Duplex With Attached
For Sale
$199,000
3622 S Gladwin Road, Prudenville, MI 48651
MultiFamily, Ranch, Prudenville, MI
Property Size2,300 SF
Price / SF$86.52
Days on Market108
Property Features for 3622 S Gladwin Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 4, Laundry Room, Bedroom 3, Bedroom 1
Subdivision
Moores Sub
Elementary school
Houghton Lake
High school
Houghton Lake
Elementary school district
Houghton Lake
Middle school district
Houghton Lake
High school district
Houghton Lake
Directions
Roscommon Rd to W Houghton Lake Dr, left onto m-18 S/S Gladwin Rd, house on right (approximately 1 mile)
Standard status
Active
APN
003-525-028-0000
Size
2,300 SF
Taxes and HOA fees
Tax Description
223 L-530 P-334 LOT 28 MOORE'S SUBD.
Legal Description
223 L-530 P-334 LOT 28 MOORE'S SUBD.
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Natural Gas, Baseboard
Cooling system
Ceiling Fan(s)
Water source
Well
Water front
1
Amenities
pole barn
fenced backyard
Building Details
Number of units
2
Building materials
Barn, Paved Street, Vinyl
Architectural style
Ranch
Listing Agency:
KW Northern Michigan Team Partners
(989) 745-8992
Listed By:
Lynn Leinonen
(989) 350-2857
Added: Jul 14
Changed: Oct 27
Last Checked: Oct 29 at 8:06AM
MLS# 201843156
Copyright © 2026 Water Wonderland Board of Realtors®. 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 ranch-style duplex contains 2,300 square feet across two apartments, each configured with two bedrooms and one bathroom. The property also includes an attached two-car garage and a pole barn, with a fenced backyard providing additional outdoor space.
Houghton Lake is one mile away. Water is supplied by a well, and the property uses a septic system.
Houghton Lake is one mile away. Water is supplied by a well, and the property uses a septic system.
Key Highlights
- Two 2‑bedroom, 1‑bathroom apartments
- 2,300 square feet in a ranch‑style building
- Attached 2‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,820
Cap Rate
5.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$216,400
$216.4K
Cap Rate 7%
$154,571
$154.6K
Cap Rate 9%
$120,222
$120.2K
Market Conditions
NOI Build-Up for 2,300 SF
Gross rent
$21.0K $9.12/SF
− Vacancy
−$5.5K −$2.40/SF
EGI
$15.5K $6.72/SF
− OpEx
−$4.6K −$2.02/SF
NOI
$10.8K $4.70/SF
Area
Roscommon County, MI
Vacancy
26.31%
Lease Rate
$9.12 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$216,400
Cap Rate 7%
$154,571
Cap Rate 9%
$120,222
Alternative Uses
Best Use
Multifamily LT 5
$154.6K
$135.3K – $180.3K
NOI $10,820 @ 7.0% cap · market cap 5.44%
Second Best
Apartment 5plus
$139.5K
$122.1K – $162.8K
NOI $9,768 @ 7.0% cap · market cap 4.91%
Theoretical Best
Office A
$378.5K
$331.2K – $441.6K
NOI $26,496 @ 7.0% cap · market cap 13.31%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
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Business Placement
Demographics for 48651, MI
4,396
Population
3,825
Households
1.1
Avg Household Size
56
Median Age
19%
College-Educated
92%
High-School Grad
71.0 sq mi
ZIP Area
62
Density / Sq Mi
$42,938
Median Household Income
$32,917
Median Earnings
$797
Median Rent
$156,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two apartments each have two bedrooms and one bath, alongside a pole barn and a fenced rear yard.
Where is this duplex located?
The property is located at 3622 S Gladwin Road Prudenville, MI.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bathroom apartments; 2,300 square feet in a ranch‑style building; Attached 2‑car garage
