Residential Income Property with
New
For Sale
$250,000
3437 Holiday Road, Traverse City, MI 49686
Single Family, Duplex, 1 Story, Traverse City, MI
Property Size1,189 SF
Price / SF$210.26
Days on Market3
Property Features for 3437 Holiday Road
General Information
Property type
Residential
Property subtype
Duplex
Zoning
Residential
Zoning description
Residential
Bedrooms
3
Bathrooms
2
Full bathrooms
1
Half bathrooms
1
Rooms
Bedroom 3, Bathroom 1, Bedroom 1, Dining Room, Bedroom 2
Patio and Porch features
Deck
Interior features
Cathedral Ceilings, Foyer Entrance, Drywall
Exterior features
Sprinkler System, Deck, Countryside View, Gutters
Appliances
Refrigerator, Oven/Range, Disposal, Dishwasher, Microwave, Washer, Dryer, Natural Gas Water Heater
Lot features
Condo/ None, Wooded, Level, Sloping
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
From US-31 turn on Holiday Rd, go past Mt. Holiday and take the road right after Maplewood Ln to private road.
Subdivision
Northridge Condominiums
Standard status
Active
Size
1,189 SF
Taxes and HOA fees
Tax Description
UNIT 2 NORTHRIDGE CONDOMINIUMS SEC 15 T27N R10W MASTER DEED L1453 P519 1ST AMEND TO MASTER DEED L1513 P253
HOA Fee
$250 Monthly
Legal Description
UNIT 2 NORTHRIDGE CONDOMINIUMS SEC 15 T27N R10W MASTER DEED L1453 P519 1ST AMEND TO MASTER DEED L1513 P253
Building Details
Year built
1994
Floors in Building
1
Building materials
Frame
Roof type
Asphalt
Architectural style
Other
Listing Agency:
REMAX Bayshore - Union St TC · RE/MAX International
(231) 941-4500
Listed By:
Matthew Dakoske · License #6501148333
(231) 590-7722
Added: Oct 29
Changed: Oct 30
Last Checked: Oct 31 at 10:06AM
MLS# 1952118
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.
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Investment Insights
Based on property information with market context.
This 1,189-square-foot, three-bedroom condo was built in 1994 and has a framed basement, cathedral ceilings, a foyer entrance, and a deck. The kitchen is equipped with a refrigerator, oven/range, disposal, dishwasher, and microwave; a washer and dryer are also included. The roof was replaced in 2025, and vinyl flooring was added in 2026.
Mature trees surround the community. Mt. Holiday, nearby walking and biking trails, and GJ's are among the local destinations noted for the property.
Mature trees surround the community. Mt. Holiday, nearby walking and biking trails, and GJ's are among the local destinations noted for the property.
Key Highlights
- Three‑bedroom condo with 1,189 square feet of living area
- Framed basement
- Deck and countryside view
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,300
Cap Rate
4.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$226,000
$226.0K
Cap Rate 7%
$161,429
$161.4K
Cap Rate 9%
$125,556
$125.6K
Market Conditions
NOI Build-Up for 1,189 SF
Gross rent
$21.4K $18.00/SF
− Vacancy
−$856 −$0.72/SF
EGI
$20.5K $17.28/SF
− OpEx
−$9.2K −$7.78/SF
NOI
$11.3K $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%
$226,000
Cap Rate 7%
$161,429
Cap Rate 9%
$125,556
Alternative Uses
Best Use
Apartment 5plus
$161.4K
$141.3K – $188.3K
NOI $11,300 @ 7.0% cap · market cap 4.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$258.3K
$226.0K – $301.3K
NOI $18,080 @ 7.0% cap · market cap 7.23%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
65
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - The three-bedroom condo includes a framed basement and sits within a community surrounded by mature trees.
Where is this residential income property located?
The property is located at 3437 Holiday Road Traverse City, MI.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Three‑bedroom condo with 1,189 square feet of living area; Framed basement; Deck and countryside view
