212 N Seventh St · Marquette, MI 49855

$269,900

3 bd · 2.0 ba · 1,172 sqft · MultiFamily public records · 26 Days on market

Built 1898 3,484 sqft lot Est $229k · 18% over

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Why this score? — see what drove the D- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +14.3/30.0
• Livability +4.5/5.0
• DSCR +4.4/10.0
• Schools +4.2/10.0
• 1% rule +4.0/10.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Charming duplex in the heart of Marquette! Exceptionally well maintained and ideally located near Northern Michigan University, the hospital, the co-op, and Washington Street Park. This inviting property offers wonderful flexibility for owner-occupants or investors alike. The lower level features a spacious two-bedroom, one-bath layout with a comfortable living room, dining area, and a bright updated eat-in kitchen full of charm and functionality. A full basement, accessible from both the lower unit and back entrance, provides excellent storage and utility space. Upstairs, the adorable one-bedroom, one-bath apartment has a cozy “tree house” feel, complete with generous living space, a welcoming kitchen, and an abundance of natural light pouring through the many windows. Beautiful original hardwood floors shine upstairs and are also believed to be hidden beneath the downstairs carpeting, adding even more character and potential. With its classic charm, excellent location, and warm inviting feel, this is the perfect opportunity for an owner-occupied investment or a wonderful addition to your rental portfolio.

Key facts

• Full basement
• Excellent storage
• 3,484 sq ft lot

Tags

• SPACIOUS TWO-BEDROOM LAYOUT
• BRIGHT UPDATED EAT-IN KITCHEN
• FULL BASEMENT
• EXCELLENT STORAGE
• GENEROUS LIVING SPACE
• ABUNDANCE OF NATURAL LIGHT

Property features AI

Finance

• Other: Zoned residential; Lot frontage approx. 45'; Paved, year-round city/county road access; Approximately 0.08 acres

Exterior

• Parking: 2 parking spaces
• Utilities: Public water; Public sanitary sewer; Electricity connected; Natural gas connected; Cable connected; Hard-line internet and Spectrum available; Phone connected
• Home design: Residential duplex/1-to-4-unit investment property; 1.5-story structure built in 1898; Entry faces a road
• Construction: Basement foundation; Vinyl siding exterior; Built in 1898
• Exterior features: Vinyl siding; Porch; Sidewalks; City limits location; Rural view

Interior

• Kitchen: Range/oven; Refrigerator; Eat-in kitchen (approx. 15 x 10)
• Bedrooms: Bedroom 1 (first floor) — 12 x 12; Bedroom 2 (first floor) — 11 x 10; Bedroom 3 (second floor) — approx. 10 wide
• Flooring: Hardwood floors
• Bathrooms: Two full bathrooms; Main floor full bathroom (approx. 6 x 7); Second-floor bathroom (approx. 5 x 6)
• Heating & cooling: Forced-air heating; No central cooling; Natural gas water heater
• Interior features: Cable/internet available; Hardwood floors; First-floor bedroom; Eat-in kitchen; Full basement
• Laundry & utility: Basement utility area

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $270k.

Deal economics

• At list price, monthly cash flow is $50 ($601/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $242k (10.3% below list).
• Recommended offer: $242k (10.3% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 2.1% in Marquette — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 91/100 on livability (#5 in MI, #61 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment F.
• Marquette Area Public Schools (town): math 45% / reading 55% proficiency, ranked #106 of 540 in MI (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Sandy Knoll School (math 47% / reading 52%, grade D, #382 of 1,397 statewide, top 30%, 349 students, 37% FRL); Bothwell Middle School (math 47% / reading 56%, grade C, #102 of 493 statewide, top 21%, 711 students, 29% FRL); Marquette Senior High School (math 38% / reading 64%, grade D+, #142 of 713 statewide, top 20%, 915 students, 21% FRL).
• Market conditions: Rents rising fast (+4.3%/yr); 147 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 91 units permitted in Marquette County in 2024 (0 in 5+ unit buildings).
• At $2,422/mo this rent would consume 47% of the median local household income ($62k/yr) (locally 1714% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Marquette County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($266k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $220k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1898 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $242,200 (10.3% below list)

Questions for the listing agent

1. Built in 1898 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.90% ✗
• Cap rate: 6.52%
• Cash-on-cash: 0.80%
• DSCR: 1.04
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $228,540
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
539 W spring St	0.23mi	3/2.0	1,152 (-2%)	1mo	$225,000	$195	86
343 Fisher St	0.47mi	3/2.0	1,250 (+7%)	20mo	$232,800	$186	50

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 4.26% rent growth · sell at horizon

5-year hold

• IRR: -13.6%
• Equity multiple: 0.51×
• Total profit: $-37,402
• Equity at exit: $40,243

10-year hold

• IRR: -2.8%
• Equity multiple: 0.80×
• Total profit: $-15,229
• Equity at exit: $23,336

Cash invested: $75,572 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Michigan: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

7-day pay-or-quit; mixed climate; Detroit/AA have some protections.

Methodology + full state rankings →

ZIP-level market 49855

• Rents YoY: 4.3%
• Active inventory: 147
• Price-to-rent: 17.9×

Monthly cashflow live

• Estimated rent: $2,422 medium
• Mortgage (P&I): −$1,415
• Tax from tax record: −$335 /mo · $4,026/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$509
• Net cashflow: $50

Break-even live

Break-even rent $2,359

Max offer price $269,900

Occupancy floor 93%

Sensitivity live

Price	-10% $203	-5% $126	+0% $50	+5% $-26	+10% $-103
Rent	-10% $-141	-5% $-46	+0% $50	+5% $146	+10% $241
Rate	-1.0pp $186	-0.5pp $119	base $50	+0.5pp $-20	+1.0pp $-91

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,258
1× unit	1	1	$1,164
Total (2 units)			$2,422

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $67,475
• Closing costs: $8,097
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
406 E Park St Marquette, MI	2.0	1.0	800	$1,295	$1.62	45d	1	0.97mi

Listing history 26 events

1. 2026-06-22
   days on market $269,900 Active 26 DOM
2. 2026-06-19
   days on market $269,900 Active 23 DOM
3. 2026-06-18
   days on market $269,900 Active 22 DOM
4. 2026-06-17
   days on market $269,900 Active 21 DOM
5. 2026-06-16
   days on market $269,900 Active 20 DOM
6. 2026-06-15
   days on market $269,900 Active 19 DOM
7. 2026-06-14
   days on market $269,900 Active 17 DOM
8. 2026-06-12
   days on market $269,900 Active 16 DOM
9. 2026-06-09
   days on market $269,900 Active 13 DOM
10. 2026-06-08
    days on market $269,900 Active 12 DOM
11. 2026-06-07
    days on market $269,900 Active 11 DOM
12. 2026-06-03
    days on market $269,900 Active 7 DOM
13. 2026-06-02
    days on market $269,900 Active 6 DOM
14. 2026-06-01
    days on market $269,900 Active 5 DOM
15. 2026-05-31
    days on market $269,900 Active 4 DOM
16. 2026-05-30
    days on market $269,900 Active 3 DOM
17. 2026-05-27
    listed $269,900 Active 1136-char remark

    Show marketing remark (1140 chars)

    Charming duplex in the heart of Marquette! Exceptionally well maintained and ideally located near Northern Michigan University, the new hospital, the co-op, and Washington Street Park. This inviting property offers wonderful flexibility for owner-occupants or investors alike. The lower level features a spacious two-bedroom, one-bath layout with a comfortable living room, dining area, and a bright updated eat-in kitchen full of charm and functionality. A full basement, accessible from both the lower unit and back entrance, provides excellent storage and utility space. Upstairs, the adorable one-bedroom, one-bath apartment has a cozy “tree house” feel, complete with generous living space, a welcoming kitchen, and an abundance of natural light pouring through the many windows. Beautiful original hardwood floors shine upstairs and are also believed to be hidden beneath the downstairs carpeting, adding even more character and potential. With its classic charm, excellent location, and warm inviting feel, this is the perfect opportunity for an owner-occupied investment or a wonderful addition to your rental portfolio.

18. 2026-05-27
    listed $269,900 Active 1140-char remark

    Show marketing remark (1140 chars)

    Charming duplex in the heart of Marquette! Exceptionally well maintained and ideally located near Northern Michigan University, the new hospital, the co-op, and Washington Street Park. This inviting property offers wonderful flexibility for owner-occupants or investors alike. The lower level features a spacious two-bedroom, one-bath layout with a comfortable living room, dining area, and a bright updated eat-in kitchen full of charm and functionality. A full basement, accessible from both the lower unit and back entrance, provides excellent storage and utility space. Upstairs, the adorable one-bedroom, one-bath apartment has a cozy “tree house” feel, complete with generous living space, a welcoming kitchen, and an abundance of natural light pouring through the many windows. Beautiful original hardwood floors shine upstairs and are also believed to be hidden beneath the downstairs carpeting, adding even more character and potential. With its classic charm, excellent location, and warm inviting feel, this is the perfect opportunity for an owner-occupied investment or a wonderful addition to your rental portfolio.

19. 2026-05-26
    listed $269,900 Active 1140-char remark

    Show marketing remark (1136 chars)

    Charming duplex in the heart of Marquette! Exceptionally well maintained and ideally located near Northern Michigan University, the hospital, the co-op, and Washington Street Park. This inviting property offers wonderful flexibility for owner-occupants or investors alike. The lower level features a spacious two-bedroom, one-bath layout with a comfortable living room, dining area, and a bright updated eat-in kitchen full of charm and functionality. A full basement, accessible from both the lower unit and back entrance, provides excellent storage and utility space. Upstairs, the adorable one-bedroom, one-bath apartment has a cozy “tree house” feel, complete with generous living space, a welcoming kitchen, and an abundance of natural light pouring through the many windows. Beautiful original hardwood floors shine upstairs and are also believed to be hidden beneath the downstairs carpeting, adding even more character and potential. With its classic charm, excellent location, and warm inviting feel, this is the perfect opportunity for an owner-occupied investment or a wonderful addition to your rental portfolio.

20. 2026-05-26
    listed $269,900 Active 1136-char remark

    Show marketing remark (1136 chars)

    Charming duplex in the heart of Marquette! Exceptionally well maintained and ideally located near Northern Michigan University, the hospital, the co-op, and Washington Street Park. This inviting property offers wonderful flexibility for owner-occupants or investors alike. The lower level features a spacious two-bedroom, one-bath layout with a comfortable living room, dining area, and a bright updated eat-in kitchen full of charm and functionality. A full basement, accessible from both the lower unit and back entrance, provides excellent storage and utility space. Upstairs, the adorable one-bedroom, one-bath apartment has a cozy “tree house” feel, complete with generous living space, a welcoming kitchen, and an abundance of natural light pouring through the many windows. Beautiful original hardwood floors shine upstairs and are also believed to be hidden beneath the downstairs carpeting, adding even more character and potential. With its classic charm, excellent location, and warm inviting feel, this is the perfect opportunity for an owner-occupied investment or a wonderful addition to your rental portfolio.

21. 2022-12-13
    soldstatus $219,749
22. 2022-12-12
    soldstatus $219,749
23. 2022-12-12
    soldstatus $219,749 Closed
24. 2022-11-01
    historical
25. 2022-10-21
    listed $184,900
26. 2022-10-21
    listed $184,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MI · Partial reset (capped growth)

• Current annual tax: $4,026 · $335/mo
• Projected year-2 tax: $4,091 · $341/mo
• Expected delta: +$65/yr (+$5/mo · 1.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥91°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,064
• − Mortgage interest: −$15,119
• − Property taxes: −$4,026
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,325
• − Management: −$2,325
• − Depreciation: −$7,852
• Taxable loss: −$3,931
• Est. tax savings @ 24.0%: +$944
• After-tax cash flow: $1,544/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Marquette Area Public Schools
• NCES district ID: 2600013
• Math proficiency: 45% ▼ -2.00%
• Reading proficiency: 55% ▼ -5.00%
• Median HH income: $44,639
• Composite: 42.24/100
• National rank: #3280
• State rank: #106 of 540 in MI

Livability — Marquette

• Score: 91/100
• State rank: #5
• US rank: #61

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime A Employment F Housing A- Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marquette, MI
• County: Marquette County · 33,876 people
• City population: 33,876
• Metro: Marquette, MI
• Population (ZIP): 33,876
• Household income: $62,083
• Rent vs Own: 41.3% rent · 58.7% own
• Severe rent burden: 1714.0

Population outlook (Marquette County) Hauer SSP2

• Today (2025): 67,278 people
• By 2030: 67,249 · +-0.0%
• By 2040: 66,297 · -1.5%
• By 2050: 65,241 · -3.0%
• By 2075: 64,365 · -4.3%
• By 2100: 60,707 · -9.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Black 2% Hispanic / Latino 2%
• Common ancestry: Romanian 9% Lithuanian 7% Iranian 3%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 1%

Political lean MEDSL · Marquette

• 2024 margin: Lean D (+8.7) · D 53.5% · R 44.8% · Other 1.7%
• 2008→2024 swing: -11.6pp toward R · 2008: 20.3pp · 2024: 8.7pp
• All cycles: 2024: D+8.7 2020: D+11.2 2016: D+4.2 2012: D+14.1 2008: D+20.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -307.62%
• Current HPI: 281.1896
• Rent YoY: ▲ 4.26%
• Metro: Marquette, MI
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

Industry mix (Fortune 500 HQ in MI)

Industry	F500 HQs	Revenue
▸Automotive Parts	3	$48B
▸Automotive	2	$372B
▸Chemicals	1	$45B
▸Automotive Retail	1	$29B
▸Healthcare / Medical Devices	1	$23B
▸Automotive Technology	1	$20B

Price history

+46.0% since first listed

10 events — show timeline

• 2026-05-27 Listed $269,900 UPAR
• 2026-05-27 Listed $269,900 UPAR
• 2026-05-26 Listed $269,900 MiRealSource-MiMLS
• 2026-05-26 Listed $269,900 MiRealSource-MiMLS
• 2022-12-13 Sold (Public Records) $219,749 Public Records
• 2022-12-12 Sold (MLS) $219,749 UPAR
• 2022-12-12 Sold (MLS) $219,749 MiRealSource-MiMLS
• 2022-11-01 Delisted — UPAR
• 2022-10-21 Listed $184,900 UPAR
• 2022-10-21 Listed $184,900 MiRealSource-MiMLS

Property tax history

+42.4%/yr

Latest (2025): $4,026 · -2.9% YoY. Source: county tax records.