Iron Mountain Duplex Near
607/609 Kennedy Road Iron Mountain, MI 49801
607/609 Kennedy Road, Iron Mountain, MI, 49801
$324,900
Pending
For Sale
$324,900
Pending
MULTI_FAMILY - Ranch - Iron Mountain, MI
Property Size2,224 SF
Lot Size0.55 Acres
Days on Market65
Property Features for 607/609 Kennedy Road
General Information
- Property type
- Residential Multi Family
- Property subtype
- Single Family Residence
- Bedrooms
- 4
- Bathrooms
- 3
- Rooms
- Basement, Bathroom 2, Bedroom 3, Bedroom 2, Bedroom 4, Bathroom 3, Bathroom 1, Bedroom 1, Family Room
- Parking features
- Garage, Driveway
- Patio and Porch features
- Deck
- Exterior features
- Deck, Street Lights
- Standard status
- Pending
- Size
- 2,224 SF
- Lot size
- 0.55 Acres
Taxes and HOA fees
- Tax Annual Amount
- 3956
Utilities
- Heating system
- Electric (Heating), Forced Air, Baseboard, Zoned
- Cooling system
- Central Air
- Water source
- Well
Building Details
- Year built
- 1977
- Floors in Building
- 1
- Number of units
- 2
- Architectural style
- Ranch
Listing agency
LEEDS REAL ESTATE
(906) 779-5333
Listed by
LINDA PLUMLEY · License #UPAR
(906) 396-9737
Added: May 19 Updated: Jun 19 at 1:00PM Checked: Jul 22 at 6:06PM
MLS# 50208350
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.
This side-by-side duplex is located in a desirable neighborhood near Lake Antoine. Each unit features 2 bedrooms, a full bath, and an open-concept kitchen, dining, and living area. Both units have private decks, separate utilities, natural gas forced-air heat, and central air. One of the units includes additional living space with the start of a 9x10 three-seasons room, an extra half bath with a laundry area, a non-conforming basement bedroom, and a workshop. The property is situated on a large, level lot with fruit trees and two fenced garden areas. There is a storage shed plus an additional shed with windows suitable for hobbies or gardening. The property offers an opportunity to owner-occupy one side while renting out the other. Unit 609 includes a stove, refrigerator, washer, dryer, window treatments, microwave, 2 TVs, and extra wood. Unit 607 includes a stove and refrigerator. The property size is 2224 square feet and the lot size is 0.55 acres.
Key Highlights
- Side‑by‑side duplex built in 1977 in a desirable neighborhood near Lake Antoine
- Each unit has 2 bedrooms and 1 full bath with open‑concept kitchen, dining, and living areas
- Private deck for each unit, plus separate utilities and central air
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 | $22.7k | $10.20 |
| − Vacancy | −$1.5k | −$0.66 |
| EGI | $21.2k | $9.54 |
| − OpEx | −$6.4k | −$2.86 |
| NOI | $14.8k | $6.68 |
2,224 SF · lease $10.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$212.1K
$185.6K – $247.5K
NOI $14,847 @ 7.0% cap · market cap 4.57%
Second Best
Apartment 5plus
$197.5K
$172.8K – $230.5K
NOI $13,827 @ 7.0% cap · market cap 4.26%
Theoretical Best
Office A
$428.8K
$375.2K – $500.2K
NOI $30,014 @ 7.0% cap · market cap 9.24%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Desirable duplex near Lake Antoine with income potential.
Where is this duplex located?
The property is located at 607/609 Kennedy Road Iron Mountain, MI.
What is the asking price?
The asking price for this property is $324,900.
What are key features of this property?
This property features: Side‑by‑side duplex built in 1977 in a desirable neighborhood near Lake Antoine; Each unit has 2 bedrooms and 1 full bath with open‑concept kitchen, dining, and living areas; Private deck for each unit, plus separate utilities and central air
