431 Madison St Petoskey, MI 49770
Estimated payment $2,346/month
Total Views
52,731
5
Beds
2
Baths
2,461
Sq Ft
$162
Price per Sq Ft
Highlights
- Deck
- 2 Car Detached Garage
- Forced Air Heating System
- First Floor Utility Room
- Living Room
- 4-minute walk to Bear River Recreation Area
About This Home
Located in the heart of Petoskey, this versatile in-town home offers an exceptional location directly across the street from McLaren Northern Michigan Hospital and just a short distance from downtown Petoskey’s shopping, restaurants, and the scenic Bear River Walkway. Currently utilized as a two-unit rental, the property provides numerous possibilities—continue its income-producing use, or easily convert it back to a single-family residence with the added bonus of separate living quarters above the garage. The home has seen many recent improvements, including a new roof on the main house approximately five years ago, brand-new windows throughout the main house, and a newly rebuilt front porch that adds to its curb appeal. Above the garage, a newly renovated one-bedroom, one-bath apartment offers excellent flexibility, whether used as a rental for additional income or as comfortable guest accommodations. With its prime location, recent updates, and flexible layout, this property presents a rare opportunity to own a home that can adapt to a variety of living or investment needs in one of Petoskey’s most convenient neighborhoods.
Home Details
Home Type
- Single Family
Year Built
- Built in 1950
Lot Details
- Lot Dimensions are 50x150
- Property is zoned RM-2
Parking
- 2 Car Detached Garage
Home Design
- Wood Frame Construction
- Asphalt Shingled Roof
Interior Spaces
- 2,461 Sq Ft Home
- Vinyl Clad Windows
- Insulated Windows
- Living Room
- Dining Room
- First Floor Utility Room
- Dryer
- Michigan Basement
- Range
Bedrooms and Bathrooms
- 5 Bedrooms
- Primary Bedroom Upstairs
- 2 Full Bathrooms
Outdoor Features
- Deck
Utilities
- Forced Air Heating System
- Heating System Uses Natural Gas
- Electric Water Heater
- Cable TV Available
Listing and Financial Details
- Assessor Parcel Number 52-19-06-127-063
Map
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Home Values in the Area
Average Home Value in this Area
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 | $2,307 | $165,200 | $165,200 | $0 |
| 2024 | $22 | $143,100 | $143,100 | $0 |
| 2023 | $2,100 | $107,200 | $107,200 | $0 |
| 2022 | $2,100 | $84,600 | $84,600 | $0 |
| 2021 | $2,041 | $75,100 | $75,100 | $0 |
| 2020 | $2,046 | $66,100 | $66,100 | $0 |
| 2019 | -- | $64,900 | $64,900 | $0 |
| 2018 | -- | $45,100 | $45,100 | $0 |
| 2017 | -- | $35,600 | $35,600 | $0 |
| 2016 | -- | $37,000 | $37,000 | $0 |
| 2015 | -- | $37,500 | $0 | $0 |
| 2014 | -- | $48,600 | $0 | $0 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 01/16/2026 01/16/26 | For Sale | $399,900 | -- | $162 / Sq Ft |
Source: Northern Michigan MLS
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Quit Claim Deed | -- | -- |
Source: Public Records
About the Listing Agent
C.T. Shuman is a Petoskey native. He can't imagine a more perfect childhood than the one he had here in Petoskey. He grew up loving all that the area has to offer - endless summer days at the beach or out on the lakes, summer nights around a bonfire and winter days skiing fresh powder. After graduating from Petoskey High School, he went on to earn an Associate Degree in Real Estate and a Bachelor Degree in Marketing Sales from Ferris State University.
His current hobbies somewhat mimic
C.T.'s Other Listings
Source: Northern Michigan MLS
MLS Number: 478568
APN: 52-19-06-127-063
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