Located in the heart of Petoskey, this versatile in-town home offers an exceptional location directly across the street from McLaren Northern Michigan Hospital and just a short distance from downtown Petoskey’s shopping, restaurants, and the scenic Bear River Walkway. Currently utilized as a two-unit rental, the property provides numerous possibilities—continue its income-producing use, or easily convert it back to a single-family residence with the added bonus of separate living quarters above the garage. The home has seen many recent improvements, including a new roof on the main house approximately five years ago, brand-new windows throughout the main house, and a newly rebuilt front porch that adds to its curb appeal. Above the garage, a newly renovated one-bedroom, one-bath apartment offers excellent flexibility, whether used as a rental for additional income or as comfortable guest accommodations. With its prime location, recent updates, and flexible layout, this property presents a rare opportunity to own a home that can adapt to a variety of living or investment needs in one of Petoskey’s most convenient neighborhoods.
For sale
$399,900
431 Madison St, Petoskey, MI 49770
5beds
2,461sqft
SingleFamily
Built in 1950
7,500 Square Feet Lot
$384,200 Zestimate®
$162/sqft
$-- HOA
What's special
Flexible layout
- 173 days |
- 850 |
- 33 |
Zillow last checked:
Listing updated:
Listed by:
Clinton Shuman,
Real Estate One 231-347-6200
Source: Northern Michigan MLS,MLS#: 478568
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Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 2
- Full bathrooms: 2
Primary bedroom
- Area: 237.9
- Dimensions: 18.3 x 13
Bedroom
- Area: 111.14
- Dimensions: 9.11 x 12.2
Bedroom 1
- Area: 127.72
- Dimensions: 10.3 x 12.4
Bedroom 2
- Area: 156.16
- Dimensions: 12.8 x 12.2
Dining room
- Area: 166.41
- Dimensions: 12.9 x 12.9
Kitchen
- Area: 149.34
- Dimensions: 13.1 x 11.4
Living room
- Area: 168.98
- Dimensions: 14.2 x 11.9
Heating
- Natural Gas, Forced Air
Appliances
- Included: Refrigerator, Dryer, Range
Features
- Basement: Michigan
Interior area
- Total interior livable area: 2,461 sqft
Property
Parking
- Parking features: Detached Garage
- Has garage: Yes
- Covered spaces: 2
Features
- Patio & porch: Deck
Lot
- Size: 7,500 Square Feet
- Dimensions: 50 x 150
Details
- Additional structures: None
- Parcel number: 521906127063
Construction
Type & style
- Home type: SingleFamily
Materials
- Wood Frame/Site Built
Condition
- Year built: 1950
Utilities & green energy
- Sewer: City
- Water: City
- Utilities for property: Cable Connected
Community & HOA
HOA
- Has HOA: No
Location
- Region: Petoskey
Financial & listing details
- Price per square foot: $162/sqft
- Tax assessed value: $150,200
- Date on market: 1/16/2026
Estimated market value
$384,200
$365,000 - $403,000
$3,016/mo
Price history
| Date | Event | Price |
|---|---|---|
| 1/16/2026 | Listed for sale | $399,900$162/sqft |
Source: | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2021 | -- | $75,100 +13.6% |
| 2020 | -- | $66,100 +1.8% |
| 2019 | -- | $64,900 +43.9% |
| 2018 | -- | $45,100 +26.7% |
| 2017 | -- | $35,600 -3.8% |
| 2016 | -- | $37,000 -1.3% |
| 2015 | -- | $37,500 -22.8% |
| 2014 | -- | $48,600 -22% |
| 2013 | -- | $62,300 +1.5% |
| 2012 | -- | $61,400 -5% |
| 2011 | -- | $64,600 +20.3% |
| 2010 | -- | $53,700 |
Find assessor info on the county website
Monthly payment
Est. payment$--/mo
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
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Climate risks
Neighborhood: 49770
Nearby schools
GreatSchools rating
- 10/10Lincoln SchoolGrades: K-5Distance: 0.2 mi
- 9/10Petoskey Middle SchoolGrades: 6-8Distance: 1.7 mi
- 7/10Petoskey High SchoolGrades: 9-12Distance: 1.5 mi
Schools provided by the listing agent
- District: Petoskey
Source: Northern Michigan MLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
A local agent can set up tours, give advice and negotiate with sellers.
- Michigan
- Emmet County
- Petoskey
- 49770
- 431 Madison St





