Duplex with Finished Lower
1506 East Main Street Watertown, WI 53094
1506 East Main Street, Watertown, WI, 53094
$279,900
Pending
For Sale
$279,900
Pending
Well-maintained duplex offers two 2-bedroom, 1-bath units plus a finished lower level with a bonus room and full bath.
Property Size1,800 SF
Days on Market34
Property Features for 1506 East Main Street
General Information
- Standard status
- Pending
- Size
- 1,800 SF
- Property subtype
- Two-Family / Two Family
Building Details
- Year Built
- 1935
Listing agency
EXP Realty, LLC~MKE
(920) 404-0478
Listed by
Perry Guirau · License #91449-94
(920) 404-0478
Source
Compass
Added: Jun 19 Updated: Jul 21 at 2:41PM Checked: Jul 21 at 2:41PM
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 EXP Realty, LLC~MKE
Investment Insights
Based on property information with market context.
This well-maintained duplex provides two spacious 2-bedroom, 1-bath units. The finished lower level adds additional flexible space, including a bonus room and a full bathroom. The property is set on a generous lot with ample outdoor space.
Located in Watertown, the home is described as convenient to shopping, dining, schools, parks, and major commuter routes.
For buyers seeking a straightforward owner-occupant or rental setup, the property’s two-unit configuration and additional finished lower-level space are designed to support a variety of day-to-day living arrangements.
Located in Watertown, the home is described as convenient to shopping, dining, schools, parks, and major commuter routes.
For buyers seeking a straightforward owner-occupant or rental setup, the property’s two-unit configuration and additional finished lower-level space are designed to support a variety of day-to-day living arrangements.
Key Highlights
- Well‑maintained duplex built in 1935 with two 2‑bedroom, 1‑bath units
- Each unit offers 5 rooms, totaling an estimated 1,800 SF
- Finished lower level includes a bonus room and a full bathroom
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 | $23.8k | $13.20 |
| − Vacancy | −$789 | −$0.44 |
| EGI | $23.0k | $12.76 |
| − OpEx | −$6.9k | −$3.83 |
| NOI | $16.1k | $8.93 |
1,800 SF · lease $13.20/SF/yr · vacancy 3.32% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$229.7K
$201.0K – $268.0K
NOI $16,080 @ 7.0% cap · market cap 5.74%
Second Best
Apartment 5plus
$212.9K
$186.3K – $248.4K
NOI $14,903 @ 7.0% cap · market cap 5.32%
Theoretical Best
Office A
$391.0K
$342.2K – $456.2K
NOI $27,372 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Well-maintained duplex offers two 2-bedroom, 1-bath units plus a finished lower level with a bonus room and full bath.
Where is this duplex located?
The property is located at 1506 East Main Street Watertown, WI.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: Well‑maintained duplex built in 1935 with two 2‑bedroom, 1‑bath units; Each unit offers 5 rooms, totaling an estimated 1,800 SF; Finished lower level includes a bonus room and a full bathroom
