$4,014
closing credit¹
403 N Main St Ishpeming, MI 49849
Property details
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.
Highlights
Summary
- MLS Number: 50150145
- MLS Name: Upper Peninsula Assoc of Realtors
- Office Name: SELECT REALTY
- Office Phone: (906) 228-2772
- Office Email: select@selectmqt.com
- Listing Agent: DON SCHINELLA
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.
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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: 2/10/2025, 6:20:53 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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$338,000
403 N Main St
$4,014
closing credit¹
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Price information
Property sales
We're sorry, we currently don't have property sales data for this listing.
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2024 | $117,450 | $6,394 |
| 2023 | $103,750 | $- |
| 2022 | $74,300 | $- |
| 2021 | $77,600 | $- |
| 2020 | $74,300 | $- |
| 2019 | $68,800 | $4,183 |
| 2018 | $73,200 | $4,074 |
| 2017 | $73,050 | $4,077 |
History based on county public records data.
Nearby schools
5
Birchview School
Public District PK-4
1.4 mi
•663 Poplar St
6
Lakeview School
Public District PK-4
3.2 mi
•200 Croix St
6
Superior Hills Elementary School
Public District PK-5
12.4 mi
•1201 S McClellan Ave
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $40,962. The majority of Ishpeming, MI residents have income less than $<35k annually. Most families are single, no kids. The majority of residents in this area have post secondary degree education.
How much money do the neighbors make?
What level of education do the neighbors have?
What types of families live nearby?
Are the neighbors home owners or renters?
How old are people in this area?
What do the neighbors do for fun?
Pro Wrestling
Figure Skating
Extreme Sports
Where do the neighbors shop?
Family Dollar
Kmart
Academy Sports & Outdoors
Where do the neighbors go to eat?
Dominos Pizza
Bob Evans
Little Caesars
What do the neighbors drive?
Ford
Buick
Chevrolet
What do the neighbors listen to?
New Country
Oldies
Country
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 January 2025, from all listings sold in Ishpeming, MI there were more than 4 sold above asking price, over 3 sold below and more than 4 were sold right at the asked price. In January 2025 in Ishpeming, MI there were 19.4% less homes for sale than in December. Listings spent 12 days on the market in January 2025, and had a median list price of $205,000 during the same period.