Here's your chance to own a prime investment property in the heart of downtown Cheboygan. This property features three one-bedroom units, offering excellent rental potential. While some updates are needed, the current owner has had no trouble keeping the units rented, highlighting strong demand in the area. The property has a new boiler and an updated electric panel, adding to its appeal. Located just a short walk from Main Street, this property offers easy access to local shops and dining. Enjoy the beautiful Cheboygan River, City Beach, and the popular bike/snowmobile trail, all just steps away. With its ideal location and potential for upgrades, this property is a great investment opportunity in a sought-after area. Seller is licensed Realtor in the state of Michigan.
Sold for $115,000
$115,000
463 W State St, Cheboygan, MI 49721
--beds
0baths
1,254sqft
Triplex
Built in ----
-- sqft lot
$-- Zestimate®
$92/sqft
$1,295 Estimated rent
Home value
Not available
Estimated sales range
Not available
$1,295/mo
Zestimate® history
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Zillow last checked:
Listing updated:
Listed by:
Billy Jewell billyjewell@bhhsmi.com,
Berkshire Hathaway HomeServices-Cheboygan
Source: WWMLS,MLS#: 201832732
Facts & features
Interior
Bedrooms & bathrooms
- Bathrooms: 0
Heating
- Natural Gas, Hot Water, Baseboard
Appliances
- Included: Refrigerator
- Laundry: None
Interior area
- Total structure area: 1,254
- Total interior livable area: 1,254 sqft
Property
Parking
- Parking features: Open
- Has uncovered spaces: Yes
Features
- Stories: 2
- Body of water: None
Lot
- Dimensions: 92 x 68 x 70 x 72 x 44
Details
- Parcel number: 054P3900500300
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Triplex
Materials
- Wood Siding
Utilities & green energy
- Sewer: Public Sewer
Community & HOA
Community
- Subdivision: T38N R1W
Location
- Region: Cheboygan
Financial & listing details
- Price per square foot: $92/sqft
- Tax assessed value: $54,200
- Annual tax amount: $882
- Date on market: 6/3/2025
- Listing terms: Cash,Conventional Mortgage
- Ownership: Owner
- Road surface type: Paved
Price history
| Date | Event | Price |
|---|---|---|
| 6/20/2025 | Sold | $115,000-11.5%$92/sqft |
Source:  WWMLS #201832732 Report a problem | ||
| 6/6/2025 | Contingent | $129,900$104/sqft |
Source: WWMLS #201832995 Report a problem | ||
| 6/3/2025 | Listed for sale | $129,900$104/sqft |
Source: WWMLS #201832995 Report a problem | ||
| 5/21/2025 | Contingent | $129,900$104/sqft |
Source: WWMLS #201832995 Report a problem | ||
| 4/15/2025 | Price change | $129,900-3.7%$104/sqft |
Source: WWMLS #201832995 Report a problem | ||
| 12/2/2024 | Listed for sale | $134,900+1024.2%$108/sqft |
Source: WWMLS #201832732 Report a problem | ||
| 12/22/2017 | Sold | $12,000$10/sqft |
Source:  MichRIC #17057962 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $882 +13.9% | $27,100 +15.8% |
| 2024 | $774 +3.5% | $23,400 +31.5% |
| 2023 | $748 -2.4% | $17,800 +27.1% |
| 2022 | $767 | $14,000 +6.9% |
| 2021 | -- | $13,100 -1.5% |
| 2020 | -- | $13,300 +8.1% |
| 2019 | -- | $12,300 -3.1% |
| 2018 | -- | $12,700 -48.2% |
| 2017 | -- | $24,500 |
| 2016 | -- | $24,500 +6.5% |
| 2015 | -- | $23,000 +3.1% |
| 2014 | -- | $22,300 -0.4% |
| 2012 | -- | $22,400 -5.9% |
| 2011 | -- | $23,800 -5.2% |
| 2010 | -- | $25,100 |
Find assessor info on the county website
Neighborhood: 49721
Nearby homes
- $88,200-- bd-- ba-- sqft424 Dresser St, Cheboygan, MI 49721Off Market
- $96,800-- bd-- ba-- sqft455 W State St, Cheboygan, MI 49721Off Market
- $99,9003 bd1 ba1.2k sqft449 W State St, Cheboygan, MI 49721Off Market
- $50,000-- bd-- ba-- sqft420 Dresser St, Cheboygan, MI 49721Sold
- $163,100-- bd-- ba-- sqft427 Dresser St, Cheboygan, MI 49721Off Market
- $106,800-- bd-- ba-- sqft504 Dresser St, Cheboygan, MI 49721Off Market
- $117,100-- bd-- ba-- sqft454 W State St, Cheboygan, MI 49721Off Market
- $147,800-- bd-- ba-- sqft425 Dresser St, Cheboygan, MI 49721Off Market
Nearby schools
GreatSchools rating
- NAEast Elementary SchoolGrades: K-3Distance: 0.8 mi
- 6/10Cheboygan Area High SchoolGrades: 8-12Distance: 1.3 mi
- 7/10Cheboygan Intermediate SchoolGrades: 3-5Distance: 1.4 mi
Schools provided by the listing agent
- Elementary: Cheboygan
- High: Cheboygan
Source: WWMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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- Michigan
- Cheboygan County
- Cheboygan
- 49721
- 463 W State St
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