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547 Terrace Dr, Traverse City, MI, 49686

$308,000

Home List Price

$3,658*

Closing Credit

3 Bedrooms
1 Full Bath
960 SqFt
$321/SqFt
House

Location

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547 Terrace Dr, Traverse City$308,000

Buyer Closing Credits

$3,658*

1.25% Loan Amount

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Property Highlights

Home TypeSingle Family Residence
ParkingConcrete, Alley Access, Attached, Door Opener, Alley Entrance, Paved Driveway, Other, Concrete Floors
Attached Garage1 space
Year Built1955
HeatingForced Air
CoolingCentral Air
WaterfrontNone
FireplaceNone
MLS #1929731
Lot Size0.35 Acres
StatusActive
(New)

About 547 Terrace Dr

Unlock the potential of this cozy 960 sq ft ranch at 547 Terrace Drive! Situated in a quiet neighborhood near downtown Traverse City, East Bay, the TART Trail, and the Civic Center, this home offers endless opportunities for renovation and personalization. The functional layout includes three bedrooms, one bathroom, and a cozy kitchen with a charming breakfast nook. Original hardwood floors lie beneath the carpet, waiting to be uncovered and restored. A spacious screened porch provides the perfect setting for relaxation or entertaining. Set on a generous 0.356-acre lot with alley access and a storage shed, this property combines convenience and potential in a prime location. Recent updates include a new roof (2020 & 2024), majority of the windows (2024), bathtub and stall replacement (2024) and a covered porch (2020).

Property Details

Property Features

Property Information:

  • Architectural Style: Ranch, 1 Story
  • Year Built: 1955
  • Living Area: 960 SqFt

Listing Office:

  • Office Name: REMAX Bayshore - Union St TC
  • Office Phone: (231) 941-4500
  • Listing Agent: Claire Washington

Interior Features

Interior Information:

  • Appliances: Oven/Range, Exhaust Fan, Ceiling Fan(s), Gas Water Heater
  • Interior: Breakfast Nook, Fixer-Upper
  • Fireplace: None

Bedroom and Bathroom Information:

  • Full Bathrooms: 1
  • Total Bedroom Count: 3

Exterior Features

Exterior Information:

  • Waterfront: None
  • Exterior: Porch, Screened Porch, Gutters, Vinyl

Parking Information:

  • Garage Space: 1 space
  • Attached Garage: Yes
  • Parking: Concrete, Alley Access, Attached, Door Opener, Alley Entrance, Paved Driveway, Other, Concrete Floors

Lot Features

Lot Information:

  • Lot: Level
  • Lot Size: 0.35 Acres

Utilities

Utilities Information:

  • Heating: Forced Air
  • Cooling: Central Air

Other

Directions Information:

  • Directions: Traveling on Munson Ave, take a left onto Eighth St. about a half mile you will take a left onto Terrace Dr. Home is on the left side of the street.

Price Information

Listing Price Info

Price Summary:

  • List Price: $308,000
  • Price Per SqFt: $321/SqFt

Tax Information:

  • Annual Amount: $4,150
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in Traverse City, MI.

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Traverse City, MI

City

Med. Sold Price

$450K

Med. Price/SqFt

$258

Avg. Days On Market

84

# of Sold Homes

87

547 Terrace Dr vs Traverse City

2 DAYS ON ROCKET

-82 Days

$308,000

-$142K Less

$321/SqFt

+$63 More

KEY TAKEAWAY

This property is $142K less than the Median Sold Price and $63/SqFt more than other homes in Traverse City, MI.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: TAAR
  • MLS Number: #1929731

Listing Office:

  • Office Name: REMAX Bayshore - Union St TC
  • Office Phone: (231) 941-4500
  • Listing Agent: Claire Washington

Copyright © 2024 Northern Great Lakes REALTORS® MLS™ All Rights Reserved. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 12/21/2024, 9:20:56 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

YEARPROP. TAXASSESSMENT
2021$4,150$105,100
2020$4,116$103,700
2019 - $89,300
2018 - $83,800
2017 - $87,100

History based on county public records data.

Payment Calculator

$1,605

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$990

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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

school-card-donut-791535
4
/10

  • Eastern Elementary School

  • 1600 Eastern Ave

  • 0.83 miles

  • Public District Grades PK-5

school-card-donut-791536
3
/10

  • Traverse Heights Elementary School

  • 933 Rose St

  • 0.92 miles

  • Public District Grades PK-5

school-card-donut-791537
7
/10

  • Central Grade Elementary School

  • 301 7th St

  • 2.12 miles

  • Public District Grades PK-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $42,364. The majority of Traverse City, MI residents have income less than $35k annually. The most common type of family is single, no kids. Most residents in this area have post secondary degree education.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 547 Terrace Dr

What is the listing price of this property?

The listing price of 547 Terrace Dr property is $308,000.

What type of property is this?

The property 547 Terrace Dr is a house located in Traverse City, Michigan, 49686.

Is this property for sale now?

Active Listing: 547 Terrace Dr is For Sale (Active/New) which means the seller is accepting offers.

What is the annual property tax for this property?

According to the records, the last property tax for 2021 is $4,150 (source: MLS/based on county public records data).

How many bedrooms and bathrooms does this property have?

The property at 547 Terrace Dr has 3 bedrooms and 1 bathroom.

What is the square footage of this property?

The property 547 Terrace Dr is 960 SqFt (source: MLS/tax record).

Which year was this property built?

The year of construction for 547 Terrace Dr is 1955.

Rocket Homes›Michigan›Grand Traverse County›Traverse City›49686›547 Terrace Dr

This home is located at 547 Terrace Dr in Traverse City, MI and zip code 49686. This 960 square foot home, which was built in 1955, sits on a 0.35 acre lot. Features: 3 bedrooms, 1 bathroom. It has been listed on Rocket Homes since December 19, 2024 and is currently priced at $308,000.

In November 2024 more than 8 listings in Traverse City, MI were sold above the asking price. During the same period more than 20 listings were sold at asking price, while more than 54 were sold below. The number of homes for sale in Traverse City, MI decreased by 8.3% between October 2024 and November 2024. Listings spent 84 days on the market in November 2024, and had a median list price of $450,000 during the same period.

From Rocket Homes Real Estate and based on county public records data.

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