Income Duplex with Garage
1117 Wheeler Street Janesville, WI 53545
1117 Wheeler Street, Janesville, WI, 53545
$249,013
For Sale
$249,013
Two-unit duplex includes separate garage rentals and two 2-bedroom, 1-bath residential units.
Property Size1,800 SF
Price / SF$138.34
Days on Market129
Property Features for 1117 Wheeler Street
General Information
- Standard status
- Active
- Size
- 1,800 SF
- Property subtype
- Multi Family / 2 story
Building Details
- Year Built
- 1890
Listing agency
EXIT Realty HGM
(608) 931-9448
Listed by
Dillon Burke · License #95221-94
(608) 931-9448
Source
Compass
Added: Mar 16 Updated: Jul 21 at 8:11AM Checked: Jul 21 at 8:11AM
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 EXIT Realty HGM
Investment Insights
Based on property information with market context.
This income-producing 2-unit duplex includes two separate garage rentals, creating additional revenue alongside the residential units. Each unit has 2 bedrooms and 1 bath, and the upper unit includes a bonus room off the primary bedroom. The building features private entries for tenant separation and separate utilities, with the owner paying water (H20).
The property is located at 1117 Wheeler Street in Janesville, Wisconsin. The two units are configured as upper and lower residences, with the garage rentals positioned as a separate income component.
As an investor package, it is described as generating over $27,000 in gross annual income and offers the opportunity to manage the property as a combined residential and garage rental operation.
The property is located at 1117 Wheeler Street in Janesville, Wisconsin. The two units are configured as upper and lower residences, with the garage rentals positioned as a separate income component.
As an investor package, it is described as generating over $27,000 in gross annual income and offers the opportunity to manage the property as a combined residential and garage rental operation.
Key Highlights
- Income‑producing 2‑unit duplex with two separate garage rentals
- Both upper and lower units have 2 bedrooms and 1 bath
- Upper unit includes a bonus room off the primary bedroom
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 | $24.8k | $13.80 |
| − Vacancy | −$1.1k | −$0.62 |
| EGI | $23.7k | $13.18 |
| − OpEx | −$7.1k | −$3.95 |
| NOI | $16.6k | $9.23 |
1,800 SF · lease $13.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$237.2K
$207.6K – $276.8K
NOI $16,606 @ 7.0% cap · market cap 6.67%
Second Best
Apartment 5plus
$208.5K
$182.5K – $243.3K
NOI $14,598 @ 7.0% cap · market cap 5.86%
Theoretical Best
Office A
$432.6K
$378.5K – $504.7K
NOI $30,279 @ 7.0% cap · market cap 12.16%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Two-unit duplex includes separate garage rentals and two 2-bedroom, 1-bath residential units.
Where is this duplex located?
The property is located at 1117 Wheeler Street Janesville, WI.
What is the asking price?
The asking price for this property is $249,013.
What are key features of this property?
This property features: Income‑producing 2‑unit duplex with two separate garage rentals; Both upper and lower units have 2 bedrooms and 1 bath; Upper unit includes a bonus room off the primary bedroom
