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11 Beds
10 Baths
5,360 sqft

$1,100,000

710 Water Street, East Jordan MI, 49727

Price per sqft$205.22
Built in2023
Property size5,360 sqft
Property typeMulti-family

Overview

Active

Listed Sep 7, 2026

Updated 5 days ago

Positioned in East Jordan, this turn-key 4-unit townhouse complex (built in 2023) offers a high-yield investment with strong in-place cash flow, verified operating history, and long-term development upside. Generates $8,800/month ($105,600/year) in gross scheduled rent across four fully leased units. Offered at $1,100,000, the property delivers an attractive 10.4x Gross Rent Multiplier and a 6.11% in-place Cap Rate ($67,161 actual leased NOI before vacancy). Even with a conservative 5% vacancy/credit loss reserve, the property yields a stabilized $61,881 NOI (5.63% Cap Rate) based on verified annual property taxes of $15,193.70. Owner-paid expenses are minimized as Units 1, 3, and 4 are tenant-responsible for primary utilities (owner covers trash & internet only). Each unit features high-end finishes, natural gas forced-air heat, central air conditioning, dedicated carports, private rear decks, full 2023 appliance packages, and independent utility metering. Layouts include three 3-bedroom/2.5-bath townhomes with private ensuite bedrooms, and one 2-bedroom/2.5-bath dual-ensuite unit. Proven Stability & Inclusions: Units 3 and 4 feature reliable long-term tenants of three years. Turn-key inventory inclusion: Units 1 and 4 convey fully furnished. Development Upside: Engineered with a 2-hour fire-rated separation wall between units to facilitate future condo conversion, offering a clear exit strategy to sell off individual townhomes for maximum capital realization. Site plan available upon request. Low-maintenance exterior connected to municipal water and sewer. Seller is a licensed Realtor in the State of Michigan.

$7,318/mo

Est. mortgage payment based on a $1,100,000 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
480728

Interior Features

Bedrooms
11
Bathrooms
10
Heating
Yes
Basement
No

Other Property Details

Waterfront
Yes

Also listed on NMMLS

MLS provider logo

Listed by Brienna Roberts with Berkshire Hathaway HomeServices Real Estate - BC
Listing Contact: 231-244-9899 

The IDX display contains information sourced from the Emmet Association of REALTORS® as of 9/26/2026. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.

©2026 Emmet Association of REALTORS® all rights reserved.

Data last updated on 9/26/2026 at 3:11 AM UTC

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