Equestrian Farm With Pole
For Sale
$469,999
3111 Howland Road, Almont, MI 48003
RESIDENTIAL, Farm, Residential, Almont Twp, MI
Property Size2,680 SF
Lot Size9.80 Acres
Price / SF$175.37
Days on Market49
Property Features for 3111 Howland Road
General Information
Property type
Residential
Property subtype
Farm
Zoning description
Agricultural, Residential
Bedrooms
5
Bathrooms
2
Full bathrooms
1
Half bathrooms
1
Rooms
Bedroom 5, Bedroom 1, Bathroom 1, Bathroom 2, Basement, Bedroom 3, Bedroom 4, Bedroom 2
Appliances
Dishwasher, Microwave, Range/Oven, Refrigerator
Subdivision
12e
Lot features
Deep Lot - 150+ Ft., Large Lot - 65+ Ft., Rural, Farm
Elementary school district
Almont Community Schools
Middle school district
Almont Community Schools
High school district
Almont Community Schools
Standard status
Active
APN
001-003-011-00
Size
2,680 SF
Lot size
9.80 Acres
Utilities
Heating system
Forced Air
Cooling system
Ceiling Fan(s)
Water source
Private
Building Details
Year built
1965
Floors in Building
2
Architectural style
Split Level
Listing Agency:
RE/MAX Eclipse · RE/MAX International
(586) 262-2000
Listed By:
Vincent Tanner · License #6501401097
(586) 883-4006
Added: Jul 10
Changed: Aug 19
Last Checked: Aug 27 at 8:06PM
MLS# 50214392
Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This farm property includes a 2,680-square-foot split-level residence constructed in 1965, with five bedrooms, a basement, and an updated kitchen equipped with white cabinetry, extensive countertops, a center island, and stainless steel appliances. The home also features forced-air heating, ceiling fans, a private water source, and an oversized septic system. The roof is approximately 9 years old, and immediate occupancy is available.
Set on 9.8 acres in Almont Twp, the property includes horse stables, a large pole barn, a chicken coop, and a pond. The acreage supports equestrian and hobby-farm use, while the property’s location in the Almont Community Schools district places it near town. Appliances include a dishwasher, microwave, range/oven, and refrigerator.
Set on 9.8 acres in Almont Twp, the property includes horse stables, a large pole barn, a chicken coop, and a pond. The acreage supports equestrian and hobby-farm use, while the property’s location in the Almont Community Schools district places it near town. Appliances include a dishwasher, microwave, range/oven, and refrigerator.
Key Highlights
- 9.8‑acre farm property in Almont Twp, MI
- 2,680‑square‑foot split‑level home built in 1965
- Horse stables, large pole barn, chicken coop, and pond
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$24,355
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.18%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$487,100
$487.1K
Cap Rate 7%
$347,929
$347.9K
Cap Rate 9%
$270,611
$270.6K
Market Conditions
NOI Build-Up for 2,680 SF
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.
Gross rent
$45.2K $16.86/SF
− Vacancy
−$904 −$0.34/SF
EGI
$44.3K $16.52/SF
− OpEx
−$19.9K −$7.44/SF
NOI
$24.4K $9.09/SF
Area
Lapeer County, MI
Vacancy
2.00%
Lease Rate
$16.86 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$487,100
Cap Rate 7%
$347,929
Cap Rate 9%
$270,611
Alternative Uses
Best Use
Apartment 5plus
$347.9K
$304.4K – $405.9K
NOI $24,355 @ 7.0% cap · market cap 5.18%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$438.9K
$384.0K – $512.0K
NOI $30,721 @ 7.0% cap · market cap 6.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Explore this area
Business Placement
Demographics for 48003, MI
6,506
Population
2,469
Households
2.6
Avg Household Size
42
Median Age
23%
College-Educated
95%
High-School Grad
33.2 sq mi
ZIP Area
196
Density / Sq Mi
$88,533
Median Household Income
$46,308
Median Earnings
$925
Median Rent
$275,200
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Farm - Split-level country home with stables, agricultural outbuildings, and a pond across a substantial rural parcel.
Where is this farm located?
The property is located at 3111 Howland Road Almont, MI.
What is the asking price?
The asking price for this property is $469,999.
What are key features of this property?
This property features: 9.8‑acre farm property in Almont Twp, MI; 2,680‑square‑foot split‑level home built in 1965; Horse stables, large pole barn, chicken coop, and pond
