1305 W B Street Iron Mountain, MI 49801
MULTI_FAMILY - Conventional - Iron Mountain, MI
Property Features for 1305 W B Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 5
- Bathrooms
- 3
- Rooms
- Bedroom 5, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 3, Basement
- Parking features
- Garage
- Patio and Porch features
- Patio, Porch
- Interior features
- Cable/Internet Avail., Hardwood Floors, Walk-In Closet
- Exterior features
- Patio, Porch, Sidewalks, Exterior Balcony
- Appliances
- Dryer, Microwave, Range/Oven, Refrigerator, Washer
- Standard status
- Active
- Size
- 2,120 SF
- Lot size
- 0.38 Acres
Taxes and HOA fees
- Tax Annual Amount
- 2973
Utilities
- Heating system
- Hot Water(Heating)
- Water source
- Public
Building Details
- Year built
- 1924
- Floors in Building
- 2
- Number of units
- 2
- Architectural style
- Conventional
- Additional Structures
- Second Garage
Listing agent RYAN GORDON License #6502420131 (906) 282-1644
Listing office STEPHENS REAL ESTATE 1320 CARPENTER AVE., Iron Mountain, MI (906) 774-8570
Listing date Jul 8, 2025
Copyright © 2026 Upper Peninsula Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Key Highlights
- Duplex built in 1924 with two separate units plus basement storage
- First‑floor unit: 3 bedrooms, 1.5 baths, hardwood floors, and a back entry that could be used as office space
- Second‑floor unit: 2 bedrooms, 1 bath, walk‑in closets, and lots of natural light
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $21.6k | $10.20 |
| − Vacancy | −$1.4k | −$0.66 |
| EGI | $20.2k | $9.54 |
| − OpEx | −$6.1k | −$2.86 |
| NOI | $14.2k | $6.68 |
