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5 Beds
2 Baths
2,461 sqft

$399,900

431 Madison St, Petoskey MI, 49770

Price per sqft$162.49
Built in1950
Property size2,461 sqft
Property typeResidential

Overview

Active

Listed Jan 3, 2026

Updated 4 weeks ago

Located in the heart of Petoskey, this versatile in-town home offers an exceptional location directly across the street from McLaren Northern Michigan Hospital and just a short distance from downtown Petoskey’s shopping, restaurants, and the scenic Bear River Walkway. Currently utilized as a two-unit rental, the property provides numerous possibilities—continue its income-producing use, or easily convert it back to a single-family residence with the added bonus of separate living quarters above the garage. The home has seen many recent improvements, including a new roof on the main house approximately five years ago, brand-new windows throughout the main house, and a newly rebuilt front porch that adds to its curb appeal. Above the garage, a newly renovated one-bedroom, one-bath apartment offers excellent flexibility, whether used as a rental for additional income or as comfortable guest accommodations. With its prime location, recent updates, and flexible layout, this property presents a rare opportunity to own a home that can adapt to a variety of living or investment needs in one of Petoskey’s most convenient neighborhoods.

$2,661/mo

Est. mortgage payment based on a $399,900 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
478568

Interior Features

Bedrooms
5
Bathrooms
2
Heating
Yes
Basement
No

Other Property Details

Garage
Yes

Listed by Clinton Shuman with Real Estate One
Listing Contact: [email protected] 

Based on information from Northern Michigan MLS. Data last updated 9/11/2026. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Crain Homes shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

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