This home's estimate is 13.8% higher than the average sale price ($155K) of 6 comparable homes.
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463 W State St, Cheboygan, MI 49721
About this home
Here's your chance to own a prime investment property in the heart of downtown Cheboygan. This property features three one-bedroom units, offering excellent rental potential. While some updates are needed, the current owner has had no trouble keeping the units rented, highlighting strong demand in the area. The property has a new boiler and an updated electric panel, adding to its appeal. Located just a short walk from Main Street, this property offers easy access to local shops and dining. Enjoy the beautiful Cheboygan River, City Beach, and the popular bike/snowmobile trail, all just steps away. With its ideal location and potential for upgrades, this property is a great investment opportunity in a sought-after area. Seller is licensed Realtor in the state of Michigan.

Redfin Estimate
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Market trends in 49721, MI
Last updated August 2026
Buyer's Market
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- NEW 2 HRS AGO
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Provided by Redfin
Sale history for 463 W State St
$93/sq ft
$106/sq ft
$110/sq ft
$106/sq ft
$10/sq ft
$10/sq ft
$10/sq ft
$10/sq ft

$15/sq ft
$20/sq ft
$18/sq ft
Tax history for 463 W State St
*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.
Public record
Property details
Interior
- Heating & Cooling
- Cooling: None
- Has Heating
- Heating: Baseboard, Hot Water, Natural Gas
- Interior Features
- Appliances: Refrigerator, Gas Oven, Gas Range
- Room Information
- Laundry Features: None
- Has Basement
- Basement Details: Full, Unfinished
Exterior
- Building Information
- Sq. Ft.: 1254.0
- Foundation Details: Stone
- Property Information
- Property Type: Residential Income
- Property Sub Type: Triplex
- Raw Mls Property Sub Type: Triplex
- Lot Information
- Road Surface Type: Paved
- Lot Size Dimensions: 92 x 68 x 70 x 72 x 44
Utilities
- Utility Information
- Sewer: Public Sewer
Location
- Schools Information
- Elementary School: Cheboygan
- High School District: Cheboygan Area
- High School: Cheboygan
- Location Information
- Directions: From Main Street, head west on State St, corner of State and Dresser St on left.
- Subdivision Name: T38N R1W
Public facts
- Beds: —
- Baths: —
- Sq. Ft.: —
- Stories: —
- Lot Size: 8,712 square feet
- Style: Single Family Residential
- Year Built: —
- Year Renovated: —
- County: Cheboygan County
- APN: 054-P39-005-003-00
Around this home
Schools
Public K-3 • Assigned • 0.8mi
Public 8-12 • Assigned • 1.3mi
Lifestyle
Provided by Walk Score and Local Logic
Climate risks
Minimal risk of a flood reaching the building in the next 30 years
Unlikely to be in a wildfire in next 30 years
7 days above 89° expected this year, 14 days in 30 years
Minimal risk of severe winds over next 30 years
0 unhealthy days expected this year, 0 days in 30 years
Sun exposure
In this area, properties receive around 9.1 hours in June and 2.1 hours in December, placing it below the U.S. average for solar exposure.
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Nearby similar homes
New listings for sale in 49721
Home values near 463 W State St
| Address | Redfin Estimate |
|---|---|
5 Beds | 3 Baths | 2324 Sq. Ft. | $194,557 |
3 Beds | 1 Baths | 1132 Sq. Ft. | $124,412 |
| Address | Redfin Estimate |
|---|---|
3 Beds | 1 Baths | 1211 Sq. Ft. | $132,766 |
2 Beds | 1 Baths | 1020 Sq. Ft. | $137,427 |
| Address | Redfin Estimate |
|---|---|
3 Beds | 1.5 Baths | 1584 Sq. Ft. | $97,804 |
3 Beds | 1.5 Baths | 1320 Sq. Ft. | $118,986 |
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