Building Details

Year built 1905

Listing Agency: Marquette · Coldwell Banker Real Estate c***@schmidtfamilyofcompanies.com Show Phone

Listed By: Paula Lutey · License #251752 Show Phone

Added: Oct 10 Changed: Oct 13 Last Checked: Oct 15 at 12:06PM

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MLS# 50224527

Copyright © 2026 Coldwell Banker Schmidt 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 2,236-square-foot duplex was built in 1905 and is arranged as two residential units across two stories. Each floor is configured for one or two bedrooms and includes a kitchen with pantry storage, a full bathroom, and spacious rooms. Original woodwork, doors, trim, hardwood floors, and stained-glass windows remain among the interior features. A walk-up attic offers additional space, while the property also includes a full basement and a two-car garage.

Outdoor features include a partially fenced backyard and off-street parking. The property is located in Marquette, Michigan, with proximity to city amenities.

Key Highlights

• Two units, with one- to two‑bedroom layouts on each floor
• 2,236 square feet across two stories; built in 1905
• Each unit has a kitchen with pantry storage and a full bathroom with a clawfoot tub

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 (±1% cap)

NOI $13,968 @ 7.0% cap · market cap 3.68%

Second Best

Apartment 5plus

$172.7K

$151.2K – $201.5K (±1% cap)

NOI $12,092 @ 7.0% cap · market cap 3.18%

Theoretical Best

Office A

$658.5K

$576.2K – $768.3K (±1% cap)

NOI $46,097 @ 7.0% cap · market cap 12.13%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Auto Repair Shop Garden Center (Bike/Boat/Book/etc) Store Big Box & Wholesale Store Plumbing Service Butcher

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

1,347

Businesses Nearby

Explore this area 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

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Each floor has a kitchen, full bath, and a layout configured for one or two bedrooms.

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, with one- to two‑bedroom layouts on each floor; 2,236 square feet across two stories; built in 1905; Each unit has a kitchen with pantry storage and a full bathroom with a clawfoot tub