409 3rd St, Algoma, WI 54201
MULTI_FAMILY - Algoma, WI
- Added:
- Apr 22, 2026
- Days on Market:
- 49
- Last Refresh:
- Jun 9 at 4:06 am
Property Features for 409 3rd St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- C-1
- Bedrooms
- 7
- Bathrooms
- 4
- Rooms
- Bedroom 6, Bathroom 1, Bedroom 5, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 3, Bedroom 1, Bathroom 4, Bathroom 2, Bedroom 7
- Standard status
- Active
- Size
- 2,800 SF
- Lot size
- 0.21 Acres
Taxes and HOA fees
- Tax Annual Amount
- 3739
Utilities
- Heating system
- Heat Pump (Heating), Forced Air, Space Heater
Building Details
- Year built
- 1900
- Number of units
- 4
- Architectural style
- Other
Listing agent Heidi Neubauer License #94-59219 (920) 493-6289
Listing office ERA Starr Realty PO Box 167 14 S Third Ave, Sturgeon Bay, WI (920) 743-4321
Listing date Apr 22, 2026
Copyright © 2026 Door County MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- 4‑unit investment property in Algoma with $2,900 rent per month
- Roof is 2 years old
- Fresh paint completed last year
- 3 out of the 4 units were updated within the last 5 years
- Heating includes heat pump and forced air (also space heater)
Overview
The quadplex is located at 409 3rd St in Algoma, Wisconsin (Kewaunee County). The property is listed under C-1 zoning, which may be relevant for buyers evaluating use and compliance considerations. As a for-sale multifamily asset, it is positioned for tenants seeking everyday residential comfort within a community setting.
From an ownership and leasing standpoint, the recent attention to paint, roofing, and multiple unit updates can help reduce near-term maintenance concerns compared with a less recently refreshed building. Current reported gross rent is $2,900 per month. With three units updated in the last five years, this property may appeal to buyers looking for a quadplex with documented improvements already in place.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $37.0k | $13.20 |
| − Vacancy | −$2.0k | −$0.73 |
| EGI | $34.9k | $12.47 |
| − OpEx | −$10.5k | −$3.74 |
| NOI | $24.4k | $8.73 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Algoma
- County
- Kewaunee
- State
- Wisconsin
- Longitude
- -87.4377439
- Latitude
- 44.6092103
