Nestled on the shores of Lake Margrethe, this fully furnished, cozy and historic 4-bed, 1.5-bath Cape Cod offers sweeping views and timeless charm. Built in 1937, it features a cedar shake exterior, dormer windows, and a warm craftsman-inspired interior with refinished hardwood floors, wood-beamed ceilings, and a brick fireplace. Recent updates include a new upstairs bath, kitchen range, plumbing, whole-house water filtration, and new windows in three bedrooms. The detached two-car garage has upgraded electric. Enjoy 50 feet of private frontage, a peaceful screened porch, and a lakeside gazebo perfect for entertaining. With a newer water heater and thoughtful upgrades throughout, this Lake Margrethe gem blends classic character with modern comfort.
Sold
$525,000
3126 S Portage Ave, Grayling, MI 49738
4beds
1,885sqft
Single Family Residence
Built in 1937
6,534 Square Feet Lot
$565,800 Zestimate®
$279/sqft
$1,751 Estimated rent
Home value
$565,800
$515,000 - $622,000
$1,751/mo
Zestimate® history
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$3,342/mo
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List your homeWhat's special
Brick fireplaceRefinished hardwood floorsPeaceful screened porchLakeside gazeboWood-beamed ceilingsWhole-house water filtrationNew upstairs bath
Zillow last checked:
Listing updated:
Listed by:
Phil J Stancil 616-745-5233,
Stancil Realty
Bought with:
Chet Wheeler
Unknown Agency
Source: MichRIC,MLS#: 25037010
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 2
- Full bathrooms: 1
- 1/2 bathrooms: 1
- Main level bedrooms: 1
Heating
- Baseboard
Appliances
- Laundry: Lower Level
Features
- Basement: Michigan Basement
- Number of fireplaces: 1
Interior area
- Total structure area: 1,885
- Total interior livable area: 1,885 sqft
- Finished area below ground: 0
Property
Parking
- Total spaces: 2
- Parking features: Detached
- Garage spaces: 2
Features
- Stories: 2
- On waterfront: Yes
- Waterfront features: Lake
- Body of water: Lake Margrethe
Lot
- Size: 6,534 Square Feet
- Dimensions: 50 ft x 130.68 ft
Details
- Parcel number: 040453000200300
- Zoning description: R-1
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Cape Cod
- Property subtype: Single Family Residence
Materials
- Wood Siding
Condition
- New construction: No
- Year built: 1937
Utilities & green energy
- Water: Public
Community & HOA
Location
- Region: Grayling
Financial & listing details
- Price per square foot: $279/sqft
- Tax assessed value: $131,968
- Annual tax amount: $6,400
- Date on market: 7/25/2025
- Listing terms: Cash,Conventional
Price history
| Date | Event | Price |
|---|---|---|
| 8/27/2025 | Sold | $525,000-4.4%$279/sqft |
Source:  MichRIC #25037010 Report a problem | ||
| 8/18/2025 | Pending sale | $549,000$291/sqft |
Source: MichRIC #25037010 Report a problem | ||
| 7/25/2025 | Listed for sale | $549,000+37.3%$291/sqft |
Source: MichRIC #25037010 Report a problem | ||
| 7/30/2023 | Listing removed | -- |
Source:  NGLRMLS #1888954 Report a problem | ||
| 7/29/2021 | Sold | $400,000+14.3%$212/sqft |
Source: RE/MAX of Michigan Solds #1888954_49738 Report a problem | ||
| 6/23/2021 | Pending sale | $350,000$186/sqft |
Source:  RE/MAX of Michigan #1888954 Report a problem | ||
| 6/23/2021 | Contingent | $350,000$186/sqft |
Source: NGLRMLS #1888954 Report a problem | ||
| 6/17/2021 | Listed for sale | $350,000$186/sqft |
Source: NGLRMLS #1888954 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $5,831 +4.5% | $153,600 +3.5% |
| 2024 | $5,580 +4.8% | $148,400 +15.8% |
| 2023 | $5,322 | $128,200 +10.4% |
| 2022 | -- | $116,100 +9% |
| 2021 | -- | $106,500 +0.5% |
| 2020 | -- | $106,000 +3.4% |
| 2019 | -- | $102,500 +5.9% |
| 2018 | $3,142 +4% | $96,800 -3.4% |
| 2017 | $3,022 +0.9% | $100,200 -4.4% |
| 2016 | $2,996 | $104,800 |
| 2015 | $2,996 | $104,800 +5.4% |
| 2014 | -- | $99,400 -1.3% |
| 2013 | -- | $100,700 +14.7% |
| 2012 | -- | $87,800 -30.9% |
| 2011 | -- | $127,100 -8.3% |
| 2010 | -- | $138,600 |
Find assessor info on the county website
Neighborhood: 49738
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Nearby schools
GreatSchools rating
- 6/10Grayling Middle SchoolGrades: 5-8Distance: 3.3 mi
- 7/10Grayling High SchoolGrades: 9-12Distance: 4.7 mi
- 6/10Grayling Elementary - Ausable Primary SchoolGrades: PK-4Distance: 3.7 mi
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- Michigan
- Crawford County
- Grayling
- 49738
- 3126 S Portage Ave
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