319 W Mitchell St, Petoskey, MI, 49770
About This Home
Located in the heart of Petoskey, this mixed-use property offers a rare investment opportunity just steps from downtown shopping, restaurants, waterfront parks, and McLaren Hospital. The property includes a duplex and 3 commercial spaces. The duplex has two 2-bedroom, 1-bath apartments with a year-round water view from the upper unit. Zoning allows the upper unit to be used as a vacation rental, which adds to the property’s versatility and potential. The Three commercial spaces provide excellent visibility and exposure along a high-traffic road, ideal for retail, office, or service-based businesses. With flexible zoning, strong income potential, and an unbeatable location in one of Northern Michigan’s most vibrant communities, this property is perfect for investors or owner-occupants looking to capitalize on Petoskey’s thriving downtown atmosphere.
Getting Around
Very Walkable
Very Limited Transit
BikeableSchools
Construction
Condition
- Year built: 1900
Type & Style
- Home type: MultiFamily
- Property subType: Other
Interior
Appliances
- Appliances included: Range,Refrigerator
Basement
- Has basement: Yes
- Basement: Partial
Bedrooms & Bathrooms
- Bedrooms: 4
- Bathrooms: 4
Heating
- Heating features: Natural Gas,Forced Air
Interior Area
- Total structure area: 3,850
- Total interior livable area: 3,850 sqft
Property
Lot
- Lot size: 7,350 sqft
- Lot size dimensions: 75 x 98
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
- Cold Wave
- Lightning
- Hail
- Inland Flooding
- Strong Wind
- Tornado
- Winter Weather
- Tsunami
How This Home’s Risks Compare
FEMA Declared Disasters in Emmet 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 | $1,845 | $22,140 |
| Home Insurance * | $201 | $2,412 |
| Property Taxes | $249 | $2,988 |
| Electricity | $419 | $5,039 |
| Total | $2,714 | $32,568 |
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)
No zestimate history available
Price History
| Date | Event | Price |
|---|---|---|
| 2025-05-02 | Listed for sale | $365,000 |
| 2025-05-02 | Listing removed | $375,000 |
| 2024-08-26 | Price change | $375,000 |
| 2024-06-01 | Listed for sale | $405,000 |
| 2023-06-01 | Listing removed | -- |
| 2023-01-18 | Listed for sale | $385,000 |
View on Zillow