Turnkey 3-Unit Riverfront Retreat in Luther, MI - Former Airbnb Gem!
Tucked away on the peaceful banks of the Pine River, this fully furnished 3-unit property offers the perfect blend of rustic charm and modern convenience. With plenty of beds across all units, it's ideal for group getaways, retreats, or continued use as a successful Airbnb rental.
Enjoy the ultimate up north experience with direct river access for fishing, a private, wooded setting, and your own on-site sauna—perfect for relaxing after a day outdoors. Each unit is thoughtfully equipped and move-in ready, providing a seamless transition whether you're planning to host guests or keep it all to yourself.
A rare find with privacy, comfort, and income potential all wrapped into one riverside package this Luther hideaway is ready for its next chapter.
Sold
$102,000
5495 N Karley Ct, Luther, MI 49656
4beds
783sqft
Single Family Residence
Built in 1992
0.32 Acres Lot
$105,100 Zestimate®
$130/sqft
$1,141 Estimated rent
Home value
$105,100
Estimated sales range
Not available
$1,141/mo
Zestimate® history
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$529/mo
Est. payment
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Est. payment
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List your homeWhat's special
On-site saunaModern conveniencePrivate wooded settingRustic charmPlenty of bedsDirect river accessMove-in ready
Zillow last checked:
Listing updated:
Listed by:
Ashley Bodell 616-965-5789,
Bellabay Realty (North)
Bought with:
Troy L Calhoon
Source: MichRIC,MLS#: 25017902
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 2
- Full bathrooms: 2
- Main level bedrooms: 4
Primary bedroom
- Level: Main
- Area: 144
- Dimensions: 12.00 x 12.00
Dining room
- Description: Formal
Kitchen
- Level: Main
- Area: 120
- Dimensions: 10.00 x 12.00
Living room
- Level: Main
- Area: 168
- Dimensions: 12.00 x 14.00
Heating
- Forced Air
Appliances
- Included: Microwave, Range, Refrigerator
- Laundry: None
Features
- Basement: Crawl Space,Slab
- Has fireplace: No
Interior area
- Total structure area: 783
- Total interior livable area: 783 sqft
Property
Features
- Stories: 1
- On waterfront: Yes
- Waterfront features: River
- Body of water: Pine River
Lot
- Size: 0.32 Acres
- Features: Wooded
Details
- Parcel number: 0835001551
- Zoning description: Residential
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Ranch
- Property subtype: Single Family Residence
Materials
- Vinyl Siding, Wood Siding
- Roof: Composition
Condition
- New construction: No
- Year built: 1992
Utilities & green energy
- Sewer: Septic Tank
- Water: Well
Community & HOA
Location
- Region: Luther
Financial & listing details
- Price per square foot: $130/sqft
- Tax assessed value: $29,534
- Annual tax amount: $1,567
- Date on market: 4/26/2025
- Listing terms: Cash
Price history
| Date | Event | Price |
|---|---|---|
| 8/15/2025 | Sold | $102,000-0.5%$130/sqft |
Source:  MichRIC #25017902 Report a problem | ||
| 8/6/2025 | Pending sale | $102,500$131/sqft |
Source: MichRIC #25017902 Report a problem | ||
| 7/23/2025 | Price change | $102,500-10.9%$131/sqft |
Source: MichRIC #25017902 Report a problem | ||
| 6/21/2025 | Price change | $115,000-4.2%$147/sqft |
Source: MichRIC #25017902 Report a problem | ||
| 5/21/2025 | Price change | $120,000-14.3%$153/sqft |
Source: MichRIC #25017902 Report a problem | ||
| 5/13/2025 | Price change | $140,000-6.7%$179/sqft |
Source: MichRIC #25017902 Report a problem | ||
| 4/26/2025 | Listed for sale | $150,000$192/sqft |
Source: MichRIC #25017902 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $1,519 +5.7% | $43,700 +5% |
| 2024 | $1,437 | $41,600 -3% |
| 2023 | -- | $42,900 +21.9% |
| 2022 | -- | $35,200 +4.8% |
| 2021 | -- | $33,600 +24.4% |
| 2020 | -- | $27,000 +7.6% |
| 2019 | -- | $25,100 -10% |
| 2018 | -- | $27,900 -2.8% |
| 2017 | -- | $28,700 -16.8% |
| 2016 | -- | $34,500 +6.5% |
| 2015 | -- | $32,400 +9.1% |
| 2014 | -- | $29,700 -3.9% |
| 2013 | -- | $30,900 -6.6% |
| 2012 | -- | $33,100 -4.9% |
| 2011 | -- | $34,800 -7.4% |
| 2010 | -- | $37,600 |
Find assessor info on the county website
Neighborhood: 49656
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Nearby schools
GreatSchools rating
- 5/10Pine River Middle SchoolGrades: 4-7Distance: 5.5 mi
- 5/10Pine River High SchoolGrades: 8-12Distance: 5.5 mi
- 5/10Leroy Elementary SchoolGrades: PK-3Distance: 7.3 mi
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- Michigan
- Lake County
- Luther
- 49656
- 5495 N Karley Ct
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