Two-Unit Duplex with Historic
For Sale
Under Contract
$349,900
376 Alger Street, Marquette, MI 49855
MULTIFAMILY, 2 Story, Marquette, MI
Property Size1,768 SF
Lot Size0.18 Acres
Price / SF$197.91
Days on Market151
Property Features for 376 Alger Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bathroom 1, Bedroom 2, Bedroom 3, Bathroom 2, Bedroom 1, Bathroom 3
Interior features
9 ft + Ceilings, Ceramic Floors, Hardwood Floors
Appliances
Range/Oven, Refrigerator
Lot features
Rural, Deep Lot - 150+ Ft., Wooded
Elementary school district
Marquette Area School District
Middle school district
Marquette Area School District
High school district
Marquette Area School District
Subdivision
Marquette (52016)
Standard status
Active Under Contract
Size
1,768 SF
Lot size
0.18 Acres
Utilities
Water source
Public
Amenities
off-street parking
laundry hookups
partially fenced backyard
Building Details
Year built
1895
Floors in Building
2
Number of units
2
Architectural style
Colonial
Buildings
1
Listing Agency:
RE/MAX 1ST REALTY · RE/MAX International
(906) 225-1136
Listed By:
GINA FELTNER BOUWS · License #6501297275
(906) 360-4462
Added: Jun 4
Changed: Oct 31
Last Checked: Nov 1 at 2:06PM
MLS# 50210341
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.
Built in 1895, this 1,768-square-foot Colonial duplex contains two residences. The main-floor unit has two bedrooms, one bathroom, hardwood flooring, pocket doors, and an eat-in kitchen. Upstairs, the one-bedroom, one-bath unit includes a living room and eat-in kitchen. A shared entrance features an original wood staircase and stained-glass window; the property also has a basement with two entrances and laundry hookups.
The 0.18-acre property is in Marquette and includes off-street parking and a partially fenced backyard. Public water serves the property.
The 0.18-acre property is in Marquette and includes off-street parking and a partially fenced backyard. Public water serves the property.
Key Highlights
- Two units: one with 2 bedrooms and 1 bathroom; the other with 1 bedroom and 1 bathroom
- 1,768 square feet on a 0.18‑acre lot
- Built in 1895; Colonial architectural style
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,044
Cap Rate
3.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$220,880
$220.9K
Cap Rate 7%
$157,771
$157.8K
Cap Rate 9%
$122,711
$122.7K
Market Conditions
NOI Build-Up for 1,768 SF
Gross rent
$16.3K $9.24/SF
− Vacancy
−$559 −$0.32/SF
EGI
$15.8K $8.92/SF
− OpEx
−$4.7K −$2.68/SF
NOI
$11.0K $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%
$220,880
Cap Rate 7%
$157,771
Cap Rate 9%
$122,711
Alternative Uses
Best Use
Multifamily LT 5
$157.8K
$138.1K – $184.1K
NOI $11,044 @ 7.0% cap · market cap 3.16%
Second Best
Apartment 5plus
$136.6K
$119.5K – $159.4K
NOI $9,561 @ 7.0% cap · market cap 2.73%
Theoretical Best
Office A
$520.7K
$455.6K – $607.5K
NOI $36,449 @ 7.0% cap · market cap 10.42%
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
1,330
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 - Separate living spaces offer a two-bedroom residence and a one-bedroom residence, each with one bathroom.
Where is this duplex located?
The property is located at 376 Alger Street Marquette, MI.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Two units: one with 2 bedrooms and 1 bathroom; the other with 1 bedroom and 1 bathroom; 1,768 square feet on a 0.18‑acre lot; Built in 1895; Colonial architectural style
