521 E F St Iron Mountain, MI 49801
Estimated payment $1,474/month
Highlights
- Porch
- 2 Car Attached Garage
- Forced Air Heating System
About This Home
Three-Unit Income Property – Iron Mountain’s East Side Don’t miss this excellent investment opportunity! This property features a nicely remodeled duplex along with a separate single-family residence — all fully rented to long-term tenants at strong rental rates that generate solid cash flow. The lower unit of the duplex has been taken down to the studs and completely rebuilt with a brand-new kitchen, bathroom, wiring, drywall, windows, and more. Both duplex units offer two bedrooms and one bathroom. Tenants also enjoy access to coin-operated laundry and additional storage space in the basement. The single-family residence has been fully updated inside and features one bedroom plus storage space in the drive-under garage. All rents include landlord-paid utilities, making this a simple and efficient property to manage. Whether you’re expanding your portfolio or looking for a reliable income stream, this property offers a turnkey investment in a desirable East Side location.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
Year Built
- Built in 1923
Lot Details
- 6,098 Sq Ft Lot
- Lot Dimensions are 50x120
Parking
- 2 Car Attached Garage
Interior Spaces
- 2-Story Property
- Laundry on lower level
Bedrooms and Bathrooms
- 5 Bedrooms
- 3 Full Bathrooms
Basement
- Partial Basement
- Block Basement Construction
Outdoor Features
- Porch
Utilities
- Forced Air Heating System
- Radiator
- Boiler Heating System
- Gas Water Heater
Community Details
- 3 Units
- Net Operating Income $32,000
Listing and Financial Details
- Assessor Parcel Number 051-103-698-00
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $3,497 | $61,300 | $61,300 | $0 |
| 2024 | $2,666 | $55,700 | $55,700 | $0 |
| 2023 | $1,544 | $34,300 | $0 | $0 |
| 2022 | $1,933 | $32,300 | $0 | $0 |
| 2021 | $1,871 | $31,400 | $0 | $0 |
| 2020 | $1,868 | $30,300 | $0 | $0 |
| 2019 | $1,818 | $29,200 | $0 | $0 |
| 2018 | $1,782 | $29,200 | $0 | $0 |
| 2017 | $1,318 | $28,500 | $0 | $0 |
| 2016 | $1,288 | $27,300 | $2,600 | $24,700 |
| 2014 | -- | $27,300 | $2,600 | $24,700 |
| 2012 | -- | $27,100 | $0 | $0 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/31/2025 07/31/25 | For Sale | $224,000 | +94.8% | $94 / Sq Ft |
| 10/13/2023 10/13/23 | Sold | $115,000 | -20.7% | $48 / Sq Ft |
| 09/20/2023 09/20/23 | Pending | -- | -- | -- |
| 08/17/2023 08/17/23 | Price Changed | $145,000 | -4.9% | $61 / Sq Ft |
| 08/08/2023 08/08/23 | Price Changed | $152,500 | -0.9% | $64 / Sq Ft |
| 07/20/2023 07/20/23 | Price Changed | $153,900 | -0.7% | $65 / Sq Ft |
| 06/23/2023 06/23/23 | For Sale | $155,000 | -- | $65 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | $115,000 | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $0 | Commercial |
Source: Upper Peninsula Association of REALTORS®
MLS Number: 50183682
APN: 051-103-698-00
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