Refreshed Duplex with Two-Car
For Sale
$269,900
524 3RD Street, Menasha, WI 54952
Residential Income, MENASHA, WI
Property Size2,119 SF
Lot Size0.27 Acres
Price / SF$127.37
Days on Market98
Property Features for 524 3RD Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
2 Family/Duplex,Resident
Parking
4
Lot features
Near Bus Line, Sidewalk
Elementary school district
Menasha
Middle school district
Menasha
High school district
Menasha
Directions
From Racine street, turn East on 3rd St, property is on Left just after Walgreens
Standard status
Active
APN
10026000
Size
2,119 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3960
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Building Details
Year built
1910
Number of units
2
Building materials
Vinyl Siding
Listing Agency:
Expert Real Estate Partners, LLC
(920) 903-1600
Listed By:
Megan E. Lone · License #9069251
(920) 225-9627
Added: Jun 19
Changed: Sep 23
Last Checked: Sep 24 at 9:06PM
MLS# 50327777
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.
Investment Insights
Based on property information with market context.
This 2,119-square-foot duplex contains two side-by-side residences within a two-story configuration. The front unit includes two bedrooms, one and a half baths, and laundry in the full bath. The rear unit offers two bedrooms, one full bath, and laundry near the kitchen. Both units have received updates, and each is assigned a two-car garage. A dual-zone furnace system is being installed.
Built in 1910, the property has vinyl siding, forced-air heating, public water, and public sewer. It is zoned 2 Family/Duplex, Resident. The front residence is occupied, and showings require 24 hours' notice. Bus lines, everyday conveniences, and highway access are located nearby.
Built in 1910, the property has vinyl siding, forced-air heating, public water, and public sewer. It is zoned 2 Family/Duplex, Resident. The front residence is occupied, and showings require 24 hours' notice. Bus lines, everyday conveniences, and highway access are located nearby.
Key Highlights
- 2,119 square feet with two side‑by‑side residential units
- Each unit includes a two‑car garage
- Front unit has 2 bedrooms and 1.5 baths
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
$14,298
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
5.30%
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%
$285,960
$286.0K
Cap Rate 7%
$204,257
$204.3K
Cap Rate 9%
$158,867
$158.9K
Market Conditions
NOI Build-Up for 2,119 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
$21.6K $10.20/SF
− Vacancy
−$1.2K −$0.56/SF
EGI
$20.4K $9.64/SF
− OpEx
−$6.1K −$2.89/SF
NOI
$14.3K $6.75/SF
Area
Winnebago County, WI
Vacancy
5.50%
Lease Rate
$10.20 /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%
$285,960
Cap Rate 7%
$204,257
Cap Rate 9%
$158,867
Alternative Uses
Best Use
Multifamily LT 5
$204.3K
$178.7K – $238.3K
NOI $14,298 @ 7.0% cap · market cap 5.30%
Second Best
Apartment 5plus
$184.1K
$161.1K – $214.8K
NOI $12,888 @ 7.0% cap · market cap 4.78%
Theoretical Best
Office A
$457.4K
$400.2K – $533.6K
NOI $32,015 @ 7.0% cap · market cap 11.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
461
Businesses Nearby
Explore this area
Business Placement
Demographics for 54952, WI
27,216
Population
12,412
Households
2.2
Avg Household Size
39
Median Age
25%
College-Educated
93%
High-School Grad
28.1 sq mi
ZIP Area
969
Density / Sq Mi
$67,280
Median Household Income
$44,765
Median Earnings
$906
Median Rent
$190,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Side-by-side residences provide separate layouts, laundry areas, and dedicated garage parking for each unit.
Where is this duplex located?
The property is located at 524 3RD Street Menasha, WI.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: 2,119 square feet with two side‑by‑side residential units; Each unit includes a two‑car garage; Front unit has 2 bedrooms and 1.5 baths
