3 months on rocket

403 N Main St, Ishpeming, MI, 49849

$338,000

Home List Price

$4,014*

Closing Credit

7 Bedrooms
5 Full Baths
3,142 SqFt
$108/SqFt
Multi

Location

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403 N Main St, Ishpeming$338,000

Buyer Closing Credits

$4,014*

1.25% Loan Amount

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Contact Us Phone Number1 (855) 200-2001

Property Highlights

Home TypeMulti Family
Parking3 or More Spaces, On Street, Paved Driveway, Unassigned/General
Year Built1886
HeatingHot Water
CoolingNone
BasementYes
WaterfrontNone
FireplaceLivRoom Fireplace
ViewNone
MLS #50150145
Lot Size0.14 Acres
StatusActive

About 403 N Main St

Here is an extraordinary opportunity to invest in a 5-plex apartment! Centrally located in an excellent spot in a good neighborhood, this historic multiplex sits atop a hill, a few blocks from downtown Ishpeming. This is an established rental with a proven track record for high occupancy rates. Currently, all units are rented out. Leases are month to month and the tenants are communicative and cooperative. See associated documents for Cubi Casa measurements for each apartment and the basement. This historic home is solid with a well-maintained utility system and good bones. The roof is BRAND NEW, installed in 2023 ($70,000 value)! Shared laundry facilities are located in the basement. There are also storage cages for each unit on the opposite end of the laundry facility. Across the street is the Ishpeming Carnegie Library and the historic Mather Inn! Just a short walk from downtown (literally two blocks away), with access to Jim's Jubilee Foods, various restaurants, bars, shops, and churches. Lake Bancroft & the Ishpeming playgrounds are just another few blocks away. Rents are as follows: Unit 1: $700 rent/mo., tenant pays electric, Unit 2: $700 rent/mo., tenant pays electric, Unit 3: $750 rent/mo., tenants pay electric, Unit 4: $700 rent/mo., tenants pay electric, Unit 5: $600 rent/mo. Seller pays all utilities, EXCEPT for electricity in apartments #1-4. Seller pays ALL utilities for apartment #5. To gauge expenses, utilities are, on average, $700/mo. and add more for the winter months. All bathrooms are full except for apartment 5, which has a shower instead of a bathtub. Fireplaces in apartments 2, 3, 4 and 5 are not in working condition. Apartment 5 includes a space heater. RENTS TO INCREASE DEC. 1, 2024: APT. 1: $750, APT. 2: $775, APT. 3: $825, APT. 4: $775, APT. 5: $650.

Property Details

Property Features

Property Information:

  • Architectural Style: Conventional Frame
  • Year Built: 1886
  • Living Area: 3,142 SqFt

Listing Office:

  • Office Name: SELECT REALTY
  • Office Phone: (906) 228-2772
  • Listing Agent: DON SCHINELLA

Interior Features

Interior Information:

  • Appliances: Dryer, Range, Oven, Refrigerator, Washer
  • Basement: Yes
  • Interior: 9 ft + Ceilings, Walk-In Closet
  • Fireplace: LivRoom Fireplace

Bedroom and Bathroom Information:

  • Full Bathrooms: 5
  • Total Bedroom Count: 7

Exterior Features

Exterior Information:

  • Waterfront: None
  • View: None
  • Exterior: Porch, Sidewalks, Exterior Balcony

Parking Information:

  • Parking: 3 or More Spaces, On Street, Paved Driveway, Unassigned/General

Lot Features

Lot Information:

  • Lot: Corner Lot, Sidewalk
  • Lot Size: 0.14 Acres

Utilities

Utilities Information:

  • Heating: Hot Water
  • Cooling: None

School Info

School District Information:

  • School District: Ishpeming Public School District

Other

Directions Information:

  • Directions: From US 41/ M 28, take the third exit in the roundabout by the Ski Hall of Fame, towards downtown Ishpeming. Follow Third St. to Hematite Dr. and turn right. About three blocks down, turn right onto Main St. The house sits on the corner of N. Main and W. Barnum, directly across the street from the Ishpeming Carnegie Library. There is a driveway off of W. Barnum and another driveway and parking spots off of Main St.

Price Information

Listing Price Info

Price Summary:

  • List Price: $338,000
  • Price Per SqFt: $108/SqFt

Tax Information:

  • Annual Amount: $4,183
  • Tax Year: 2019
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Housing Market Comparison

See how this home compares to others in Ishpeming, MI.

Med. Sold Price

$175K

Med. Price/SqFt

$124

Avg. Days On Market

24

# of Sold Homes

10

403 N Main St vs Ishpeming

115 DAYS ON ROCKET

+91 Days

$338,000

+$163K More

$108/SqFt

-$16 Less

KEY TAKEAWAY

This property is $163K more than the Median Sold Price and $16/SqFt less than other homes in Ishpeming, MI.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: Upper Peninsula Assoc of Realtors
  • MLS Number: #50150145

Listing Office:

  • Office Name: SELECT REALTY
  • Office Phone: (906) 228-2772
  • Listing Agent: DON SCHINELLA

IDX Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.

Copyright 2024 MiRealSource. All rights reserved. The information provided hereby constitutes proprietary information of MiRealSource, Inc. and its shareholders, affiliates and licensees and may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, scanning or any information storage and retrieval system, without written permission from MiRealSource, Inc.

The information published and disseminated by the Originating MLS is communicated verbatim, without change by the Originating MLS, as filed with it by its members. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 11/21/2024, 12:20:58 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Tax History

YEARPROP. TAXASSESSMENT
2021 - $77,600
2020 - $74,300
2019$4,183$68,800
2018$4,074$73,200
2017$4,078$73,050

History based on county public records data.

Payment Calculator

$1,754

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$1,080

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-289166
5
/10
  • Birchview School

  • 663 Poplar St

  • 1.35 miles

  • Public District Grades PK-4

school-card-donut-289167
6
/10
  • Lakeview School

  • 200 Croix St

  • 3.15 miles

  • Public District Grades PK-4

school-card-donut-289168
6
/10
  • Superior Hills Elementary School

  • 1201 S McClellan Ave

  • 12.39 miles

  • Public District Grades PK-5

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $40,962. Residents of Ishpeming, MI typically earn less than $35k each year. The most common type of family is single, no kids. Most residents in this area have post secondary degree education.

All data provided by Home Junction and Claritas


Rocket HomesMichiganMarquette CountyIshpeming49849403 N Main St

This home is located at 403 N Main St in Ishpeming, MI and zip code 49849. This 3,142 square foot home, which was built in 1886, sits on a 0.14 acre lot. Features: 7 bedrooms, 5 bathrooms. It has been listed on Rocket Homes since July 29, 2024 and is currently priced at $338,000.

In October 2024, from all listings sold in Ishpeming, MI there were more than 1 sold above asking price, over 7 sold below and more than 2 were sold right at the asked price. In October 2024 in Ishpeming, MI there were 7.3% more homes for sale than in September 2024. The median list price of listings available in October 2024 was $175,000, while the average time on the real estate market was 24 days.

From Rocket Homes Real Estate and based on county public records data.

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