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.
For sale by owner
$250,000
606 Shepard St, Lansing, MI 48912
2beds
1,568sqft
Apartment
Built in 1925
-- sqft lot
$157,900 Zestimate®
$159/sqft
$-- HOA
What's special
Hardwood floors throughoutDriveway parkingAll kitchen appliances included
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
- 1
Listed by:
Property Owner (517) 375-2814
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
| Date | Event | Price |
|---|---|---|
| 9/22/2026 | Listed for sale | $250,000+73%$159/sqft |
Source: Owner Report a problem | ||
| 9/8/2025 | Sold | $144,500-9.6%$92/sqft |
Source: | ||
| 9/3/2025 | Pending sale | $159,900$102/sqft |
Source: | ||
| 8/22/2025 | Contingent | $159,900$102/sqft |
Source: | ||
| 7/22/2025 | Listed for sale | $159,900+2.2%$102/sqft |
Source: | ||
| 2/8/2024 | Sold | $156,500$100/sqft |
Source: | ||
| 2/5/2024 | Pending sale | $156,500$100/sqft |
Source: | ||
| 1/23/2024 | Contingent | $156,500$100/sqft |
Source: | ||
| 1/17/2024 | Listed for sale | $156,500$100/sqft |
Source: | ||
| 10/21/2023 | Listing removed | -- |
Source: Zillow Rentals Report a problem | ||
| 9/27/2023 | Listed for rent | $800+52.4%$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 3/17/2021 | Listing removed | -- |
Source: Owner Report a problem | ||
| 2/29/2020 | Listing removed | $525 |
Source: Owner Report a problem | ||
| 2/19/2020 | Listed for rent | $525+5% |
Source: Owner Report a problem | ||
| 10/1/2019 | Listing removed | $500 |
Source: Owner Report a problem | ||
| 9/20/2019 | Listed for rent | $500 |
Source: Owner Report a problem | ||
Public tax history
| Year | Property taxes | Tax 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






