Updated Upper-Lower
For Sale
$220,000
2-220 Main St, Cornell, WI 54732
Two units offer private laundry, locked indoor storage, and off-street parking.
Property Size1,710 SF
Price / SF$128.65
Days on Market25
Property Features for 2-220 Main St
General Information
Standard status
Active
Size
1,710 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$908
Amenities
off street parking
yard
indoor storage
laundry in each unit
Building Details
Buildings
1
Abandoned
No
Listing Agency:
Woods & Water Realty Inc/Regional Office
(715) 559-2059
Listed By:
Emily Thompson · License #8369694
(715) 559-2059
Source:
Exprealty
Added: Jul 18
Changed: Aug 11
Last Checked: Aug 11 at 11:08AM
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 Woods & Water Realty Inc/Regional Office
Investment Insights
Based on property information with market context.
This upper-and-lower duplex in Cornell, Wisconsin, contains 1,710 square feet and has received multiple updates in recent years. The two-unit layout provides separate residential spaces within one building.
Each unit includes laundry facilities and a dedicated 10X10 locked indoor storage area. Off-street parking and a yard serve the property, adding practical outdoor and storage amenities for occupants. The property is located at 2-220 Main St in Cornell.
Each unit includes laundry facilities and a dedicated 10X10 locked indoor storage area. Off-street parking and a yard serve the property, adding practical outdoor and storage amenities for occupants. The property is located at 2-220 Main St in Cornell.
Key Highlights
- Upper‑and‑lower duplex with 1,710 square feet
- Updates completed over the past few years
- Each unit includes laundry facilities
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
$14,253
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
6.48%
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%
$285,060
$285.1K
Cap Rate 7%
$203,614
$203.6K
Cap Rate 9%
$158,367
$158.4K
Market Conditions
NOI Build-Up for 1,710 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
$21.5K $12.60/SF
− Vacancy
−$1.2K −$0.69/SF
EGI
$20.4K $11.91/SF
− OpEx
−$6.1K −$3.57/SF
NOI
$14.3K $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%
$285,060
Cap Rate 7%
$203,614
Cap Rate 9%
$158,367
Alternative Uses
Best Use
Multifamily LT 5
$203.6K
$178.2K – $237.6K
NOI $14,253 @ 7.0% cap · market cap 6.48%
Second Best
Apartment 5plus
$183.8K
$160.8K – $214.4K
NOI $12,866 @ 7.0% cap · market cap 5.85%
Theoretical Best
Warehouse
$949.3K
$830.7K – $1.11M
NOI $66,453 @ 7.0% cap · market cap 30.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
167
Businesses Nearby
Explore this area
Business Placement
Demographics for 54732, WI
2,820
Population
1,243
Households
2.3
Avg Household Size
42
Median Age
12%
College-Educated
91%
High-School Grad
97.6 sq mi
ZIP Area
29
Density / Sq Mi
$64,886
Median Household Income
$39,980
Median Earnings
$800
Median Rent
$173,300
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 - Two units offer private laundry, locked indoor storage, and off-street parking.
Where is this duplex located?
The property is located at 2-220 Main St Cornell, WI.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: Upper‑and‑lower duplex with 1,710 square feet; Updates completed over the past few years; Each unit includes laundry facilities
