8 months on rocket

3551 W Otsego Lake Dr, Gaylord, MI, 49735

$1,300,000

Home List Price

$10,000*

Closing Credit

7 Bedrooms
4 Full Baths
3,169 SqFt
$410/SqFt
House
Schools Nearby

Location

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3551 W Otsego Lake Dr, Gaylord$1,300,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeSingle Family Residence
Garage2 spaces
HeatingCentral, Forced Air, Natural Gas
CoolingCentral Air, Natural Gas
MLS #201825744
Lot Size2.40 Acres
StatusActive

About 3551 W Otsego Lake Dr

Possibilities abound for this unique, multifamily property on Otsego Lake. 4 cottages with excellent short- and long-term rental history, 150' of beautiful, sandy Otsego Lake frontage and 2.4 acres of prime property. Only a handful of lots this size still exist on Otsego Lake. Two cottages were built in 2015, Two renovated. Shared 20x20 garage for storage, private water system, newer pump-back septic system upgraded in 2015. The lot size gives you the option of adding additional cottages or a larger residence. There is also room for a large outbuilding, which could be divided for separate storage. Great return on investment as-is, or expand for even higher potential.

Property Details

Property Features

Property Information:

  • Architectural Style: Cabin
  • Living Area: 3,169 SqFt

Listing Office:

  • Office Name: smith realty GROUP
  • Office Phone: (989) 732-2477
  • Listing Agent: Ryan Wojan

Interior Features

Interior Information:

  • Appliances: Dishwasher, Microwave, Range, Oven, Refrigerator
  • Interior: Doorwall, Vaulted Ceilings, Wood Laminate

Bedroom and Bathroom Information:

  • Full Bathrooms: 4
  • Total Bedroom Count: 7

Exterior Features

Exterior Information:

  • Exterior: Cable TV, Deck, Shed, Sprinkler System

Parking Information:

  • Garage Space: 2 spaces
  • Attached Garage: No

Lot Features

Lot Information:

  • Lot Size: 2.40 Acres

Utilities

Utilities Information:

  • Heating: Central, Forced Air, Natural Gas
  • Cooling: Central Air, Natural Gas

School Info

Assigned Schools Information:

  • Gaylord Middle School, Public Magnet Grades 6-8
  • Gaylord Intermediate School, Public Magnet Grades 3-6

Other

Directions Information:

  • Directions: From Gaylord, S Otsego Ave, RIGHT on McCoy Rd, LEFT on Dickerson Rd, RIGHT on N Otsego Lake Rd, continue on W Otsego Lake Rd. Property on Left.

Price Information

Listing Price Info

Price Summary:

  • List Price: $1,300,000
  • Price Per SqFt: $410/SqFt
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Housing Market Comparison

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

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Gaylord, MI

City

Med. Sold Price

$250K

Med. Price/SqFt

$123

Avg. Days On Market

1

# of Sold Homes

24

3551 W Otsego Lake Dr vs Gaylord

265 DAYS ON ROCKET

+264 Days

$1,300,000

+$1.0M More

$410/SqFt

+$287 More

KEY TAKEAWAY

This property is $1.0M more than the Median Sold Price and $287/SqFt more than other homes in Gaylord, MI.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Number: #201825744

Listing Office:

  • Office Name: smith realty GROUP
  • Office Phone: (989) 732-2477
  • Listing Agent: Ryan Wojan

IDX © 2024 Water Wonderland MLS, Inc © All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange Program of the Water Wonderland MLS (WWLX). Real estate listings held by brokerage firms other than this broker are marked with the WWLX logo and the detailed information about said listing includes the listing office.The listings displayed come from various Water Wonderland Board of REALTORS® member offices who have chosen to participate in WWBR. 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. 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 Water Wonderland Board of REALTORS® shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 5/2/2024, 12:25:18 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

YEARPROP. TAXASSESSMENT
2020 - $219,600
2019 - $164,700
2018 - $161,100
2017 - $159,600

History based on county public records data.

Payment Calculator

$6,556

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$3,964

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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.

Elementary School

school-card-donut-4476507
7
/10

  • Gaylord Intermediate School

  • 240 E 4th St

  • 3.18 miles

  • Public Magnet Grades 3-6

Middle School

school-card-donut-4476508
6
/10

  • Gaylord Middle School

  • 600 E 5th St

  • 3.17 miles

  • Public Magnet Grades 6-8

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $60,054. The majority of Gaylord, MI residents have income between $35k-100k annually. Most families are single, no kids. The majority of residents in this area have post secondary degree education.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 3551 W Otsego Lake Dr

What is the listing price of this property?

The listing price of 3551 W Otsego Lake Dr property is $1,300,000.

What type of property is this?

The property 3551 W Otsego Lake Dr is a house located in Gaylord, Michigan, 49735.

Is this property for sale now?

Active Listing: 3551 W Otsego Lake Dr is For Sale (Active/New) which means the seller is accepting offers.

What are the assigned schools for this property?

The assigned schools for 3551 W Otsego Lake Dr are:
Gaylord Intermediate School: GreatSchools Rating 7/10
Gaylord Middle School: GreatSchools Rating 6/10

How many bedrooms and bathrooms does this property have?

The property at 3551 W Otsego Lake Dr has 7 bedrooms and 4 bathrooms.

What is the square footage of this property?

The property 3551 W Otsego Lake Dr is 3,169 SqFt (source: MLS/tax record).

Rocket Homes›Michigan›Otsego County›Gaylord›49735›3551 W Otsego Lake Dr

This home is located at 3551 W Otsego Lake Dr in Gaylord, MI and zip code 49735. This 3,169 square foot home sits on a 2.40 acre lot. Features: 7 bedrooms, 4 bathrooms. It has been listed on Rocket Homes since August 10, 2023 and is currently priced at $1,300,000.

In April 2024, from all listings sold in Gaylord, MI there were more than 2 sold above asking price, over 13 sold below and more than 9 were sold right at the asked price. The number of listings in Gaylord, MI increased by 29.6% between March 2024 and April 2024. The median list price of listings available in April 2024 was $250,000, while the average time on the real estate market was 1 days.

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

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