315 W Mitchell St, Petoskey, MI, 49770

Location

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315 W Mitchell St, Petoskey$595,000

Buyer Closing Credits

$7,066^*

1.25% Loan Amount

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1 (855) 200-2001

Property Highlights

Home TypeOther

Year Built1900

HeatingNatural Gas, Forced Air

BasementYes

MLS #473999

StatusActive

About 315 W Mitchell St

2 great multi-unit income producing properties located in the heart of Petoskey. 4 residential units. 3 residential units are 2 bedrooms and 1 bathroom and the other is 1 bedroom 1 bath. 3 commercial spaces fronting US 31 provide great public business exposure. All units have great bones and are located just 3 blocks from the hospital, 4 blocks from downtown shopping and restaurants, 3 blocks from the famed Little Traverse Wheelway bike path, 3 blocks from waterfront parks and 3 blocks from the Bear River recreational park trails. Zoned B-3 which allows for 2nd floor residential units to be short term vacation rentals adding income potential.

Property Details

Property Features

Property Information:

Year Built: 1900
Living Area: 5,194 SqFt

Listing Office:

Office Name: Real Estate One
Listing Agent: Amanda Conklin

Interior Features

Interior Information:

Appliances: Range, Refrigerator
Basement: Yes
Interior: Cable

Utilities

Utilities Information:

Heating: Natural Gas, Forced Air

Other

Directions Information:

Directions: South side of W Mitchell Road. Parking on and off Madison St

Price Information

Listing Price Info

Price Summary:

List Price: $595,000
Price Per SqFt: $115/SqFt

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Housing Market Comparison

See how this home compares to others in Petoskey, MI.

Petoskey, MI

City

Med. Sold Price

$450K

Med. Price/SqFt

$250

# of Sold Homes

315 W Mitchell St vs Petoskey

186 DAYS ON ROCKET

$595,000

+$145K More

$115/SqFt

-$135 Less

KEY TAKEAWAY

This property is $145K more than the Median Sold Price and $135/SqFt less than other homes in Petoskey, MI.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

MLS Number: #473999

Listing Office:

Office Name: Real Estate One
Listing Agent: Amanda Conklin

The data relating to real estate on this web site comes in part from the Internet Data Exchange Program of the Northern Michigan MLS (NM-MLS). The listings displayed come from various NM-MLS. member offices who have chosen to participate in NM-MLSX IDX, the detailed information 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 about said listings includes the listing office information. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the site hosting broker(s), nor the listing broker or NM-MLS, or this broker shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless. © 2024 NM-MLS. All rights reserved
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 12/4/2024, 1:20:48 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Tax History

YEAR	PROP. TAX	ASSESSMENT
2021	-	$72,200
2020	-	$56,500
2019	-	$55,400
2018	-	$56,300
2017	-	$47,700

History based on county public records data.

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Rate/APR

7.5% / 6.68%

Total Monthly Payment

$1,850

NMLS#3030

Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

/10

Lincoln School
616 Connable Ave
Distance between this listing and this school0.31 miles
Public Magnet Grades KG-5

/10

Central Elementary School
410 State St
Distance between this listing and this school0.51 miles
Public Magnet Grades KG-5

/10

Sheridan School
1415 Howard St
Distance between this listing and this school0.85 miles
Public Magnet Grades KG-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

How much money do the neighbors make?

38%

<35k

34%

35k-100k

13%

100k-200k

15%

200k+

What level of education do the neighbors have?

Post Secondary: 58%
High School: 31%
Masters: 12%

What types of families live nearby?

49%

Single, No Kids

Single, with Kids

29%

Married, No Kids

15%

Married, with Kids

Are the neighbors home owners or renters?

Home Owners: 52%
Renters: 48%

How old are people in this area?

11%

<11 yrs old

12-17 yrs old

21%

18-34 yrs old

38%

35-64 yrs old

24%

65+ yrs old

What do the neighbors do for fun?

Figure Skating
PGA/LPGA
Pro Wrestling

Where do the neighbors shop?

Kmart
Stein Mart
Family Dollar

Where do the neighbors go to eat?

Bob Evans
Dominos Pizza
Arbys

What do the neighbors drive?

Buick
Lincoln
Ford

What do the neighbors listen to?

Oldies
News/Talk/Information
New Country

The neighbors living near this home have an average income of $51,471. Residents of Petoskey, MI typically earn less than $35k each year. The majority of families are single, no kids. Residents of this area typically have post secondary degree education.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 315 W Mitchell St

What is the listing price of this property?

The listing price of 315 W Mitchell St property is $595,000.

What type of property is this?

The property 315 W Mitchell St is a house located in Petoskey, Michigan, 49770.

Is this property for sale now?

Active Listing: 315 W Mitchell St is For Sale (Active/New) which means the seller is accepting offers.

What is the square footage of this property?

The property 315 W Mitchell St is 5,194 SqFt (source: MLS/tax record).

Which year was this property built?

The year of construction for 315 W Mitchell St is 1900.

Rocket Homes›Michigan›Emmet County›Petoskey›49770›315 W Mitchell St

This home is located at 315 W Mitchell St in Petoskey, MI and zip code 49770. This 5,194 square foot home was built in 1900. It has been listed on Rocket Homes since June 01, 2024 and is currently priced at $595,000.

While more than 5 listings in Petoskey, MI in November 2024 were sold above asking price, there were more than 0 listings sold at asking price, and more than 12 were sold below. The number of homes for sale in Petoskey, MI decreased by 9.2% between October 2024 and November 2024.

Location

Property Highlights

Property Details

Property Features

Interior Features

Utilities

Other

Price Information

Listing Price Info

Housing Market Comparison

MLS Details

Property Sales & Tax

Tax History

Payment Calculator

Schools

Schools Nearby

Neighborhood

What Are The Neighbors Like?

Frequently Asked Questions About 315 W Mitchell St

More Resources

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Housing Market Reports in Emmet County