Located in the heart of Traverse City, this 2-bedroom, 1.5-bath this home sits on a rare and highly sought-after city lot offering exceptional potential for future expansion or redevelopment. The property’s deep lot allows room for a garage addition or possibly an auxiliary dwelling unit (ADU) a unique opportunity for those looking to invest, create additional living space, or generate rental income right in town. The existing home provides comfortable living with an efficient layout and great natural light, making it ideal for full-time residents, first-time buyers, or investors looking to enhance value. The real appeal, however, lies in the versatility of the lot and location—close to downtown shopping, dining, beaches, and all that Traverse City living has to offer.
Sold for $290,000
$290,000
321 Fair St, Traverse City, MI 49686
2beds
1,131sqft
Single Family Residence
Built in 1949
7,840 Square Feet Lot
$299,400 Zestimate®
$256/sqft
$2,162 Estimated rent
Home value
$299,400
$269,000 - $332,000
$2,162/mo
Zestimate® history
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List your homeWhat's special
Great natural lightEfficient layoutDeep lot
Zillow last checked:
Listing updated:
Listed by:
Jennifer Hastings Cell:443-895-0764,
Key Realty One-TC 231-559-0351
Bought with:
Non Member Office
NON-MLS MEMBER OFFICE
Source: NGLRMLS,MLS#: 1940479
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 2
- Full bathrooms: 1
- 1/2 bathrooms: 1
- Main level bathrooms: 1
- Main level bedrooms: 1
Primary bedroom
- Level: Main
- Area: 130.8
- Dimensions: 10.9 x 12
Bedroom 2
- Level: Upper
- Area: 174.24
- Dimensions: 12.1 x 14.4
Primary bathroom
- Features: Shared
Dining room
- Level: Main
- Area: 141.7
- Dimensions: 10.9 x 13
Kitchen
- Level: Main
- Area: 153.4
- Dimensions: 11.8 x 13
Living room
- Level: Main
- Area: 227.41
- Dimensions: 11.9 x 19.11
Heating
- Forced Air, Natural Gas
Appliances
- Included: None
- Laundry: Main Level
Features
- Entrance Foyer, Solid Surface Counters, Mud Room, Drywall, Ceiling Fan(s)
- Flooring: Carpet, Laminate
- Has fireplace: No
- Fireplace features: None
Interior area
- Total structure area: 1,131
- Total interior livable area: 1,131 sqft
- Finished area above ground: 1,131
- Finished area below ground: 0
Property
Parking
- Parking features: None, Concrete, Dirt, Alley Access
Accessibility
- Accessibility features: None
Features
- Levels: Two
- Stories: 2
- Exterior features: Sprinkler System
- Waterfront features: None
Lot
- Size: 7,840 Square Feet
- Dimensions: 48 x 166 x 49 x 165
- Features: Other, Metes and Bounds, Split Possible
Details
- Additional structures: None
- Parcel number: 5158201000
- Zoning description: Residential
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Single Family Residence
Materials
- Frame, Vinyl Siding
- Foundation: Block
- Roof: Asphalt
Condition
- New construction: No
- Year built: 1949
Utilities & green energy
- Sewer: Public Sewer
- Water: Private
Community & HOA
Community
- Features: None
- Subdivision: Foster & Crotsers Add
HOA
- Services included: None
Location
- Region: Traverse City
Financial & listing details
- Price per square foot: $256/sqft
- Tax assessed value: $310,000
- Annual tax amount: $1,863
- Price range: $290K - $290K
- Date on market: 11/13/2025
- Cumulative days on market: 13 days
- Listing agreement: Exclusive Right Sell
- Listing terms: Conventional,Cash,1031 Exchange
- Ownership type: Private Owner
- Road surface type: Asphalt
Price history
| Date | Event | Price |
|---|---|---|
| 11/26/2025 | Sold | $290,000-6.5%$256/sqft |
Source:  NGLRMLS #1940479 Report a problem | ||
| 11/20/2025 | Pending sale | $310,000-61.7%$274/sqft |
Source: NGLRMLS #1940479 Report a problem | ||
| 11/13/2025 | Price change | $810,000+161.3%$716/sqft |
Source: NGLRMLS #1940492 Report a problem | ||
| 11/13/2025 | Listed for sale | $310,000$274/sqft |
Source: NGLRMLS #1940479 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $1,863 +7.5% | $155,000 +9.7% |
| 2024 | $1,732 +4.7% | $141,300 +26.3% |
| 2023 | $1,654 +2.1% | $111,900 +0.6% |
| 2022 | $1,621 +1% | $111,200 +10.9% |
| 2021 | $1,605 +0.3% | $100,300 +7.3% |
| 2020 | $1,600 | $93,500 +10.9% |
| 2019 | $1,600 +2.1% | $84,300 +6.8% |
| 2018 | $1,567 | $78,900 +10% |
| 2017 | -- | $71,700 +12% |
| 2016 | -- | $64,000 +11.7% |
| 2014 | -- | $57,300 +1.4% |
| 2012 | -- | $56,500 +0.7% |
| 2011 | -- | $56,100 -6.7% |
| 2010 | -- | $60,100 -1% |
| 2009 | -- | $60,700 -1.1% |
| 2008 | -- | $61,360 +5.4% |
| 2007 | -- | $58,240 +5.3% |
| 2005 | -- | $55,320 +3.8% |
| 2004 | -- | $53,300 +10.8% |
| 2003 | -- | $48,100 +5.8% |
| 2002 | -- | $45,450 +4.2% |
| 2001 | -- | $43,630 +4.9% |
| 2000 | -- | $41,610 |
Find assessor info on the county website
Neighborhood: 49686
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Nearby schools
GreatSchools rating
- 7/10Eastern Elementary SchoolGrades: PK-5Distance: 0.5 mi
- 7/10Central High SchoolGrades: 8-12Distance: 0.4 mi
- 7/10East Middle SchoolGrades: 6-8Distance: 3.9 mi
Schools provided by the listing agent
- District: Traverse City Area Public Schools
Source: NGLRMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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