For Sale
55 S Hope Ridge, Traverse City, MI 49696
$3,500,000
MLS # 1944464 (Northern Great Lakes REALTORS® MLS)
Built 198940.39 acres
1 / 87
Listing Description
Just 8 minutes from downtown Traverse City, this exceptional 40-acre property offers endless potential. With 8 homes totaling over 16,000 square feet and 4 large barns, it’s ideal for a variety of ventures—think destination wedding venue, retreat center, boutique resort, private school, or family compound. Capacity to hold over 80 guests! The blend of open fields, wooded privacy, and close proximity to town creates a one-of-a-kind setting for residential, commercial, or creative redevelopment opportunities.
Source: SparkMLS
About this home
This 11-bath home built in 1989 sits in Traverse City.
Asking $3,500,000.
Electric service is provided by Cherryland Electric Cooperative; natural gas by DTE Gas Company.
Listing Property Details
Property TypeMulti Family
Bathrooms11
Lot Size40.39 acres
Year Built1989
Location
CityTraverse City
Zip Code49696
CountyGrand Traverse County
Construction & Systems
BasementCrawl Space
HeatingForced Air
WaterWell
Sale & Financing
Listed4/29/2026
Terms AcceptedCash, Conventional
Source: SparkMLS
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 Matthew J Dakoske
REMAX Bayshore - Union St TC
Frequently Asked Questions about 55 S Hope Ridge, Traverse City, MI 49696
Can I use FHA or VA financing for this property?
Per MLS# 1944464, this listing accepts Cash, Conventional financing. Financing acceptance is subject to change — confirm with the listing agent.
Can I use a USDA Rural Development loan for this property?
Per USDA Rural Development boundary data, 55 S Hope Ridge, Traverse City, MI 49696 is in an eligible area. USDA RD loans offer 0% down payment for qualified buyers. Verify current eligibility at the USDA eligibility site, as boundaries are updated periodically.
Is 55 S Hope Ridge, Traverse City, MI 49696 in a flood zone?
Per FEMA flood maps, this property is designated as Zone X, a minimal-risk flood area. 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.
What utilities serve 55 S Hope Ridge, Traverse City, MI 49696?
Per Michigan Public Service Commission service territory data: Electric: Cherryland Electric Cooperative. Gas: DTE Gas Company. Water: Well. Confirm service details directly with providers.
What is the crime rate in this area?
For crime and public safety data, we recommend inquiring directly with the local police department or county sheriff's office.
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Monthly payment$22,701
Principal & interest$22,701
Estimate only. Does not include PMI or other fees. Consult a lender for exact rates.
Utilities
Cherryland Electric Cooperative
Co-op
DTE Gas Company
Investor-Owned
MI Public Service Commission service territory boundaries.
Property
55 S Hope Ridge, Traverse City, MI 49696
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