Two-Unit Duplex with
New
For Sale
$129,900
310 N 18TH STREET, Escanaba, MI 49829
MULTI_FAMILY - ESCANABA, MI
Property Size1,661 SF
Price / SF$78.21
Days on Market3
Property Features for 310 N 18TH STREET
General Information
Property type
Residential Multi Family
Property subtype
Single Family Attached
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Bedroom 4, Bedroom 1
Subdivision
Smith-Dunlap Add
Standard status
Active
Size
1,661 SF
Building Details
Year built
1905
Listing Agency:
Escanaba · Coldwell Banker Real Estate
(906) 786-5972
Listed By:
Jean Fulton · License #6506031220
(906) 420-5444
Added: Aug 13
Last Checked: Aug 15 at 2:06AM
MLS# 50203727
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 1,661-square-foot duplex was built in 1905 and contains two residential units. An original staircase connects the floors, creating the potential for single-family use in addition to the existing duplex configuration. Storage is a major feature, with a large pantry in the lower unit, three storage areas and a spacious entry upstairs, and additional basement space with a laundry setup serving the lower unit.
Located at 310 N 18th Street in Escanaba, the property includes a yard, on-site parking, and a garage currently used for toy storage. The garage has a small door that could be updated for a larger opening. Both units were recently vacant and city certified.
Located at 310 N 18th Street in Escanaba, the property includes a yard, on-site parking, and a garage currently used for toy storage. The garage has a small door that could be updated for a larger opening. Both units were recently vacant and city certified.
Key Highlights
- 1,661 SF duplex with two residential units
- Original staircase between floors supports potential single‑family configuration
- Lower unit includes a large pantry and basement laundry setup
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$10,970
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.44%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$219,400
$219.4K
Cap Rate 7%
$156,714
$156.7K
Cap Rate 9%
$121,889
$121.9K
Market Conditions
NOI Build-Up for 1,661 SF
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.
Gross rent
$16.9K $10.20/SF
− Vacancy
−$1.3K −$0.77/SF
EGI
$15.7K $9.44/SF
− OpEx
−$4.7K −$2.83/SF
NOI
$11.0K $6.60/SF
Area
Delta County, MI
Vacancy
7.50%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$219,400
Cap Rate 7%
$156,714
Cap Rate 9%
$121,889
Alternative Uses
Best Use
Multifamily LT 5
$156.7K
$137.1K – $182.8K
NOI $10,970 @ 7.0% cap · market cap 8.44%
Second Best
Apartment 5plus
$145.6K
$127.4K – $169.9K
NOI $10,195 @ 7.0% cap · market cap 7.85%
Theoretical Best
Office A
$325.2K
$284.5K – $379.4K
NOI $22,761 @ 7.0% cap · market cap 17.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
766
Businesses Nearby
Explore this area
Business Placement
Demographics for 49829, MI
17,009
Population
8,729
Households
1.9
Avg Household Size
45
Median Age
19%
College-Educated
90%
High-School Grad
66.8 sq mi
ZIP Area
255
Density / Sq Mi
$45,808
Median Household Income
$31,366
Median Earnings
$667
Median Rent
$139,000
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 - The property offers substantial storage, basement laundry access, parking, and a yard in Escanaba.
Where is this duplex located?
The property is located at 310 N 18TH STREET Escanaba, MI.
What is the asking price?
The asking price for this property is $129,900.
What are key features of this property?
This property features: 1,661 SF duplex with two residential units; Original staircase between floors supports potential single‑family configuration; Lower unit includes a large pantry and basement laundry setup
