121 S Canal Street, Lake City, MI 49651
121 S Canal Street, Lake City, MI 49651
121 S Canal Street, Lake City, MI 49651
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$60,000
Est. payment /mo
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3 Beds
1 Bath
1,247 SqFt
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121 S Canal Street Lake City, MI 49651

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Melissa Long

Melissa Long

+1(989) 980-7446

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Key Details

Property Type Single Family Home

Sub Type Single Family

Listing Status Active

Purchase Type For Sale

Square Footage 1,247 sqft

Price per Sqft $48

MLS Listing ID 80067463

Style 2 Story

Bedrooms 3

Full Baths 1

Abv Grd Liv Area 1,247

Year Built 1925

Lot Size 3,484 Sqft

Acres 0.08

Lot Dimensions 50 x 70

Property Sub-Type Single Family

Property Description

High-Upside Investment Opportunity in Prime Lake City Location! Attention investors and flippers—this 3-bedroom, 1-bath property offers a rare chance to capitalize on a low purchase price with strong ARV potential in a highly desirable, walkable location. Situated on a 50x70 lot, the property features a fenced-in backyard and a small attached garage currently used for storage, with potential to be converted back to garage space. The home also includes a basement primarily suited for mechanicals and storage. This is a full rehab project requiring significant TLC inside and out, making it ideal for experienced investors looking to unlock value. The home offers a functional layout with all three bedrooms located upstairs, each featuring closet space, while the main floor includes the living room, bathroom, eat-in kitchen, and sun porch—providing a solid foundation. One nice feature is the covered, enclosed porch with French doors leading into the living room—a unique element that can be transformed into a bright, inviting entry or additional living space, enhancing both charm and usable square footage. Inside, the property retains original turn-of-the-century character ready to be restored. This property has also demonstrated strong rental income potential for many years under the original owner, adding confidence for investors considering a buy-and-hold strategy. Located within walking distance to schools, businesses, and dining, the location supports both resale value and continued rental demand. Investor highlights: Low entry price = strong margin opportunity High ARV potential after renovation Proven rental history Full rehab = maximize forced appreciation Walkable to schools, post office, shopping & dining Convertible garage adds flexibility and value Sun front porch add usable space Historic charm enhances finished product appeal Bring your contractor and your vision—this is a prime value-add opportunity with serious upside.

Location

State MI

County Missaukee

Area Lake City (57017)

Zoning Residential

Rooms

Basement Block, Full, Interior Access, Unfinished

Interior

Hot Water Gas

Heating Forced Air

Exterior

Parking Features Attached Garage

Garage Spaces 1.0

Garage Description 16 x 14

Garage Yes

Building

Story 2 Story

Water Public Water

Architectural Style Victorian

Structure Type Vinyl Siding

Schools

School District Lake City Area School District

Others

Ownership Private

Energy Description Natural Gas

Financing Cash

MiRealSource (MI RealSource (Lenawee /Saginaw/SE-Border/Gr Shiawassee/Upper Peninsula)
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by City2Shore Real Estate Northern Michigan

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Melissa Long

Melissa Long

Agent

+1(989) 980-7446

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121 S Canal Street