Duplex with
For Sale
Under Contract
$297,500
16666-74 96th Avenue, Chippewa Falls, WI 54729
ResidentialIncome, Chippewa Falls, WI
Property Size3,244 SF
Price / SF$91.71
Days on Market107
Property Features for 16666-74 96th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential
Rooms
Basement
Patio and Porch features
Deck
Appliances
ElectricWaterHeater, Oven, Range, Refrigerator
Elementary school district
Chippewa Falls Area Unified
Middle school district
Chippewa Falls Area Unified
High school district
Chippewa Falls Area Unified
Directions
Hwy. S north of Wissota bridge. Turn Right on 96th Aven. Follow to left then right to sign
Standard status
Active Under Contract
APN
22908-2213-70368001
Size
3,244 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
Lot 1 of Certified Survey map
Tax Annual Amount
2035
Legal Description
Lot 1 of Certified Survey map
Utilities
Sewer type
Septic Tank
Heating system
Baseboard
Water source
Well
Building Details
Year built
1979
Number of units
2
Building materials
VinylSiding
Listing Agency:
RE/MAX Real Estate Group · RE/MAX International
(715) 835-6191
Listed By:
John Panzigrau · License #10243-94
(715) 559-8001
Added: May 5
Changed: Aug 19
Last Checked: Aug 19 at 11:06PM
MLS# 1600808
Copyright © 2026 REALTORS® Association of Northwestern Wisconsin. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex at 16666-74 96th Avenue in Chippewa Falls, WI includes a deck and basement level, with vinyl siding and baseboard heating. The home is supported by a well water source and a septic tank sewer system. Appliances include an electric water heater, oven, range, and refrigerator.
The owner reports no vacancy months during their 14 years of ownership. Tenants initially started with leases and are now month to month, and the tenants prefer to stay. The owner has refurbished units when tenants turned over.
A roofing contractor is scheduled to replace the shingles, with the owner currently waiting for that replacement.
The owner reports no vacancy months during their 14 years of ownership. Tenants initially started with leases and are now month to month, and the tenants prefer to stay. The owner has refurbished units when tenants turned over.
A roofing contractor is scheduled to replace the shingles, with the owner currently waiting for that replacement.
Key Highlights
- Owner reports no vacancy months during 14 years of ownership
- Tenants shifted from lease to month‑to‑month and prefer to stay
- 3,244 square feet duplex with basement
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
$27,038
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
9.09%
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%
$540,760
$540.8K
Cap Rate 7%
$386,257
$386.3K
Cap Rate 9%
$300,422
$300.4K
Market Conditions
NOI Build-Up for 3,244 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
$40.9K $12.60/SF
− Vacancy
−$2.2K −$0.69/SF
EGI
$38.6K $11.91/SF
− OpEx
−$11.6K −$3.57/SF
NOI
$27.0K $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%
$540,760
Cap Rate 7%
$386,257
Cap Rate 9%
$300,422
Alternative Uses
Best Use
Multifamily LT 5
$386.3K
$338.0K – $450.6K
NOI $27,038 @ 7.0% cap · market cap 9.09%
Second Best
Apartment 5plus
$348.7K
$305.1K – $406.8K
NOI $24,408 @ 7.0% cap · market cap 8.20%
Theoretical Best
Warehouse
$1.80M
$1.58M – $2.10M
NOI $126,067 @ 7.0% cap · market cap 42.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Explore this area
Business Placement
Demographics for 54729, WI
33,980
Population
15,386
Households
2.2
Avg Household Size
42
Median Age
30%
College-Educated
95%
High-School Grad
165.0 sq mi
ZIP Area
206
Density / Sq Mi
$76,603
Median Household Income
$44,792
Median Earnings
$1,022
Median Rent
$263,900
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 - Duplex built in 1979 with a deck, vinyl siding, baseboard heat, well and septic.
Where is this duplex located?
The property is located at 16666-74 96th Avenue Chippewa Falls, WI.
What is the asking price?
The asking price for this property is $297,500.
What are key features of this property?
This property features: Owner reports no vacancy months during 14 years of ownership; Tenants shifted from lease to month‑to‑month and prefer to stay; 3,244 square feet duplex with basement
