2-Unit Duplex with Detached
For Sale
Under Contract
$149,900
326 W Barnum Street, Ishpeming, MI 49849
MULTIFAMILY, 2 Story, Ishpeming, MI
Property Size1,716 SF
Lot Size0.11 Acres
Price / SF$87.35
Days on Market103
Property Features for 326 W Barnum Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Multi-Family
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Laundry Room, Bathroom 2, Bedroom 3, Bedroom 2, Basement, Bathroom 1, Bedroom 1, Bedroom 4
Parking features
Garage
Patio and Porch features
Patio
Exterior features
Patio
Appliances
Dryer, Range/Oven, Refrigerator, Washer
Subdivision
Excelsior Iron Companys Add
Lot features
Corner Lot, Platted
Elementary school district
Ishpeming Public School District
Middle school district
Ishpeming Public School District
High school district
Ishpeming Public School District
Standard status
Active Under Contract
Size
1,716 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
2064
Utilities
Heating system
Steam
Cooling system
Ceiling Fan(s)
Water source
Public
Building Details
Year built
1880
Floors in Building
2
Number of units
2
Architectural style
Conventional
Listing Agency:
EXCLUSIVE HOUSE OF REAL ESTATE
(810) 498-4016
Listed By:
CRYSTAL BARR BERGLUND · License #6502388666
(906) 360-2948
Added: Jul 22
Changed: Oct 31
Last Checked: Nov 1 at 1:06PM
MLS# 50215979
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.
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Investment Insights
Based on property information with market context.
This conventional duplex contains 1,716 square feet with two separate units, each arranged with 2 bedrooms and 1 full bathroom. Built in 1880, the property includes a basement, laundry room, patio, steam heating, ceiling fans, and a detached 2-car garage. The garage provides covered vehicle storage along with room for equipment and household items. Public water serves the property, and appliances include a range/oven, refrigerator, washer, and dryer.
The 0.11-acre parcel is positioned at 326 W Barnum Street in Ishpeming, Michigan, near downtown amenities and Lake Bancroft. The property is next to the Cliffs Shaft Mine Museum and offers access to regional trail networks. Its elevated corner-lot setting, garage, and two-bedroom unit layout define the asset’s practical residential configuration.
The 0.11-acre parcel is positioned at 326 W Barnum Street in Ishpeming, Michigan, near downtown amenities and Lake Bancroft. The property is next to the Cliffs Shaft Mine Museum and offers access to regional trail networks. Its elevated corner-lot setting, garage, and two-bedroom unit layout define the asset’s practical residential configuration.
Key Highlights
- Two‑unit duplex with 1,716 square feet of total property size
- Each unit includes 2 bedrooms and 1 full bathroom
- Detached 2‑car garage with additional storage capacity
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,719
Cap Rate
7.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$214,380
$214.4K
Cap Rate 7%
$153,129
$153.1K
Cap Rate 9%
$119,100
$119.1K
Market Conditions
NOI Build-Up for 1,716 SF
Gross rent
$15.9K $9.24/SF
− Vacancy
−$542 −$0.32/SF
EGI
$15.3K $8.92/SF
− OpEx
−$4.6K −$2.68/SF
NOI
$10.7K $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%
$214,380
Cap Rate 7%
$153,129
Cap Rate 9%
$119,100
Alternative Uses
Best Use
Multifamily LT 5
$153.1K
$134.0K – $178.7K
NOI $10,719 @ 7.0% cap · market cap 7.15%
Second Best
Apartment 5plus
$132.6K
$116.0K – $154.7K
NOI $9,280 @ 7.0% cap · market cap 6.19%
Theoretical Best
Office A
$505.4K
$442.2K – $589.6K
NOI $35,377 @ 7.0% cap · market cap 23.60%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
327
Businesses Nearby
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Business Placement
Demographics for 49849, MI
11,819
Population
5,915
Households
2
Avg Household Size
43
Median Age
26%
College-Educated
95%
High-School Grad
241.4 sq mi
ZIP Area
49
Density / Sq Mi
$63,425
Median Household Income
$35,081
Median Earnings
$769
Median Rent
$145,600
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-bedroom units, a patio, and a detached garage support practical multifamily living near downtown Ishpeming.
Where is this duplex located?
The property is located at 326 W Barnum Street Ishpeming, MI.
What is the asking price?
The asking price for this property is $149,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,716 square feet of total property size; Each unit includes 2 bedrooms and 1 full bathroom; Detached 2‑car garage with additional storage capacity
