Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    309 W Montezuma Ave Houghton, MI 49931

    Sponsored
    For Sale
    $275,000

    2 Story, Duplex - Houghton, MI

    Type:Duplex
    Property size:
    2,624 SF
    Lot size:
    0.23 Acres
    Days on Market:
    2
    Last Refresh:
    Feb 24 at 9:06 pm

    Property Features for 309 W Montezuma Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Standard status
    Active
    Zoning
    Multi-Family
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Kitchen
    Bedrooms
    6
    Bathrooms
    2
    APN
    31-052-263-004-00
    Patio and Porch features
    Porch
    Interior features
    Cable/Internet Avail.
    Exterior features
    Porch
    Fireplace
    1
    Basement Y/N
    1
    Appliances
    Dishwasher, Dryer, Garbage Disposer, Range, Refrigerator, Washer
    Size
    2,624 SF
    Lot size
    0.23 Acres

    Utilities

    Utilities
    Cable Available
    Heating system
    Fireplace(s), Hot Water (Heating)

    Building Details

    Year built
    1918
    Floors in Building
    2
    Number of units
    2
    Building materials
    Cedar
    Architectural style
    Other

    We can help!

    Listing Contact
    GRETCHEN JANSSEN
    GRETCHEN JANSSEN

    Douglass Real Estate, Inc DBA RE/MAX Douglass Real Estate (906) 482-1000

    Listing agent GRETCHEN JANSSEN (906) 482-1000

    Listing date Feb 23, 2026

    MLS# 50200046 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Houghton Duplex with Landmark Views

    This property is an up and down duplex that could also be rented as a whole house or used as a single-family home once the leases expire in the spring of 2027. Each floor has 3 bedrooms, a full bath, an eat-in kitchen, and laundry. The lower unit features a living and family room with a fireplace. The property is situated on a double, corner lot on a main thoroughfare. It offers a view of the Quincy Mine and Portage Lift Bridge. The property is located in Houghton, MI. The property size is 2624 square feet and the lot size is 0.23 acres. The zoning is multi-family. The property can be used as an investment property. The current rent is $900 per month per duplex side, totaling $1800 per month.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Houghton
    County
    Houghton
    State
    Michigan
    Longitude
    -88.57696
    Latitude
    47.120901

    Nearby Similar for Sale

    • $3,950,000
      18,750 SF

      Houghton Industrial Plaza Investment

      12-unit plaza, high-traffic location, strong leases.
      901 Razorback Dr, Houghton, MI 49931
      View Details
    • $475,000
      4,470 SF

      Downtown Houghton Industrial Gem

      High-traffic location, versatile space, great views.
      815 Shelden Ave, Houghton, MI 49931
      View Details
    • $1,250,000
      4,800 SF

      Houghton Industrial Property

      Prime Houghton location, 4800+ sq ft.
      912 Razorback Dr, Houghton, MI 49931
      View Details

    FAQs

    What type of property is this?
    Duplex - Investment duplex with potential for single-family conversion and landmark views.
    Where is this duplex located?
    The property is located at 309 W Montezuma Ave Houghton, MI.
    What is the asking price?
    The asking price for this property is $275,000.
    What are key features of this property?
    This property features: - Lucrative investment property generating $1800/month in rental income.; - Potential to convert to a single-family home in spring 2027.; - Each unit features 3 bedrooms, full bath, eat-in kitchen, and laundry.
    (906) 370-4738
    Request Owner's contact information
    309 W Montezuma Ave Houghton, MI 49931
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    309 W Montezuma Ave
    Houghton, MI 49931
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    309 W Montezuma Ave Houghton, MI 49931
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    GRETCHEN JANSSEN
    GRETCHEN JANSSEN
    Real Estate License ID: 356309
    (906) 370-4738 (906) 482-1000 (800) 711-5093
    Learn more
    Google sign-in failed. Please try again or use another login method.