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    215 MEYER Street Marion, WI 54950

    View on Map
    For Sale
    $180,000

    MULTI_FAMILY - MARION, WI

    Property size:
    1,937 SF
    Lot size:
    0.24 Acres
    Added:
    Jan 30, 2026
    Days on Market:
    61
    Last Refresh:
    Apr 1 at 9:06 am

    Property Features for 215 MEYER Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    2 Family/Duplex
    Parking
    3
    Standard status
    Active
    APN
    32 02 88 49
    Size
    1,937 SF
    Lot size
    0.24 Acres

    Taxes and HOA fees

    TaxYear
    2025
    TaxAnnualAmount
    2728

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Water source
    Public

    Building Details

    Year built
    1940
    Number of units
    2
    Building materials
    Vinyl Siding

    We can help!

    Listing Contact
    Gerry O'Connor
    Gerry O'Connor

    Listing agent Gerry O'Connor License #90-29527

    Listing office O'Connor Realty Group 95 S Main St, Clintonville, WI

    Listing date Jan 30, 2026

    MLS# 50320736

    Copyright © 2026 Realtor Association of Northeast Wisconsin. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Marion Duplex with Three-Car Garage

    Located on a corner lot in Marion, this duplex features distinct upper and lower units. The main-floor residence includes an eat-in kitchen equipped with a stove, refrigerator, and dishwasher. The living room is accented by a fireplace and built-in corner hutches. This unit contains three bedrooms and a full bathroom with a tub/shower combo. Hardwood flooring is present throughout much of the main level. The upper unit features a kitchen with a stove and refrigerator, as well as washer and dryer hookups. The living room includes a ceiling fan and a wall air conditioner. This unit offers two bedrooms and a full bathroom with a shower stall, enhanced by vaulted ceilings. The property includes a basement with exterior access, housing two furnaces, two water heaters, and a washer and dryer. A detached 3-car garage is also included. The property is situated on a 0.24-acre lot and has a property size of 1937 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Marion
    County
    Waupaca
    State
    Wisconsin
    Longitude
    -88.886407
    Latitude
    44.676508

    Nearby Similar for Sale

    • $175,900
      1,743 SF

      Marion Duplex with Income Potential

      Solid duplex with two units and detached three-car garage.
      304 S MAIN Street, MARION, WI 54950-9553
      View Details
    • $160,900
      2,008 SF

      Marion Duplex with Conversion Potential

      Upper/lower duplex in Marion, WI, with single-family conversion potential.
      709 N MAIN Street, MARION, WI 54950-9662
      View Details
    • $244,900
      2,100 SF

      Turnkey Restaurant Opportunity in Marion

      Well-kept commercial building with furnishings and equipment included.
      216 N Main St, Marion, WI 54950
      View Details

    FAQs

    What type of property is this?
    Duplex - Corner-lot duplex featuring unique upper and lower units.
    Where is this duplex located?
    The property is located at 215 MEYER Street Marion, WI.
    What is the asking price?
    The asking price for this property is $180,000.
    What are key features of this property?
    This property features: Corner‑lot duplex ideal for rental income or multi‑generational living.; Detached 3‑car garage provides ample parking and storage.; Main‑floor unit features hardwood flooring, a fireplace, and built‑in corner hutches.
    (715) 250-0744
    We can help!
    Listing Contact
    Gerry O'Connor
    Gerry O'Connor
    Real Estate License ID: 90-29527
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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