NOT LISTED FOR SALE

621 Emmet St Petoskey, MI 49770

Estimated Value: $392,929 - $858,000

4 Beds
3 Baths
3,153 Sq Ft
$166/Sq Ft Est. Value

Last Sold May 02, 2024

Last sale price $350,000 $111 Per Sq Ft

Est. 50% increase in value since last sale

Current estimated payment $2,960/month

182 Days on Market

Highlights

  • Wood Flooring
  • Wood Burning Fireplace
  • 3-minute walk to Bear River Park
  • Wood Frame Window

About This Home

As of May 2024

Fantastic opportunity to purchase a 3-unit income producing property just a few short blocks to downtown Petoskey! The property is within walking distance to the Bear River Walk, Waterfront Park Little Traverse Wheelway and downtown restaurants and shopping. The property is currently set up with 2 rental units on the main floor and one upstairs. There are many possibilities with this property, continue renting as is, live in one unit and rent the other 2 out to offset costs or the property could be turned back into a single-family home. Property is zoned RM-2 which allows for long term rentals, but no short-term rentals allowed.

Last Agent to Sell the Property

C.T. Shuman

Real Estate One Listed on: 11/02/2023

Real Estate One

Last Buyer's Agent

C.T. Shuman

Real Estate One Listed on: 11/02/2023

Real Estate One

Property Details

Home Type

  • Multi-Family

Lot Details

  • 10,542

Parking

  • 1 Car Garage

Home Design

  • Triplex
  • Wood Frame Construction
  • Asphalt Shingled Roof
  • Metal Roof

Interior Spaces

  • 3,153 Sq Ft Home
  • Wood Burning Fireplace
  • Wood Frame Window
  • Wood Flooring
  • Partial Basement

Kitchen

  • Range
  • Dishwasher

Location

  • Ground Level

Utilities

  • Hot Water Baseboard Heater
  • Heating System Uses Natural Gas
  • Cable TV Available

Listing and Financial Details

  • Assessor Parcel Number 52-19-06-278-027

Community Details

Overview

  • 3 Units

Building Details

  • 1 Separate Electric Meter
  • 1 Separate Gas Meter

Property Details

Home Type

Multi-Family

Lot Details

0

Listing Details

  • Class: MULTI-FAMILY
  • Type: Multifamily
  • Type 2: Triplex
  • Lvt Date: 11/02/2023
  • Section: 6
  • Second Address Number: 621
  • Directions: Located between State and Grove St just west of the Zipp building.
  • OFFICELIST_STATE: MI
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Features: Cable, Dishwasher, Range, Refrigerator, Wood Fireplace, Wood Floors
  • Basement: Partial
  • Total Sq Ft: 3153
  • Above Grade Finished Sq Ft: 3153
  • Windows: Wood Sash

Exterior Features

  • Construction: Wood Frame
  • Roof: Asphalt Shingles, Metal
  • Waterfront Water Access: Neither

Garage/Parking

  • Number Garage Stalls: 1

Utilities

  • Heat Type: Natural Gas, Hot Water Baseboard
  • Sewer: City
  • Water: City
  • Number Electric Meters: 1
  • Number Gas Meters: 1

Schools

  • School District: Petoskey

Lot Info

  • Zoning: RM-2

Tax Info

  • Assessor Parcel Number: 52-19-06-278-027

Multi Family

  • Number Of Units: 3

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Nov 2, 2023
Closed on
May 2, 2024
Sold by
Barb Lane 401K Llc
Bought by
Adams Timothy J and Adams Pamela L
Seller's Agent
C.T. Shuman
Real Estate One
Buyer's Agent
C.T. Shuman
Real Estate One
List Price
$395,000
Sold Price
$350,000
Premium/Discount to List
-$45,000
-11.39%
Views
347
Current Estimated Value
$523,482

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$173,482
Avg. Annual Appreciation
28.61%
Original Mortgage
$262,500
Outstanding Balance
$258,533
Interest Rate
6.82%
Estimated Equity
$264,949

Purchase Details

Closed on
Nov 7, 2014
Sold by
Barbara Jean Barbara Jean and Barbara Jean Lane Harrington T
Bought by
Barb Lane 401K Llc

Purchase Details

Closed on
Apr 13, 1999
Sold by
Harrington Barbara Jean and Harrington Kenn
Bought by
Harrington Kenneth J and Harrington Barbara

Purchase Details

Closed on
Mar 1, 1992
Sold by
Pointe N
Bought by
Huhn

Purchase Details

Closed on
Feb 1, 1986
Sold by
Russell Wd L442 P728
Bought by
Janis Urlc In File
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

Date Buyer Sale Price Title Company
Adams Timothy J $350,000 Talon Title Agency
Barb Lane 401K Llc -- --
Harrington Kenneth J -- --
Huhn -- --
Janis Urlc In File $37,500 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Adams Timothy J $262,500
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/02/2024 05/02/24 Sold $350,000 -11.4% $111 / Sq Ft
11/02/2023 11/02/23 For Sale $395,000 -- $125 / Sq Ft
Source: Northern Michigan 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 $2,615 $241,800 $241,800 $0
2024 $2,615 $75,000 $75,000 $0
2023 $2,381 $49,600 $49,600 $0
2022 $2,381 $49,600 $49,600 $0
2021 $2,313 $49,600 $49,600 $0
2020 $2,319 $49,600 $49,600 $0
2019 -- $49,600 $49,600 $0
2018 -- $49,600 $49,600 $0
2017 -- $49,600 $49,600 $0
2016 -- $40,000 $40,000 $0
2015 -- $45,000 $0 $0
2014 -- $109,800 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • C.T. Shuman

    Seller's Agent in 2024

    C.T. Shuman

    Real Estate One

    (231) 838-4200

    30 in this area

    129 Total Sales

    C.T. Shuman
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Map

Source: Northern Michigan MLS

MLS Number: 472594

Northern Michigan MLS

APN: 52-19-06-278-027

Michigan Emmet County Petoskey 49770

621 Emmet St, Petoskey, MI

Not Listed for Sale

MultiFamily

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