Duplex with Two Long-Term
633 E Eighth Traverse City, MI 49686
New
633 E Eighth, Traverse City, MI, 49686
$350,000
For Sale
$350,000
MULTI_FAMILY - Traverse City, MI
Property Size1,428 SF
Lot Size0.09 Acres
Price / SF$245.10
Days on Market2
Property Features for 633 E Eighth
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Zoning
- Commercial,Rental History
- Bedrooms
- 6
- Bathrooms
- 2
- Rooms
- Bedroom 1, Bedroom 3, Bathroom 2, Bedroom 2, Bedroom 5, Bedroom 6, Bathroom 1, Bedroom 4
- Patio and Porch features
- Deck
- Interior features
- Fixer-Upper
- Exterior features
- Deck, Sidewalk
- Appliances
- Refrigerator, Oven/Range
- Standard status
- Active
- Size
- 1,428 SF
- Lot size
- 0.09 Acres
Taxes and HOA fees
- Tax Description
- LOT 33, BLK 6 HANNAH LAY & CO'S 5TH ADD
Building Details
- Year built
- 1891
- Floors in Building
- 2
- Number of units
- 2
- Building materials
- Frame
- Roof type
- Asphalt
- Architectural style
- Other
Listing Agency
MI Properties North Real Estate Group
(231) 263-8049
108 E Main Street, Kingsley, MI
Listed by
Stacy Allman · License #6501378259
(231) 944-5296
Added: Jul 20 Checked: Jul 21 at 4:06 am
MLS# 1948200
Listing URL
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 duplex is approximately 1,428 square feet on a 0.09-acre lot and is currently configured as two long-term rental units. Each apartment includes its own kitchen and living room, along with 2 bedrooms and 1 bathroom. The property is fully leased, and the current tenants are interested in remaining in place, offering an as-is rental income setup.
Located at 633 E Eighth in Traverse City, the home sits along the Eighth Street corridor. Public remarks indicate it is within walking distance to downtown shopping, restaurants, beaches, parks, and trails.
The property is identified with D-2 zoning, with stated flexibility for long-term rentals, short-term rentals, or commercial use. Please review the list in associated documents for additional details.
Located at 633 E Eighth in Traverse City, the home sits along the Eighth Street corridor. Public remarks indicate it is within walking distance to downtown shopping, restaurants, beaches, parks, and trails.
The property is identified with D-2 zoning, with stated flexibility for long-term rentals, short-term rentals, or commercial use. Please review the list in associated documents for additional details.
Key Highlights
- 1,428‑SF home built in 1891 with frame construction and an asphalt roof
- Sits on 0.09 acres on the Eighth Street corridor in downtown Traverse City
- Configured as two long‑term rental units—each unit has its own kitchen and living room, plus 2 bedrooms and 1 bathroom
Local 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 | $23.1k | $16.20 |
| − Vacancy | −$1.0k | −$0.73 |
| EGI | $22.1k | $15.47 |
| − OpEx | −$6.6k | −$4.64 |
| NOI | $15.5k | $10.83 |
1,428 SF · lease $16.20/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$220.9K
$193.3K – $257.8K
NOI $15,465 @ 7.0% cap · market cap 4.42%
Second Best
Apartment 5plus
$193.9K
$169.7K – $226.2K
NOI $13,572 @ 7.0% cap · market cap 3.88%
Theoretical Best
Office A
$310.2K
$271.4K – $361.9K
NOI $21,715 @ 7.0% cap · market cap 6.20%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Fully leased duplex configured as two units, each with its own kitchen and living space plus 2 bedrooms and 1 bath.
Where is this duplex located?
The property is located at 633 E Eighth Traverse City, MI.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1,428‑SF home built in 1891 with frame construction and an asphalt roof; Sits on 0.09 acres on the Eighth Street corridor in downtown Traverse City; Configured as two long‑term rental units—each unit has its own kitchen and living room, plus 2 bedrooms and 1 bathroom
