Building Details

Year Built 1895

Listing Agency: Show Phone

Listed By: Tiffany Holtz | Coldwell Banker Show Phone

Source: Tiffanyholtz

Added: Jul 23 Changed: Aug 30 Last Checked: Aug 30 at 8:08AM

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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 Tiffany Holtz | Coldwell Banker

Investment Insights

Based on property information with market context.

Built in 1895, this 2,902-square-foot property is arranged as three residential units: a one-bedroom residence on the main level, a two-bedroom unit at the front of the upper floor, and a one-bedroom unit at the rear. Each unit has its own electrical service, while heat and water are shared. A detached two-car garage is included.

Located at 158 E Main St in Hortonville, Wisconsin, the property offers an existing multifamily configuration with an alternate residential layout. Minor modifications could allow the building to return to use as a single-family home, providing flexibility for an investor or owner-occupant.

Key Highlights

• 2,902‑square‑foot triplex built in 1895
• Main‑floor one‑bedroom unit
• Upper front two‑bedroom 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

$22,116

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

7.63%

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%

$442,320 $442.3K

Cap Rate 7%

$315,943 $315.9K

Cap Rate 9%

$245,733 $245.7K

Market Conditions

NOI Build-Up for 2,902 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

$33.1K $11.40/SF

− Vacancy

−$1.5K −$0.51/SF

EGI

$31.6K $10.89/SF

− OpEx

−$9.5K −$3.27/SF

NOI

$22.1K $7.62/SF

Area

Outagamie County, WI

Vacancy

4.50%

Lease Rate

$11.40 /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%

$442,320

Cap Rate 7%

$315,943

Cap Rate 9%

$245,733

Alternative Uses

Best Use

Multifamily LT 5

$315.9K

$276.5K – $368.6K (±1% cap)

NOI $22,116 @ 7.0% cap · market cap 7.63%

Second Best

Apartment 5plus

$295.7K

$258.8K – $345.0K (±1% cap)

NOI $20,701 @ 7.0% cap · market cap 7.14%

Theoretical Best

Office A

$800.1K

$700.1K – $933.5K (±1% cap)

NOI $56,009 @ 7.0% cap · market cap 19.32%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Triplexes

Suggested Use

Top Pick Real Estate Agency Restaurant Pharmacy Big Box & Wholesale Store Storage Facility Kitchen & Bath Showroom

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

Location Intelligence

Trade Area within ½ mile

209

Businesses Nearby

Explore this area Business Placement

Demographics for 54944, WI

9,380

Population

3,552

Households

2.6

Avg Household Size

41

Median Age

28%

College-Educated

97%

High-School Grad

68.9 sq mi

ZIP Area

136

Density / Sq Mi

$98,675

Median Household Income

$51,166

Median Earnings

$820

Median Rent

$318,400

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?

Triplex - Three-unit property with separate electrical service and a detached two-car garage.

Where is this triplex located?

The property is located at 158 E Main St Hortonville, WI.

What is the asking price?

The asking price for this property is $289,900.

What are key features of this property?

This property features: 2,902‑square‑foot triplex built in 1895; Main‑floor one‑bedroom unit; Upper front two‑bedroom unit