Price Reduction
Address
509 Rose Street # Lot: 18, Traverse City, MI
Price
$ 389,000
Property Attributes
- ID#80069457
- TypeSingle Family
- Listing Status Active
- CountyGRAND TRAVERSE
- CityTraverse City
- AreaTraverse City
- Zip49686
- Style
- Year Built1896
- Price$ 389,000
- Bedrooms2
- Full Bathrooms2
- Half Bathrooms0
- Sqr Footage977
- Lot Size0.05 Acres
Data Source:
MiRealSource (MIRS)
Property Description
Rare opportunity to own a fully renovated, income-producing duplex in the heart of Traverse City, steps from downtown, fully furnished, and operating as a short-term rental since 2019. Both units are actively permitted and generating approximately $60,000 combined annually, with upside potential. Commercial zoning requires STR permits to remain active to preserve them both, making this a true turnkey investment with the infrastructure already in place. The lower unit offers 500 sq ft of thoughtfully designed living space with a 1 bedroom, 1 bath layout, fully equipped kitchen (stove/oven, dishwasher, microwave, refrigerator), king bed, and twin trundle beds sleeping up to 4 guests. The upper unit is 477 sq ft, also 1 bed/1 bath, with a kitchenette (no stove), queen bed, twin trundle beds, and the same modern mid-century aesthetic. Both units feature mini-split heating and cooling, flat-screen TVs, WiFi, and plush contemporary finishes throughout. The full renovation was completed in 2019. This property works two ways: run both units as short-term rentals for maximum cash flow, or house hack by living in one unit while offsetting your mortgage with the other. Peak season nightly rates regularly exceed $300 per unit, with strong shoulder-season performance as well. The permits are active, the units are furnished, and the guests are already coming. Full-service property manager in place for a true turn-key opportunity. Walking distance to downtown restaurants, breweries, and the waterfront. Near Potter's Bakery, Oakwood Proper, and Common Good Bakery.
| Price History | |
|---|---|
| 6/10/2026 | Listed $440,000 |
| 8/3/2026 | 5$420,000 |
| 8/26/2026 | 4$405,000 |
| 9/9/2026 | 2$399,000 |
| 9/22/2026 | 3$389,000 |
General Features
| Heating | Wall Heat |
|---|---|
| Possession | At Close |
| Water | Public Water |
| Appliances | Dishwasher,Microwave,Range/Oven,Refrigerator |
| Status | Active |
| Full Baths | 2 |
| Bathrooms | 2 |
| Year Built | 1896 |
| Subdivision | na |
| County | Grand Traverse |
| Class | RESIDENTIAL |
| Type | Single Family |
| Ownership | Private |
| Section | 11 |
| Associated Document Count | 2 |
| Status | Active |
| Zoning | Commercial,Multi-Family,Residential |
| Subdivision | MI |
| Sale/Rent | For Sale |
| Manufactured Y/N | No |
| ROOMS | Breakfast Nook/Room |
| Structure Style | 2 Story |
| Area | Traverse City (28021) |
| Primary City | Traverse City |
| Directions | On Rose St. near Eighth St.,right behind Potter's Bakery |
| City | Traverse City |
| School District | Traverse City Area Public School |
| Originating MLS | Aspire North REALTORS |
| Source MLS | MI Real Source |
| Financial Terms | Cash,Conventional |
| Legal Description | S 40 FT OF LOT 18 OAK HTS ADD |
| DOM | 104 |
| Postal Code | 49686 |
| Price Per Sq Ft Total AG | 398.16 |
| Public Remarks | Rare opportunity to own a fully renovated,income-producing duplex in the heart of Traverse City,steps from downtown,fully furnished |
Interior Features
| Basement | Outside Entrance,Stone |
|---|---|
| Bedroom 1 Level | Main |
| Kitchen Length | 6 |
| Living Room Length | 8 |
| Living Room Width | 12 |
| Kitchen Width | 10 |
| Beds | 2 |
| Fireplace? | No |
| Bedroom 1 Length | 10 |
| Bedroom 1 Width | 8 |
| Above Grade SqFt | 977 |
| Basement Y/N | No |
| Total SqFt Finished | 977 |
Exterior Features
| Exterior | Vinyl Siding |
|---|---|
| Exterior Amenities | Sidewalks |
| Lot Size Area | 0.05 |
| Lot Dimensions | 40x50 |
| Water Features | None |
| SEWER/SEPTIC | Community |
| Waterfront Y/N | No |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Single Family Average in 49686
Price
Year Built
Visits
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© 2026 Florida Gulf Coast MLS (FGCMLS) Information deemed reliable, but not guaranteed. The IDX data relating to real estate for sale on this web site comes in part from the Florida Gulf Coast Multiple Listing Service. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
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