501 S University Ave, Mount Pleasant, MI, 48858
About This Home
Fully Occupied 5-Unit Investment Property on a Corner Lot with Proven Rental History. Fully leased until 2027, with management with good track record in place! Exceptional investment opportunity! This fully occupied 5-unit multifamily property sits proudly on a prime corner lot, offering excellent visibility and curb appeal. With a strong rental history and stable, long-term tenants, this property delivers consistent cash flow and minimal vacancy. Each unit is well-maintained and thoughtfully designed, featuring functional layouts that attract and retain quality renters. The property has been professionally managed and regularly updated, ensuring low maintenance costs and tenant satisfaction. Additional highlights include separate utilities, ample off-street parking, and a convenient location close to public transportation, shopping, and local amenities. Whether you’re a seasoned investor or looking to expand your portfolio, this turnkey property offers immediate income and long-term growth potential. Don’t miss your chance to own a solid, income-producing asset in a desirable neighborhood! Unit 1 800 square foot 3 bed 1 bath Unit 2 700 square foot 2 bed 1 bath Unit 3 900 square foot 3 bed 1 bath Unit 4 450 square foot 1 bed 1 bath Unit 5 1000 square foot 4 bed 1 bath Rents Currently $500-$900 per month Leases are signed in place until 2027
Getting Around
Very Walkable
Very Limited Transit
Very BikeableSchools
Construction
Condition
- Year built: 1900
Materials
- Foundation: Block
- Roof: Asphalt
- Construction materials: Frame,Vinyl Siding
Type & Style
- Home type: MultiFamily
- Property subType: Multi Family
Interior
Appliances
- Appliances included: Refrigerator,Oven/Range
Basement
- Has basement: Yes
- Basement: Partial,Michigan Basement
Features
- Storage,Drywall,High Speed Internet,Cable TV,DSL,WiFi
- Flooring: Hardwood
- Fireplace features: None
Heating & Cooling
- Heating features: Forced Air,Hot Water,Natural Gas
- Cooling features: Window Unit(s)
Interior Area
- Total structure area: 3,725
- Total interior livable area: 3,725 sqft
Property
Accessibility
- Accessibility features: None
Details
- Parcel number: 170000205200
- Attached to another structure: Yes
- Zoning description: Multi-Family
- Other equipment: TV Antenna,Dish TV
Features
- Levels: Two
- Stories: 2
- Exterior features: None
- Has spa: Yes
- Waterfront features: None
Lot
- Lot size: 7,840 sqft
- Lot size dimensions: 70 x 115
Parking
- Parking features: Detached
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
- Winter Weather
- Strong Wind
- Cold Wave
- Hail
- Inland Flooding
- Lightning
- Tornado
How This Home’s Risks Compare
FEMA Declared Disasters in Isabella 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 | $1,668 | $20,016 |
| Home Insurance * | $206 | $2,472 |
| Property Taxes | $321 | $3,852 |
| Electricity | $406 | $4,875 |
| Total | $2,601 | $31,212 |
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)
No zestimate history available
Price History
| Date | Event | Price |
|---|---|---|
| 2025-12-03 | Price change | $375,000 |
| 2023-04-26 | Listed for sale | $324,900 |
| 2021-11-13 | Listing removed | $274,900 |
| 2021-05-14 | Listed for sale | $274,900 |
For Sale by Agent
View on Zillow