Updated Ranch-Style
For Sale
$162,900
Pending
413 N 8th Street A & B, Cornell, WI 54732
Two residential units with documented improvements, including updated windows, kitchen cabinetry, insulation, and drainage features.
Property Size1,440 SF
Days on Market735
Property Features for 413 N 8th Street A & B
General Information
Standard status
Pending
Size
1,440 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,394
Building Details
Year Built
1977
Buildings
1
Construction
ranch-style
Listing Agency:
Elite Realty Group, LLC
(715) 830-1001
Listed By:
Mary Rufledt · License #55432-90
(715) 830-1001
Source:
Exitrealty
Added: Aug 28, 2024
Changed: Aug 31
Last Checked: Aug 31 at 3:47PM
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 Elite Realty Group, LLC
Investment Insights
Based on property information with market context.
Built in 1977, this ranch-style duplex contains two residential units within a 1,440-square-foot property. Unit A includes a refreshed living room floor, while Unit B features replacement kitchen cabinets. Both units benefit from all-new windows installed in 2018, and the property includes a sump pump added in 2022.
Additional work includes attic air sealing and re-insulation completed in 2014, perimeter drain tile, and foam insulation in the crawl space. The improvements were post-tested by Focus on Energy to confirm compliance with its specifications. The property is positioned near shopping, schools, and parks in Cornell, Wisconsin.
Additional work includes attic air sealing and re-insulation completed in 2014, perimeter drain tile, and foam insulation in the crawl space. The improvements were post-tested by Focus on Energy to confirm compliance with its specifications. The property is positioned near shopping, schools, and parks in Cornell, Wisconsin.
Key Highlights
- Two‑unit ranch‑style duplex built in 1977
- 1,440‑square‑foot property with two residential units
- All‑new windows installed in 2018
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
$12,002
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
7.37%
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%
$240,040
$240.0K
Cap Rate 7%
$171,457
$171.5K
Cap Rate 9%
$133,356
$133.4K
Market Conditions
NOI Build-Up for 1,440 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
$18.1K $12.60/SF
− Vacancy
−$998 −$0.69/SF
EGI
$17.1K $11.91/SF
− OpEx
−$5.1K −$3.57/SF
NOI
$12.0K $8.33/SF
Area
Chippewa County, WI
Vacancy
5.50%
Lease Rate
$12.60 /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%
$240,040
Cap Rate 7%
$171,457
Cap Rate 9%
$133,356
Alternative Uses
Best Use
Multifamily LT 5
$171.5K
$150.0K – $200.0K
NOI $12,002 @ 7.0% cap · market cap 7.37%
Second Best
Apartment 5plus
$154.8K
$135.4K – $180.6K
NOI $10,835 @ 7.0% cap · market cap 6.65%
Theoretical Best
Warehouse
$799.4K
$699.5K – $932.7K
NOI $55,961 @ 7.0% cap · market cap 34.35%
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
135
Businesses Nearby
Explore this area
Business Placement
Demographics for 54732, WI
2,820
Population
1,243
Households
2.3
Avg Household Size
42
Median Age
12%
College-Educated
91%
High-School Grad
97.6 sq mi
ZIP Area
29
Density / Sq Mi
$64,886
Median Household Income
$39,980
Median Earnings
$800
Median Rent
$173,300
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 - Two residential units with documented improvements, including updated windows, kitchen cabinetry, insulation, and drainage features.
Where is this duplex located?
The property is located at 413 N 8th Street A & B Cornell, WI.
What is the asking price?
The asking price for this property is $162,900.
What are key features of this property?
This property features: Two‑unit ranch‑style duplex built in 1977; 1,440‑square‑foot property with two residential units; All‑new windows installed in 2018
