Turn-Key Duplex with Separate
3434 & 3436 Mahoney Drive Traverse City, MI 49686
For Sale
$424,900
MULTI_FAMILY - Traverse City, MI
Property Size1,872 SF
Lot Size1.10 Acres
Price / SF$226.98
Days on Market56
Property Features for 3434 & 3436 Mahoney Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Multi-Family
Bedrooms
2
Bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bedroom 1, Bathroom 1
Patio and Porch features
Deck, Porch
Interior features
Laundry Hook-up, Drywall
Exterior features
Deck, Covered Porch, Gutters
Appliances
Refrigerator, Oven/Range, Microwave, Natural Gas Water Heater, Smoke Alarms
Standard status
Active
Size
1,872 SF
Lot size
1.10 Acres
Taxes and HOA fees
Tax Description
LOT 15 EARLINGTON HILLS
Utilities
Water source
Private
Building Details
Year built
1989
Floors in Building
1
Number of units
2
Building materials
Frame
Roof type
Asphalt
Architectural style
Other
Listing Agency:
The Mitten Real Estate Group
(231) 421-1970
Listed By:
Ben Phillips
(231) 499-9495
Added: Jun 4
Changed: Jul 27
Last Checked: Jul 29 at 4:06PM
MLS# 1946116
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.
Investment Insights
Based on property information with market context.
This turn-key duplex offers two separate units with distinct layouts and separate garages positioned in the center of the building. The property is described as having no shared walls between the units. The vacant side has been freshly updated with new paint, light fixtures, and a whole kitchen remodel. The rented unit includes new windows installed in 2019, and mechanical updates were completed in both units in 2026.
Water service is supported by Culligan iron sulfur buster systems installed in both units in 2019, and those systems are owned. The duplex is served by a private well and septic that services both units. The property is located about 12 minutes to Traverse City and about 5 minutes to Spider and Arbutus Lake.
Set on over an acre lot, the duplex provides substantial outdoor space for tenant use, with separate garage storage supporting each unit.
Water service is supported by Culligan iron sulfur buster systems installed in both units in 2019, and those systems are owned. The duplex is served by a private well and septic that services both units. The property is located about 12 minutes to Traverse City and about 5 minutes to Spider and Arbutus Lake.
Set on over an acre lot, the duplex provides substantial outdoor space for tenant use, with separate garage storage supporting each unit.
Key Highlights
- Duplex built in 1989 with frame construction, asphalt roof, and separate garages in the center of the duplex
- Vacant side freshly updated with new paint, light fixtures, and a whole kitchen remodel
- Rented unit has new windows installed in 2019
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 | $30.3k | $16.20 |
| − Vacancy | −$1.4k | −$0.73 |
| EGI | $29.0k | $15.47 |
| − OpEx | −$8.7k | −$4.64 |
| NOI | $20.3k | $10.83 |
1,872 SF · lease $16.20/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$289.6K
$253.4K – $337.9K
NOI $20,273 @ 7.0% cap · market cap 4.77%
Second Best
Apartment 5plus
$254.2K
$222.4K – $296.5K
NOI $17,791 @ 7.0% cap · market cap 4.19%
Theoretical Best
Office A
$406.7K
$355.8K – $474.4K
NOI $28,466 @ 7.0% cap · market cap 6.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - One side is occupied while the other has fresh paint, new fixtures, and a remodeled kitchen.
Where is this duplex located?
The property is located at 3434 & 3436 Mahoney Drive Traverse City, MI.
What is the asking price?
The asking price for this property is $424,900.
What are key features of this property?
This property features: Duplex built in 1989 with frame construction, asphalt roof, and separate garages in the center of the duplex; Vacant side freshly updated with new paint, light fixtures, and a whole kitchen remodel; Rented unit has new windows installed in 2019
