Turn-of-the-Century
For Sale
$229,900
1115 Harrison St, Superior, WI 54880
A duplex with spacious, woodwork-rich units, in-unit laundry, and basement access for flexible residential income use.
Property Size2,730 SF
Days on Market83
Property Features for 1115 Harrison St
General Information
Standard status
Active
Size
2,730 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,010
Building Details
Building Size
2,730 SF
Year Built
1911
Listing Agency:
RE/MAX Results
(218) 349-0267
Listed By:
Maria Letsos · License #RA-20373112
(218) 349-0267
Source:
Visionsfirstrealty
Added: Jun 2
Changed: Aug 7
Last Checked: Aug 23 at 2:24AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Results
Investment Insights
Based on property information with market context.
This turn-of-the-century duplex offers two spacious units with original-style character features, including natural woodwork and hardwood floors. Each unit includes a formal dining room with a built-in hutch, creating a distinct, traditional layout. In-unit laundry is available in both units, and each also provides access to basement space, which can support additional storage or other household needs.
The property is located near UWS, positioning it for tenants seeking proximity to the university area. With two separate units, the building provides a straightforward residential income configuration for an owner-operator or an investor looking for a duplex format.
From a tenant-fit perspective, the combination of in-unit laundry, hardwood flooring, and dedicated formal dining space can appeal to households looking for more than basic finishes. For buyers, the basement access tied to each unit adds practical functionality beyond the main living areas. The duplex structure and mirrored interior attributes make it well-suited for owners seeking a manageable two-unit residential income property at 1115 Harrison St in Superior, WI.
The property is located near UWS, positioning it for tenants seeking proximity to the university area. With two separate units, the building provides a straightforward residential income configuration for an owner-operator or an investor looking for a duplex format.
From a tenant-fit perspective, the combination of in-unit laundry, hardwood flooring, and dedicated formal dining space can appeal to households looking for more than basic finishes. For buyers, the basement access tied to each unit adds practical functionality beyond the main living areas. The duplex structure and mirrored interior attributes make it well-suited for owners seeking a manageable two-unit residential income property at 1115 Harrison St in Superior, WI.
Key Highlights
- Duplex built in 1911 near UWS
- Spacious units with natural woodwork and hardwood floors
- Both units feature formal dining rooms with a built‑in hutch
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
$20,027
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
8.71%
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%
$400,540
$400.5K
Cap Rate 7%
$286,100
$286.1K
Cap Rate 9%
$222,522
$222.5K
Market Conditions
NOI Build-Up for 2,730 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
$38.3K $14.04/SF
− Vacancy
−$1.9K −$0.70/SF
EGI
$36.4K $13.34/SF
− OpEx
−$16.4K −$6.00/SF
NOI
$20.0K $7.34/SF
Area
Douglas County, WI
Vacancy
5.00%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
45.00%
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%
$400,540
Cap Rate 7%
$286,100
Cap Rate 9%
$222,522
Alternative Uses
Best Use
Multifamily LT 5
$325.1K
$284.4K – $379.2K
NOI $22,754 @ 7.0% cap · market cap 9.90%
Second Best
Apartment 5plus
$286.1K
$250.3K – $333.8K
NOI $20,027 @ 7.0% cap · market cap 8.71%
Theoretical Best
Specialty Retail
$860.7K
$753.2K – $1.00M
NOI $60,252 @ 7.0% cap · market cap 26.21%
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
988
Businesses Nearby
Explore this area
Business Placement
Demographics for 54880, WI
30,400
Population
14,325
Households
2.1
Avg Household Size
39
Median Age
28%
College-Educated
94%
High-School Grad
166.1 sq mi
ZIP Area
183
Density / Sq Mi
$66,942
Median Household Income
$40,813
Median Earnings
$901
Median Rent
$176,700
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 - A duplex with spacious, woodwork-rich units, in-unit laundry, and basement access for flexible residential income use.
Where is this duplex located?
The property is located at 1115 Harrison St Superior, WI.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: Duplex built in 1911 near UWS; Spacious units with natural woodwork and hardwood floors; Both units feature formal dining rooms with a built‑in hutch
