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Bond Real Estate & Design
5316/5318 S Waverly Road, Lansing, MI 48911
- $179,900
- 2
- BA
- List Price
- $179,900
- Price Change
- ▼ $10,000 1791659444
- Status
- ACTIVE UNDER CONTRACT
- MLS#
- 299819
- Acres
- 0.28
- Year Built
- 1942
- Days on Market
- 0
Property Description
Investment opportunity in Lansing! Located at 5316 and 5318 S Waverly, this property features two units, each with 3 bedrooms, 1.5 bathrooms, and about 900 square feet, for a combined monthly rental income of $2,450. The unit at 5316 rents for $1,550 per month, with improvements including a new roof ($15,000), a new kitchen countertop, and newly installed gutters. The unit at 5318 rents for $900 per month to a longstanding tenant on a month-to-month lease and features new siding ($15,000), a new furnace ($6,000), and newly installed gutters. The same owner also owns 5400 Waverly, Lansing, MI 48911, which is currently for sale, offering an opportunity to purchase an additional income property. Across all units, driveways have been filled and smoothed with crushed concrete, handrails have been installed at all front entrances, and gutters are cleaned annually. Tenants are responsible for all utilities and trash service, and the water heaters are approximately 10 years old. The rental license for this duplex is due for renewal in 2029.
Additional Information
- Appliances
- Gas Water Heater
- Exterior
- Vinyl Siding
- Basement
- Crawl Space
- School District
- Holt/Dimondale
- Heating
- Forced Air, Natural Gas
- Water
- Public
- Sewer
- Public Sewer
- Terms
- Cash, FHA, VA Loan, Conventional
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Listing courtesy of Listing Agent: Dana Costello (danacostellohomes@gmail.com) from Listing Office: Berkshire Hathaway HomeServices.
©2026, Greater Lansing Association of Realtors. All rights reserved. Information is for consumers' personal, non-commercial use and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program. Real estate listings held by brokerage firms other than our company are marked with the BR logo and detailed information about them includes the name of the listing brokers. Data is deemed reliable but is not guaranteed accurate by the GLAR MLS. Information last updated on