425 Madison St, Petoskey, MI, 49770

Location

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425 Madison St, Petoskey$649,900

Buyer Closing Credits

$7,718^*

1.25% Loan Amount

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1 (855) 200-2001

Property Highlights

Home TypeOther

Garage3 spaces

HeatingNatural Gas, Forced Air

BasementYes

MLS #474697

StatusActive

About 425 Madison St

Fantastic opportunity to own a mixed-use income producing property in the city limits of Petoskey. The property consists of a commercial store front, and 4 residential rental units. The commercial space is currently occupied by the owner and is 2350 square feet. The space would be ideal for any contractor type business. The residential units consist of a duplex with a 3-bedroom apartment and a studio apartment as well as a separate 28X40 garage. The next unit is a newly remodeled 1-bedroom unit above a 2-car garage. The last unit is a free standing 4-bedroom home with new roof. All units are fully occupied with long term tenants that would like to continue renting. See listing agent for further details.

Property Details

Property Features

Property Information:

Living Area: 6,728 SqFt

Listing Office:

Office Name: Real Estate One
Listing Agent: Clinton Shuman

Interior Features

Interior Information:

Appliances: Dryer, Range, Refrigerator
Basement: Yes
Interior: Cable

Exterior Features

Parking Information:

Garage Space: 3 spaces

Utilities

Utilities Information:

Heating: Natural Gas, Forced Air

Other

Directions Information:

Directions: W Mitchell St to Madison property is second drive on the right. Property can also be accessed off alley from Ingalls Ave

Price Information

Listing Price Info

Price Summary:

List Price: $649,900
Price Per SqFt: $97/SqFt

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Housing Market Comparison

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

Petoskey, MI

City

Med. Sold Price

$447.2K

Med. Price/SqFt

$248

Avg. Days On Market

# of Sold Homes

425 Madison St vs Petoskey

74 DAYS ON ROCKET

+37 Days

$649,900

+$202.6K More

$97/SqFt

-$152 Less

KEY TAKEAWAY

This property is $202.6K more than the Median Sold Price and $152/SqFt less than other homes in Petoskey, MI.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

MLS Number: #474697

Listing Office:

Office Name: Real Estate One
Listing Agent: Clinton Shuman

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: 11/5/2024, 2:20:47 AM 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	-	$111,600
2020	-	$87,300
2019	-	$77,100
2018	-	$80,300
2017	-	$72,100

History based on county public records data.

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Rate/APR

7.5% / 6.68%

Total Monthly Payment

$2,015

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 school0.21 miles
Public Magnet Grades KG-5

/10

Central Elementary School
410 State St
Distance between this listing and this school0.59 miles
Public Magnet Grades PK-5

/10

Sheridan School
1415 Howard St
Distance between this listing and this school0.94 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. The most common annual income of people living in Petoskey, MI is less than $35k. The most common type of family is single, no kids. The most common level of education of people living in this area is post secondary degree.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 425 Madison St

What is the listing price of this property?

The listing price of 425 Madison St property is $649,900.

What type of property is this?

The property 425 Madison St is a house located in Petoskey, Michigan, 49770.

Is this property for sale now?

Active Listing: 425 Madison St is For Sale (Active/New) which means the seller is accepting offers.

What is the square footage of this property?

The property 425 Madison St is 6,728 SqFt (source: MLS/tax record).

Rocket Homes›Michigan›Emmet County›Petoskey›49770›425 Madison St

This home is located at 425 Madison St in Petoskey, MI and zip code 49770. It has been listed on Rocket Homes since August 22, 2024 and is currently priced at $649,900.

Over 5 listings were sold over their listed price in October 2024 in Petoskey, MI. In the same period over 15 listings were sold below the listed price and 4 listings were sold for the listed price. The inventory of homes for sale in Petoskey, MI between September 2024 and October 2024 increased by 5%. While the average time on the market in October 2024 was 37 days, the median list price was $447,250.

Location

Property Highlights

Property Details

Property Features

Interior Features

Exterior 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 425 Madison St

More Resources

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Housing Market Reports in Emmet County