Residential Income
For Sale
$350,000
186 Thrive Boulevard, Traverse City, MI 49686
Single Family, 2 Story, Duplex, Traverse City, MI
Property Size1,794 SF
Price / SF$195.09
Days on Market99
Property Features for 186 Thrive Boulevard
General Information
Property type
Residential
Property subtype
Duplex
Property condition
Under Construction
Zoning
Residential
Zoning description
Residential
Bedrooms
3
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 1, Dining Room, Bedroom 2, Bathroom 2, Bedroom 1, Bedroom 3, Family Room
Patio and Porch features
Porch, Patio
Interior features
Foyer Entrance, Walk-In Closet(s), Pantry, Solid Surface Counters, Island Kitchen, Beamed Ceilings, Vaulted Ceilings, Drywall
Exterior features
Sprinkler System, Patio, Countryside View, Covered Porch, Tennis Court, Landscaped, Porch, Gutters
Appliances
Refrigerator, Oven/Range, Dishwasher, Microwave, Washer, Dryer, Freezer, Exhaust Fan, Blinds, Drapes, Curtain Rods, Ceiling Fan, Electric Water Heater
Lot features
Condo/ None, Cleared, Level
Elementary school district
Traverse City Area Public Schools
Middle school district
Traverse City Area Public Schools
High school district
Traverse City Area Public Schools
Directions
Take Garfield Road south past the Garfield/Potter roundabout. Thrive Condominiums are on the right on Garfield Road. Once you enter, take Thrive Blvd to the right, and it's the second to last condo on the left.
Subdivision
Thrive TC
Standard status
Active
Size
1,794 SF
Taxes and HOA fees
Tax Description
UNIT 17 THRIVE TC CONDOMINIUM 2023C-00036 MASTER DEED, AS AMENDED SPLIT ON 08/24/2023 FROM 02-001-002-00; UNITS 1 THROUGH 26
HOA Fee
$225 Monthly
Legal Description
UNIT 17 THRIVE TC CONDOMINIUM 2023C-00036 MASTER DEED, AS AMENDED SPLIT ON 08/24/2023 FROM 02-001-002-00; UNITS 1 THROUGH 26
Utilities
Sewer type
Shared Septic
Water source
Private
Amenities
playground
gazebos
pickleball court
fenced dog run
Building Details
Year built
2025
Floors in Building
2
Building materials
Frame
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Keller Williams Northern Michigan · Keller Williams Realty
(231) 947-8200
Listed By:
Viki Simons
(231) 620-5797
Added: Jul 22
Changed: Oct 27
Last Checked: Oct 28 at 10:06PM
MLS# 1948310
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This residential income property offers 1,794 square feet of living area, with a finished basement, pantry, linen storage, and walk-in closet. The kitchen includes quartz countertops, a large island, and upgraded appliances, including a gas range. Vinyl plank flooring, custom hardware, and window blinds are also present. A 26-foot attached carport provides covered parking and outdoor storage space.
Community grounds include landscaping, a playground, gazebos, a pickleball court, and a fenced dog run. The property is in Traverse City, Michigan, and has private water service and a shared septic system.
Community grounds include landscaping, a playground, gazebos, a pickleball court, and a fenced dog run. The property is in Traverse City, Michigan, and has private water service and a shared septic system.
Key Highlights
- 1,794 square feet of living area with a finished basement
- Island kitchen with quartz countertops and a gas range
- Attached 26‑foot carport offers covered parking and storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,050
Cap Rate
4.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$341,000
$341.0K
Cap Rate 7%
$243,571
$243.6K
Cap Rate 9%
$189,444
$189.4K
Market Conditions
NOI Build-Up for 1,794 SF
Gross rent
$32.3K $18.00/SF
− Vacancy
−$1.3K −$0.72/SF
EGI
$31.0K $17.28/SF
− OpEx
−$14.0K −$7.78/SF
NOI
$17.1K $9.50/SF
Area
Grand Traverse County, MI
Vacancy
4.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$341,000
Cap Rate 7%
$243,571
Cap Rate 9%
$189,444
Alternative Uses
Best Use
Apartment 5plus
$243.6K
$213.1K – $284.2K
NOI $17,050 @ 7.0% cap · market cap 4.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$389.7K
$341.0K – $454.7K
NOI $27,280 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
Explore this area
Business Placement
Demographics for 49686, MI
25,859
Population
13,261
Households
2
Avg Household Size
45
Median Age
46%
College-Educated
95%
High-School Grad
47.3 sq mi
ZIP Area
547
Density / Sq Mi
$71,198
Median Household Income
$40,373
Median Earnings
$1,209
Median Rent
$295,500
Median Home Value
Frequently Asked Questions
What type of property is this?
Residential income property - The residence features a finished basement, an island kitchen, and covered parking with additional storage utility.
Where is this residential income property located?
The property is located at 186 Thrive Boulevard Traverse City, MI.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1,794 square feet of living area with a finished basement; Island kitchen with quartz countertops and a gas range; Attached 26‑foot carport offers covered parking and storage
