4-Unit Apartment
611 W Prospect Street, Marshall, MI 49068
For Sale
$379,000
Multi Family, Marshall, MI
Property Size2,800 SF
Lot Size0.25 Acres
Price / SF$135.36
Days on Market46
Property Features for 611 W Prospect Street
General Information
Property type
Property subtype
Bedrooms
Full bathrooms
Rooms
Parking
Parking features
Basement
Lot features
Elementary school district
Middle school district
High school district
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Standard status
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Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
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Utilities
Utilities
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Building Details
Year built
Number of units
Building materials
Roof type
Buildings
Listing Agency:
Five Star Real Estate
(269) 459-7898
Listed By:
Liz Beischer
(231) 329-3877
Added: Sep 25
Changed: Oct 30
Last Checked: Nov 9 at 11:06PM
MLS# 26051181
Copyright © 2026 Michigan Regional Information Center, LLC. 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 4-unit apartment building at 611 W Prospect Street in Marshall contains approximately 2,800 square feet. The property was built in 1905 and has wood siding, a composition roof, hot water heating, and driveway parking. Cable service is available, and the lot measures 0.25 acres.
The apartments are currently leased. The property information also identifies a possible additional apartment on the third floor; that configuration is described as a possibility, not a confirmed unit.
The apartments are currently leased. The property information also identifies a possible additional apartment on the third floor; that configuration is described as a possibility, not a confirmed unit.
Key Highlights
- Four apartments; all are currently leased
- Approximately 2,800 square feet
- 0.25‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,496
Cap Rate
6.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$489,920
$489.9K
Cap Rate 7%
$349,943
$349.9K
Cap Rate 9%
$272,178
$272.2K
Market Conditions
NOI Build-Up for 2,800 SF
Gross rent
$37.0K $13.20/SF
− Vacancy
−$2.0K −$0.70/SF
EGI
$35.0K $12.50/SF
− OpEx
−$10.5K −$3.75/SF
NOI
$24.5K $8.75/SF
Area
Calhoun County, MI
Vacancy
5.32%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$489,920
Cap Rate 7%
$349,943
Cap Rate 9%
$272,178
Alternative Uses
Best Use
Multifamily LT 5
$349.9K
$306.2K – $408.3K
NOI $24,496 @ 7.0% cap · market cap 6.46%
Second Best
Apartment 5plus
$304.0K
$266.0K – $354.7K
NOI $21,283 @ 7.0% cap · market cap 5.62%
Theoretical Best
Office A
$589.2K
$515.6K – $687.4K
NOI $41,244 @ 7.0% cap · market cap 10.88%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
792
Businesses Nearby
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Business Placement
Demographics for 49068, MI
14,325
Population
6,901
Households
2.1
Avg Household Size
45
Median Age
36%
College-Educated
96%
High-School Grad
129.9 sq mi
ZIP Area
110
Density / Sq Mi
$78,476
Median Household Income
$47,198
Median Earnings
$904
Median Rent
$196,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - All four apartments are leased, providing an existing residential rental operation.
Where is this quadplex located?
The property is located at 611 W Prospect Street Marshall, MI.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: Four apartments; all are currently leased; Approximately 2,800 square feet; 0.25‑acre lot
