For Sale
323 W Wright Avenue, Shepherd, MI 48883
$489,000
MLS # 1944433 (Northern Great Lakes REALTORS® MLS)
Built 18500.68 acres
1 / 23
Listing Description
Rare Historic Multi-Family Opportunity in a prime Main Street location! Built by the original founder of Shepherd, this unique historic property offers exceptional income potential in the heart of Central Michigan. With over 5,000 finished sq ft, the building was previously configured as four separate apartment units, making it ideal for investors looking to restore a traditional 4-unit rental with two upper and two lower units, or explore flexible options such as short term rentals or an owner-occupied income property. The spacious layout includes a full basement, offering additional storage or future expansion possibilities. Situated on a generous lot, the property features an open side yard and a large parking area to accommodate tenants and guests. Located adjacent to a family-friendly park, directly across from popular restaurants and thriving local businesses, and less than 10 minutes from Central Michigan University, Soaring Eagle Casino & Resort, and Alma College, this property offers both convenience and strong rental appeal. Whether you're looking to expand your portfolio or create a one-of-a-kind income-producing property, the possibilities here are truly endless.
Source: SparkMLS
About this home
Located in Shepherd Village in Shepherd, this property offers 4-bath, with original construction dating to 1850.
Listed at $489,000.
Electric service is provided by Consumers Energy Company.
Listing Property Details
Property TypeMulti Family
Bathrooms4
Lot Size0.68 acres
Year Built1850
Location
CityShepherd
Zip Code48883
CountyIsabella
Construction & Systems
BasementDaylight, Other
HeatingForced Air
WaterPublic
SewerPublic
Sale & Financing
Listed4/28/2026
Terms AcceptedCash, Conventional, FHA, Land Contract, Other
Source: SparkMLS
Property Records
FEMA Flood Zone: Zone X — Minimal flood risk
Source: FEMA NFHLUSDA Rural Development: Eligible — 0% Down Payment Available
Verify eligibility at USDAListed by Dave Feger
EXP REALTY LLC
Frequently Asked Questions about 323 W Wright Avenue, Shepherd, MI 48883
What financing options are available for 323 W Wright Avenue, Shepherd, MI 48883?
Per MLS# 1944433, the seller has indicated this property accepts the following financing types: Cash, Conventional, FHA, Land Contract, Other. FHA financing can offer lower down payment requirements for qualified buyers. Financing acceptance is subject to change — confirm with the listing agent.
Is 323 W Wright Avenue, Shepherd, MI 48883 eligible for USDA financing?
Per USDA boundary maps, this property is located in a USDA-eligible area, which means qualified buyers may be able to finance with 0% down through the USDA Rural Development program. Confirm current eligibility directly with USDA.
What is the FEMA flood zone designation for this property?
Per FEMA's National Flood Hazard Layer, 323 W Wright Avenue, Shepherd, MI 48883 is in flood zone X (minimal risk). Flood insurance is not typically required in this zone but may still be advisable. FEMA flood maps are updated periodically — verify the current designation at msc.fema.gov.
Who are the utility providers for this property?
Per Michigan Public Service Commission service territory data: Electric: Consumers Energy Company. Gas: Consumers Energy Company. Sewer: Public. Water: Public. Confirm service details directly with providers.
How safe is this area?
For crime and public safety data, we recommend inquiring directly with the local police department or county sheriff's office.
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Monthly payment$3,172
Principal & interest$3,172
Estimate only. Does not include PMI or other fees. Consult a lender for exact rates.
Utilities
Consumers Energy Company
Investor-Owned
Consumers Energy Company
Investor-Owned
MI Public Service Commission service territory boundaries.
Property
323 W Wright Avenue, Shepherd, MI 48883
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Municipality
Shepherd Village
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