213 Palmer Street
Rives Twp, MI, 49277 $ 399,000
Bedrooms2 Baths0.0 Monthly Estimate*
$ 2,457
Multi-Family Home for sale in Rives Twp, MI
for $399,000 with 2 bedrooms. This home was built in 1900 on a lot size of 0.63.
RURAL DUPLEX INVESTMENT WITH STRONG CASH FLOW AND SELLER LEASEBACK OPPORTUNITY - Turnkey rural duplex offering diversified rental income, outbuildings, and a built-in tenant via a sale-leaseback structure below current appraised value. This is a rare chance to acquire income-producing real estate with an agreed 36 month buy-back that targets a strong return on capital.Property And Unit Details Unit 1: Currently rented at $2,500 per month, featuring 4 bedrooms, 2 bathrooms, a finished basement, and an on-site pole barn for storage, vehicles, or equipment - ideal for an owner-occupant or high-quality long-term tenant. Unit 2: Currently rented at $650 per month, offering 2 bedrooms, 1 bathroom, and a kitchenette area, perfect for steady supplemental income or multi-generational living. Rural setting provides privacy and a country feel while still within reasonable access to nearby towns, services, and employment corridors. The seller is specifically seeking an investor tocomplete a sale-leaseback transaction, selling the property and leasing it back to continue occupancy and operations. The property will be conveyed under current appraised value, creating immediate equity for the purchaser and supporting a compelling projected yield, especially with the agreed 36 month buy-back component. Investment Highlights* " Strong in-place rent roll from two units with different price points, reducing vacancy risk and supporting consistent monthly cash flow. " Sale-leaseback structure keeps a committed tenant in place from day one, minimizing downtime and turnover costs for the investor. " Contracted 36 month buy-back arrangement is designed to deliver a heavy return on investment over a defined hold period, making this an attractive option for investors seeking predictable exit timing.
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FeaturesGeneralSewer PublicSewer
Heating ForcedAir NaturalGas
Cooling CentralAir
Utilities ElectricityConnected NaturalGasConnected PhoneConnected
Possession SubjectToTenantRights
Roof Composition Other
Construction Materials Brick VinylSiding
Year Built 1900
Property Subtype MultiFamily
Tax Year 2025
County Jackson
New Construction N
Property Type ResidentialIncome
HOA N
Attached Garage N
Subdivision Name PALMER'S PLAT OF RIVES JUNC
Garage Y/N N
Status Active
Directions In Rives from Rives Eaton Rd W on E Main S on Palmer St.
City RivesTownship_Jackson
Senior Community Y/N N
High School District Northwest
Zoning Description Residential
Number Of Units Total 2
MLS Area Area12031RivesTwp
Lot Size Units SquareFeet
Carport Y/N N
Land Lease Y/N N
Tax Annual Amount 5610.0
Home Warranty Y/N N
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Virtual Tour https://track.pstmrk.it/3s/www.zillow.com%2Fview-imx%2F7a8b2ed4-845d-490a-9d3e-f3efc25e036f%3FinitialViewType%3Dpano%26utm_source%3Ddashboard/cUpU/lYbFAQ/AQ/783373da-264b-4614-acd5-7c7a225c36b0/4/kNH https://track.pstmrk.it/3s/www.zillow.com%2Fview-imx%2F7a8b2ed4-845d-490a-9d3e-f3efc25e036f%3FinitialViewType%3Dpano%26utm_source%3Ddashboard/cUpU/lYbFAQ/AQ/783373da-264b-4614-acd5-7c7a225c36b0/4/kNH
Standard Status Active
Occupancy Type Owner
Tax Assessed Value 138695
Legal Description LOTS 16 AND 17 ALSO THE S 10 FT OF THE W 24 FT OF LOT 18 ALSO LOT 19 EXCEPT THE S 8.16 FT THEREOF OF PALMER'S PLAT OF RIVES JUNCTION; SPLIT ON 09/17/2008 FROM 000-03-17-303-002-01;
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InteriorBasement Full
Basement (Y/N) Y
Air Conditioning Y/N Y
Heating Y/N Y
Fireplace Y/N N
Laundry Features LaundryRoom MainLevel
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ExteriorParking Features Aggregate
Lot Features Level
Water Source Private Well
Total Parking 25.0
Lot Size Area 27443.0
Number of Buildings 1
Spa N
Lot Dimensions 66x238
Lot Size Acres 0.63
Road Surface Type Paved
Waterfront Y/N N
Crops Included Y/N N
Road Responsibility PublicMaintainedRoad
Horse Y/N N
Irrigation Water Rights Y/N N
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* Excluded FeaturesList ByDoug BeiswangerListing Agent
Coldwell Banker Beiswanger Realty GroupBroker
Affordability Calculator
- Monthly Principal & Interest
- $2,457
- Monthly Property Taxes
- $468
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyTrends Information provided by ATTOM Data Solutions.
848867 Elementary School
848732 Middle School
Unknown High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 5/22/2026 | $399,000 | | Listed Price |