Renovated 4-Unit
New
For Sale
$499,900
1860 EVANS Street, Oshkosh, WI 54901
Updated apartments include individual climate control, appliances, parking, and basement storage lockers.
Property Size3,504 SF
Price / SF$142.67
Days on Market7
Property Features for 1860 EVANS Street
General Information
Standard status
Active
Size
3,504 SF
Property subtype
Multi Family
Occupancy
75%
Additional Details
Average Monthly Rent
$850
Utilities to Site
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$5,937
Amenities
oven/range
refrigerator
dishwasher
central air
outdoor parking
basement storage lockers
laundry hookups
Building Details
Building Size
3,504 SF
Year Built
1969
Buildings
1
Tenancy
Multi
Listing Agency:
Coaction Real Estate, LLC
(920) 284-9732
Listed By:
Nicole M. Free · License #91-950116
(920) 284-9732
Source:
C21ace
Added: Aug 17
Changed: Aug 22
Last Checked: Aug 22 at 11:12AM
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 3,504-square-foot quadplex was built in 1969 and has undergone a full renovation. The property contains four residential units, each equipped with an oven/range, refrigerator, dishwasher, and central air. Outdoor parking serves the building, while refreshed flooring and paint improve the shared areas.
The full, dry basement provides one storage locker per tenant, along with four furnaces and four water heaters. Laundry hookups are also installed in the basement. Three units are occupied and one is vacant. Tenants are responsible for gas, electric, water, and sewer. Located at 1860 Evans Street in Oshkosh, Wisconsin.
The full, dry basement provides one storage locker per tenant, along with four furnaces and four water heaters. Laundry hookups are also installed in the basement. Three units are occupied and one is vacant. Tenants are responsible for gas, electric, water, and sewer. Located at 1860 Evans Street in Oshkosh, Wisconsin.
Key Highlights
- Four‑unit quadplex with full renovation completed
- 3,504 SF building constructed in 1969
- Three units occupied; one unit vacant
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
$23,643
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
4.73%
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%
$472,860
$472.9K
Cap Rate 7%
$337,757
$337.8K
Cap Rate 9%
$262,700
$262.7K
Market Conditions
NOI Build-Up for 3,504 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
$35.7K $10.20/SF
− Vacancy
−$2.0K −$0.56/SF
EGI
$33.8K $9.64/SF
− OpEx
−$10.1K −$2.89/SF
NOI
$23.6K $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%
$472,860
Cap Rate 7%
$337,757
Cap Rate 9%
$262,700
Alternative Uses
Best Use
Multifamily LT 5
$337.8K
$295.5K – $394.1K
NOI $23,643 @ 7.0% cap · market cap 4.73%
Second Best
Apartment 5plus
$304.4K
$266.4K – $355.2K
NOI $21,311 @ 7.0% cap · market cap 4.26%
Theoretical Best
Office A
$756.3K
$661.8K – $882.3K
NOI $52,940 @ 7.0% cap · market cap 10.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
75%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Updated apartments include individual climate control, appliances, parking, and basement storage lockers.
Where is this quadplex located?
The property is located at 1860 EVANS Street Oshkosh, WI.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Four‑unit quadplex with full renovation completed; 3,504 SF building constructed in 1969; Three units occupied; one unit vacant
