NOT LISTED FOR SALE

1516 Lake Dr Traverse City, MI 49684

Estimated Value: $405,000 - $459,000

3 Beds
2 Baths
1,295 Sq Ft
$333/Sq Ft Est. Value

Last Sold August 26, 2015

Last sale price $148,550 $115 Per Sq Ft

Est. 190% increase in value since last sale

Current estimated payment $2,586/month

14 Days on Market

Highlights

  • Private Waterfront
  • Sandy Beach
  • Ranch Style House
  • Deeded Waterfront Access Rights
  • Deck
  • Corner Lot

About This Home

As of August 2015

Just minutes from town this 3 bed 2 bath 1,295 square foot home sits on a corner lot with Silver Lake views and shared water frontage directly across the street. Enjoy the luxury of living on a lake but at a fraction of the cost.

Last Agent to Sell the Property

Weston Buchan

REO-TCRandolph-233022 License #6501369466 Listed on: 06/09/2015

REO-TCRandolph-233022

Last Buyer's Agent

Thomas Cronin

Traverse Real Estate License #6502367206

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $3,834

Year Built

  • Built in 1950

Lot Details

  • 0.45 Acre Lot
  • Lot Dimensions are 84 x 215
  • Private Waterfront
  • 50 Feet of Waterfront
  • Sandy Beach
  • Corner Lot
  • Lot Has A Rolling Slope
  • Sprinkler System
  • The community has rules related to zoning restrictions

Parking

  • 2 Car Detached Garage

Property Views

  • Water
  • Seasonal

Home Design

  • Ranch Style House
  • Fire Rated Drywall
  • Frame Construction
  • Asphalt Roof
  • Vinyl Siding

Interior Spaces

  • 1,295 Sq Ft Home
  • Beamed Ceilings
  • Crawl Space

Kitchen

  • Oven or Range
  • Microwave
  • Dishwasher

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Full Bathrooms

Laundry

  • Dryer
  • Washer

Outdoor Features

  • Deeded Waterfront Access Rights
  • Property is near a lake
  • Deck
  • Patio

Utilities

  • Window Unit Cooling System
  • Baseboard Heating
  • Well
  • Satellite Dish

Community Details

  • Silver Pines Resort Community

Home Details

Home Type

Single Family

Est. Annual Taxes

$3,834

Year Built

Built in 1950

Lot Details

0

Listing Details

  • Class: Single Family
  • Type: Residential
  • Style: Ranch
  • Estimated Year Built: 1950
  • Construction: Frame
  • Private Shared: Shared
  • Special Features: None
  • Property Sub Type: Detached
  • Year Built: 1950
  • Year Renovated: 2003

Interior Features

  • Appliances Equipment: Refrigerator, Oven/Range, Dishwasher, Microwave, Washer, Dryer
  • Interior Amenities: Beamed Ceilings, Drywall
  • Bedrooms: 3
  • Bedroom 1: Dimensions: 16.10x11.6, On Level: Main Floor, Flooring: Carpet
  • Bedroom 2: Dimensions: 11.4x9, On Level: Main Floor, Flooring: Carpet
  • Bedroom 3: Dimensions: 11.4x9, On Level: Main Floor, Flooring: Carpet
  • Total Bathrooms: 2
  • Primary Bathroom: Shared
  • Number of Main Level Bathrooms: 2
  • Full Bathrooms: 2
  • Dining Room: Dimensions: 16x8, On Level: Main Floor, Flooring: Laminate
  • Kitchen: Dimensions: 14.10x9.60, On Level: Main Floor, Flooring: Vinyl
  • Living Room: Dimensions: 21.6x8, On Level: Main Floor, Flooring: Carpet
  • Range: R 11E
  • Total Finished Sf Apx: 1295

Exterior Features

  • Body Of Water: Silver Lake
  • Exterior Features: Sprinkler System, Deck, Patio, Sidewalk, Seasonal View
  • Exterior Finish: Vinyl
  • Foundation: Crawl Space
  • Number Of Acres: 0.45
  • Road: Public Maintained, Blacktop
  • Roof: Asphalt
  • Water Features: Priv Frontage (Across Rd), Inland Lake, Water View, Sandy Bottom, Gradual Slope to Water, Public Lake
  • Waterfront Frontage: 50

Garage/Parking

  • Driveway: Blacktop
  • Garage Capacity: 2
  • Primary Garage: Detached, Paved Driveway, Concrete Floors, Pole Construction

Utilities

  • Heating Cooling Types: Hot Water, Baseboard, Window Air Conditioner
  • Sewer: Private Septic
  • Tv Service Internet Avail: Cable Internet, Dish TV, WiFi
  • Water: Private Well

Association/Amenities

  • Development Name: Silver Pines Resort

Lot Info

  • Deeded Waterfront: Yes
  • Land Features: Corner Lot, Rolling
  • Lot Dimensions: 84 x 215
  • Mineral Rights: Unknown
  • Parcel Description: Subdivision
  • Zoning Use Restrictions: Residential

MLS Schools

  • School District: Traverse City Area Public Schools

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Oct 22, 2020
Sold by
Justin Mcphail
Bought by
Schumacher John W and Schumacher Barbara
Current Estimated Value
$430,646

Purchase Details

Closed on
Jun 30, 2017
Sold by
Robin Roznowski
Bought by
Mcphail Justin and Mcphail Joseph

Purchase Details

Closed on
Jun 25, 2009

Purchase Details

Closed on
Dec 29, 2006
Source: Public Records

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Schumacher John W $238,500 --
Mcphail Justin $172,500 --
-- $42,000 --
-- $55,000 --
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/26/2015 08/26/15 Sold $148,550 0.0% $115 / Sq Ft
06/23/2015 06/23/15 Pending -- -- --
06/09/2015 06/09/15 For Sale $148,500 -- $115 / Sq Ft
Source: Northern Great Lakes REALTORS® MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $3,834 $193,700 $0 $0
2024 $2,590 $163,400 $0 $0
2023 $2,478 $111,100 $0 $0
2022 $3,163 $118,700 $0 $0
2021 $3,001 $111,100 $0 $0
2020 $2,840 $104,600 $0 $0
2019 $2,956 $106,100 $0 $0
2018 $0 $107,400 $0 $0
2017 -- $101,600 $0 $0
2016 -- $99,000 $0 $0
2014 -- $86,600 $0 $0
2012 -- $89,100 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Weston Buchan

    Seller's Agent in 2015

    Weston Buchan

    Real Estate One

    (231) 590-4355

    8 in this area

    100 Total Sales

    Weston Buchan
    Section Image
  • Thomas Cronin

    Buyer's Agent in 2015

    Thomas Cronin

    Traverse Real Estate

    (231) 590-5091

    9 in this area

    59 Total Sales

    Thomas Cronin
    Section Image
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Map

Source: Northern Great Lakes REALTORS® MLS

MLS Number: 1801319

Northern Great Lakes REALTORS® MLS

APN: 05-295-055-00

Michigan Grand Traverse County Traverse City 49684

1516 Lake Dr, Traverse City, MI

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Northern Great Lakes REALTORS® MLS The information in this listing was gathered from third-party sources including the seller. Northern Great Lakes REALTORS® MLS and its subscribers disclaim any and all representations or warranties as to the accuracy of this information.

Copyright 2025 Northern Great Lakes REALTORS® MLS. All Rights Reserved.

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