See other homes in:
Primary listing photo
Listing photo 2
Listing photo 3
Listing photo 4
Listing photo 5

242 1st St, Copper Harbor, MI, 49918

3beds
2baths
3,378sqft
$849,000
$251price/sqft
$5,647/moest. monthly cost
$225,880/yrincome needed

About This Home

Charming Residential Property with Commercial Opportunity in Copper Harbor! Discover the perfect blend of cozy living and business opportunity in this beloved gift and memorabilia shop, nestled in the heart of Copper Harbor. This property has a warm and inviting atmosphere with some tongue and groove walls, some hardwood floors and flexible living and business spaces. Attached to the retail space, the living quarters offer a seamless yet private transition with a fenced-in porch/deck and yard area. The main floor features an open-concept living, kitchen, and dining area, along with a versatile den that could serve as a fourth bedroom. Upstairs, you'll find three comfortable bedrooms and a full bathroom, providing ample space for family living. Additionally, the property includes a workshop/storage building (792+/- square feet) in the side yard, perfect for hobbies or additional storage. Off-street parking is available for both residents and customers. If you don't need the living quarters for yourself, consider the potential for rental income (subject to buyer verification with township/county ordinances), an additional complementary business, or expanding the retail space. The property also comes equipped with a Generac generator (2021) for added convenience. Copper Harbor is a charming town that attracts many visitors with its bike and recreational trails, access to Isle Royale, and abundant natural beauty. This property offers a unique opportunity to enjoy a quaint residential lifestyle while continuing the long standing favorite store and possibly exploring additional commercial possibilities. --- NOTICE: All information believed accurate but not warranted. Buyer recommended to inspect & verify all aspects of the property & bears all risks for any inaccuracies including but not limited to estimated acreage, lot location/size, square footage, utilities (availability & costs associated). Real estate taxes are subject to change (possibly significant) & municipality reassessment after sale. Buyer should NOT assume that buyer’s tax bills will be similar to the seller’s current tax bills. Taxes are not zero. Audio/video recording devices may be present on property and entering the property shall be considered consent to be recorded. OFFERS: 72 hours response time requested on offers. Seller, at seller's sole discretion, with or without notice, reserves the right to set and/or modify offer submission & response deadlines. Heat/Cooling: Propane forced air is for the retail and main floor of living quarters. Electric Heat: 2nd story of living quarters. SHOWINGS BY APPOINTMENT ONLY: Please schedule showings to avoid distruption of business operations. Prequalified buyers only and non-disclosure agreement is required. Also listed as MLS 50187137

Getting Around

23
WalkingCar-Dependent
0
TransitVery Limited Transit
40
BikeSomewhat Bikeable

Schools

--
Grant Township SchoolGrades PK-80.2 mi

Construction

Condition

  • Year built: 1970

Materials

  • Construction materials: Wood Siding

Type & Style

  • Home type: SingleFamily
  • Architectural style: Traditional
  • Property subType: Single Family Residence

Interior

Appliances

  • Appliances included: Range/Oven,Refrigerator,Electric Water Heater

Basement

  • Basement: None,Crawl Space

Bathroom1

  • Level: Upper
  • Area: 70

Bathroom2

  • Level: Main
  • Area: 80

Bedroom1

  • Level: Upper
  • Area: 286

Bedroom2

  • Level: Upper
  • Area: 238

Bedroom3

  • Level: Upper
  • Area: 120

Bedrooms & Bathrooms

  • Bedrooms: 3
  • Bathrooms: 2
  • Full bathrooms: 2
  • Main level bathrooms: 1

Dining Room

  • Level: Main
  • Area: 170

Family Room

  • Level: Main
  • Area: 252

Features

  • Flooring: Hardwood
  • Finished area below ground: 0
  • Finished area above ground: 3,378

Heating & Cooling

  • Heating features: Electric,Forced Air,Propane
  • Cooling features: Central Air

Interior Area

  • Total structure area: 3,378
  • Total interior livable area: 3,378 sqft

Kitchen

  • Level: Main
  • Area: 100

Living Room

  • Level: Main
  • Area: 299

Property

Details

  • Parcel number: 31052002016
  • Zoning: RS-1 Resort Service District https:/ /www.keweenawcountyonline.org/docs /ZoningMap.pdf
  • Zoning description: Other
  • Special condition: Standard

Features

  • Levels: One and One Half
  • Stories: 1
  • Patio & porch: Deck,Porch
  • Waterfront features: None
  • Frontage type: Road
  • Frontage length: 200

Lot

  • Lot size: 0.27 Acres
  • Features: Corner Lot,Platted
  • Lot size dimensions: 200 x 60+/-

Parking

  • Total spaces: 3
  • Parking features: 3 or More Spaces

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

  • Winter Weather
    Winter WeatherVery High
  • Cold Wave
    Cold WaveModerate
  • Inland Flooding
    Inland FloodingModerate
  • Strong Wind
    Strong WindModerate
  • Tsunami
    TsunamiInsufficient Data

How This Home’s Risks Compare

Winter Weather
Cold Wave
Inland Flooding
Strong Wind
Tsunami

FEMA Declared Disasters in Keweenaw County and Michigan

Severe Ice Storm
Winter Storm

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

MonthlyAnnual
Mortgage $4,293$51,516
Home Insurance *$279$3,348
Property Taxes $707$8,484
Electricity $368$4,421
Total$5,647$67,764
*Does not include cost of any FAIR Plan premiums

Income You'd Need if You Spent...

35% on housing$193,611/yr
40% on housing$169,410/yr
45% on housing$150,586/yr

Michigan FAIR Plan Programs

Michigan Basic Property Insurance Association

Covered
WildfireWildfire
HailHail
WindWind
Visit Website →
Current Policies
Residential: 15,981Commercial: 293
Total Premiums$13.85M
Total Exposure$2.60B

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.

Insurance Growth Rate5-year average: 5.0%
5.0%
0%30.0%
Electricity Growth Rate10-year average: 3.9%
3.9%
0%15.0%
Property Taxes Growth Rate2-year average: -3.8%
-3.8%
0%15.0%
Income Spent on Housing
30%
30%45%

Comparing Against the Market

Price Per Sq Ft

$251This listing

vs Other Active Listings

Avg $/sqft

ZIP 49918
Keweenaw County$184

vs Homes Sold Last Month

Median $/sqft

ZIP 49918$222
Keweenaw County$53

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

DateEventPrice
2025-09-18Listed for sale$849,000

For Sale by Agent

AgentKRISTINE WEIDNER (JUKURI)
BrokerageCENTURY 21 AFFILIATED

Similar Homes