#286644, Sandra Bailey-Bristol, Listing office: Howard Hanna Real Estate Executives
Property details
About 509 N Walnut St
Discover a fantastic investment opportunity in Lansing, Michigan, just minutes from the state capital and downtown entertainment districts. This fully rented multi-family property offers immediate cash flow with stable tenants in place, making it an ideal addition to any real estate portfolio. The property's prime location provides convenient access to local amenities, government offices, and vibrant downtown attractions, ensuring continued demand from tenants. With a little TLC and strategic updates, there's significant potential to increase property value and rental income, making this a smart investment for both seasoned investors and newcomers alike. This multi-family asset presents a compelling chance to add value through cosmetic improvements, upgrades, or operational efficiencies. The existing layout offers flexible options for renovations to modernize units and boost rental rates. The strong occupancy rate combined with its proximity to key Lansing landmarks positions this property as a stable, income-generating investment with promising upside. Whether you're looking to expand your rental portfolio or capitalize on Lansing's growing market, this property offers a rare opportunity to maximize returns with minimal initial effort.
Highlights
Home typeMulti Family
HeatingForced Air, Natural Gas
StatusActive
BasementYes
Lot size0.12 Acres
Year built1903
MLS #65025032568
Summary
- Basement: Yes
- Heating: Forced Air, Natural Gas
- List Price: $109,900
- Directions: I-496 E. take Exit 6 towards Walnut St. merge onto W. Malcolm X St., Left on S. Walnut St., home is on the right.
- Year Built: 1903
- Lot Size: 0.12 Acres
- MLS Number: 65025032568
- MLS Name: Greater Regional Alliance of REALTORS
- Office Name: Cody & Co.
- Office Phone: (616) 240-6590
- Listing Agent: Ricardo S Cottengim
Disclaimer: The data relating to real estate on this web site comes in part from the IDX of Realcomp II Ltd. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.
IDX information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited.
IDX provided courtesy of Realcomp II Ltd. Copyright © 2025 Realcomp II Ltd. Shareholders. All rights reserved. Originating MLS shown with each listing detail.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 7/16/2025, 6:45:31 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Price information
Property sales
We're sorry, we currently don't have property sales data for this listing.
Tax history
We're sorry, we currently don't have tax history data for this listing.
Nearby schools
5
Willow School
Public District PK-4
0.9 mi
•1012 W Willow St
1
Gier Park School
Public District PK-3
1.5 mi
•401 E Gier St
4
East Intermediate School
Public District 5-6
1.8 mi
•3131 W Michigan Ave
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $25,120. Typical income of Lansing, MI residents is less than $<35k annually. The most common type of family is single, no kids. The majority of residents in this area have post secondary degree education.
How much money do the neighbors make?
60%
<35k
35%
35k-100k
2%
100k-200k
3%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Masters Degree
Doctorate
What types of families live nearby?
86%
Single, No Kids
6%
Single, with Kids
5%
Married, No Kids
3%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
8%
<11 yrs old
2%
12-17 yrs old
59%
18-34 yrs old
25%
35-64 yrs old
6%
65+ yrs old
What do the neighbors do for fun?
NBA/WNBA
Major League Soccer (MLS)
Soccer
Where do the neighbors shop?
Express/Express For Men
Banana Republic
Forever 21
Where do the neighbors go to eat?
Starbucks
Sonic
Dominos Pizza
What do the neighbors drive?
Pontiac
Infiniti
Mazda
What do the neighbors listen to?
Urban Contemporary
Rhythmic Contemporary Hits
Jazz
All data provided by Home Junction and Claritas
Similar homes for sale
#287514, Brian Ozbun, Listing office: Bellabay Realty, LLC
#288165, Tracey Hernly & Co., Listing office: Howard Hanna Real Estate Executives
Backup offers
#287266, Kristen J VanDeventer, Listing office: Century 21 Affiliated
#20250013116, Lori A Brown, Listing office: Realhome Services and Solutions Inc
#287515, Brian Ozbun, Listing office: Bellabay Realty, LLC
#286119, Gary Naeyaert, Listing office: EXIT Realty Home Partners
#286379, Chris Roelofs, Listing office: Coldwell Banker Professionals -Okemos
#286381, Chris Roelofs, Listing office: Coldwell Banker Professionals -Okemos
#286374, Chris Roelofs, Listing office: Coldwell Banker Professionals -Okemos
Frequently asked questions
About 509 N Walnut St
The listing price of 509 N Walnut St property is $109,900.
The property 509 N Walnut St is a multi located in Lansing, Michigan, 48933.
Active Listing: 509 N Walnut St is For Sale (Active/New) which means the seller is accepting offers.
The nearby schools for 509 N Walnut St are: Willow School (GreatSchools Rating 5/10), Gier Park School (GreatSchools Rating 1/10), East Intermediate School (GreatSchools Rating 4/10), Midmichigan Leadership Academy (GreatSchools Rating 2/10), Windemere Park Charter Academy (GreatSchools Rating 6/10), Mt Hope School (GreatSchools Rating 3/10), Jw Sexton High School (GreatSchools Rating 3/10), Eastern High School (GreatSchools Rating 3/10), Everett High School (GreatSchools Rating 4/10).
The year of construction for 509 N Walnut St is 1903.
This home is located at 509 N Walnut St in Lansing, MI and zip code 48933 in the Downtown Lansing neighborhood. Features: 0 bathroom. It has been listed on Rocket Homes since July 3, 2025 and is currently priced at $109,900.
In June 2025 more than 109 listings in Lansing, MI were sold above the asking price. During the same period more than 27 listings were sold at asking price, while more than 46 were sold below. The inventory of homes for sale in Lansing, MI between May and June 2025 decreased by 0.8%. While the average time on the market in June 2025 was 14 days, the median list price was $160,000.
From Rocket Homes Real Estate and based on county public records data.