3551 W Otsego Lake Dr, Gaylord, MI, 49735
About This Home
Endless possibilities for this unique, multifamily property on Otsego Lake! 4 cottages with excellent short- and long-term rental history, 150' of beautiful, sandy Otsego Lake frontage and 2.4 acres of prime property. Only a handful of lots this size still exist on Otsego Lake. Two cottages were built in 2015, Two renovated. Shared 20x20 garage for storage, private water system, newer pump-back septic system upgraded in 2015. The lot size gives you the option of adding additional cottages or a larger residence. There is also room for a large outbuilding, which could be divided for separate storage. Great return on investment as-is, or expand for even higher potential. Schedule showings through MLS# 201839826.
Getting Around
Car-Dependent
Very Limited Transit
Somewhat BikeableSchools
Construction
Materials
- Foundation: Crawl
Type & Style
- Home type: SingleFamily
- Architectural style: Cabin
- Property subType: Single Family Residence
Interior
Appliances
- Appliances included: Range/Oven,Refrigerator,Microwave,Dishwasher
- Laundry features: None
Bedrooms & Bathrooms
- Bedrooms: 7
- Bathrooms: 4
- Full bathrooms: 4
Features
- Vaulted Ceiling(s)
- Door features: Doorwall
- Flooring: Laminate
- Finished area above ground: 3,169
Heating
- Heating features: Forced Air,Natural Gas
Interior Area
- Total structure area: 3,169
- Total interior livable area: 3,169 sqft
Property
Details
- Parcel number: 01002040010000
- Zoning: RR
Features
- Patio & porch: Deck
- Exterior features: Sprinkler System
- On waterfront: Yes
- Waterbody name: Otsego Lake
- Frontage type: All-Sport
Lot
- Lot size: 2.40 Acres
- Lot size dimensions: 2.4 acres
Parking
- Parking features: Garage
- Has garage: Yes
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Lightning
- Cold Wave
- Hail
- Strong Wind
- Tornado
How This Home’s Risks Compare
FEMA Declared Disasters in Otsego County and Michigan
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $4,525 | $54,300 |
| Home Insurance * | $451 | $5,412 |
| Property Taxes | $1,196 | $14,352 |
| Electricity | $345 | $4,147 |
| Total | $6,517 | $78,204 |
Income You'd Need if You Spent...
Michigan FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-05-04 | Listed for sale | $895,000 |
| 2026-02-04 | Listing removed | $995,000 |
| 2025-08-15 | Listed for sale | $995,000 |
| 2025-08-14 | Listing removed | $1,200,000 |
| 2024-08-15 | Listed for sale | $1,200,000 |
| 2024-08-10 | Listing removed | -- |
| 2024-06-25 | Price change | $1,200,000 |
| 2023-08-10 | Listed for sale | $1,300,000 |
| 2021-04-21 | Sold | $320,000 |
| 2015-06-01 | Sold | $320,000 |
| 2014-07-31 | Price change | $369,900 |
| 2014-04-29 | Listed for sale | $389,000 |
| 2013-10-21 | Listing removed | $389,900 |
| 2013-05-22 | Price change | $389,900 |
| 2013-05-19 | Listed for sale | $379,900 |
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