524 State Street

Petoskey, MI 49770

$850,000
Price
6
Beds
—Sq. Ft.
— / Sq. Ft.
—
Sq. Ft.
—
per Sq. Ft.
Front of Home
474955-19dfc932-b17a-460d-b451-8859b809c
474955-0cb3bac7-bd29-40bd-8301-d437d79c3
474955-a95862d2-be9f-476c-be0c-23f9167e9
474955-7faddb99-b5ea-4e0f-ac79-65533542b
474955-55d3925d-e240-4324-af20-29c190c83
474955-98f51395-2afc-489b-b97d-c7f2bcfee

Description

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.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.
  1. Listed by Christopher Skrobeck • Van Treese Management LLC
    P: (906)-360-4908 C: (906)-360-4908 christopher@vantreesemanagement.com

Amenities

  • Basement
  • Forced Air
  • Internet Included
  • Porch
LISTING UPDATED: 01/28/2026 02:43 PM

Property Details for 524 State Street

StatusActive
MLS #26003300
Days on Market1
Taxes$15,500 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family / 5+ Units
Year Built1900
Lot Size0.16 AC / 7,120 SF
CountyEmmet County

Location

Listing Courtesy of Van Treese Management LLC
Add your commute

Building Information for 524 State Street

Stories-Residences6Year Built1900Building Size-Lot Size0.16 AC / 7,120 SF

Payment Calculator

$5,434 per month

30 year fixed, 6.15% Interest

Principal and Interest

$4,143

Property Taxes

$1,292

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 524 State Street

Summary
Location and General Information
  • Cross Streets: Waukazoo & Woodland
  • Municipality: Petoskey City
  • Street #: 524
  • Street Name: State
  • Suffix: Street
  • City: Petoskey
  • State: MI
  • Zip Code: 49770
  • County: Emmet
  • Latitude: 45.371545
  • Longitude: -84.951792
Taxes and HOA
  • Taxable Value: 140700.0
  • Approx. Assoc Fee: $0
  • Tax ID #: 52-19-05-100-090
Parking
  • Parking Total: 0.0
  • Driveway: None
Virtual Tour
  • Total Virtual Tours Count: 0
  • Total Open Houses Count: 0
Property
Lot Information
  • Lot Dimensions: 50x145
  • Lot Measurement: Acres
  • Lot Acres: 0.16
  • Lot Square Footage: 7120.0
  • Lot Size Area: 0.16
Property and Assessments
  • Tax Year: 2024
  • Road Surface Type: Paved
  • Legal: VILLAGE OF PETOSKEY CITY LOT 6 BLK 6. SECTION 5, T34N, R5W.
  • Property Sub-Type: 5+ Units
  • New Construction: No
  • Total Floor Plans Count: 0
  • Property Type: Multi Family
  • Year Built: 1900
  • Video Groups: 0
Utilities
  • Utilities: Natural Gas Available, Electricity Available, Natural Gas Connected, Electricity Connected, Cable Connected
  • Sewer: Public Sewer, True
  • Util Avail at Street: Electricity Available, High Speed Internet, Natural Gas Available, Public Sewer, Public Water
  • Utilities Attached: Cable Connected, Electricity Connected, Natural Gas Connected
  • Water: Public Water
Interior and Exterior Features
Exterior Features
  • Roof: Composition
  • Construction Materials: Wood Siding, Other
  • Street Type: Paved
  • Exterior Material: Wood Siding, Other
  • Roofing: Composition
  • Substructure: Michigan Basement
Interior Features
  • Heating: Forced Air
  • Laundry Features: None
  • Basement: Yes
  • Cooling: None
  • Basement Yes/No: Yes
  • Bathrooms Total (Integer): 0
  • Bathrooms Total (Decimal): 0.0
  • Bathrooms Total (Notational): 0.0
  • Cooling: No
  • Heating: Yes
  • Heat Source: Natural Gas
  • Heat Type: Forced Air
  • Air Conditioning: None
Multi Family
Multi Family Information
  • Number of Units: 6
Income & Expense
  • Manager Expense: $7,041.03
  • Insurance Expense: $5,312.00
  • Net Operating Income: $55,024.35
  • Operating Expense: $44,575.65
  • Gross Income: $97,800.00
Unit Information
Unit 1
  • BathsTotal: 1
  • BedsTotal: 1
  • FullBaths: 1
  • HalfBaths: 0
  • Description: Studio
Unit 2
  • BathsTotal: 1
  • BedsTotal: 1
  • FullBaths: 1
  • HalfBaths: 0
  • Description: Studio
Unit 3
  • BathsTotal: 1
  • BedsTotal: 1
  • FullBaths: 1
  • HalfBaths: 0
  • Description: Studio
Unit 4
  • BathsTotal: 1
  • BedsTotal: 1
  • FullBaths: 1
  • HalfBaths: 0
  • Description: 1 bedroom w/ office
Unit 5
  • BathsTotal: 1
  • BedsTotal: 1
  • FullBaths: 1
  • HalfBaths: 0
  • Description: 1 bedroom w/ sunroom
Unit 6
  • BathsTotal: 1
  • BedsTotal: 1
  • FullBaths: 1
  • HalfBaths: 0
  • Description: 1 bedroom updated
Unit 7
  • BathsTotal: 0
Unit 8
  • BathsTotal: 0
Unit 9
  • BathsTotal: 0
Unit 10
  • BathsTotal: 0
Unit 11
  • BathsTotal: 0
Unit 12
  • BathsTotal: 0
Rental
Rental Information
  • Tenant Pays: None
  • Owner Pays: Electricity, Gas, Sewer, Trash Collection, Water
  • Terms Available: Cash, Conventional, FHA

Property History for 524 State Street

DateEvent & SourcePriceAppreciation
Jan 28, 2026

Listed (Active)

Michigan Regional Information Center #26003300

$850,000—
Dec 31, 2021

Sold (Public Record)

Public Record #1481567307

$500,000—
DateEvent & SourcePrice
01/28/2026

Listed (Active)

Michigan Regional Information Center #26003300

$850,000
12/31/2021

Sold (Public Record)

Public Record #1481567307

$500,000

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

Public Records for 524 State Street

Taxable ValueLand$126,000Additions-Total$126,000
Home Facts
StyleMiscellaneous CommercialZoningCOP R-2CountyEMMETAPN52-19-05-100-090

Schools near 524 State Street

This home is within Public Schools Of Petoskey.
Rating
School
Type
Grades
Distance
Central Elementary School
Public - K to 5
Petoskey Middle School
Public - 6 to 8
Petoskey High School
Public - 9 to 12
Ottawa Elementary School
Public - PK to 5
Rating
School
Distance
Central Elementary School
PublicK to 5

Petoskey Middle School
Public6 to 8

Petoskey High School
Public9 to 12

Ottawa Elementary School
PublicPK to 5

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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More information about 524 State Street, Petoskey, MI 49770

524 State Street is a multi-family home for sale in Petoskey, MI 49770. This property was listed for sale on January 28, 2026 by Van Treese Management LLC, it's currently listed at $850,000. It has been on the market for a total of 1 days and was last sold on December 31, 2021. This listing's school district is Public Schools Of Petoskey. Nearby schools include Central Elementary School, Petoskey Middle School and Petoskey High School. 524 State Street is a 6-bed, 6-bath, multi-family home built in 1900.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims 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 discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Van Treese Management LLC

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