Last Sold Price
3 beds4 baths1,230 sqft$93/sqft
463 West State Street, Cheboygan, MI 49721

Description

Here's your chance to own a prime investment property in the heart of downtown Cheboygan. This property features three one-bedroom units, offering excellent rental potential. While some updates are needed, the current owner has had no trouble keeping the units rented, highlighting strong demand in the area. The property has a new boiler and an updated electric panel, adding to its appeal. Located just a short walk from Main Street, this property offers easy access to local shops and dining. Enjoy...Here's your chance to own a prime investment property in the heart of downtown Cheboygan. This property features three one-bedroom units, offering excellent rental potential. While some updates are needed, the current owner has had no trouble keeping the units rented, highlighting strong demand in the area. The property has a new boiler and an updated electric panel, adding to its appeal. Located just a short walk from Main Street, this property offers easy access to local shops and dining. Enjoy the beautiful Cheboygan River, City Beach, and the popular bike/snowmobile trail, all just steps away. With its ideal location and potential for upgrades, this property is a great investment opportunity in a sought-after area. Seller is licensed Realtor in the state of Michigan.
LISTING CLOSED: 06/20/2025 12:00 AM

  1. Listed by Billy Jewell • Brokerage DRE #6505292461 • Berkshire Hathaway HomeServices-Cheboygan
    P: (231) 420-8032 C: (231) 420-8032 cheboyganadmin@bhhsmi.com

Property Details for 463 West State Street

Status
MLS #
201832732
Days on Market
200
Taxes
-
HOA Fees
-
Condo/Co-op Fees
-
Property Type
MLS Type
Residential Income / Triplex
Year Built
-
Lot Size
-
Architectural Style
Two Story
Subdivision Name
T38N R1W
Has Waterfront
No

Recent comparable sales

Median sold price

$130,000

Avg days on market

79

Sale-to-list ratio

98.9%

Cheboygan, MI

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Acres
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$104,000 | 998 Loomis Street, Cheboygan, MI 49721
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Square Feet
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Acres
$140,650 | 1107 Randolph Street, Cheboygan, MI 49721
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Bedrooms
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Square Feet
0.2
Acres
$110,000 | 619 Snow Apple Court, Cheboygan, MI 49721
1/17
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Sold 02/23/26

3
Bedrooms
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Square Feet
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Acres
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Sold 05/02/25

3
Bedrooms
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Bathrooms
1,326
Square Feet
0.4
Acres

Location

Listing Courtesy of Berkshire Hathaway HomeServices-Cheboygan

Sold By EXIT Waterway Realty

Add your commute

Building Information for 463 West State Street

Stories2Residences3Year Built-Building Size-Lot Size-

Payment Calculator

$660 per month

30 year fixed, 6.55% Interest

Principal and Interest

$585

Property Taxes

$75

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 463 West State Street

Summary
Location and General Information
  • Directions: From Main Street, head west on State St, corner of State and Dresser St on left.
  • Latitude: 45.648011
  • Longitude: -84.477706
  • Township: Cheboygan
Taxes and HOA
  • Parcel Number: 054-P39-005-003-00
  • Tax Block: 5
  • Tax Book Number: 054-P39-005-003-00
School Information
  • Elementary School: Cheboygan
  • High School: Cheboygan
  • High School District: Cheboygan Area
Parking
  • Garage: No
Property
Lot Information
  • Lot Size Dimensions: 92 x 68 x 70 x 72 x 44
  • Road Surface Type: Paved
Property and Assessments
  • Building Area Total: 1254.0
  • Living Area: 1230.0
  • Property Sub Type: Triplex
  • Property Type: Residential Income
Building Features
  • Foundation Details: Stone
  • Total Stories: 2
Utilities
  • Sewer: Public Sewer
Interior and Exterior Features
Interior Features
  • Appliances: Refrigerator, Gas Oven, Gas Range
  • Basement: Full, Unfinished
  • Has Basement: Yes
  • Total Bedrooms: 3
  • Has Cooling: No
  • Has Fireplace: No
  • Heating: Baseboard, Hot Water, Natural Gas
  • Has Heating: Yes
  • Water Heater: Gas
Room Information
Room 1
  • Type: Laundry
Multi Family
Multi Family Information
  • Number Of Units Total: 3

Property History for 463 West State Street

DateEvent & SourcePriceAppreciation
Jun 20, 2025

Sold (Public Record)

Public Record #1902124007

$15,000

+3.0% / yr

Jun 20, 2025

Sold

Water Wonderland Board of REALTORS #201832732

$115,000
Jun 20, 2025

Permanently Off Market

Water Wonderland Board of REALTORS #201832995

$129,900
DateEvent & SourcePrice
06/20/2025

Sold (Public Record)

Public Record #1902124007

$15,000

+3.0% / yr

06/20/2025

Sold

Water Wonderland Board of REALTORS #201832732

$115,000
06/20/2025

Permanently Off Market

Water Wonderland Board of REALTORS #201832995

$129,900

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 463 West State Street

Taxable ValueLand-Additions-Total-
Tax Record2025$896 ($75 / month)
Home Facts
Beds0Lot Size8,712 SqFtStyleSingle Family ResidenceCountyCHEBOYGANAPN054-P39-005-003-00

Schools near 463 West State Street

This home is within Cheboygan Area Schools.
Rating
School
Type
Grades
Distance
Public - K to 3
Public - 3 to 10
Public - 8 to 12
Public - 4 to 12
Rating
School
Distance
East Elementary School
PublicK to 3

Cheboygan Intermediate School
Public3 to 10

Cheboygan Area High School
Public8 to 12

Cheboygan Middle School
Public4 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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Nearby home values

AddressSold priceBedsBathsSqftLot (Sqft)
This home: 463 West State Street, Cheboygan, MI 49721
$115,000
3
4
1,230
$50,000
6,534
10,454
7,841
10,454
$32,500
3
1,211
4,602

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Berkshire Hathaway HomeServices-Cheboygan

The data relating to real estate on this website comes in part from the Internet Data Exchange Program of the Water Wonderland MLS (WWLX). Real estate listings held by brokerage firms other than Compass and its related brokerages are marked with the WWLX logo and the detailed information about said listing includes the listing office. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the listing broker(s) nor the broker which owns this website shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless. WWLX information is provided exclusively 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. Copyright © 2026 Water Wonderland MLS, Inc©. All Rights Reserved.