$1,449,000
4 beds 2 baths 2,160 sq. ft.
47.464897905 -87.88510098
FOR SALE

505 Second Street Copper Harbor, MI 49918

$1,449,000
Est. Monthly $7,368 recalculate
4 beds 2 baths 2,160 sf
 

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CENTURY 21 North Country Agency
1100 Century Way, Suite C
Houghton, MI 49931
906.­482.0001 View Agents
906.­482.0001
1100 Century Way, Suite C Houghton, MI 49931
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505 Second Street
Copper Harbor, MI 49918

Explore This Property

Single Family Detached - LIVE WORK AND PLAY -- LAKE FANNY HOOE - COPPER HARBOR, MICHIGAN A destination place where you can enjoy living on Lake Fanny Hooe, a very enjoyable and warmer inland lake; be close to Lake Superior and so many recreational activities. Beautiful setting with woods, grassy yard and beach. The current owners are looking to retire and relocate which means this is a fantastic opportunity for your career change AND make an investment in your future. The campground and resort business has an 11% Cap Rate for the last two seasons (2015 and 2016) and has only been operating for approximately 4 months per season. It could operate for even more months during the year for more return on your investment. The residence includes a 4 bedroom, 2 bath home and has a very nice floor plan with 3 bedrooms on the main floor and 1 master suite upstairs with bedroom and bathroom all overlooking the lake. This home and setting includes a well-maintained, turn-key, ALL season resort with approximately 532 +/- feet of water frontage on the warm inland lake with sandy beach for great swimming and has a Trout stream running through the 11+/- acres. Also included are a 14 unit motel, 3 cabins, 1 apartment, 64 seasonal campground sites, gift shop/camp store, boat rentals, propane refill station, laundromat, clubhouse, sauna, garage, outbuildings, playground, docks, grills, picnic tables, and fire pits. Home and resort are located with direct access to ATV, snowmobile, hiking, biking, and cross country ski trails. Many repeat guests add to the success of this resort and campground that is just down the road from Copper Harbor's shops, restaurants, and attractions. Business has an established website to attract new customers, www.fannyhooe.com. Sellers are willing to share their successful secrets for a training period after closing. Also listed as commercial property under MLS# 1100685. Prequalification/Letter of Reference and confidentiality agreement required prior to viewing the property and additional information. Thank you for understanding that showings/tours are only available during the operating months from opening in May through closing in October.
MLS # 1100686
Listed By CENTURY 21 North Country Agency
1100 Century Way, Suite C, Houghton, MI 49931

Property Features

  • Cooling: Other A/C
  • Exterior Description: Wood Siding
  • Heating Type: Other
  • Location: Waterfront
  • Lot Size: 11.22 Acres
  • Roof: Asphalt Shingle Roof
  • Style: Traditional
  • Views: Water

  • Purchase or Lease Opportunities

    Traditional Mortgage
    30 year mortgage at 4.75% APR
    $7,368Your estimated monthly payment
    $289,80020% Down Payment
    $1,449,000 $1,304,100
    purchase price loan amount
    Explore Mortgage Options
    Program Details
    *Neither Century 21 Real Estate LLC nor any of its franchisees or other affiliated companies provides, or is in any way responsible, for any product or service offered by Home Partners of America.

  • Elementary School
    C.L.K. ELEMENTARY SCHOOL
    Grades K-5 | Public School

    CALUMET, MI 49913
    57070 MINE ST
    906-337-0311
    30.2
    miles

    Total Students 635
    Student Teacher Ratio 18:1

    School Rating

    3 stars View School Details
    Middle School
    WASHINGTON MIDDLE SCHOOL
    Grades 6-8 | Public School

    CALUMET, MI 49913
    57070 MINE ST
    906-337-0311
    30.2
    miles

    Total Students 320
    Student Teacher Ratio 16:1

    School Rating

    4 stars View School Details
    High School
    CALUMET HIGH SCHOOL
    Grades 9-12 | Public School

    CALUMET, MI 49913
    57070 MINE ST
    906-337-0311
    30.2
    miles

    Total Students 406
    Student Teacher Ratio 17:1

    School Rating

    4 stars View School Details
    CHS-HORIZONS SCHOOL
    Grades 9-12 | Public School

    MOHAWK, MI 49950
    110 STANTON AVE
    906-337-4611
    25.1
    miles

    Total Students 46
    Student Teacher Ratio 13:1

    School Rating

    1 star View School Details
    Other Nearby Schools Distance Type Grades School Rating Parent Rating
    Grant Township School 0.3 mi Public PRESCHOOL-8

    Local Area Information for Copper Harbor, MI 49918

    Median Age: 65.4
    Married: 55.8%
    Number of Households: 47
    Households with Children: 2
    • Occupancy Types
      • 0 Vacant
      • 0 Owned
      • 0 Rented
    • Transportation to Work
      • 0 Drive
      • 0 Public Transportation
      • 0 Walk / Bike / Other
      • 0 Work at Home
    (in Degrees Fahrenheit)
      Visit Area Info Page

      Community information and market data Powered by Onboard Informatics. Copyright ©2016 Onboard Informatics. Information is deemed reliable but not guaranteed. * Based on a 30-year fixed rate of 4.75% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
      Sources: Maponics, LLC and Onboard Informatics ©2016. School Performance data by SchoolDigger.com. School Review data by Niche.com. This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.