About This Home

This 3-bedroom, 2-bathroom single family at 6243 Lake Grove Road in Petoskey, MI is listed for $499,000 ($368 per sqft). the home offers 1,355 sqft of living space on a 2.00 acres lot.

Key Features

  • 2.00 acre lot
  • 2 stories

Property Details

2 stories
2 full
2-car garage
Listing Description

Charming Walloon Peninsula Fixer-Upper with Protected Privacy & Seasonal Lake Views! 3 BR / 2 BA | 1,355 SQ FT | Two-Story | 2-Car Detached Garage Nestled into the serene hillside of a rolling and heavily wooded lot on the coveted southern point of the Walloon Peninsula, this two-story home offers an unparalleled opportunity to create your dream Northern Michigan retreat.

Located directly across the street from Walloon Lake, you'll enjoy a private, tree-lined sanctuary that opens up to beautiful seasonal lake views as the autumn and winter months roll in. Privacy here is unmatched-your rolling, heavily forested property directly abuts 260 pristine acres of Resort Township and protected conservancy land, ensuring your majestic wooded backdrop remains beautifully wild, private, and permanently untouched.

The home itself boasts excellent, solid bones and a fantastic structural layout, providing the perfect canvas for a custom renovation. Inside, you'll find 1,355 square feet of living space featuring 3 bedrooms and 2 bathrooms, complemented by a spacious 2-car detached garage with plenty of room for your boat, water toys, and storage.

The property requires extensive updating and restoration throughout, making it an ideal investment project or an incredible opportunity to build significant equity in a highly desirable, premium neighborhood. Due to the extent of updates required, this property will not qualify for conventional financing.

Sold strictly as-is. Cash or portfolio loans only. Don't miss out on the rare chance to own a piece of the Walloon Peninsula, backed by hundreds of acres of protected nature, at an incredibly accessible price point. Schedule your showing today and unlock this property's true potential!

Monthly Cost Estimate

$2,669/mo

20% down · 6.5% · 30 years

Principal$361
Interest$2,162
Insurance$146

Estimates only. Actual payments may vary.

Location

6243 Lake Grove Road

Petoskey, MI 49770

Property Details

Construction

Wood Frame/Site Built Two Story +

Heating

WoodBaseboardElectric (Heating)

Questions & Answers

This 3-bedroom, 2-bathroom single family at 6243 Lake Grove Road is listed at $499,000 ($368/sqft). The estimated monthly payment is $2,669 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.

Key features include: 2.00 acre lot, 2 stories.

This property is listed by Jeff Patton.

JP

Jeff Patton

Agent at Coldwell Banker Schmidt

Listed by Coldwell Banker Schmidt · Broker phone: (231) 838-5263 · View on Broker Site

MLS# 479632· Source: Northern Michigan MLS· 1 day on PropertySimple

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

6243 Lake Grove Road, Petoskey, MI 49770

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