1627 Rasho Road, Traverse City, MI 49696
MULTI_FAMILY - Traverse City, MI
- Added:
- Apr 23, 2026
- Days on Market:
- 75
- Last Refresh:
- Jul 6 at 9:06 am
Property Features for 1627 Rasho Road
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Residential,Multi-Family
- Patio and Porch features
- Deck
- Interior features
- Laundry Hook-up, Drywall
- Exterior features
- Deck, Countryside View, Landscaped
- Appliances
- Refrigerator, Oven/Range, Dishwasher, Microwave, Washer, Dryer
- Standard status
- Active
- Size
- 5,008 SF
- Lot size
- 1.10 Acres
Taxes and HOA fees
- Tax Description
- LOT 1 EARLINGTON HILLS
Utilities
- Water source
- Private
Building Details
- Year built
- 1980
- Floors in Building
- 2
- Number of units
- 4
- Building materials
- Frame
- Roof type
- Asphalt
- Architectural style
- Other
Listing agent Troy Daily License #6501442788 (231) 288-7676
Listing office REMAX Bayshore - Union St TC 500 S Union Street, Traverse City, MI (231) 941-4500
Listing date Apr 23, 2026
Copyright © 2026 Northern Great Lakes Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Four‑unit property near Timber Ridge in Traverse City with three 2‑bedroom/1‑bath units and one 1‑bedroom/1‑bath unit
- Major 2023/2024 upgrades: new flooring, countertops, appliances, lighting, paint, HVAC units, and 3 new water heaters
- New roof completed February 2024, plus exterior paint
- Shared entry with common laundry; units include refrigerator, oven/range, dishwasher, microwave, washer, and dryer hookups
- Detached 5‑stall garage, adjacent deck area, landscaped grounds with a large lawn bordering woods
- Gross monthly income of $6,814 including rent, pet rent, and trash fees
Overview
The property is located on the east side of Traverse City, near Timber Ridge. Set on approximately 1.1 acres, it includes a detached 5-stall garage, an adjacent deck area, and a large lawn that borders woods.
The mix of unit sizes and the shared layout make this property workable for an owner looking for multiple income streams within one building. The extensive updates listed above can support continued, day-to-day usability while offering a straightforward residential income setup under Residential, Multi-Family zoning.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $81.1k | $16.20 |
| − Vacancy | −$3.7k | −$0.73 |
| EGI | $77.5k | $15.47 |
| − OpEx | −$23.2k | −$4.64 |
| NOI | $54.2k | $10.83 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Traverse City
- County
- Grand Traverse
- State
- Michigan
- Longitude
- -85.506953
- Latitude
- 44.709805
