404 S 3rd Street, Ishpeming, MI 49849
MULTI_FAMILY - Conventional - Ishpeming, MI
- Added:
- Jun 12, 2026
- Days on Market:
- 5
- Last Refresh:
- Jun 16 at 7:06 pm
Property Features for 404 S 3rd Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bedroom 2, Bedroom 3, Basement, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 4
- Parking features
- Driveway
- Patio and Porch features
- Porch, Deck
- Exterior features
- Deck, Porch
- Appliances
- Dryer, Range/Oven, Refrigerator, Washer
- Standard status
- Active
- Size
- 1,782 SF
- Lot size
- 0.08 Acres
Taxes and HOA fees
- Tax Annual Amount
- 1461
Utilities
- Heating system
- Forced Air
- Cooling system
- Window Unit(s), Ceiling Fan(s)
- Water source
- Public
Building Details
- Year built
- 1898
- Floors in Building
- 2
- Number of units
- 2
- Architectural style
- Conventional
Listing agent CRYSTAL BARR BERGLUND License #6502388666 (906) 360-2948
Listing office KELLER WILLIAMS NORTHERN MICHIGAN 830 E Front Street Suite 110, Traverse City, MI (231) 947-8200
Listing date Jun 12, 2026
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.
HighLights
- South Ishpeming duplex with two 2‑bedroom, 1‑bath units
- Covered front porch plus rear deck for outdoor entertaining
- Full basement with laundry hookups and ample storage for the lower unit
- Dedicated concrete parking pad with city‑plowed alley access
- Appliances include washer, dryer, range/oven, and refrigerator
- Forced‑air heating with window unit A/C and ceiling fans
Overview
Access and parking are set up for year-round practicality, with city-plowed alley access leading directly to a dedicated concrete parking pad. The property sits in an established neighborhood, with local schools, the Heritage Trail, and downtown Ishpeming’s shops, restaurants, and community activities within a short walk or bike ride.
The layout suits both owner-occupants and investors who want the flexibility of living in one unit while maintaining a second unit as supplemental income. With a clean, ready-to-occupy configuration, the property provides straightforward, separate living quarters supported by basement laundry access and usable outdoor space for each side.
Local 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 | $16.5k | $9.24 |
| − Vacancy | −$563 | −$0.32 |
| EGI | $15.9k | $8.92 |
| − OpEx | −$4.8k | −$2.68 |
| NOI | $11.1k | $6.25 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Ishpeming
- County
- Marquette
- State
- Michigan
- Longitude
- -87.6653
- Latitude
- 46.487519
