Duplex with Updated Upper
For Sale
Under Contract
$189,900
805 N 5TH STREET, Ishpeming, MI 49849
ISHPEMING, MI
Property Size2,290 SF
Price / SF$82.93
Days on Market52
Property Features for 805 N 5TH STREET
General Information
Property type
Residential Multi Family
Property subtype
Single Family Attached
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bedroom 5, Bedroom 4, Bedroom 3, Bedroom 1
Standard status
Active Under Contract
Size
2,290 SF
Amenities
fenced yard
Building Details
Year built
1880
Listing Agency:
Marquette · Coldwell Banker Real Estate
(906) 225-5992
Listed By:
Naomi Dominy
Added: Sep 11
Changed: Oct 27
Last Checked: Nov 1 at 12:06PM
MLS# 50221452
Copyright © 2026 Coldwell Banker Schmidt 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 2,290-square-foot duplex contains two units with a combined five bedrooms and three bathrooms. The upper apartment received a full renovation in 2023–2024, including a new kitchen and bathroom, replacement drywall, lighting, and flooring. Its primary bedroom has a 6-by-6-foot window. In the lower unit, updates include two replacement windows, new interior doors, and refreshed shower systems in both full bathrooms.
Building-wide electrical replacement and a new main sewer line installed in December 2025 are among the infrastructure work. The property also has a fenced yard and off-street parking for four vehicles.
Building-wide electrical replacement and a new main sewer line installed in December 2025 are among the infrastructure work. The property also has a fenced yard and off-street parking for four vehicles.
Key Highlights
- Two‑unit duplex with 2,290 square feet, five bedrooms, and three bathrooms
- Upper unit renovated in 2023–2024 with new kitchen, bathroom, drywall, lighting, and flooring
- Primary bedroom window measures 6 feet by 6 feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,305
Cap Rate
7.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$286,100
$286.1K
Cap Rate 7%
$204,357
$204.4K
Cap Rate 9%
$158,944
$158.9K
Market Conditions
NOI Build-Up for 2,290 SF
Gross rent
$21.2K $9.24/SF
− Vacancy
−$724 −$0.32/SF
EGI
$20.4K $8.92/SF
− OpEx
−$6.1K −$2.68/SF
NOI
$14.3K $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%
$286,100
Cap Rate 7%
$204,357
Cap Rate 9%
$158,944
Alternative Uses
Best Use
Multifamily LT 5
$204.4K
$178.8K – $238.4K
NOI $14,305 @ 7.0% cap · market cap 7.53%
Second Best
Apartment 5plus
$176.9K
$154.8K – $206.4K
NOI $12,384 @ 7.0% cap · market cap 6.52%
Theoretical Best
Office A
$674.4K
$590.1K – $786.9K
NOI $47,211 @ 7.0% cap · market cap 24.86%
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
289
Businesses Nearby
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Business Placement
Demographics for 49849, MI
11,819
Population
5,915
Households
2
Avg Household Size
43
Median Age
26%
College-Educated
95%
High-School Grad
241.4 sq mi
ZIP Area
49
Density / Sq Mi
$63,425
Median Household Income
$35,081
Median Earnings
$769
Median Rent
$145,600
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 - Five bedrooms and three bathrooms are distributed across a two-unit residential property.
Where is this duplex located?
The property is located at 805 N 5TH STREET Ishpeming, MI.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: Two‑unit duplex with 2,290 square feet, five bedrooms, and three bathrooms; Upper unit renovated in 2023–2024 with new kitchen, bathroom, drywall, lighting, and flooring; Primary bedroom window measures 6 feet by 6 feet
