Address
514 N Walnut Street, Lansing, MI
Price
$ 149,900
Property Attributes
- MLS#294234
- TypeMulti-Family
- Listing Status Active
- CountyINGHAM
- CityLansing
- AreaLansing City
- NeighborhoodOriginal of Lansing
- Zip48933
- StyleDuplex
- Year Built1894
- Price$ 149,900
- Bedrooms0
- Full Bathrooms2
- Half Bathrooms0
- Lot Size0.32 Acres
Data Source:
Greater Lansing AOR (GLMLS)
Property Description
WELCOME TO THIS WELL-MAINTAINED TWO-STORY DUPLEX OFFERING A FANTASTIC INVESTMENT OPPORTUNITY WITH STABLE, IMMEDIATE RENTAL INCOME. EACH UNIT FEATURES 2 BEDROOMS AND 1 FULL BATH WITH APPROXIMATELY 1,000 SQUARE FEET OF LIVING SPACE. BOTH UNITS ARE VERY CLEAN, WELL CARED FOR, AND CURRENTLY OCCUPIED BY TENANTS, MAKING THIS A TRUE TURNKEY, INCOME-PRODUCING PROPERTY. ENJOY OPEN AND SPACIOUS FLOOR PLANS FILLED WITH GREAT NATURAL LIGHT THROUGHOUT. THE PROPERTY ALSO INCLUDES A COIN-OPERATED LAUNDRY IN THE BASEMENT, PROVIDING ADDITIONAL REVENUE POTENTIAL. A LARGE PARKING LOT OFFERS AMPLE OFF-STREET PARKING FOR TENANTS. CONVENIENTLY LOCATED NEAR LCC, CLOSE TO DOWNTOWN DINING & NIGHTLIFE, AND JUST MINUTES FROM OLD TOWN & REO TOWN, THIS PROPERTY IS PERFECTLY SITUATED FOR CONTINUED STRONG RENTAL DEMAND A SOLID, STABLE INCOME EARNER READY TO ADD TO YOUR PORTFOLIO.
| Price History | |
|---|---|
| 3/4/2026 | Listed $158,500 |
| 5/27/2026 | 5$149,900 |
General Features
| Sewer | Public Sewer |
|---|---|
| Heating | Hot Water,Natural Gas |
| Cooling | None |
| Construction Materials | Rough Sawn,Wood Siding |
| Year Built | 1894 |
| Township | Lansing City |
| Levels | Two |
| Property Subtype | Duplex |
| Tax Year | 2025 |
| County | Ingham |
| Net Operating Income | 12540.0 |
| Operating Expense | 5300.0 |
| Insurance Expense | 1100.0 |
| Property Type | Resid/Multi-Family |
| Attached Garage | No |
| Subdivision Name | Original of Lansing |
| Garage Y/N | No |
| Status | Active |
| Directions | SAGINAW / WALNUT. SOUTH ON WALNUT TO DUPLEX |
| City | Lansing |
| Senior Community Y/N | No |
| High School District | Lansing |
| Zoning Description | Zoning |
| Number Of Units Total | 2 |
| Lot Size Units | Acres |
| Lot Size Square Feet | 13939.2 |
| Carport Y/N | No |
| Land Lease Y/N | No |
| Lease Renewal Y/N | No |
| Lease Considered Y/N | No |
| Rent Control Y/N | No |
| Standard Status | Active |
| Tax Assessed Value | 55321 |
| MobileHomeRemainsYN | No |
| Legal Description | W 104 FT LOT 9 BLOCK 71 ORIG PLAT |
| New Construction | None |
Interior Features
| Basement | Full |
|---|---|
| Basement (Y/N) | No |
| Air Conditioning Y/N | No |
| Heating Y/N | Yes |
| Above Grade Finished Area | 1826.0 |
| Laundry Features | In Basement,See Remarks |
| Total Baths | 2 |
Exterior Features
| Parking Features | Concrete,Parking Lot |
|---|---|
| Lot Features | City Lot |
| Water Source | Public |
| Total Parking | 4.0 |
| Lot Size Area | 0.32 |
| Spa | No |
| Lot Dimensions | 66x104 |
| Lot Size Acres | 0.32 |
| Waterfront Y/N | No |
| Road Frontage Type | City Street |
| Crops Included Y/N | No |
| Horse Y/N | No |
| Irrigation Water Rights Y/N | No |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 48933
Price
Year Built
Visits
Listing information is provided by Participants of the MichRIC MLS. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. ©: MichRIC MLS. Last Update September 24, 2026 7:10 PM UTC
Greater Lansing Association of Realtors® (GLAR) All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers
