5062 Cook Ave Petoskey, MI 49770
Estimated payment $2,301/month
About This Home
Excellent Investment Opportunity in Northern Michigan! This well-maintained triplex offers strong rental potential in the heart of Conway, perfectly situated just across from scenic Crooked Lake. Enjoy a prime location—only 6 miles from Harbor Springs and 6 miles from Petoskey. The property features three distinct units: Unit 1 - a charming 2-bedroom, 1-bath with hardwood flooring and a private outdoor patio. Unit 2: A 2-bedroom, 1.5-bath unit that includes a small deck. Unit 3: An efficient studio apartment with a private outdoor patio area. Additional highlights include ample off-street parking, a generous yard, peaks of Crooked lake, and a convenient storage shed. Whether you're looking to expand your rental portfolio or live in one unit while renting the others, this property combines location, flexibility, and income potential.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,099
Home Design
- Triplex
- Asphalt Shingled Roof
Interior Spaces
- 2,482 Sq Ft Home
- Crawl Space
Utilities
- Heating System Uses Natural Gas
Listing and Financial Details
- Assessor Parcel Number 08-16-24-176-015
Community Details
Overview
- 3 Units
Building Details
- 2 Separate Electric Meters
- 2 Separate Gas Meters
- Gross Income $29,880
Map
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 | $2,099 | $216,200 | $216,200 | $0 |
| 2024 | $2,099 | $196,200 | $196,200 | $0 |
| 2023 | $1,922 | $135,300 | $135,300 | $0 |
| 2022 | $1,922 | $105,900 | $105,900 | $0 |
| 2021 | $1,859 | $89,200 | $89,200 | $0 |
| 2020 | $1,826 | $113,000 | $113,000 | $0 |
| 2019 | $1,784 | $54,800 | $54,800 | $0 |
| 2018 | $1,760 | $49,100 | $49,100 | $0 |
| 2017 | -- | $50,000 | $50,000 | $0 |
| 2016 | -- | $51,900 | $51,900 | $0 |
| 2015 | -- | $51,200 | $0 | $0 |
| 2014 | -- | $40,600 | $0 | $0 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/10/2025 09/10/25 | For Sale | $399,000 | -- | $161 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $114,100 | -- | |
| Warranty Deed | $86,000 | -- | |
| Warranty Deed | $85,000 | -- | |
| Warranty Deed | $77,000 | -- | |
| Warranty Deed | -- | -- | |
| Warranty Deed | $63,000 | -- | |
| Deed | $70,500 | -- | |
| Deed | $45,000 | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $97,850 | Stand Alone Refi Refinance Of Original Loan |
Source: Northern Michigan MLS
MLS Number: 477705
APN: 08-16-24-176-015
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