21 days on rocket

505 Cherry St, Petoskey, MI, 49770

$649,000

Home List Price

$7,707*

Closing Credit

4 Bedrooms
2 Full Baths, 1 Partial
2,648 SqFt
$245/SqFt
House
Schools Nearby

Location

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505 Cherry St, Petoskey$649,000

Buyer Closing Credits

$7,707*

1.25% Loan Amount

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Property Highlights

Home TypeSingle Family Residence
ParkingGarage-Attached
Attached Garage2 spaces
HeatingNatural Gas, Forced Air
BasementYes
FireplaceWood Burning Fireplace
MLS #473415
StatusActive

About 505 Cherry St

For the first time in over fifty-five years 505 Cherry Street is looking for a new family to enjoy this charming non-Victorian style home in the heart of downtown Petoskey on a giant, double-plus corner lot with 3 floors of living space and room to expand. This is one of the custom-built homes by Petoskey's renowned brick home builder Richard A. Wilbur, and true to form it features a lot of mid-century characteristics with beautiful hardwood flooring, custom built-ins, coved ceilings, unique storage options, and interesting spaces for stay at home work as well as relaxing. With two bedrooms upstairs and two bedrooms on the main floor plus a rare functional in town lower level, this house checks the boxes for young families and retirees alike and is walking distance from town and several schools. Multi-generational families can make this a great option as well with room for everyone as it is currently configured or there is a great to be finished space above the oversized garage with its own designated entrance. The grounds are gorgeous and full of well-kept trees and plantings flanking beautiful outdoor patios on both sides of the home that allowed these owners to enjoy sun and shade depending on their preference and the time of day. This a magnificent home and property perfectly positioned in one of our finest neighborhoods and is available for immediate occupancy, so get yourself to Northern Michigan just in time for summer and start enjoying the comfortable even paced lifestyle that Petoskey and The Little Traverse Bay Region provides. Contact today for a private showing.

Property Details

Property Features

Property Information:

  • Living Area: 2,648 SqFt

Listing Office:

  • Office Name: Gaslight Group Properties
  • Listing Agent: Michael "Mac" McCarthy

Interior Features

Interior Information:

  • Appliances: Dishwasher, Dryer, Disposal, Range, Refrigerator, Washer
  • Basement: Yes
  • Flooring Type: Wood
  • Interior: Cable, Patio
  • Fireplace: Wood Burning Fireplace

Bedroom and Bathroom Information:

  • Partial Bathrooms: 1
  • Full Bathrooms: 2
  • Total Bedroom Count: 4

Exterior Features

Exterior Information:

  • Exterior: Patio

Parking Information:

  • Garage Space: 2 spaces
  • Attached Garage: Yes
  • Parking: Garage-Attached

Virtual/3D Tour

  • 3D Tour: 505 Cherry St

3D Tour

Lot Features

Lot Information:

  • Lot: Paved

Utilities

Utilities Information:

  • Heating: Natural Gas, Forced Air

Other

Directions Information:

  • Directions: From the corner of Mitchell and Howard Street in the middle of downtown Petoskey, travel east on Mitchell one block to Waukazoo Street, turn right and follow to Cherry Street, turn left and this great home occupies the corner of Waukazoo & Cherry Street.

Price Information

Listing Price Info

Price Summary:

  • List Price: $649,000
  • Price Per SqFt: $245/SqFt
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Housing Market Comparison

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

Med. Sold Price

$438.3K

Med. Price/SqFt

$231

Avg. Days On Market

14

# of Sold Homes

15

505 Cherry St vs Petoskey

21 DAYS ON ROCKET

+7 Days

$649,000

+$210.6K More

$245/SqFt

+$14 More

KEY TAKEAWAY

This property is $210.6K more than the Median Sold Price and $14/SqFt more than other homes in Petoskey, MI.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Number: #473415

Listing Office:

  • Office Name: Gaslight Group Properties
  • Listing Agent: Michael "Mac" McCarthy

IDX 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: 4/29/2024, 9:25:14 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 - $193,300
2020 - $160,900
2019 - $157,900
2018 - $137,500
2017 - $135,000

History based on county public records data.

Payment Calculator

$3,307

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$2,012

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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.

Nearby Schools

school-card-donut-3355137
8
/10
  • Central Elementary School

  • 410 State St

  • 0.27 miles

  • Public Magnet Grades PK-5

school-card-donut-3355138
7
/10
  • Sheridan School

  • 1415 Howard St

  • 0.45 miles

  • Public Magnet Grades KG-5

school-card-donut-3355139
7
/10
  • Ottawa Elementary School

  • 871 Kalamazoo Ave

  • 0.48 miles

  • Public Magnet Grades KG-5

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $50,772. The majority of Petoskey, MI residents have income between $35k-100k annually. Typical family type 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 505 Cherry St

What is the listing price of this property?

The listing price of 505 Cherry St property is $649,000.

What type of property is this?

The property 505 Cherry St is a house located in Petoskey, Michigan, 49770.

Is this property for sale now?

Active Listing: 505 Cherry St is For Sale (Active/New) which means the seller is accepting offers.

How many bedrooms and bathrooms does this property have?

The property at 505 Cherry St has 4 bedrooms and 2 full and 1 half bathrooms.

What is the square footage of this property?

The property 505 Cherry St is 2,648 SqFt (source: MLS/tax record).

Rocket Homes›Michigan›Emmet County›Petoskey›49770›505 Cherry St

This home is located at 505 Cherry St in Petoskey, MI and zip code 49770. Features: 4 bedrooms, 3 bathrooms. It has been listed on Rocket Homes since April 08, 2024 and is currently priced at $649,000.

In March 2024 more than 2 listings in Petoskey, MI were sold above the asking price. During the same period more than 2 listings were sold at asking price, while more than 11 were sold below. The inventory of homes for sale in Petoskey, MI between February 2024 and March 2024 increased by 10.8%. Listings spent 14 days on the market in March 2024, and had a median list price of $438,316 during the same period.

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

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