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2862 Arlene, Indian River, MI 49749

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For Sale

$950,000

Estimated Payment

$ 4,980 /mo. †

6.85% APR for 30 yrs.
$0 in taxes
Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

Explore this Property

Fantastic investment opportunity with 10 apartment units! There are four 1-bedroom apartments and six 2-bedroom apartments, all with one full bathroom. The combination of location and amenities--being close to the Indian River, the North Central Trail system, and downtown Indian River--makes it very appealing. The apartment complex offers views of the Indian River Canal, which is a great selling point. Features of the apartments include a backdoor leading to a spacious backyard and an open floor plan. With passive income potential, it seems like a solid property for someone looking to invest in a growing area with a mix of outdoor activities and small-town charm. Located 1/2 mile north of Indian River, just east of Straits Highway, making travel easy for owner and tenant.
MLS# 201833217

Courtesy Of Coldwell Banker Schmidt Indian River
3970 Sturgeon, Indian River, MI
(231) 238-9336

Property Features

  • Appliances
    Range, Refrigerator
  • Architecture Style
    Ranch
  • Cooling System
    None
  • Heating System
    Baseboard

Map and Directions

Directions to 2862 Arlene, Indian River, MI 49749

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Mortgage Calculator

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Monthly Payment Breakdown

  • Principle and Interest
    $4,980
  • Property Taxes
    $0
  • Hazard Insurance
    $0
  • Private Mortgage Insurance
    $0
  • HOA Dues
    $0
  • Total Monthly Payment:
    $4,980

Calculators provided for estimating purposes only. Consult with your lender to determine precise payment requirements.

Schools

Inland Lakes Elementary School

Grades KG-5 Public School

Indian River, MI 49749 1.7 miles
4363 s straits hwy

264 total students
16:1 Student teacher ratio

School Rating: D

School Details

Inland Lakes Secondary School

Grades 6-12 Public School

Indian River, MI 49749 1.7 miles
4363 s straits hwy

336 total students
16:1 Student teacher ratio

School Rating: B

School Details
Other Nearby Schools Distance Type Grades School Rating
Cop Esd Programs 2.9 miles Public PK-12
Northern Michigan Christian Academy 4.6 miles Private KG-12

Cop Esd Programs

Distance: 2.9 miles

Type Public

Grades: PK-12

Northern Michigan Christian Academy

Distance: 4.6 miles

Type Private

Grades: KG-12

School information does not guarantee enrollment. School service boundaries are provided as a reference only, may change, and are not guaranteed to be accurate. Contact the school district directly to verify school enrollment eligibility.

Local area information for Indian River, MI 49749

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Indian River, MI 49749

This community’s employment is highest in the sales and food industries. The area’s overall household expenses are above the national average.

81° July
Hottest Average Month
8° February
Coldest Average Month
1,935 Total Households in Area
3.5% Increase in population since the year 2010
18.1%
of households
have children
25 minutes
Median Commute Time

Household Expenses vs National Average

This location’s average annual expenditures by category compared to the national average. Index score (100=National Average)

Demographic facts
for Indian River, MI 49749

Indian River, MI 49749 has a population of 4,167 people in 1,935 households with a median age of 54.2 years old.

3.5%
Increase in population
since the year 2010
Population is Trending up
1,881
Total households as of 2010
1.5%
projected percent change in total
households in 5 years

Community Population By Age

The median age for this area is 54.2 years old. The smallest percentage group is 65-74 years and the largest percentage is the 85+ years age range.

Community Population By Ethnicity

White 91%
Native American 2%
Hispanic 1%
Asian <1%
Other <1%
Black <1%
The most prevalent ethnicity is White at 91%, followed by Native American at 2%, Hispanic at 1%, and Asian at <1%.

Economics
for Indian River, MI 49749

47 /sq mi
Population Density
$63,131 /yr
Median Household Income
$250,000
Median Sales Price
25 min
Median Commute Time

Household Expenses vs National Average

This location’s average annual expenditures by category compared to the national average. Index score (100=National Average)

Household by Income

Out of the households in this area, the largest income group is $50-74,999k representing 17.32% of the households.

Transportation to Work

  • Drive 86%
  • Work from Home 12%
  • Walk or Bike 2%
  • Public Transit 0%

Occupancy by Type

Owned 1,667 48%
Vacant 1,539 44%
Rented 268 8%

White vs Blue Collar Jobs







White Collar 72%
Blue Collar 28%

Family & Education Facts
for Indian River, MI 49749

54.2 Median Age

Average Household Size

2.2
persons per
household

52.4%

Married Households

Community Population By Education

High School Graduate 32%
Some College 21%
Bachelors Degree 18%
Graduate Degree 14%
Some High School 8%
Associates Degree 6%
Of the total people surveyed, the most prevalent educational attainment level is High School Graduate, representing 31.62% of the population.

Household Family Expenses vs National Average

This location’s average annual expenditures compared to the national average. Index score (100=National Average)
18% of households have children

Weather
for Indian River, MI 49749

The weather for this area ranges from a high of 81° F in July to a low of 8° F in February

81° July
Hottest Average Month
8° February
Coldest Average Month

Average Temperature by Month

Low (°F)
High (°F)
Jan
10°
27°
Feb
8°
29°
Mar
17°
39°
Apr
29°
53°
May
39°
67°
Jun
49°
76°
Jul
54°
81°
Aug
53°
78°
Sep
46°
69°
Oct
37°
58°
Nov
28°
43°
Dec
17°
31°

Average Temperature in Degrees Fahrenheit

Precipitation

Precipitation (inch)

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Copyright © 2025 Water Wonderland Board of Realtors&#174;. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Data powered by Attom Data Solutions. Copyright© 2025. Information deemed reliable but not guaranteed.

This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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