3,840 sqft

$375,000

1723 S Van Dyke Road, Bad Axe MI, 48413

Price per sqft$97.66

Property size3,840 sqft

Property typeCommercial

Overview

Active

Listed May 28, 2026

Updated 12 days ago

Bad Axe 27 mobile homes total, including the site manager's home. $300,000 Below Appraised Value |27-Unit Residential Income Portfolio | Offered at $375.000, This stabilized residential income portfolio comprises 27 single-mobile home residences on 23 AC properties. Running at 80% occupancy under continuous professional management, the portfolio generates $4000 in gross monthly rents - $4800 annually. At a standard 30% expense ratio, estimated NOI lands at approximately $30000, placing this offering at an 8.0% cap rate on the ask price not including the vacancy. To put that in perspective: you're buying a sub-9-cap asset for a 10-cap price.

Additional information

MLS^® ID: 60996824

Interior Features

Heating: Yes
Basement: No

Exterior Features

Lot Size: 23.45 Acres

Other Property Details

Taxes: $8,918
Tax Frequency: Annually
Municipality: Colfax Twp

Listed by Jack Butris with Real Estate One-Troy
Listing Contact: 248-931-5555

Based on information originating from the MiRealSource as of 10/12/2026. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

Data last updated on 10/12/2026 at 10:46 PM UTC