Duplex with Separate
513 S 14th Street, Escanaba, MI 49829
For Sale
New
$160,000
RESIDENTIAL, 2 Story, Escanaba, MI
Property Size1,955 SF
Lot Size0.16 Acres
Price / SF$81.84
Days on Market1
Property Features for 513 S 14th Street
General Information
Property type
Property subtype
Zoning description
Bedrooms
Bathrooms
Full bathrooms
Rooms
Patio and Porch features
Interior features
Exterior features
Appliances
Lot features
Elementary school district
Middle school district
High school district
Subdivision
Standard status
Size
Lot size
Additional Details
Individually Metered Utilities
Utilities
Heating system
Water source
Building Details
Year built
Floors in Building
Architectural style
Buildings
Listing Agency:
PREMIER REAL ESTATE, INC.
(906) 786-5030
Listed By:
DAVID COUILLARD · License MI #6501456421
(906) 399-5140
Added: Nov 9
Last Checked: Nov 9 at 11:06AM
MLS# 50227103
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 1,955-square-foot duplex contains two apartments and a full basement. The lower unit has two bedrooms, a bonus room, an eat-in kitchen, living room, walk-in closet, and private laundry room. Its bathroom was remodeled in 2024, and vinyl plank flooring was added through the remaining lower-level rooms. The upper apartment includes a bedroom, a large kitchen, and additional rooms suited to sleeping, office, or storage use. Each unit has its own entrance, gas service, heating system, and utility meters. The lower unit is expected to be vacant at closing.
The property sits on a 0.16-acre lot in Escanaba, near downtown, schools, and shopping. The building was constructed in 1890, and its rental certificate remains valid through 2030 following a city rental inspection.
The property sits on a 0.16-acre lot in Escanaba, near downtown, schools, and shopping. The building was constructed in 1890, and its rental certificate remains valid through 2030 following a city rental inspection.
Key Highlights
- Two‑unit duplex totaling 1,955 square feet
- 0.16‑acre lot in Escanaba
- Separate utility meters, gas service, heating systems, and entrances for each apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,912
Cap Rate
8.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$258,240
$258.2K
Cap Rate 7%
$184,457
$184.5K
Cap Rate 9%
$143,467
$143.5K
Market Conditions
NOI Build-Up for 1,955 SF
Gross rent
$19.9K $10.20/SF
− Vacancy
−$1.5K −$0.77/SF
EGI
$18.4K $9.44/SF
− OpEx
−$5.5K −$2.83/SF
NOI
$12.9K $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 Rate 5%
$258,240
Cap Rate 7%
$184,457
Cap Rate 9%
$143,467
Alternative Uses
Best Use
Multifamily LT 5
$184.5K
$161.4K – $215.2K
NOI $12,912 @ 7.0% cap · market cap 8.07%
Second Best
Apartment 5plus
$171.4K
$150.0K – $200.0K
NOI $12,000 @ 7.0% cap · market cap 7.50%
Theoretical Best
Office A
$382.7K
$334.9K – $446.5K
NOI $26,789 @ 7.0% cap · market cap 16.74%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
551
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
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two distinct apartments offer separate entrances, heating systems, gas service, and utility meters.
Where is this duplex located?
The property is located at 513 S 14th Street Escanaba, MI.
What is the asking price?
The asking price for this property is $160,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,955 square feet; 0.16‑acre lot in Escanaba; Separate utility meters, gas service, heating systems, and entrances for each apartment
