Upstairs-Downstairs Duplex
For Sale
$160,000
1825 Minnesota Street, Oshkosh, WI 54902
Upstairs and downstairs duplex with separate electric meters, two bedrooms per unit, and a detached two-car garage.
Property Size1,984 SF
Price / SF$80.65
Days on Market332
Property Features for 1825 Minnesota Street
General Information
Standard status
Active
Size
1,984 SF
Total Parking Spaces
2
Property subtype
Multifamily / Duplex (2 Unit)
Zoning
Residential
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,210
Amenities
Forced Air
1
Natural Gas
Full
Poured Concrete
2 Story,2 Up and Down,Other-See Remarks
Vinyl Siding
1st Floor Bedroom,1st Floor Full Bath
Building Details
Year Built
1910
Buildings
1
Stories
2
Listing Agency:
Redfin Corporation
Listed By:
Eric Hegwer · License #0620991
(512) 537-2582
Source:
Compass
Added: Oct 10, 2025
Changed: Aug 8
Last Checked: Jul 20 at 10:05PM
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 Redfin Corporation
Investment Insights
Based on property information with market context.
This upstairs/downstairs duplex offers two separate living areas with a layout that includes two bedrooms per unit, along with a living room and dining room on the lower level, and additional bedrooms and a separate room that would be used as a kitchen on the upper level. Each unit includes a full bath on the lower level, and there is a full unfinished basement. The property also includes a detached two-car garage.
Separate electric meters are in place, supporting use as a multi-family configuration. The sale is being offered as-is.
The lower unit features two bedrooms, a living room, dining room, kitchen, and a full bath. The upper level includes two bedrooms, a living area, and a room that would be used as a kitchen.
Separate electric meters are in place, supporting use as a multi-family configuration. The sale is being offered as-is.
The lower unit features two bedrooms, a living room, dining room, kitchen, and a full bath. The upper level includes two bedrooms, a living area, and a room that would be used as a kitchen.
Key Highlights
- Upstairs/downstairs duplex on over 1/2 acre with separate electric meters
- Each unit layout includes 2 bedrooms, plus living and dining areas and a kitchen
- Downstairs unit has 2 beds, living room, dining room, kitchen, and a full bath
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
$13,387
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
8.37%
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%
$267,740
$267.7K
Cap Rate 7%
$191,243
$191.2K
Cap Rate 9%
$148,744
$148.7K
Market Conditions
NOI Build-Up for 1,984 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
$20.2K $10.20/SF
− Vacancy
−$1.1K −$0.56/SF
EGI
$19.1K $9.64/SF
− OpEx
−$5.7K −$2.89/SF
NOI
$13.4K $6.75/SF
Area
Winnebago County, WI
Vacancy
5.50%
Lease Rate
$10.20 /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%
$267,740
Cap Rate 7%
$191,243
Cap Rate 9%
$148,744
Alternative Uses
Best Use
Multifamily LT 5
$191.2K
$167.3K – $223.1K
NOI $13,387 @ 7.0% cap · market cap 8.37%
Second Best
Apartment 5plus
$172.4K
$150.8K – $201.1K
NOI $12,066 @ 7.0% cap · market cap 7.54%
Theoretical Best
Office A
$428.2K
$374.7K – $499.6K
NOI $29,975 @ 7.0% cap · market cap 18.73%
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
265
Businesses Nearby
Explore this area
Business Placement
Demographics for 54902, WI
22,309
Population
10,800
Households
2.1
Avg Household Size
40
Median Age
27%
College-Educated
94%
High-School Grad
35.0 sq mi
ZIP Area
637
Density / Sq Mi
$64,548
Median Household Income
$41,592
Median Earnings
$859
Median Rent
$163,900
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 - Upstairs and downstairs duplex with separate electric meters, two bedrooms per unit, and a detached two-car garage.
Where is this duplex located?
The property is located at 1825 Minnesota Street Oshkosh, WI.
What is the asking price?
The asking price for this property is $160,000.
What are key features of this property?
This property features: Upstairs/downstairs duplex on over 1/2 acre with separate electric meters; Each unit layout includes 2 bedrooms, plus living and dining areas and a kitchen; Downstairs unit has 2 beds, living room, dining room, kitchen, and a full bath
