Matt Rader
Pat O'Brien & Associates - Boyne City
(231) 244-8908
45 Total Sales
2 in Petoskey
$293K - $945K Price Range
524 State St Petoskey, MI 49770
Petoskey AreaEstimated Value: $828,126
Studio
--
Bath
2,533
Sq Ft
$327/Sq Ft
Est. Value
About This Home
As of January 2022A six plex this close to downtown Petoskey is extremely rare and this one is an easy "no hills" walk to downtown. Currently 100% rented and all leases are month to month. Property has been a great rental owned by the same family for many years and is ready for a new investor. Property requires TLC but currently has a substantial gross income and low carry cost. Financials available upon request. Great location 2 blocks from the remarkable restaurants and shops of Petoskey's Gaslight District.
Last Buyer's Agent
Abby Badgley
Gaslight Group Properties
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Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $3,385
Year Built
- Built in 1900
Lot Details
- 7,100
Home Design
- Wood Frame Construction
- Asphalt Shingled Roof
Interior Spaces
- 2,533 Sq Ft Home
- Michigan Basement
- Range
Outdoor Features
- Deck
Utilities
- Forced Air Heating System
- Heating System Uses Natural Gas
- Cable TV Available
Listing and Financial Details
- Assessor Parcel Number 52-19-05-100-090
Community Details
Overview
- 6 Units
Building Details
- Electric Expense $3,758
- Fuel Expense $2,340
- Insurance Expense $1,743
- Gross Income $38
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
Closed on
Apr 23, 2024
Sold by
Bought by
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$625,000
Outstanding Balance
$610,310
Interest Rate
6.87%
Mortgage Type
New Conventional
Estimated Equity
$217,816
Purchase Details
Closed on
Apr 19, 2024
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$625,000
Outstanding Balance
$610,310
Interest Rate
6.87%
Mortgage Type
New Conventional
Estimated Equity
$217,816
Purchase Details
Listed on
Jun 25, 2021
Closed on
Dec 31, 2021
Sold by
Bought by
Seller's Agent
Michael MacCarthy
Gaslight Group Properties
Buyer's Agent
Abby Badgley
Gaslight Group Properties
List Price
$329,000
Sold Price
$250,000
Premium/Discount to List
-$79,000
-24.01%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
29.89%
Original Mortgage
$400,000
Interest Rate
3.05%
Mortgage Type
Cash
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Petoskey, MI
-
Matt Rader
-
Shelly Novotny
Shelly Novotny
Real Estate One - Charlevoix
(231) 244-6564
64 Total Sales
2 in Petoskey
$401K - $520K Price Range
-
Christina Roberts
Christina Roberts
Keller Williams - Northern Michigan
(231) 244-2315
132 Total Sales
5 in Petoskey
$400K - $505K Price Range
-
Kristin Rashid
Kristin Rashid
Real Estate One-Milford
(810) 644-1220
77 Total Sales
2 in Petoskey
$412,000 Price Range
-
Kristin Clark
Kristin Clark
Gaslight Group Properties
(517) 246-0934
30 Total Sales
5 in Petoskey
$430K - $1.2M Price Range
-
Sarah Jones
Sarah Jones
Key Realty One
(760) 253-8063
84 Total Sales
1 in Petoskey
$15,000 Price
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 |
|---|---|---|---|
| -- | -- | ||
| -- | -- | ||
| $500,000 | -- |
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 | $625,000 | ||
| Open | $1,875,000 | ||
| Previous Owner | $400,000 |
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 |
|---|---|---|---|---|
| 01/03/2022 01/03/22 | Sold | $250,000 | -19.1% | $99 / Sq Ft |
| 09/20/2021 09/20/21 | Price Changed | $309,000 | -6.1% | $122 / Sq Ft |
| 06/25/2021 06/25/21 | For Sale | $329,000 | -- | $130 / 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 |
|---|---|---|---|---|
| 2026 | $7,411 | $143,800 | $143,800 | $0 |
| 2025 | $7,411 | $167,100 | $167,100 | $0 |
| 2024 | $71 | $146,300 | $146,300 | $0 |
| 2023 | $3,475 | $134,000 | $134,000 | $0 |
| 2022 | $3,475 | $126,000 | $126,000 | $0 |
| 2021 | $3,376 | $112,900 | $112,900 | $0 |
| 2020 | $3,385 | $112,700 | $112,700 | $0 |
| 2019 | -- | $110,200 | $110,200 | $0 |
| 2018 | -- | $96,500 | $96,500 | $0 |
| 2017 | -- | $92,500 | $92,500 | $0 |
| 2016 | -- | $92,000 | $92,000 | $0 |
| 2015 | -- | $79,500 | $0 | $0 |
| 2014 | -- | $79,500 | $0 | $0 |
Source: Public Records
Agents Affiliated with this Home
-
Michael MacCarthy
Seller's Agent in 2022
Michael MacCarthy
Gaslight Group Properties
(231) 838-7700
174 Total Sales
-
Cam Braddock
Seller Co-Listing Agent in 2022
Cam Braddock
Gaslight Group Properties
(231) 330-9819
53 Total Sales
-
A
Buyer's Agent in 2022
Abby Badgley
Gaslight Group Properties
Map
Source: Northern Michigan MLS
MLS Number: 465569
APN: 52-19-05-100-090
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.
IDX information is provided exclusively for 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 is deemed reliable but not guaranteed.
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