Upper-Lower Duplex with
For Sale
$220,000
220 Main Street, Cornell, WI 54732
ResidentialIncome, Cornell, WI
Property Size1,710 SF
Lot Size0.16 Acres
Price / SF$128.65
Days on Market44
Property Features for 220 Main Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Elementary school district
Cornell
Middle school district
Cornell
High school district
Cornell
Directions
From Hwy 27 coming into Cornell, travel straight onto 3rd Street. Turn left onto Main Street.
Standard status
Active
APN
23106173261490802
Size
1,710 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
909
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
off street parking
yard
indoor storage
laundry in each unit
Building Details
Year built
1930
Number of units
2
Building materials
Brick, VinylSiding
Listing Agency:
Woods & Water Realty Inc/Regional Office
(715) 723-4663
Listed By:
Emily Thompson · License #83696-94
(715) 559-2059
Added: Jul 18
Changed: Aug 19
Last Checked: Aug 30 at 2:06PM
MLS# 1603373
Copyright © 2026 REALTORS® Association of Northwestern Wisconsin. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,710-square-foot duplex has an upper-and-lower configuration within a 1930-built property on a 0.16-acre lot. Each unit includes laundry and a locked 10X10 indoor storage area. The property also offers off-street parking, a yard, a basement, brick and vinyl siding, forced-air heating, and central air conditioning.
Located at 220 Main Street in Cornell, the property is served by public water and public sewer. Its two-level unit arrangement and separate storage provisions provide a clear residential income property configuration.
Located at 220 Main Street in Cornell, the property is served by public water and public sewer. Its two-level unit arrangement and separate storage provisions provide a clear residential income property configuration.
Key Highlights
- Upper‑and‑lower duplex configuration
- 1,710 square feet on a 0.16‑acre lot
- Each unit has laundry and a locked 10X10 indoor storage area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$14,253
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.48%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$285,060
$285.1K
Cap Rate 7%
$203,614
$203.6K
Cap Rate 9%
$158,367
$158.4K
Market Conditions
NOI Build-Up for 1,710 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$21.5K $12.60/SF
− Vacancy
−$1.2K −$0.69/SF
EGI
$20.4K $11.91/SF
− OpEx
−$6.1K −$3.57/SF
NOI
$14.3K $8.33/SF
Area
Chippewa County, WI
Vacancy
5.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$285,060
Cap Rate 7%
$203,614
Cap Rate 9%
$158,367
Alternative Uses
Best Use
Multifamily LT 5
$203.6K
$178.2K – $237.6K
NOI $14,253 @ 7.0% cap · market cap 6.48%
Second Best
Apartment 5plus
$183.8K
$160.8K – $214.4K
NOI $12,866 @ 7.0% cap · market cap 5.85%
Theoretical Best
Warehouse
$949.3K
$830.7K – $1.11M
NOI $66,453 @ 7.0% cap · market cap 30.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
167
Businesses Nearby
Explore this area
Business Placement
Demographics for 54732, WI
2,820
Population
1,243
Households
2.3
Avg Household Size
42
Median Age
12%
College-Educated
91%
High-School Grad
97.6 sq mi
ZIP Area
29
Density / Sq Mi
$64,886
Median Household Income
$39,980
Median Earnings
$800
Median Rent
$173,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Upper and lower units include individual laundry, off-street parking, and locked indoor storage.
Where is this duplex located?
The property is located at 220 Main Street Cornell, WI.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: Upper‑and‑lower duplex configuration; 1,710 square feet on a 0.16‑acre lot; Each unit has laundry and a locked 10X10 indoor storage area
