All kitchen appliances included Major mechanicals have already been replaced, allowing the next owner to focus on collecting rent rather than making expensive repairs. If you’re looking for a turnkey investment that’s already generating income, this is one worth checking out. Asking Price: $250,000 Message me for additional information, lease details, or to schedule a showing.
    14 days
    109
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    Listed by:

    Property Owner (517) 375-2814

    This property is for sale by owner and Zillow, Inc. is displaying it at the owner's request. It is not subject to a listing agreement with Zillow, Inc. or its affiliates.

      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 2
      • Bathrooms: 1
      • Full bathrooms: 2
      Heating
      • Forced air, Other
      Cooling
      • None
      Appliances
      • Included: Dryer, Microwave, Range / Oven, Refrigerator, Washer
      • Laundry: Hookups
      Features
      • Flooring: Hardwood
      • Basement: Partially finished
      Interior area
      • Total interior livable area: 1,568 sqft

      Property

      Parking
      • Parking features: Off-street
      Features
      • Exterior features: Wood
      • Has view: Yes
      • View description: City
      Lot
      • Size: 3,049 Square Feet
      Details
      • Parcel number: 33010115484141

      Construction

      Type & style
      • Home type: Apartment
      Materials
      • Foundation: Slab
      • Roof: Asphalt
      Condition
      • New construction: No
      • Year built: 1925

      Community & HOA

      Location
      • Region: Lansing

      Financial & listing details

      • Price per square foot: $159/sqft
      • Tax assessed value: $70,000
      • Annual tax amount: $2,552
      • Date on market: 9/22/2026

        Estimated market value

        $157,900

        $136,000 - $180,000

        $1,206/mo

        Price history

        DateEventPrice
        9/22/2026Listed for sale$250,000+73%$159/sqft
        Source: Owner Report a problem
        9/8/2025Sold$144,500-9.6%$92/sqft
        Source: Greater Lansing AOR #289874 Report a problem
        9/3/2025Pending sale$159,900$102/sqft
        Source: Greater Lansing AOR #289874 Report a problem
        8/22/2025Contingent$159,900$102/sqft
        Source: Greater Lansing AOR #289874 Report a problem
        7/22/2025Listed for sale$159,900+2.2%$102/sqft
        Source: Greater Lansing AOR #289874 Report a problem
        2/8/2024Sold$156,500$100/sqft
        Source: Greater Lansing AOR #278148 Report a problem
        2/5/2024Pending sale$156,500$100/sqft
        Source: Greater Lansing AOR #278148 Report a problem
        1/23/2024Contingent$156,500$100/sqft
        Source: Greater Lansing AOR #278148 Report a problem
        1/17/2024Listed for sale$156,500$100/sqft
        Source: Greater Lansing AOR #278148 Report a problem
        10/21/2023Listing removed--
        Source: Zillow Rentals Report a problem
        9/27/2023Listed for rent$800+52.4%$1/sqft
        Source: Zillow Rentals Report a problem
        3/17/2021Listing removed--
        Source: Owner Report a problem
        2/29/2020Listing removed$525
        Source: Owner Report a problem
        2/19/2020Listed for rent$525+5%
        Source: Owner Report a problem
        10/1/2019Listing removed$500
        Source: Owner Report a problem
        9/20/2019Listed for rent$500
        Source: Owner Report a problem

        Public tax history

        YearProperty taxesTax assessment
        2025$2,552 +6%$70,000 +29.2%
        2024$2,407 $54,200 +23.5%
        2023-- $43,900 +19%
        2022-- $36,900 +8.2%
        2021-- $34,100 +5.2%
        2020-- $32,400 +19.1%
        2019$1,900 $27,200 +11.9%
        2018$1,900 +3.5%$24,300
        2017$1,836 $24,300 +1.7%
        2016$1,836 $23,900 +3.5%
        2015$1,836 $23,100 +0.9%
        2014$1,836 $22,900 -1.7%
        2013-- $23,300 -7.2%
        2012-- $25,100 -10%
        2011-- $27,900 -13.9%
        2010-- $32,400 -10.5%
        2009-- $36,200 -9%
        2008-- $39,800 -1.5%
        2007-- $40,400 +8%
        2006-- $37,400 +8.1%
        2005-- $34,600 +6.5%
        2004-- $32,500 +13.6%
        2003-- $28,600 +18.7%
        2002-- $24,100 +14.8%
        2001-- $21,000 +7.1%
        2000-- $19,600
        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.
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        Climate risks

        Neighborhood: Shepard Street

        Getting around

        69 / 100
        Somewhat Walkable
        38 / 100
        Some Transit
        80 / 100
        Very Bikeable

        Nearby schools

        GreatSchools rating

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