5316-5318 South Waverly Road

New
New
5318: 5316
5316 & 5318
Waverly
Active
$179,900
Est: $1,224/moGet pre-approved
6 beds1,800 sqft

5316-5318 South Waverly Road, Lansing, MI 48911

Single FamilyProperty Type
0.28 acresLot Size
1942Year Built
$100/sq ftPrice per sq ft
6 carsParking Spaces

Description

Investment opportunity in Lansing! Located at 5316 and 5318 S Waverly, this property features two units, each with 3 bedrooms, 1.5 bathrooms, and about 900 square feet, for a combined monthly rental income of $2,450. The unit at 5316 rents for $1,550 per month, with improvements including a new roof ($15,000), a new kitchen countertop, and newly installed gutters. The unit at 5318 rents for $900 per month to a longstanding tenant on a month-to-month lease and features new siding ($15,000), a new...Investment opportunity in Lansing! Located at 5316 and 5318 S Waverly, this property features two units, each with 3 bedrooms, 1.5 bathrooms, and about 900 square feet, for a combined monthly rental income of $2,450. The unit at 5316 rents for $1,550 per month, with improvements including a new roof ($15,000), a new kitchen countertop, and newly installed gutters. The unit at 5318 rents for $900 per month to a longstanding tenant on a month-to-month lease and features new siding ($15,000), a new furnace ($6,000), and newly installed gutters. The same owner also owns 5400 Waverly, Lansing, MI 48911, which is currently for sale, offering an opportunity to purchase an additional income property. Across all units, driveways have been filled and smoothed with crushed concrete, handrails have been installed at all front entrances, and gutters are cleaned annually. Tenants are responsible for all utilities and trash service, and the water heaters are approximately 10 years old. The rental license for this duplex is due for renewal in 2029.
1 day on Market
  • Listed by: Dana Costello 517.712.6624 danacostellohomes@gmail.com Brokerage DRE #6505134676 • Berkshire Hathaway HomeServices
Last updated: 10/10/2026 10:22 AM • Source: Realcomp, MLS#: 630000299819
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Property Information for 5316-5318 South Waverly Road

Property Details

  • Taxes: $3,161 / year
  • MLS Type: Residential Income
  • County: Eaton County
  • Zoning Description: Multi Family

Building Information

  • Year Built: 1942
  • Lot Size: 0.28 AC / 12,196 SF

Summary

Location and General Information
  • Directions: Off of Waverly Road, South of Jolly
  • Latitude: 42.679561
  • Longitude: -84.603429
  • MLS Area Major: Area11012Lansing
Taxes and HOA
  • Parcel Number: 2323508001280013
  • Tax Amount Summer: $3,161.00
  • Tax Annual Amount: $3,161.00
  • Tax Assessed Value: $70,349.00
  • Tax Legal Description: COM 317.05 FT N OF SE COR OF N 100 A OF NE FRL 1/4, TH W 203 FT, N 79.94 FT, E 203 FT, S 79.94 FT TO BEG; SEC 1 T3N R3W, CITY OF LANSING.
  • Tax Year: 2025
School Information
  • Elementary School District: Holt
  • High School District: Holt
Parking
  • Parking Total: 6.0
  • Carport: Yes
  • Parking Features: Driveway, Carport

Property

Lot Information
  • Lot Size Acres: 0.28
  • Lot Size Dimensions: 79.94x153
Property and Assessments
  • State Equalized Value: 82500.0
  • Table: MF
  • Living Area: 1800.0
  • Above Grade Finished Area: 1800.0
  • Above Grade Finished Area Units: Square Feet
  • Class Name: Residential Income
  • Living Area Source: Assessor
  • Year Built: 1942
Building Features
  • Construction Materials: Vinyl Siding
  • Levels: One
  • Roof: Shingle
Utilities
  • Electric: Service100Amp
  • Sewer: Public Sewer
  • Water Source: Public

Interior and Exterior Features

Interior Features
  • Basement: Crawl Space
  • Heating: Forced Air, Natural Gas
  • Has Heating: Yes
  • Laundry Features: In Unit
  • UnitThreeBedNumberOf: 2

Multi Family

Multi Family Information
  • Number of Units Total: 2
  • Unit Records: 2
Income & Expenses
  • Gross Scheduled Income: $2,450.00

Unit Information

Unit 1
  • Actual Rent: $1,550.00
  • Description: 5316
  • Total Bathrooms: 1
  • Total Bedrooms: 3
  • Sq Ft: 900.0
  • Type: Three Bedroom
Unit 2
  • Actual Rent: $900.00
  • Description: 5318
  • Total Bathrooms: 1
  • Total Bedrooms: 3
  • Sq Ft: 900.0
  • Type: Three Bedroom

Agent

Sale and Listings
  • Public GLR Website: Yes

Property History for 5316-5318 South Waverly Road

DateEvent & SourcePriceAppreciation
Oct 10, 2026

Price Change

Greater Lansing AOR #299819

$179,900—
Oct 10, 2026

Price Change

Realcomp #630000299819

$179,900—
Oct 9, 2026

Listed (Active)

Realcomp #630000299819

$189,900—
DateEvent & SourcePrice
10/10/2026

Price Change

Greater Lansing AOR #299819

$179,900
10/10/2026

Price Change

Realcomp #630000299819

$179,900
10/09/2026

Listed (Active)

Realcomp #630000299819

$189,900

For completeness, we often displays two records for one sale: the MLS record and the public record.

Schools near 5316-5318 South Waverly Road

This home is within Holt Public Schools.
Rating
School
Type
Grades
Distance
Dimondale Elementary School
Public - K to 5
Washington Woods Middle School
Public - 5 to 6
Holt Junior High School
Public - 7 to 8
Holt Senior High School
Public - 9 to 12
Rating
School
Distance
Dimondale Elementary School
PublicK to 5

Washington Woods Middle School
Public5 to 6

Holt Junior High School
Public7 to 8

Holt Senior High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 5316-5318 South Waverly Road, Lansing, MI 48911

5316-5318 South Waverly Road is a single family home for sale in Lansing, MI 48911. This property was listed for sale on October 9, 2026 by Berkshire Hathaway HomeServices, it's currently listed at $179,900. This listing's school district is Holt Public Schools. Nearby schools include Dimondale Elementary School, Washington Woods Middle School and Holt Junior High School. 5316-5318 South Waverly Road is a 6-bed, 0-bath, 1,800 sqft single family home built in 1942.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Berkshire Hathaway HomeServices

IDX provided courtesy of Realcomp II Ltd. via Compass and its related brokerages. Copyright 2026 Realcomp II Ltd. Shareholders. IDX information is provided exclusively for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited. The data relating to real estate properties on this website was last updated on 10/10/2026 10:22 AM PST