# 509 Rose Street, Traverse City, MI 49686 > **TL;DR:** 2bd/2ba multi-family, $369,000 ($378/sqft), built 1896, 977 sqft. Est. $1,974/mo. Listed 142 days. ## Property at a Glance | Attribute | Value | |-----------|-------| | Price | $369,000 | | Price/sqft | $378 | | Bedrooms | 2 | | Bathrooms | 2 | | Square Feet | 977 | | Year Built | 1896 | | Lot Size | 2,178 sqft (0.05 acres) | | Stories | 2 | | Property Type | Multi-Family (Duplex) | | Status | Active Under Contract | | Days on Market | 142 | ## Estimated Monthly Costs | Category | Amount | |----------|--------| | Principal & Interest (20% down, 30-year at 6.5%) | $1,866 | | Estimated Insurance | $108 | | **Total** | **$1,974** | ## 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:** Re/max Bayshore Properties - **Broker Phone:** (231) 941-5600 - **Listing URL:** [View original listing](https://www.realtor.com/realestateandhomes-detail/509-Rose-St_Traverse-City_MI_49686_M47854-21733?f=listhub&s=TAAR&m=1946364&c=propsimple) ## Photos ![509 Rose Street - Photo 1](http://lh.rdcpix.com/cc9adfdced1ee2c0c9ffd89f71ce4a0cl-f3086828722r.jpg) ![509 Rose Street - Photo 2](http://lh.rdcpix.com/cc9adfdced1ee2c0c9ffd89f71ce4a0cl-f622536692r.jpg) ![509 Rose Street - Photo 3](http://lh.rdcpix.com/cc9adfdced1ee2c0c9ffd89f71ce4a0cl-f3113571155r.jpg) ![509 Rose Street - Photo 4](http://lh.rdcpix.com/cc9adfdced1ee2c0c9ffd89f71ce4a0cl-f2231008324r.jpg) ![509 Rose Street - Photo 5](http://lh.rdcpix.com/cc9adfdced1ee2c0c9ffd89f71ce4a0cl-f3228051066r.jpg) ![509 Rose Street - Photo 6](http://lh.rdcpix.com/cc9adfdced1ee2c0c9ffd89f71ce4a0cl-f4290287987r.jpg) ![509 Rose Street - Photo 7](http://lh.rdcpix.com/cc9adfdced1ee2c0c9ffd89f71ce4a0cl-f2775514419r.jpg) ![509 Rose Street - Photo 8](http://lh.rdcpix.com/cc9adfdced1ee2c0c9ffd89f71ce4a0cl-f545538376r.jpg) ![509 Rose Street - Photo 9](http://lh.rdcpix.com/cc9adfdced1ee2c0c9ffd89f71ce4a0cl-f3259706463r.jpg) ![509 Rose Street - Photo 10](http://lh.rdcpix.com/cc9adfdced1ee2c0c9ffd89f71ce4a0cl-f2795528056r.jpg) ![509 Rose Street - Photo 11](http://lh.rdcpix.com/cc9adfdced1ee2c0c9ffd89f71ce4a0cl-f2330118401r.jpg) ![509 Rose Street - Photo 12](http://lh.rdcpix.com/cc9adfdced1ee2c0c9ffd89f71ce4a0cl-f4012277586r.jpg) ![509 Rose Street - Photo 13](http://lh.rdcpix.com/cc9adfdced1ee2c0c9ffd89f71ce4a0cl-f3608794526r.jpg) ![509 Rose Street - Photo 14](http://lh.rdcpix.com/cc9adfdced1ee2c0c9ffd89f71ce4a0cl-f2587638588r.jpg) ![509 Rose Street - Photo 15](http://lh.rdcpix.com/cc9adfdced1ee2c0c9ffd89f71ce4a0cl-f533523422r.jpg) ![509 Rose Street - Photo 16](http://lh.rdcpix.com/cc9adfdced1ee2c0c9ffd89f71ce4a0cl-f3111633361r.jpg) ![509 Rose Street - Photo 17](http://lh.rdcpix.com/cc9adfdced1ee2c0c9ffd89f71ce4a0cl-f1495927803r.jpg) ![509 Rose Street - Photo 18](http://lh.rdcpix.com/cc9adfdced1ee2c0c9ffd89f71ce4a0cl-f320155584r.jpg) ![509 Rose Street - Photo 19](http://lh.rdcpix.com/cc9adfdced1ee2c0c9ffd89f71ce4a0cl-f2872712703r.jpg) ![509 Rose Street - Photo 20](http://lh.rdcpix.com/cc9adfdced1ee2c0c9ffd89f71ce4a0cl-f2546713231r.jpg) ![509 Rose Street - Photo 21](http://lh.rdcpix.com/cc9adfdced1ee2c0c9ffd89f71ce4a0cl-f3464754722r.jpg) ![509 Rose Street - Photo 22](http://lh.rdcpix.com/cc9adfdced1ee2c0c9ffd89f71ce4a0cl-f815917074r.jpg) ![509 Rose Street - Photo 23](http://lh.rdcpix.com/cc9adfdced1ee2c0c9ffd89f71ce4a0cl-f2457015018r.jpg) ![509 Rose Street - Photo 24](http://lh.rdcpix.com/cc9adfdced1ee2c0c9ffd89f71ce4a0cl-f3016142156r.jpg) ![509 Rose Street - Photo 25](http://lh.rdcpix.com/cc9adfdced1ee2c0c9ffd89f71ce4a0cl-f2395903841r.jpg) --- **MLS#:** 1946364 | **Updated:** 2026-10-27 **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.ai/listing/509-rose-street-traverse-city-mi-49686-29bdb47a5d8f46efbbc3bd92a8fcda1c) --- ## Structured Data ```json { "@context": "https://schema.org", "@type": "RealEstateListing", "@id": "https://www.propertysimple.ai/listing/509-rose-street-traverse-city-mi-49686-29bdb47a5d8f46efbbc3bd92a8fcda1c#listing", "url": "https://www.propertysimple.ai/listing/509-rose-street-traverse-city-mi-49686-29bdb47a5d8f46efbbc3bd92a8fcda1c", "name": "509 Rose Street, Traverse City, MI 49686", "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. 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