4-Unit Apartment
For Sale
$379,000
611 W Prospect Street, Marshall, MI 49068
Multi Family, Marshall, MI
Property Size2,800 SF
Lot Size0.25 Acres
Price / SF$135.36
Days on Market17
Property Features for 611 W Prospect Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Full bathrooms
4
Rooms
Basement, Bathroom 4, Bathroom 3, Bathroom 2, Bedroom 1, Bedroom 3, Bedroom 4, Bathroom 1, Bedroom 2
Parking
6
Parking features
Driveway
Basement
Full
Lot features
Sidewalk
Elementary school district
Marshall
Middle school district
Marshall
High school district
Marshall
Directions
Front Michigan Ave, go north on Mulberry, turn west on Prospect. Building is on the south side of the road.
Standard status
Active
APN
53-000-234-00
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
MARSHALL CITY, LOWER VILLAGE W 2/3 LOT 4 BLK 7.
Tax Annual Amount
9043
Legal Description
MARSHALL CITY, LOWER VILLAGE W 2/3 LOT 4 BLK 7.
Utilities
Utilities
Cable Available
Heating system
Hot Water(Heating)
Building Details
Year built
1905
Number of units
4
Building materials
Wood Siding
Roof type
Composition
Listing Agency:
Five Star Real Estate
(269) 459-7898
Listed By:
Liz Beischer
(231) 329-3877
Added: Sep 25
Changed: Oct 2
Last Checked: Oct 11 at 4:06AM
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.
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
Healthcare Medical
$33.21M
$29.06M – $38.75M
NOI $2,325,022 @ 7.0% cap · market cap 613.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
792
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
