Under Contract
509 Lake Street, Ludington, MI 49431
$434,900
MLS # 22003093 (Michigan Regional Information Center (MichRIC))
1.97 acres
1 / 16
Listing Description
Fantastic opportunity to own investment property overlooking PM Lake and possibly Lake MI. In the heart of the waterfront district of the City of Ludington, this parcel presents so many possibilities. Nestled near marinas, fishing boat charters, and the Boat Club, this is a great time to make your entrepreneurial dreams come true. Permitted uses are multi-family residences, many types of businesses, professional offices, museums, banks, and so much more. There is room to build condos or apartments. The property is in the Opportunity Zone, which could create tax incentives for an investor.
Source: SparkMLS
About this home
Listed at $434,900.
Estimated annual property tax: $2,774, or about $231 monthly. Tax figure is from the MLS listing record; verify with the county treasurer for the most current amount.
Fiber internet is available at this address with download speeds up to 7,000 Mbps across 10 providers. Electric service is provided by Consumers Energy Company; natural gas by DTE Gas Company.
Listing Property Details
Property TypeLand
Property SubtypeCommercial Land
Bathrooms0
Lot Size1.97 acres
Location
CityLudington
MunicipalityLudington
Zip Code49431
CountyMason
School DistrictLudington
Construction & Systems
UtilitiesNatural Gas Available, Electricity Available, Cable Available, None
Sale & Financing
Listed1/4/2024
Original Price$328,000
Terms AcceptedCash, Conventional, Land Contract
Source: SparkMLS
Tax Information
Annual Tax$2,774
Tax Year2020
Assessed Value$47,631
Parcel #53-051-590-040-01
Source: SparkMLS
Legal Description
see attached for legals for both parcels
Property Records
FEMA Flood Zone: Zone X — Minimal flood risk
Source: FEMA NFHLUSDA Rural Development: Eligible — 0% Down Payment Available
Verify eligibility at USDAListed by Mary Jo Pung
Greenridge Realty S Rath
Frequently Asked Questions about 509 Lake Street, Ludington, MI 49431
What school district is 509 Lake Street, Ludington, MI 49431 in?
Per MLS# 22003093, this property is served by Ludington. In Michigan, school district boundaries are set by the state and do not always follow city limits.
What type of financing is accepted for this listing?
Per MLS# 22003093, the seller has indicated this property accepts the following financing types: Cash, Conventional, Land Contract. Financing acceptance is subject to change — confirm with the listing agent.
How much are property taxes for this home?
Per MLS# 22003093, the most recent reported annual property tax for 509 Lake Street, Ludington, MI 49431 is $2,774 (2020). Michigan property taxes are based on a property's taxable value multiplied by the local millage rate. Primary residences qualify for a homestead exemption that lowers the rate.
Is 509 Lake Street, Ludington, MI 49431 eligible for USDA financing?
Per USDA boundary maps, this property is located in a USDA-eligible area, which means qualified buyers may be able to finance with 0% down through the USDA Rural Development program. Confirm current eligibility directly with USDA.
What is the FEMA flood zone designation for this property?
Per FEMA's National Flood Hazard Layer, 509 Lake Street, Ludington, MI 49431 is in flood zone X (minimal risk). Flood insurance is not typically required in this zone but may still be advisable. FEMA flood maps are updated periodically — verify the current designation at msc.fema.gov.
Is fiber internet available at 509 Lake Street, Ludington, MI 49431?
Per FCC broadband data, this property has access to fiber internet service. The maximum advertised download speed is 7.0 Gbps. 10 internet providers serve this address. Confirm availability and speeds directly with providers.
Who are the utility providers for this property?
Per Michigan Public Service Commission service territory data: Electric: Consumers Energy Company. Gas: DTE Gas Company. Confirm service details directly with providers.
How safe is this area?
For crime and public safety data, we recommend inquiring directly with the Ludington police department or the Mason County sheriff's office.
Map
BETAMulti-Year Tax History
View SEV, Taxable Value, and uncapping difference for this parcel — Lenawee County public records.
Mortgage Calculator
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Monthly payment$2,821
Principal & interest$2,821
Estimate only. Does not include PMI or other fees. Consult a lender for exact rates.
Internet
FiberDownload
7 Gbps
Upload
7 Gbps
FiberCableLicensed Fixed WirelessGSO SatelliteSatelliteFixed WirelessDSL
10 providers at this address
FCC Broadband Data Collection (Dec 2025). Max advertised speeds.
Utilities
Consumers Energy Company
Investor-Owned
DTE Gas Company
Investor-Owned
MI Public Service Commission service territory boundaries.
Property
509 Lake Street, Ludington, MI 49431
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Municipality
Ludington
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