Duplex with Two-Car
New
For Sale
$270,000
309 Tobin Street, Negaunee, MI 49866
MULTI_FAMILY - Conventional - Negaunee, MI
Property Size2,569 SF
Lot Size0.17 Acres
Price / SF$105.10
Days on Market3
Property Features for 309 Tobin Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Basement, Bathroom 1, Bedroom 4, Family Room, Bedroom 1, Bedroom 2, Den, Bathroom 2, Bedroom 3
Parking features
Garage
Patio and Porch features
Porch
Interior features
Hardwood Floors, Window Treatment(s)
Exterior features
Porch, Street Lights
Lot features
Walk to School
Elementary school district
Negaunee Public Schools
Middle school district
Negaunee Public Schools
High school district
Negaunee Public Schools
Subdivision
Negaunee (52021)
Standard status
Active
Size
2,569 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3400
Utilities
Heating system
Oil, Forced Air
Water source
Public
Building Details
Year built
1898
Floors in Building
2
Number of units
2
Architectural style
Conventional
Listing Agency:
COLDWELL BANKER SCHMIDT REALTORS
(906) 225-5992
Listed By:
CHELSEY DAAVETTILA · License #UPAR
(906) 282-2524
Added: Aug 3
Changed: Aug 4
Last Checked: Aug 5 at 6:06PM
MLS# 50217087
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 conventional duplex contains 2,569 square feet on a 0.17-acre lot, with one residence positioned toward the front and another at the rear. The front unit includes a retro-style kitchen, living room, formal dining room, three upstairs bedrooms, and a full bath. The rear unit offers hardwood floors, an eat-in kitchen with walk-in pantry, living room, office or den, two upstairs bedrooms, and a full bath.
Property improvements include a new furnace serving the rear unit, an updated electrical panel, a newer roof, and rebuilt chimneys. A two-car garage, additional off-street parking, and a porch add functional value. Built in 1898, the property is near the Iron Ore Heritage Trail, parks, and downtown amenities in Negaunee.
Property improvements include a new furnace serving the rear unit, an updated electrical panel, a newer roof, and rebuilt chimneys. A two-car garage, additional off-street parking, and a porch add functional value. Built in 1898, the property is near the Iron Ore Heritage Trail, parks, and downtown amenities in Negaunee.
Key Highlights
- 2,569‑square‑foot duplex on a 0.17‑acre lot
- Front unit includes 3 upstairs bedrooms and formal dining room
- Rear unit features hardwood floors, eat‑in kitchen, pantry, and office or den
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 | $23.7k | $9.24 |
| − Vacancy | −$812 | −$0.32 |
| EGI | $22.9k | $8.92 |
| − OpEx | −$6.9k | −$2.68 |
| NOI | $16.0k | $6.25 |
2,569 SF · lease $9.24/SF/yr · vacancy 3.42% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$229.3K
$200.6K – $267.5K
NOI $16,048 @ 7.0% cap · market cap 5.94%
Second Best
Apartment 5plus
$198.5K
$173.7K – $231.6K
NOI $13,893 @ 7.0% cap · market cap 5.15%
Theoretical Best
Office A
$756.6K
$662.0K – $882.7K
NOI $52,963 @ 7.0% cap · market cap 19.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
241
Businesses Nearby
Explore this area
Business Placement
Demographics for 49866, MI
8,259
Population
3,723
Households
2.2
Avg Household Size
41
Median Age
34%
College-Educated
96%
High-School Grad
201.3 sq mi
ZIP Area
41
Density / Sq Mi
$83,433
Median Household Income
$47,467
Median Earnings
$900
Median Rent
$191,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Front and rear units offer distinct living spaces, off-street parking, and several recent mechanical and building updates.
Where is this duplex located?
The property is located at 309 Tobin Street Negaunee, MI.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: 2,569‑square‑foot duplex on a 0.17‑acre lot; Front unit includes 3 upstairs bedrooms and formal dining room; Rear unit features hardwood floors, eat‑in kitchen, pantry, and office or den
