Building Details

Year Built 2009

Buildings 1

Listing Agency: Gerrard-Hoeschler, REALTORS

Listed By: David Snyder · License #62959-94 Show Phone

Source: Compass

Added: Jun 8 Changed: Sep 2 Last Checked: Aug 30 at 2:51PM

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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 Gerrard-Hoeschler, REALTORS

Investment Insights

Based on property information with market context.

Built in 2009, this side-by-side duplex offers a consistent layout across both residences. Each unit includes 3 bedrooms, 2 1/2 baths, an open kitchen connected to living and dining areas, a large pantry, and main-level laundry. The primary bedroom has its own bathroom, providing added privacy within each home.

Additional features include covered front porches, attached two-car garages, finished lower levels with egress windows, and dedicated storage. Outdoor space includes back yards with patios. The property is located on Hickory Street in Rockland, Wisconsin.

Key Highlights

• Side‑by‑side duplex with two residences
• Each unit includes 3 bedrooms and 2 1/2 baths
• Open kitchen, living, and dining arrangement in each unit

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

$13,927

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

3.40%

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%

$278,540 $278.5K

Cap Rate 7%

$198,957 $199.0K

Cap Rate 9%

$154,744 $154.7K

Market Conditions

NOI Build-Up for 1,542 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

$21.3K $13.80/SF

− Vacancy

−$1.4K −$0.90/SF

EGI

$19.9K $12.90/SF

− OpEx

−$6.0K −$3.87/SF

NOI

$13.9K $9.03/SF

Area

La Crosse County, WI

Vacancy

6.50%

Lease Rate

$13.80 /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%

$278,540

Cap Rate 7%

$198,957

Cap Rate 9%

$154,744

Alternative Uses

Best Use

Multifamily LT 5

$199.0K

$174.1K – $232.1K (±1% cap)

NOI $13,927 @ 7.0% cap · market cap 3.40%

Second Best

Apartment 5plus

$179.0K

$156.7K – $208.9K (±1% cap)

NOI $12,532 @ 7.0% cap · market cap 3.06%

Theoretical Best

Specialty Retail

$337.2K

$295.1K – $393.4K (±1% cap)

NOI $23,606 @ 7.0% cap · market cap 5.76%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Duplexes

Suggested Use

Top Pick Storage Facility Building Supply Garden Center Carpet & Flooring Store Daycare Center Gym & Fitness Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

33

Businesses Nearby

Explore this area Business Placement

Demographics for 54653, WI

1,199

Population

512

Households

2.3

Avg Household Size

37

Median Age

18%

College-Educated

96%

High-School Grad

21.6 sq mi

ZIP Area

56

Density / Sq Mi

$69,583

Median Household Income

$43,125

Median Earnings

$1,063

Median Rent

$253,500

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Duplex - Two-unit property built in 2009 with open-plan living areas, private primary baths, and finished lower levels.

Where is this duplex located?

The property is located at 1555 Hickory Street Unit 1557 Rockland, WI.

What is the asking price?

The asking price for this property is $410,000.

What are key features of this property?

This property features: Side‑by‑side duplex with two residences; Each unit includes 3 bedrooms and 2 1/2 baths; Open kitchen, living, and dining arrangement in each unit