# 509 Rose Street, Traverse City, MI 49686

> **TL;DR:** 2bd/2ba single family, $440,000 ($450/sqft), built 1896, 977 sqft.
> Basement. Est. $1,907/mo. Listed 1 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $440,000 |
| Price/sqft | $450 |
| Bedrooms | 2 |
| Bathrooms | 2 full |
| Square Feet | 977 |
| Year Built | 1896 |
| Lot Size | 2,178 sqft (0.05 acres) |
| Stories | 2 |
| Property Type | Single Family (Single Family Residence) |
| Status | For Sale |
| Days on Market | 1 |

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Mortgage (20% down, 6.5%) | $1,907 |
| **Total** | **$1,907** |

## Key Amenities

- Basement

## Property Highlights

- Built in 1896
- 0.05 acre lot
- 2 stories

## Description

### Agent 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.

## Location

- **Address:** 509 Rose Street, Traverse City, MI 49686
- **County:** Grand Traverse
- **Coordinates:** 44.758402, -85.600208
- **Google Maps:** https://www.google.com/maps?q=44.758402,-85.600208

## Listing Agent

- **Name:** Troy Daily
- **Brokerage:** REMAX Bayshore - Union St TC
- **Phone:** 2312887676
- **Email:** Troy@adventurehomestc.com

## Primary Photo

![509 Rose Street - Primary Photo](http://lh.rdcpix.com/a995f00e261e638a23274eb7ebfcc991l-f3086828722r.jpg)

*25 total photos available on [listing page](https://www.propertysimple.com/listing/509-rose-street-traverse-city-mi-49686-1946364)*

---

**MLS#:** 1946364 | **Updated:** 2026-06-18
**Source:** listhub

*Copyright © 2026 Northern Great Lakes Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.*

[View on PropertySimple](https://www.propertysimple.com/listing/509-rose-street-traverse-city-mi-49686-1946364)

---

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