624 Michigan Street Petoskey, MI ^$ 850,000

624 Michigan Street

^$ 850,000

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Recently Listed

624 Michigan Street

Petoskey, MI, 49770

^$ 850,000

Studio Baths0.0

Monthly Estimate*

^$ 5,234

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Studio

Multi-Family Home for sale in Petoskey, MI

for $850,000. This home was built in 1900 on a lot size of 0.17.

Victorian-style 5-unit in the heart of Petoskey with excellent walkability. Extensive recent work: new roof/fascia, two-coat exterior paint, remodeled breezeways, upgraded electrical/plumbing in select units, full unit renovations with updated kitchens/baths, and a new laundry room build-out. In-place rent ~$7,500/mo with proven demand. City utilities. Appealing curb presence with bay windows and tasteful landscaping. Solid in-place operations with value in continued unit optimization and amenity enhancements.

Multi-Family Active

Price

^$ 850,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

^$ 10,400

Style

5+ Units

Lot Size

0.17

Year Built

1900

Town/City

Petoskey

County/Region

Emmet

MLS | Web ID

26003263

Features

General

Sewer Public Sewer

Heating Forced Air Wall Furnace

Cooling None

Utilities Natural Gas Available Electricity Available Natural Gas Connected Electricity Connected

Possession Close Of Escrow Subject To Tenant Rights

Roof Composition

Construction Materials Wood Siding

Year Built 1900

Tenant Pays None

Township Petoskey City

Property Subtype 5+ Units

Tax Year 2024

Gross Income 90000.0

County Emmet

Net Operating Income 47819.93

Operating Expense 39932.48

Insurance Expense 5312.0

New Construction N

Property Type Multi Family

Status Active

City Petoskey

High School District Petoskey

Number Of Units Total 5

Lot Size Units Acres

Lot Size Square Feet 7439.0

Listing Terms FHA Cash Conventional

Land Lease Y/N N

Tax Annual Amount 10400.0

Lease Renewal Y/N N

Additional Parcels Y/N N

Rent Control Y/N N

Standard Status Active

Occupancy Type Tenant

Tax Assessed Value 142905

Legal Description CHARLES CARMICHAEL'S ADD. LOT 4 BLK 3 ALSO .5 FT OF W SIDE OF W SIDE OF N 87' OF LOT 3 BLK 3. SECTION 5 T34N R5W.

Senior Community None

Interior

Basement Michigan Basement

Basement (Y/N) Y

Air Conditioning Y/N N

Heating Y/N Y

Laundry Features Common Area Laundry Closet Lower Level

Total Baths 0

Exterior

Lot Features Sidewalk

Total Parking 0.0

Lot Size Area 0.17

Number of Buildings 1

Spa N

Lot Dimensions 50x145

Lot Size Acres 0.17

Road Surface Type Paved

Waterfront Y/N N

Crops Included Y/N N

Horse Y/N N

Irrigation Water Rights Y/N N

Internal Only

Street Number 1 624

* Excluded Features

List By

Van Treese Management Llc

Broker

christopher@vantreesemanagement.com

Affordability Calculator

$6,100

Per Month

Monthly Principal & Interest: $5,234
Monthly Property Taxes: $867
Monthly Home Insurance: --

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Yearly Home Insurance

Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Multi-family listings in Petoskey, MI

Average List Price ^$858,333

Percent of Sale Price 1%

About Petoskey, MI

5,638 Population

0% Since 2002

^$40,542 Median Income

38.81 Median Age

19% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

4799279 Elementary School

4799278 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
1/28/2026	$850,000		Listed Price

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624 Michigan Street, Petoskey, MI, 49770 is a Multi-Family Home for sale at $850,000 with a lot size of 0.17. 624 Michigan Street is a studio with 0.0 baths and was built in 1900. The property's zip code is 49770 which is in Petoskey, MI

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Listing data provided courtesy of the Internet Data Exchange Program of MichRIC, LLC

The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of MichRIC, LLC. Real Estate listings held by brokerage firms (licensees) other than Weichert Realtors include the name of the listing brokers.

The information being provided is for consumers' 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 Deemed Reliable But Not Guaranteed

Data is updated as of 1/30/2026.

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624 Michigan Street

Multi-Family Home for sale in Petoskey, MI

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