17 days on rocket

8196 US2 Hwy, Rapid River, MI, 49878

$232,650

Home List Price

$2,763*

Closing Credit

7 Bedrooms
7 Full Baths
2,456 SqFt
$95/SqFt
Multi
Schools Nearby

Location

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8196 US2 Hwy, Rapid River$232,650

Buyer Closing Credits

$2,763*

1.25% Loan Amount

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Property Highlights

Home TypeMulti Family
Parking3 or More Spaces
Garage2 spaces
Year Built1970
HeatingSteam, Hot Water
WaterfrontNone
ViewNone
MLS #50138477
Lot Size0.50 Acres
StatusActive
(Accepting Backup Offers)

About 8196 US2 Hwy

Welcome to a fantastic investment opportunity in Rapid River – a 7-unit property ready to generate steady income for you. Currently, all units are rented out except for one, offering a reliable stream of rental income. The rental rates are favorable, and utilities, including cable, are conveniently included. This property boasts a strong rental history, ensuring a stable and lucrative investment for the future. Tenants can also enjoy a designated picnic area for added comfort and relaxation. Additionally, there's a 2-car detached garage available for personal use or as an additional rental opportunity, providing even more potential for income generation. The unit mix includes 6 studios and a spacious one-bedroom unit, catering to a diverse range of tenants. Numerous updates have been made throughout the years, enhancing the property's appeal and value. Most units are rented on a monthly basis, with some owners also accepting weekly rentals, maximizing occupancy rates. With a total monthly rent of $4624.00, this investment promises excellent returns. Don't miss out on this incredible opportunity to secure a profitable investment in Rapid River. Contact us today to learn more and seize the chance to add this gem to your portfolio.

Property Details

Property Features

Property Information:

  • Architectural Style: Ranch
  • Year Built: 1970
  • Stories: 1
  • Living Area: 2,456 SqFt

Listing Office:

  • Office Name: KEY REALTY DELTA COUNTY LLC
  • Office Phone: (906) 233-7455
  • Listing Agent: TAMMY GARLING

Interior Features

Interior Information:

  • Appliances: Range, Oven, Refrigerator
  • Basement: No

Bedroom and Bathroom Information:

  • Full Bathrooms: 7
  • Total Bedroom Count: 7

Exterior Features

Exterior Information:

  • Waterfront: None
  • View: None

Parking Information:

  • Garage Space: 2 spaces
  • Attached Garage: No
  • Parking: 3 or More Spaces

Lot Features

Lot Information:

  • Lot: Corner Lot, Rural Area, Cleared
  • Lot Size: 0.50 Acres

Utilities

Utilities Information:

  • Heating: Steam, Hot Water

School Info

Assigned Schools Information:

  • Tri-Township School, Public District Grades KG-12

School District Information:

  • School District: Rapid River Public Schools

Other

Directions Information:

  • Directions: US2 East Through Rapid River to Property on the Left

Price Information

Listing Price Info

Price Summary:

  • List Price: $232,650
  • Price Per SqFt: $95/SqFt

Agent Commission:

  • Buyer's Agent Commission: 2.5%
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Housing Market Comparison

See how this home compares to others in Rapid River, MI.

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Rapid River, MI

City

Med. List Price

$174.5K

Med. Price/SqFt

$140

Avg. Days On Market

21

8196 US2 Hwy vs Rapid River

17 DAYS ON ROCKET

-4 Days

$232,650

+$58.1K More

$95/SqFt

-$46 Less

KEY TAKEAWAY

This property is $58.1K more than the Median List Price and $46/SqFt less than other homes in Rapid River, MI.

Based on homes listed in March 2024

MLS Details

MLS Information:

  • MLS Name: Upper Peninsula Assoc of Realtors
  • MLS Number: #50138477

Listing Office:

  • Office Name: KEY REALTY DELTA COUNTY LLC
  • Office Phone: (906) 233-7455
  • Listing Agent: TAMMY GARLING

IDX Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.

The information published and disseminated by the Originating MLS is communicated verbatim, without change by the Originating MLS, as filed with it by its members. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.

Copyright 2024 MiRealSource. All rights reserved. The information provided hereby constitutes proprietary information of MiRealSource, Inc. and its shareholders, affiliates and licensees and may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, scanning or any information storage and retrieval system, without written permission from MiRealSource, Inc.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.

Note: Any Compensation information or listing brokers offer of compensation displayed is only applicable to other member participants of the source MLS.

Last updated on: 4/30/2024, 8:20:25 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

We're sorry, we currently don't have sales or tax history data for this listing.

Payment Calculator

$1,229

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$764

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

High School

school-card-donut-3609828
7
/10

  • Tri-Township School

  • 10070 Us Highway 2

  • 1.00 miles

  • Public District Grades KG-12

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $51,537. The majority of Rapid River, MI residents have income between $35k-100k annually. Residents typically live in single, no kids family. The most common level of education of people living in this area is post secondary degree.

All data provided by Home Junction and Claritas

Rocket Homes›Michigan›Delta County›Rapid River›49878›8196 US2 Hwy

This home is located at 8196 US2 Hwy in Rapid River, MI and zip code 49878. This 2,456 square foot home, which was built in 1970, sits on a 0.50 acre lot. Features: 7 bedrooms, 7 bathrooms. It has been listed on Rocket Homes since April 12, 2024 and is currently priced at $232,650.

In March 2024, listings were on the market for 21 days. During the same period, the median list price in this real estate market was $174,500.

From Rocket Homes Real Estate and based on county public records data.

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