Remarkable opportunity to purchase a spectacular building site on Torch Lake. Located amongst the finest estates on the lake, this walkout property features mature trees and 106’ of frontage with a rare BOATHOUSE! Property approved for conventional septic system. Price includes tree removal, EGLE permitted shoreline work and existing house demo. Owner is licensed Realtor in State of MI.
Property Details
Property Features
Listing Office:
Office Name: J. Peterson Realty
Listing Agent: Joel Peterson
Exterior Features
Exterior Information:
Waterfront: All Sports
Exterior: Will Build to Suit
Lot Features
Lot Information:
Lot: Sloped
Lot Size: 1.42 Acres
School Info
Assigned Schools Information:
Elk Rapids High School, Public District Grades 9-12
Cherryland Middle School, Public District Grades 6-8
Lakeland Elementary School, Public District Grades PK-5
Other
Directions Information:
Directions: US 31 to McLachlan Rd. East to Torch Lake Drive. North to house.
Price Information
Listing Price Info
Price Summary:
List Price: $1,595,000
What can I afford?
Understand what home price range makes sense for your budget.
Housing Market Comparison
See how this home compares to others in Elk Rapids Township, MI.
We're sorry, we currently don't have sales or tax history data for this listing.
Payment Calculator
Calculate your estimated monthly expenses for this listing. Play with the values below to better understand your monthly payment and utilities.
$8,028
Per Month
Principal & Interest
$7,961
Home PriceThe dollar amount you pay for the home.
$
Interest RateMortgage interest rates fluctuate, but they're typically in the 5% to 9% range. Your rate will be calculated based on personal details including your credit score.
%
Down PaymentThe initial money paid at closing that is usually a percentage of the purchase price. Most loans require at least 3% down, but a 0% down payment may be possible if you're eligible for a VA or USDA loan.
$%
Loan TermThis is how long you'll pay on the loan. A longer term gives you smaller payments, while a shorter term saves you money on interest.
Property Taxes
$0
Property Taxes -Annual CostEvery homeowner pays taxes to their local government based on their home's value and the property tax rates for the county or city. Most areas charge property taxes semiannually.
$/ Year
Mortgage Insurance
$0
Mortgage Insurance -Monthly PremiumMortgage insurance helps secure a mortgage with a lower down payment. It typically costs 0.1% - 2% of your loan amount per year.
$/ Month
Homeowners Insurance
$67
Homeowners Insurance -Monthly PremiumMost homeowners pay about $1,000 a year for homeowners insurance, but the cost varies based on your location, home and coverage.
$/ Month
Homeowners Association (HOA)
$0
Homeowners Association -Monthly FeesHomeowners Association (HOA) fees can range from $30 per month to $500+ per month. Be sure to ask your agent about HOA fees on a home as it can impact your affordability or check the online home listing.
$/ Month
Utilities
$0
Utilities - Monthly CostYou'll need to budget for utilities as a homeowner, which typically includes water and sewer, gas and electric, internet and cable. Cost will depend on your location and the size of your home. On a monthly basis, Americans pay $239 - $442 per month.
$/ Month
Recommended Financing
30-Year Fixed
Rate/APR
7.5% / 6.68%
Total Monthly Payment
$4,848
Powered By
Advertisement
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
8
/10
Lakeland Elementary School
616 Buckley St
Distance between this listing and this school3.50 miles
Public District Grades PK-5
Middle School
7
/10
Cherryland Middle School
707 E 3rd St
Distance between this listing and this school3.66 miles
Public District Grades 6-8
High School
8
/10
Elk Rapids High School
308 Meguzee Pt
Distance between this listing and this school3.84 miles
Public District Grades 9-12
Assigned Schools
8
/10
Lakeland Elementary School
616 Buckley St
Distance between this listing and this school3.50 miles
Public District Grades PK-5
Nearby Schools
8
/10
John R Rodger Elementary School
6535 John R Rodgers Rd
Distance between this listing and this school7.73 miles
Public District Grades KG-5
8
/10
Mill Creek Elementary School
9039 Old M 72
Distance between this listing and this school11.97 miles
Public District Grades PK-5
Assigned Schools
7
/10
Cherryland Middle School
707 E 3rd St
Distance between this listing and this school3.66 miles
Public District Grades 6-8
Nearby Schools
4
/10
Kalkaska Middle School
1700 W Kalkaska St
Distance between this listing and this school16.78 miles
Public District Grades 6-8
4
/10
Cherry Street Intermediate School
315 S Cherry St
Distance between this listing and this school17.51 miles
Public District Grades 4-5
Assigned Schools
8
/10
Elk Rapids High School
308 Meguzee Pt
Distance between this listing and this school3.84 miles
Public District Grades 9-12
Nearby Schools
7
/10
Bellaire Middle/High School
204 W Forrest Home Ave
Distance between this listing and this school8.27 miles
Public District Grades 6-12
4
/10
Central Lake Public Schools
8190 West State St
Distance between this listing and this school9.91 miles
The neighbors living near this home have an average income of $73,011. Residents of Elk Rapids Township, MI typically earn between $35k-100k each year. The majority of families are married, 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 693 NW Torch Lake Dr
What is the listing price of this property?
The listing price of 693 NW Torch Lake Dr property is $1,595,000.
What type of property is this?
The property 693 NW Torch Lake Dr is land located in Kewadin, Michigan, 49648.
Is this property for sale now?
Active Listing: 693 NW Torch 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 693 NW Torch Lake Dr are: Lakeland Elementary School: GreatSchools Rating 8/10Cherryland Middle School: GreatSchools Rating 7/10Elk Rapids High School: GreatSchools Rating 8/10
How much acreage is this property?
The property 693 NW Torch Lake Dr is 1.42 acres.
Interested in 693 NW Torch Lake Dr? Let's connect.
By checking this box and submitting your personal information, you agree to our Terms of Use and Privacy Policy. You also expressly consent to having Rocket Homes Real Estate LLC, its Family of Companies, Rocket Homes Network Partners, and potentially our mortgage partners contact you about your inquiry by text message or phone (including automatic telephone dialing system or an artificial or prerecorded voice) to the residential or cellular telephone number you have provided, even if that telephone number is on a corporate, state, or national Do Not Call Registry. You do not have to agree to receive such calls or messages as a condition of getting any services from Rocket Homes Real Estate, LLC or its partners. By communicating with us by phone, you consent to calls being recorded and monitored. You also agree that we can share your personal data and contact information with third parties such as mortgage partners, partner companies, and affiliates, and that these parties may use your personal data and contact information for marketing and analytic purposes, and to improve your experience.
This home is located at 693 NW Torch Lake Dr in Kewadin, MI and zip code 49648. This home sits on a 1.42 acre lot. It has been listed on Rocket Homes since March 08, 2024 and is currently priced at $1,595,000.
While more than 2 listings in Elk Rapids Township, MI in March 2024 were sold above asking price, there were more than 2 listings sold at asking price, and more than 3 were sold below. The number of homes for sale in Elk Rapids Township, MI increased by 9.5% between February 2024 and March 2024. In March 2024, listings were on the market for 71 days. During the same period, the median list price in this real estate market was $425,000.
From Rocket Homes Real Estate and based on county public records data.
Hunting
Hunting
Figure Skating
NASCAR
Dillards
Dick's Sporting Goods
Wal-Mart
Cracker Barrel
Texas Roadhouse
Hardee's
Cadillac
Subaru
Ram
News/Talk/Information
New Country
Classic Country