Two-Story Duplex with Walk-Up
For Sale
$379,900
224 W Hewitt Avenue, Marquette, MI 49855
Two residential units each have a kitchen, full bath, and spacious rooms.
Property Size2,236 SF
Price / SF$169.90
Days on Market26
Property Features for 224 W Hewitt Avenue
General Information
Standard status
Active
Size
2,236 SF
Property subtype
1 to 4 Units
Additional Details
Multifamily Units
2
Building Details
Year Built
1905
Stories
2
Listing Agency:
COLDWELL BANKER SCHMIDT REALTORS
(906) 225-5992
Listed By:
PAULA LUTEY · License #251752
(906) 869-3611
Source:
Tilleryrealtygroup
Added: Oct 9
Changed: Nov 3
Last Checked: Nov 3 at 8:58AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of COLDWELL BANKER SCHMIDT REALTORS
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Investment Insights
Based on property information with market context.
Built in 1905, this 2,236-square-foot duplex contains two units arranged across two stories. Each floor is configured as a 1- to 2-bedroom unit with a kitchen, pantry storage, a full bath, and large closets. Original woodwork, doors, trim, and hardwood floors remain, alongside stained-glass windows and clawfoot tubs.
A walk-up attic offers additional room for expansion. The property also includes a full basement, a two-car garage, off-street parking, and a partially fenced backyard. Its location is close to city amenities.
A walk-up attic offers additional room for expansion. The property also includes a full basement, a two-car garage, off-street parking, and a partially fenced backyard. Its location is close to city amenities.
Key Highlights
- Two units in a two‑story, 2,236‑square‑foot building
- Each floor is configured as a 1- to 2‑bedroom unit
- Walk‑up attic, full basement, and two‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,968
Cap Rate
3.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$279,360
$279.4K
Cap Rate 7%
$199,543
$199.5K
Cap Rate 9%
$155,200
$155.2K
Market Conditions
NOI Build-Up for 2,236 SF
Gross rent
$20.7K $9.24/SF
− Vacancy
−$707 −$0.32/SF
EGI
$20.0K $8.92/SF
− OpEx
−$6.0K −$2.68/SF
NOI
$14.0K $6.25/SF
Area
Marquette County, MI
Vacancy
3.42%
Lease Rate
$9.24 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$279,360
Cap Rate 7%
$199,543
Cap Rate 9%
$155,200
Alternative Uses
Best Use
Multifamily LT 5
$199.5K
$174.6K – $232.8K
NOI $13,968 @ 7.0% cap · market cap 3.68%
Second Best
Apartment 5plus
$172.7K
$151.2K – $201.5K
NOI $12,092 @ 7.0% cap · market cap 3.18%
Theoretical Best
Office A
$658.5K
$576.2K – $768.3K
NOI $46,097 @ 7.0% cap · market cap 12.13%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,237
Businesses Nearby
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Business Placement
Demographics for 49855, MI
32,929
Population
15,779
Households
2.1
Avg Household Size
38
Median Age
45%
College-Educated
96%
High-School Grad
206.9 sq mi
ZIP Area
159
Density / Sq Mi
$62,321
Median Household Income
$27,408
Median Earnings
$992
Median Rent
$245,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units each have a kitchen, full bath, and spacious rooms.
Where is this duplex located?
The property is located at 224 W Hewitt Avenue Marquette, MI.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: Two units in a two‑story, 2,236‑square‑foot building; Each floor is configured as a 1- to 2‑bedroom unit; Walk‑up attic, full basement, and two‑car garage
