Side-by-Side
For Sale
$385,000
4364 Wyatt Road, Traverse City, MI 49684
Two matching residences provide three bedrooms, one bath, and washer/dryer hookups in each unit.
Property Size1,728 SF
Days on Market12
Property Features for 4364 Wyatt Road
General Information
Standard status
Active
Size
1,728 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Amenities
in-unit washer/dryer hookups
Building Details
Building Size
1,728 SF
Year Built
1972
Listing Agency:
REMAX Bayshore - West Shore Dr TC
Listed By:
Jen Warren
(231) 941-5600
Source:
Themittengroup
Added: Sep 2
Changed: Sep 6
Last Checked: Sep 12 at 7:43AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of REMAX Bayshore - West Shore Dr TC
Investment Insights
Based on property information with market context.
This side-by-side duplex contains two matching residences, each with 3 bedrooms, 1 bath, and 877 square feet. Both units include a living room, eat-in kitchen, and in-unit washer/dryer hookups. The property is currently occupied and has an established rental history.
Located at 4364 Wyatt Rd in Traverse City, the duplex is within Traverse City Area Public Schools and minutes from downtown Traverse City, shopping, and the broader Grand Traverse region. The property is situated in the Hearthside Acres neighborhood of Garfield Township.
Located at 4364 Wyatt Rd in Traverse City, the duplex is within Traverse City Area Public Schools and minutes from downtown Traverse City, shopping, and the broader Grand Traverse region. The property is situated in the Hearthside Acres neighborhood of Garfield Township.
Key Highlights
- Two‑unit side‑by‑side duplex
- Each unit includes 3 bedrooms, 1 bath, and 877 square feet
- Living room and eat‑in kitchen in each residence
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
$18,714
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
4.86%
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%
$374,280
$374.3K
Cap Rate 7%
$267,343
$267.3K
Cap Rate 9%
$207,933
$207.9K
Market Conditions
NOI Build-Up for 1,728 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
$28.0K $16.20/SF
− Vacancy
−$1.3K −$0.73/SF
EGI
$26.7K $15.47/SF
− OpEx
−$8.0K −$4.64/SF
NOI
$18.7K $10.83/SF
Area
Grand Traverse County, MI
Vacancy
4.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
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%
$374,280
Cap Rate 7%
$267,343
Cap Rate 9%
$207,933
Alternative Uses
Best Use
Multifamily LT 5
$267.3K
$233.9K – $311.9K
NOI $18,714 @ 7.0% cap · market cap 4.86%
Second Best
Apartment 5plus
$234.6K
$205.3K – $273.7K
NOI $16,423 @ 7.0% cap · market cap 4.27%
Theoretical Best
Office A
$375.4K
$328.5K – $438.0K
NOI $26,277 @ 7.0% cap · market cap 6.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
140
Businesses Nearby
Explore this area
Business Placement
Demographics for 49684, MI
22,025
Population
10,959
Households
2
Avg Household Size
49
Median Age
46%
College-Educated
96%
High-School Grad
52.8 sq mi
ZIP Area
417
Density / Sq Mi
$75,678
Median Household Income
$39,553
Median Earnings
$1,216
Median Rent
$375,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two matching residences provide three bedrooms, one bath, and washer/dryer hookups in each unit.
Where is this duplex located?
The property is located at 4364 Wyatt Road Traverse City, MI.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Two‑unit side‑by‑side duplex; Each unit includes 3 bedrooms, 1 bath, and 877 square feet; Living room and eat‑in kitchen in each residence
