About This Home

This 6-bedroom, 0-bathroom residential multi family at 213 Palmer Street in Rives Junction, MI is listed for $399,000. Built in 1900, on a 0.63 acres lot.

Key Features

  • Built in 1900
  • 0.63 acre lot
  • 25 parking spaces

Property Details

3 full
25 spaces
1900

Amenities

A/C
Listing Description

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 to complete 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.

Monthly Cost Estimate

$2,134/mo

20% down · 6.5% · 30 years

Principal$289
Interest$1,729
Insurance$116

Estimates only. Actual payments may vary.

Location

213 Palmer Street

Rives Junction, MI 49277

Palmer's Plat of Rives Junc

Property Details

Construction

Brick Vinyl Siding

Parking

Driveway

Heating

Forced Air

Cooling

Central Air

Questions & Answers

This 6-bedroom, 0-bathroom residential multi family at 213 Palmer Street is listed at $399,000. The estimated monthly payment is $2,134 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.

Key features include: Built in 1900, 0.63 acre lot, 25 parking spaces.

This property is listed by Doug Beiswanger.

DB

Doug Beiswanger

Agent at BNR Real Estate Group

Listed by BNR Real Estate Group · Broker phone: 1 517-435-1500 · View on Broker Site

MLS# 26024290· Source: Michigan Regional Information Center, LLC.· 161 days on PropertySimple

Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

213 Palmer Street, Rives Junction, MI 49277

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