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3515 Jefferson Ave, Traverse City, MI, 49684

5beds
4baths
5,724sqft
$3,000,000
$524price/sqft
$18,409/moest. monthly cost
$736,360/yrincome needed

About This Home

Set high atop Jefferson Hill with commanding, panoramic views of Grand Traverse Bay, Hillcrest is among the most iconic and storied residences in Northern Michigan. Prominently positioned in Traverse City’s historic Slabtown neighborhood, this extraordinary estate has long been admired for its striking presence and enduring place in the community’s landscape. Originally constructed in 1880 for prominent attorney Edwin S. Pratt, the home is a remarkable example of 19th-century craftsmanship, thoughtfully preserved and updated for modern living. Encompassing approximately 5,700 square feet, the residence offers 6 bedrooms, 4 baths, including an apartment with its own private entrance - perfect for guests, extended family, or income potential. Inside, the home reveals an elegant balance of historic character and livability. Expansive, sun-drenched rooms are complemented by soaring ceilings, rich woodwork, and original architectural details that reflect a bygone era of quality and design. Generous living and entertaining spaces provide both warmth and grandeur, while large windows frame stunning views of the bay and surrounding landscape. Set on more than 10 acres along Jefferson Avenue, the grounds are as captivating as the residence itself. The elevated setting offers unmatched privacy and a peaceful sense of retreat, just minutes from downtown Traverse City. A private pond, Kid’s Creek, and mature trees create a serene, park-like environment. Additional features include a three-car garage and a substantial pole barn. The expansive acreage offers both privacy and flexibility, with the option to maintain the full estate or consider future division. Hillcrest is more than a home - it is a legacy property. Rarely does an opportunity arise to own a property of such significance, scale, and setting. This is a once-in-a-generation offering.

Getting Around

47
WalkingCar-Dependent
0
TransitVery Limited Transit
65
BikeBikeable

Schools

7/10
8/10
West Middle SchoolGrades 6-81.5 mi
8/10
West Senior HighGrades 9-122.3 mi

Construction

Condition

  • Year built: 1879

Materials

  • Roof: Metal
  • Construction materials: Frame,Stone,Wood Siding

Notable Dates

  • Major remodel year: 2001

Type & Style

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

Interior

Appliances

  • Appliances included: Refrigerator,Oven/Range,Disposal,Dishwasher,Microwave,Washer,Dryer,Freezer,Oven,Exhaust Fan,Gas Water Heater
  • Laundry features: Main Level

Basement

  • Has basement: Yes
  • Basement: Full,Daylight

Bedroom2

  • Level: Upper
  • Area: 196

Bedroom3

  • Level: Upper
  • Area: 218.79

Bedroom4

  • Level: Upper
  • Area: 211.95

Bedrooms & Bathrooms

  • Bedrooms: 5
  • Bathrooms: 4
  • Full bathrooms: 2
  • 3/4 bathrooms: 2
  • Main level bathrooms: 2
  • Main level bedrooms: 1

Dining Room

  • Level: Main
  • Area: 142.034

Family Room

  • Level: Main
  • Area: 381.81

Features

  • Bookcases,Entrance Foyer,Walk-In Closet(s),Pantry,Breakfast Nook,Granite Counters,Solid Surface Counters,Mud Room,Den/Study,Ceiling Fan(s),Cable TV,High Speed Internet,WiFi
  • Window features: Bay Window(s),Blinds,Drapes,Curtain Rods
  • Flooring: Wood,Tile,Carpet
  • Fireplace features: Gas
  • Fireplace: Yes
  • Finished area below ground: 0
  • Finished area above ground: 5,724

Heating & Cooling

  • Heating features: Hot Water,Baseboard,Natural Gas,Fireplace(s)
  • Cooling features: Window A/C Unit(s)

Interior Area

  • Total structure area: 5,724
  • Total interior livable area: 5,724 sqft

Kitchen

  • Level: Main
  • Area: 251.729

Living Room

  • Level: Main
  • Area: 192.549

Master Bathroom

  • Features: Private

Master Bedroom

  • Level: Main
  • Area: 315.15

Property

Accessibility

  • Accessibility features: None

Details

  • Parcel number: 280531500100
  • Zoning description: Residential,Multi-Family,Commercial,Outbuildings Allowed

Features

  • Levels: 2+ Story
  • Stories: 2
  • Patio & porch: Deck,Multi-Level Decking,Patio,Covered,Porch
  • Exterior features: Sprinkler System,Sidewalk,Rain Gutters
  • Has view: Yes
  • View description: Bay
  • Has water view: Yes
  • Water view: Bay
  • Waterfront features: Creek,Pond

Lot

  • Lot size: 10.74 Acres
  • Features: Wooded,Rolling Slope,Landscaped
  • Lot size dimensions: 763 x 594 x 916 x 482

Parking

  • Total spaces: 5
  • Parking features: Detached,Garage Door Opener,Paved,Concrete Floors,Asphalt,Concrete,Gravel
  • Has garage: Yes
  • Attached garage spaces: 5
  • Has uncovered spaces: 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

  • Cold Wave
    Cold WaveVery High
  • Winter Weather
    Winter WeatherVery High
  • Lightning
    LightningModerate
  • Strong Wind
    Strong WindModerate
  • Tsunami
    TsunamiInsufficient Data

How This Home’s Risks Compare

Cold Wave
Winter Weather
Lightning
Strong Wind
Tsunami

FEMA Declared Disasters in Grand Traverse 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 $15,169$182,028
Home Insurance *$835$10,020
Property Taxes $1,781$21,372
Electricity $624$7,492
Total$18,409$220,908
*Does not include cost of any FAIR Plan premiums

Income You'd Need if You Spent...

35% on housing$631,165/yr
40% on housing$552,270/yr
45% on housing$490,906/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: 2.8%
2.8%
0%30.0%
Electricity Growth Rate10-year average: 3.9%
3.9%
0%15.0%
Property Taxes Growth Rate2-year average: 0.7%
0.7%
0%15.0%
Income Spent on Housing
30%
30%45%

Comparing Against the Market

Price Per Sq Ft

$524This listing

vs Other Active Listings

Avg $/sqft

ZIP 49684$341
Grand Traverse County$304

vs Homes Sold Last Month

Median $/sqft

ZIP 49684$285
Grand Traverse County$238

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
2026-05-03Listed for sale$3,850,000

For Sale by Agent

AgentJennifer Gaston
BrokerageREMAX Bayshore - Union St TC

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