1305 W B St, Iron Mountain, MI 49801
Investment duplex with recent updates, excellent rental history, and desirable features.
Property size:
2,120 SFLot size:
0.38 AcresPrice / SF:
$106/SF- Added:
- Jul 8, 2025
- Days on Market:
- 341
- Last Refresh:
- Jun 10 at 10:33 am
Property Features for 1305 W B St
General Information
- Standard status
- Active
- Property type
- Duplexes, Multifamily properties, Residential income properties
- Size
- 2,120 SF
- Lot size
- 0.38 Acres
Building Details
- Year Built
- 1924
Listing agent Ryan (906) 774-8570
Listing office (906) 774-8570
Listing date Jul 8, 2025
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 |
2,120 SF · lease $10.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$202.2K
$176.9K – $235.9K
NOI $14,153 @ 7.0% cap · market cap 6.29%
Second Best
Apartment 5plus
$188.3K
$164.8K – $219.7K
NOI $13,180 @ 7.0% cap · market cap 5.86%
Theoretical Best
Office A
$408.7K
$357.6K – $476.9K
NOI $28,611 @ 7.0% cap · market cap 12.72%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Iron Mountain
- County
- Dickinson
- State
- Michigan
- Longitude
- -88.084083
- Latitude
- 45.817613
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Investment duplex with recent updates, excellent rental history, and desirable features.
Where is this duplex located?
The property is located at 1305 W B St Iron Mountain, MI.
What is the asking price?
The asking price for this property is $225,000.
