NOT LISTED FOR SALE

516 E Lake St Petoskey, MI 49770

Estimated Value: $405,616 - $618,000

5 Beds
1.5 Baths
1,600 Sq Ft
$324/Sq Ft Est. Value

Sale Details

Date Sold: December 23, 2019

Last sale price $161,000 $101 Per Sq Ft

Est. 222% increase in value since last sale

Current estimated payment $3,108 / mo

22 Days on Market

Highlights

  • Main Floor Primary Bedroom
  • Wood Frame Window
  • Forced Air Heating System
  • Lower Floor Utility Room
  • Living Room
  • 4-minute walk to Pennsylvania Park

About This Home

As of December 2019

Historic house in downtown Petoskey. Built in 1890, this house has tremendous potential. Numerous trees have been removed from the property. In addition, the house has been emptied. Newer furnace, great location, in need of many upgrades. Open House on Sunday, October 13 from 3:00-5:00pm.

Last Agent to Sell the Property

Matthew Tamm

Kidd & Leavy Real Estate Co. LLC Listed on: 09/23/2019

Last Buyer's Agent

Atty Belanger

@properties Christie's International Real Estate - Petoskey

@properties Christie's International Real Estate - Petoskey

Home Details

Home Type

  • Single Family

Year Built

  • Built in 1890

Lot Details

  • 7,362

Home Design

  • Wood Frame Construction
  • Asphalt Shingled Roof

Interior Spaces

  • 1,600 Sq Ft Home
  • 2-Story Property
  • Wood Frame Window
  • Family Room
  • Living Room
  • Dining Room
  • Lower Floor Utility Room
  • Michigan Basement

Bedrooms and Bathrooms

  • 5 Bedrooms
  • Primary Bedroom on Main

Utilities

  • Forced Air Heating System
  • Heating System Uses Natural Gas

Listing and Financial Details

  • Assessor Parcel Number 52-19-05-102-031

Home Details

Home Type

Single Family

Year Built

Built in 1890

Lot Details

7,362 Sq Ft Lot

Listing Details

  • Class: RESIDENTIAL
  • Type: Residential
  • Estimated Year Built: 1890
  • Lvt Date: 10/10/2019
  • Section: 5
  • Second Address Number: 516
  • Directions: Downtown Petoskey near the intersection of Lake Street and Division.
  • OFFICELIST_STATE: MI
  • Street Designation: Street
  • Special Features: None
  • Property Sub Type: Detached
  • Year Built: 1890

Interior Features

  • Features: Paved Road
  • Total Finished Sq Ft: 1600
  • Master Bedroom: On Level: Main
  • Bedroom 2: On Level: Main
  • Bedroom 3: On Level: Upper
  • Bedroom 4: On Level: Upper
  • Basement: Michigan
  • Dining Room: On Level: Main
  • Kitchen: On Level: Main
  • Family Room: On Level: Main
  • Living Room: On Level: Main
  • Above Grade Finished Sq Ft: 1600
  • Bathroom 1: On Level: Main
  • Bathroom 2: On Level: Upper
  • Number Of Bedrooms: 5
  • Full Bathrooms: 1
  • Half Bathrooms: 1
  • Rooms 1: On Level: N/A
  • Rooms 2: On Level: N/A
  • Windows: Wood Sash

Exterior Features

  • Construction: Wood Frame/Site Built, Two Story +
  • Roof: Asphalt Shingle
  • Waterfront Water Access: Neither

Utilities

  • Heat Type: Natural Gas, Forced Air
  • Sewer: City
  • Water: City

Schools

  • School District: Petoskey

Lot Info

  • Zoning: Residential

Tax Info

  • Assessor Parcel Number: 52-19-05-102-031

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 23, 2019
Closed on
Dec 23, 2019
Sold by
Bought by
Seller's Agent
Matthew Tamm
Kidd & Leavy Real Estate Co. LLC
Buyer's Agent
Atty Belanger
@properties Christie's International Real Estate - Petoskey
List Price
$175,000
Sold Price
$161,000
Premium/Discount to List
-$14,000
-8%
Current Estimated Value
$518,904

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$357,904
Avg. Annual Appreciation
19.76%
Original Mortgage
$151,000
Outstanding Balance
$133,128
Interest Rate
3.6%
Mortgage Type
New Conventional
Estimated Equity
$385,776
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
-- --
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $151,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
12/23/2019 12/23/19 Sold $161,000 -8.0% $101 / Sq Ft
09/23/2019 09/23/19 For Sale $175,000 -- $109 / Sq Ft
Source: Northern Michigan MLS

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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 $3,657 $165,200 $165,200 $0
2024 $35 $150,300 $150,300 $0
2023 $3,354 $136,100 $136,100 $0
2022 $3,354 $115,000 $115,000 $0
2021 $3,264 $108,700 $108,700 $0
2020 $3,300 $91,800 $91,800 $0
2019 -- $87,500 $87,500 $0
2018 -- $88,200 $88,200 $0
2017 -- $86,400 $86,400 $0
2016 -- $87,300 $87,300 $0
2015 -- $79,900 $0 $0
2014 -- $79,900 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Matthew Tamm

    Seller's Agent in 2019

    Matthew Tamm

    Kidd & Leavy Real Estate Co. LLC

    (231) 838-4188

    65 Total Sales

    Matthew Tamm
    Section Image
  • Atty Belanger

    Buyer's Agent in 2019

    Atty Belanger

    @properties Christie's International Real Estate - Petoskey

    (231) 838-8184

    26 Total Sales

    Atty Belanger
    Section Image
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Map

Source: Northern Michigan MLS

MLS Number: 460443

Northern Michigan MLS

APN: 52-19-05-102-031

Michigan Emmet County Petoskey 49770

516 E Lake St, Petoskey, MI

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