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Michiana 49117
3838 Ponchartrain Drive
$925,000
● House - Off Market

3838 Ponchartrain Drive

New Buffalo, MI 49117
bedrooms
3 Beds
bathrooms
2 Baths
square feet
1,650 Ft²
$885,693
RealtyHop Estimate
-0.37%
Since Nov 1, 2023
National-US
Primary Model

About This Property

This charming cottage with guest house is a Michiana Michigan gem. Undergoing major renovations, it provides a blank canvas for you to create your dream lake house or full time residence. After being gutted to the studs this home now has 1 primary bedroom en suite, 2 guest bedrooms another full bath and laundry all on the main floor. A gourmet kitchen with high end appliances and dining area open to the patio and landscaped back yard for entertaining al fresco. The full unfinished basement provides ample storage. The guest house has another full bath and provides room for a quiet work space, a place to sleep or a place to play. Less than a block to beautiful beaches you can enjoy breathtaking sunsets, a day in the sun and a dip in the lake.
Unit Size
1,650 Ft²
Days on Market
-
Land Size
0.23 acres
Price per sqft
$539
Property Type
House
Property Taxes
$382
HOA Dues
-
Year Built
1931

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Cap Rate Calculator

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Cap Rate 100% Occupancy
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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.

Last updated: 3 years ago (MichRIC MLS #23024517)

Price History

Date / Event Date Event Price
Oct 30, 2023 Sold
Premium
Sold
Jun 23, 2023 Listed by Coldwell Banker Realty $889,000
Listed by Coldwell Banker Realty
Aug 30, 1995 Sold
Premium
Sold
May 10, 1991 Sold
Premium
Sold

Property Highlights

Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1931
  • Effective Year Built: 1931
  • Building Count: 1
  • Bedroom Count: 2
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 3
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Cover: 0
  • Basement Type: 9
  • Basement Area: 940
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 9,845
  • Lot Size Depth Feet: 1,230
  • Lot Size Frontage Feet: 800
  • Total Building Area: 1,042
  • Building Area: 1,042
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 1,042
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: MICHIANA SHORES SUB
  • Land Acres: 0000000226
  • Standard Land Use Code: 1001
  • County Land Use Code: 401
  • Legal Description 1: LOTS 42 & 43 BLK 5 MICHIANA SHORES SUB NO 1

Neighborhood

  • School District Name: New Buffalo Area School District
  • School Tax School District: NEW BUFFALO
  • Census Tract: 011302

Zoning

  • Zoning: SELECTZONI

Geography

  • Assessors Map Reference: 024-4
  • District: 41
  • Parcel: 41-4850-0147-01-3
  • Block: 5
  • Lot: 42-43
  • Municipality: NEW BUFFALO TWP
  • Latitude: 41.762
  • Longitude: -86.8181

    Address

  • Full Address: 3838 Ponchartrain Dr
  • Address - House Number: 3838
  • Address - Street Name: Ponchartrain
  • Address - Suffix Type: Dr
  • State: MI
  • City Name: New Buffalo
  • Carrier Code: R001
  • 4-Digit Zip Code: 9157
  • Zip Code: 49117

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $524,070

    Appraisal Valuation

  • Standard Deviation: 0.2051
  • Valuation Date: Nov 08, 2023
  • Confidence Score: 72
  • Final Value: 689,958
  • High Value: 831,518
  • Low Value: 548,397

    Market Valuation

  • Market Total Value: $313,600

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $156,800

    Sales

  • Current Sale Contract Date: Aug 30, 1995
  • Current Sale Recording Date: Aug 30, 1995
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
  • Previous Sale Recording Date: May 10, 1991
  • Previous Sale Contract Date: May 10, 1991
  • Previous Sale Amount: $88,000
  • Previous Sale Document Type: 27
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Michiana

Stats & Trends

Median Asking:

$809,450

Sale Price/ft²

$460

Below Asking

0.01%

Average Days on Market

62

Average Home Size

2430 ft²

Average Home Age

60.3 years

Currently For Sale

3 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Rentals Near You

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MichRIC

Listed by: Line Mullins, Coldwell Banker Realty
Last Updated: 3 years ago
Data Source: MichRIC, MLS# 23024517
Information is deemed reliable but not guaranteed. Copyright 2026 MichRIC, LLC. All rights reserved. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.

Frequently Asked Questions

When was property at 3838 Ponchartrain Drive built and last sold?
The property at 3838 Ponchartrain Drive was built in 1931 and last sold on Aug 30, 1995 for $130,000.
How much is this home worth?
The estimated value of the home located at 3838 Ponchartrain Drive is $0.
What are some comparable homes to 3838 Ponchartrain Drive?
There are currently no comparable homes to 3838 Ponchartrain Drive.
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