909 Jerome St, Lansing, MI, 48912
About This Home
Investor special with incredible income potential! This fully gutted property has been taken down to the studs, providing the perfect blank canvas to bring your vision to life. With a spacious layout and flexible floor plan, the home offers the potential to be transformed into a four-unit rental property (Zoned R-MX, subject to local approvals), making it an excellent opportunity for investors or developers. Conveniently located just across the street from the University of Michigan Health - Sparrow Hospital, just north of the Michigan Avenue corridor, this property is ideally positioned for short-term rentals, traveling healthcare professionals, or long-term tenants seeking a prime location near downtown Lansing. Much of the demolition has already been completed, allowing you to skip the teardown and move straight into the rebuilding process. Whether you're looking to create a high-performing investment portfolio or renovate and maximize value, this property is full of possibilities. Bring your plans, your contractor, and your imagination - opportunities like this don't come along often!
Getting Around
Very Walkable
Some Transit
BikeableSchools
Construction
Condition
- Year built: 1880
Materials
- Construction materials: Wood Siding
Type & Style
- Home type: SingleFamily
- Property subType: Single Family Residence
Interior
Appliances
- Appliances included: None
- Laundry features: None
Basement
- Has basement: Yes
- Basement: Full
Bedroom2
- Level: Second
- Area: 100
Bedroom3
- Level: Second
- Area: 100
Bedrooms & Bathrooms
- Bedrooms: 4
Cooling
- Cooling features: None
Dining Room
- Level: First
- Area: 100
Features
- Finished area below ground: 0
- Finished area above ground: 2,194
Interior Area
- Total structure area: 3,288
- Total interior livable area: 2,194 sqft
Kitchen
- Level: First
- Area: 100
Living Room
- Level: First
- Area: 100
Master Bedroom
- Level: Second
- Area: 100
Other
- Level: Second
- Area: 100
Property
Details
- Parcel number: 33010115154071
- Zoning description: Zoning
- Foundation area: 1094
Features
- Levels: Two
- Stories: 2
- Patio & porch: Covered,Porch
Lot
- Lot size: 0.25 Acres
- Features: City Lot
- Lot size dimensions: 66 x 165
Parking
- Parking features: Driveway,No Garage
- Has uncovered spaces: Yes
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Inland Flooding
- Strong Wind
- Tornado
- Cold Wave
- Hail
- Ice Storm
- Winter Weather
How This Home’s Risks Compare
FEMA Declared Disasters in Ingham County and Michigan
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $328 | $3,936 |
| Home Insurance * | $41 | $492 |
| Property Taxes | $95 | $1,140 |
| Electricity | $239 | $2,871 |
| Total | $703 | $8,436 |
Income You'd Need if You Spent...
Michigan FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-07-14 | Listed for sale | $65,000 |
| 2021-11-17 | Sold | $30,000 |
| 2014-05-22 | Sold | $18,000 |
| 1999-06-16 | Sold | $25,000 |
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