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    Two-Unit Bi-Level Duplex Title is generated by Realmo AI

    2897 S 39 Road, Cadillac, MI 49601

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    For Sale
    $265,000

    Duplex (2 Story), Bi-Level,Duplex - Cadillac, MI

    Property size:
    1,700 SF
    Lot size:
    1.00 Acre
    Price / SF:
    $155/SF
    Added:
    Jun 1, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 3 at 5:06 am

    Property Features for 2897 S 39 Road

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Residential
    Rooms
    Basement, Dining Room, Kitchen, Living Room
    Parking
    1
    Parking features
    None
    Interior features
    Storage Space, Breakfast Nook, Foyer Entrance, Drywall, Other
    Basement Y/N
    1
    Appliances
    Dishwasher, Dryer, Microwave, Range, Refrigerator, Washer
    Standard status
    Active
    Size
    1,700 SF
    Lot size
    1.00 Acre

    Taxes and HOA fees

    Tax Annual Amount
    4053

    Utilities

    Heating system
    Baseboard

    Building Details

    Floors in Building
    2
    Number of units
    2
    Roof type
    Asphalt
    Architectural style
    Other

    We can help!

    Listing Contact
    Tamara McLeod-Helsel

    Listing agent Tamara McLeod-Helsel

    Listing office City2Shore Real Estate Northern Michigan 200 S Main St., Lake City, MI

    Listing date Jun 1, 2026

    MLS# 1945941 Listing URL

    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

    • Income‑producing bi‑level duplex with two 2‑bedroom, 1‑bath units and a proven rental history
    • Currently generates $1,800/month in rental income
    • Includes two in‑unit washers, two dryers, two stoves, two refrigerators, and two dishwashers
    • Basement included; interiors feature storage space, breakfast nook, and foyer entrance
    • Outdoor space includes back decks, a new patio area, and recent landscaping improvements
    • Seller updates include freshly painted exterior doors, re‑stained front and back decks, and a new hot water heater

    Overview

    This bi-level duplex offers a practical two-unit layout with two 2-bedroom, 1-bath homes, each featuring a living room and kitchen. The property is presented as a turnkey rental, with in-unit appliances included for both units: two washers, two dryers, two stoves, two refrigerators, and two dishwashers. Outdoor space includes back decks for grilling and relaxing, along with a new patio area and recent landscaping improvements aimed at strengthening curb appeal.

    The home sits on approximately 1 acre in a quiet country setting just minutes from Cadillac’s North End. Parking is described as ample and provides convenient access to both units, with additional backyard space for outdoor enjoyment. The seller notes updates including freshly painted exterior doors, re-stained front and back decks, and a new hot water heater.

    Designed for investors or owner-occupants, the structure supports collecting rental income from both units or living in one while offsetting expenses with tenant rent. The current rental arrangement is described as consistently occupied with tenants who pay on time and take good care of the property. Tenants are responsible for heat, electric, and internet, while landlord expenses are limited to taxes, insurance, and trash service, supporting income potential from day one.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Auto Repair Shop Bar & Pub (Bike/Boat/Book/etc) Store Bakery

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cadillac
    County
    Wexford
    State
    Michigan
    Longitude
    -85.436501
    Latitude
    44.296686

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    FAQs

    What type of property is this?
    Duplex - Turnkey two 2-bedroom units with in-unit laundry, outdoor decks, and a long-held rental track record.
    Where is this duplex located?
    The property is located at 2897 S 39 Road Cadillac, MI.
    What is the asking price?
    The asking price for this property is $265,000.
    What are key features of this property?
    This property features: Income‑producing bi‑level duplex with two 2‑bedroom, 1‑bath units and a proven rental history; Currently generates $1,800/month in rental income; Includes two in‑unit washers, two dryers, two stoves, two refrigerators, and two dishwashers
    (231) 920-6422
    We can help!
    Listing Contact
    Tamara McLeod-Helsel
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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