Two-House Multifamily
For Sale
$215,000
1347 McKinley Avenue, Beloit, WI 53511
Two houses share one parcel with natural gas service, forced-air heating, and R-1B zoning.
Property Size1,248 SF
Price / SF$172.28
Days on Market435
Property Features for 1347 McKinley Avenue
General Information
Standard status
Active
Size
1,248 SF
Property subtype
Multi Family / 1 story
Zoning
R-1B
Taxes and HOA fees
Annual Taxes
$1,230
Amenities
None, Block foundation
Natural Gas
Forced air
Sellers and tenants personal items.
2 stoves, 2 refrigerators
2
Vinyl
Building Details
Year Built
1954
Buildings
2
Units
2
Listing Agency:
Walker Realty Group, LLC
Listed By:
Mike Heiman · License #88657-94
(608) 563-0013
Source:
Compass
Added: Jun 27, 2025
Changed: Aug 30
Last Checked: Aug 30 at 4:49PM
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 Walker Realty Group, LLC
Investment Insights
Based on property information with market context.
This multifamily property includes two houses situated on a single parcel, with a combined property size of 1,248 square feet. The improvements date to 1954 and feature vinyl exteriors with block foundations. Natural gas service and forced-air systems are present, along with two stoves and two refrigerators.
The property carries R-1B zoning and is located in Beloit, Wisconsin. The configuration provides two residential structures within one multifamily holding, while the documented appliance package supports the existing residential setup.
The property carries R-1B zoning and is located in Beloit, Wisconsin. The configuration provides two residential structures within one multifamily holding, while the documented appliance package supports the existing residential setup.
Key Highlights
- Two houses located on one parcel
- 1,248 square feet of property size
- R‑1B zoning
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
$10,121
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
4.71%
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%
$202,420
$202.4K
Cap Rate 7%
$144,586
$144.6K
Cap Rate 9%
$112,456
$112.5K
Market Conditions
NOI Build-Up for 1,248 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
$19.2K $15.36/SF
− Vacancy
−$767 −$0.61/SF
EGI
$18.4K $14.75/SF
− OpEx
−$8.3K −$6.64/SF
NOI
$10.1K $8.11/SF
Area
Rock County, WI
Vacancy
4.00%
Lease Rate
$15.36 /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%
$202,420
Cap Rate 7%
$144,586
Cap Rate 9%
$112,456
Alternative Uses
Best Use
Apartment 5plus
$144.6K
$126.5K – $168.7K
NOI $10,121 @ 7.0% cap · market cap 4.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$299.9K
$262.4K – $349.9K
NOI $20,993 @ 7.0% cap · market cap 9.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
219
Businesses Nearby
Explore this area
Business Placement
Demographics for 53511, WI
48,659
Population
19,372
Households
2.5
Avg Household Size
38
Median Age
19%
College-Educated
89%
High-School Grad
114.9 sq mi
ZIP Area
423
Density / Sq Mi
$65,305
Median Household Income
$39,344
Median Earnings
$995
Median Rent
$160,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Two houses share one parcel with natural gas service, forced-air heating, and R-1B zoning.
Where is this multifamily property located?
The property is located at 1347 McKinley Avenue Beloit, WI.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Two houses located on one parcel; 1,248 square feet of property size; R‑1B zoning
