Two-Building Apartment
For Sale
$949,900
1842 Evans St, Oshkosh, WI 54901
Eight-unit multifamily property with recent systems, finish, and appliance improvements.
Property Size7,012 SF
Price / SF$135.47
Days on Market11
Property Features for 1842 Evans St
General Information
Standard status
Active
Size
7,012 SF
Additional Details
Multifamily Units
8
Building Details
Year Built
1969
Buildings
2
Listing Agency:
Coaction Real Estate, LLC
(920) 284-9732
Listed By:
Nicole M. Free · License #91950116
Source:
Smartteamhomes
Added: Aug 20
Changed: Aug 29
Last Checked: Aug 29 at 9:14PM
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 Coaction Real Estate, LLC
Investment Insights
Based on property information with market context.
This multifamily offering includes two four-unit apartment buildings totaling 7,012 square feet. Built in 1969, the property has received multiple updates, including five water heaters, a central air unit, flooring, paint, and appliances. The sale includes eight refrigerators, eight oven/ranges, and seven dishwashers.
Seven of the eight units are currently rented, and residents are responsible for all utilities. The buildings share a joint parking lot and are located at 1842 Evans St in Oshkosh, Wisconsin. The unit configuration, recent improvements, and included appliances provide a clearly defined apartment asset for a buyer evaluating an occupied multifamily property.
Seven of the eight units are currently rented, and residents are responsible for all utilities. The buildings share a joint parking lot and are located at 1842 Evans St in Oshkosh, Wisconsin. The unit configuration, recent improvements, and included appliances provide a clearly defined apartment asset for a buyer evaluating an occupied multifamily property.
Key Highlights
- Two four‑unit apartment buildings totaling 7,012 SF
- 7 of 8 units currently rented
- Five new water heaters and new central air 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
$42,646
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
4.49%
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%
$852,920
$852.9K
Cap Rate 7%
$609,229
$609.2K
Cap Rate 9%
$473,844
$473.8K
Market Conditions
NOI Build-Up for 7,012 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
$81.6K $11.64/SF
− Vacancy
−$4.1K −$0.58/SF
EGI
$77.5K $11.06/SF
− OpEx
−$34.9K −$4.98/SF
NOI
$42.6K $6.08/SF
Area
Winnebago County, WI
Vacancy
5.00%
Lease Rate
$11.64 /SF/Yr
Expense Ratio
45.00%
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%
$852,920
Cap Rate 7%
$609,229
Cap Rate 9%
$473,844
Alternative Uses
Best Use
Apartment 5plus
$609.2K
$533.1K – $710.8K
NOI $42,646 @ 7.0% cap · market cap 4.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.51M
$1.32M – $1.77M
NOI $105,941 @ 7.0% cap · market cap 11.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
321
Businesses Nearby
Explore this area
Business Placement
Demographics for 54901, WI
37,594
Population
15,381
Households
2.4
Avg Household Size
33
Median Age
24%
College-Educated
92%
High-School Grad
16.6 sq mi
ZIP Area
2,265
Density / Sq Mi
$61,734
Median Household Income
$31,289
Median Earnings
$932
Median Rent
$164,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Eight-unit multifamily property with recent systems, finish, and appliance improvements.
Where is this apartment building located?
The property is located at 1842 Evans St Oshkosh, WI.
What is the asking price?
The asking price for this property is $949,900.
What are key features of this property?
This property features: Two four‑unit apartment buildings totaling 7,012 SF; 7 of 8 units currently rented; Five new water heaters and new central air unit
