Two-Story Duplex with Separate
For Sale
$140,000
639 Alban St, Rhinelander, WI 54501
One unit is leased while the other is available, with updated flooring, select replacement windows, and laundry hookups.
Property Size2,304 SF
Price / SF$60.76
Days on Market10
Property Features for 639 Alban St
General Information
Standard status
Active
Size
2,304 SF
Property subtype
Multi-Family
Listing Agency:
REDMAN REALTY GROUP, LLC
(715) 358-5263
Listed By:
Lisa Alsteen · License #42484
Source:
Dreamnorthre
Added: Aug 20
Changed: Aug 29
Last Checked: Aug 25 at 3:44AM
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 REDMAN REALTY GROUP, LLC
Investment Insights
Based on property information with market context.
This 2-story duplex contains 2,304 square feet across two residential units. The upper residence is occupied by a long-term tenant, while the lower residence is vacant and available for lease. Recent improvements include newer flooring and updates to some windows. The lower unit also has washer and dryer hookups for tenant-supplied appliances.
The property is located at 639 Alban St in Rhinelander, near parks, shopping, schools, and downtown. Separate meters and separate water bills serve the two units, providing distinct utility arrangements for each residence. Rear parking is available for tenants.
The property is located at 639 Alban St in Rhinelander, near parks, shopping, schools, and downtown. Separate meters and separate water bills serve the two units, providing distinct utility arrangements for each residence. Rear parking is available for tenants.
Key Highlights
- 2,304 SF 2‑story duplex at 639 Alban St, Rhinelander, WI 54501
- Upper unit occupied by a long‑term renter; lower unit is vacant
- Separate meters and separate water bills for the two units
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
$12,621
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
9.01%
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%
$252,420
$252.4K
Cap Rate 7%
$180,300
$180.3K
Cap Rate 9%
$140,233
$140.2K
Market Conditions
NOI Build-Up for 2,304 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
$27.6K $12.00/SF
− Vacancy
−$4.7K −$2.04/SF
EGI
$22.9K $9.96/SF
− OpEx
−$10.3K −$4.48/SF
NOI
$12.6K $5.48/SF
Area
Oneida County, WI
Vacancy
17.00%
Lease Rate
$12.00 /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%
$252,420
Cap Rate 7%
$180,300
Cap Rate 9%
$140,233
Alternative Uses
Best Use
Multifamily LT 5
$191.8K
$167.8K – $223.7K
NOI $13,424 @ 7.0% cap · market cap 9.59%
Second Best
Apartment 5plus
$180.3K
$157.8K – $210.4K
NOI $12,621 @ 7.0% cap · market cap 9.01%
Theoretical Best
Industrial
$1.08M
$943.6K – $1.26M
NOI $75,487 @ 7.0% cap · market cap 53.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
426
Businesses Nearby
Explore this area
Business Placement
Demographics for 54501, WI
20,591
Population
12,754
Households
1.6
Avg Household Size
48
Median Age
26%
College-Educated
96%
High-School Grad
366.3 sq mi
ZIP Area
56
Density / Sq Mi
$68,602
Median Household Income
$37,578
Median Earnings
$831
Median Rent
$194,900
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 - One unit is leased while the other is available, with updated flooring, select replacement windows, and laundry hookups.
Where is this duplex located?
The property is located at 639 Alban St Rhinelander, WI.
What is the asking price?
The asking price for this property is $140,000.
What are key features of this property?
This property features: 2,304 SF 2‑story duplex at 639 Alban St, Rhinelander, WI 54501; Upper unit occupied by a long‑term renter; lower unit is vacant; Separate meters and separate water bills for the two units
