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524 State Street Petoskey, MI $ 850,000
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524 State Street
$ 850,000
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524 State Street

Petoskey, MI, 49770
$ 850,000
Baths0.0

Monthly Estimate*

$ 5,234

524 State Street, Petoskey, MI 49770 - Image 1
524 State Street, Petoskey, MI 49770 - Image 2
524 State Street, Petoskey, MI 49770 - Image 3
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524 State Street, Petoskey, MI 49770 - Image 7
Studio

Multi-Family Home for sale in Petoskey, MI

for $850,000. This home was built in 1900 on a lot size of 0.16.

Classic, well-maintained 6-unit multifamily in a walkable Petoskey neighborhood near downtown, schools, and employment. Mix of renovated units with durable finishes; exterior paint, porch rebuild, foundation work, breezeway update, and other recent upgrades. In-place rent ~$8,150/mo with stable tenancy. City utilities. Clean common areas, covered front porch, and landscaped grounds. Strong rental history with opportunity to continue interior refresh program and capture market rent on renewals/turns.

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Multi-Family Active

Price

$ 850,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

$ 15,500

Style

5+ Units

Lot Size

0.16

Year Built

1900

Town/City

Petoskey

County/Region

Emmet

MLS | Web ID

26003300
Features
General
Sewer Public Sewer
Heating Forced Air
Cooling None
Utilities Natural Gas Available Electricity Available Natural Gas Connected Electricity Connected Cable Connected
Possession Close Of Escrow Subject To Tenant Rights
Roof Composition
Construction Materials Wood Siding Other
Year Built 1900
Tenant Pays None
Township Petoskey City
Property Subtype 5+ Units
Tax Year 2024
Gross Income 97800.0
County Emmet
Net Operating Income 55024.35
Operating Expense 44575.65
Insurance Expense 5312.0
New Construction N
Property Type Multi Family
Status Active
City Petoskey
High School District Petoskey
Number Of Units Total 6
Lot Size Units Acres
Lot Size Square Feet 7120.0
Listing Terms FHA Cash Conventional
Land Lease Y/N N
Tax Annual Amount 15500.0
Lease Renewal Y/N N
Additional Parcels Y/N N
Rent Control Y/N N
Standard Status Active
Tax Assessed Value 140700
Legal Description VILLAGE OF PETOSKEY CITY LOT 6 BLK 6. SECTION 5 T34N R5W.
Senior Community None
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Interior
Basement Michigan Basement
Basement (Y/N) Y
Air Conditioning Y/N N
Heating Y/N Y
Laundry Features None
Total Baths 0
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Exterior
Total Parking 0.0
Lot Size Area 0.16
Number of Buildings 1
Spa N
Lot Dimensions 50x145
Lot Size Acres 0.16
Road Surface Type Paved
Waterfront Y/N N
Crops Included Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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Internal Only
Street Number 1 524
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* Excluded Features
List By
Van Treese Management Llc

Broker

christopher@vantreesemanagement.com

Email

Affordability Calculator

$6,525
Per Month
80%
20%
0%
Monthly Principal & Interest
$5,234
Monthly Property Taxes
$1,292
Monthly 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
4799279 Elementary School
4799278 Middle School
Unknown High School High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
1/28/2026$850,000 Listed Price

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524 State Street, Petoskey, MI, 49770 is a Multi-Family Home for sale at $850,000 with a lot size of 0.16. 524 State 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

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