11420 W Rhoby Road
About This Property
Located in Northwestern Michigan between Cadillac and Traverse City is this gorgeous 200 acre parcel of land. If you're looking for a place to have a northern Michigan hunting retreat that is close to the year round enjoyment of the Cadillac / Traverse City area of Michigan then this is the place for you. Fantastic views on the rolling terrain and many places to build that dream house, log cabin, lodge or whatever your choice may be. Many mature pine and spruce trees, a Trout Pond, and approx. 85 acre of tillable land that brings in a solid farm lease income each year. This is absolutely a Multi- Use parcel of land.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jun 2, 2020 | Sold | ||
| Sold | |||
| May 24, 2019 | Listed by Michigan Whitetail Properties | $399,000 | |
| Listed by Michigan Whitetail Properties | |||
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About Missaukee
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Last Updated: 3 years ago
Data Source: MichRIC, MLS# 19024062
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