Two-Story 4-Unit
For Sale
$299,800
202 South School Street, Mayville, WI 53050
Low-maintenance two-story quadplex with four units, including an efficiency, two one-bedrooms, and a two-bedroom.
Property Size2,905 SF
Price / SF$103.20
Days on Market153
Property Features for 202 South School Street
General Information
Standard status
Active
Size
2,905 SF
Property subtype
Multi-Family / Multi-Family
Net Operating Income
$22,200
Additional Details
Multifamily Units
4
Amenities
lower porches
upper balconies
coin laundry
Full, Yes
Vinyl
Building Details
Year Built
1898
Stories
2
Listing Agency:
Shorewest Realtors, Inc.
(262) 797-6453
Listed By:
The Roth Team* · License #23405-90
(262) 797-6453
Source:
Compass
Added: Mar 13
Changed: Aug 8
Last Checked: Jul 22 at 5:47PM
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 Shorewest Realtors, Inc.
Investment Insights
Based on property information with market context.
This low-maintenance, two-story 4-unit multifamily property includes one efficiency apartment, two one-bedroom units, and one two-bedroom unit. The building offers lower porches and upper balconies, with coin laundry on-site for additional tenant income.
The property is located at 202 South School Street in Mayville, near schools, restaurants, and local shops. Off-street parking is supported by two gravel driveways.
Each unit layout varies by bedroom count, and the property’s configuration is set up as a practical rental structure with existing long-term tenants in place.
The property is located at 202 South School Street in Mayville, near schools, restaurants, and local shops. Off-street parking is supported by two gravel driveways.
Each unit layout varies by bedroom count, and the property’s configuration is set up as a practical rental structure with existing long-term tenants in place.
Key Highlights
- Two‑story quadplex built in 1898 featuring 4 units: 1 efficiency, 2 one‑bedroom, and 1 two‑bedroom
- Full basement and vinyl construction materials
- Lower porches and upper balconies
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
$25,951
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
8.66%
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%
$519,020
$519.0K
Cap Rate 7%
$370,729
$370.7K
Cap Rate 9%
$288,344
$288.3K
Market Conditions
NOI Build-Up for 2,905 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
$38.3K $13.20/SF
− Vacancy
−$1.3K −$0.44/SF
EGI
$37.1K $12.76/SF
− OpEx
−$11.1K −$3.83/SF
NOI
$26.0K $8.93/SF
Area
Dodge County, WI
Vacancy
3.32%
Lease Rate
$13.20 /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%
$519,020
Cap Rate 7%
$370,729
Cap Rate 9%
$288,344
Alternative Uses
Best Use
Multifamily LT 5
$370.7K
$324.4K – $432.5K
NOI $25,951 @ 7.0% cap · market cap 8.66%
Second Best
Apartment 5plus
$343.6K
$300.7K – $400.9K
NOI $24,053 @ 7.0% cap · market cap 8.02%
Theoretical Best
Office A
$631.1K
$552.2K – $736.3K
NOI $44,175 @ 7.0% cap · market cap 14.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
303
Businesses Nearby
Explore this area
Business Placement
Demographics for 53050, WI
7,071
Population
3,120
Households
2.3
Avg Household Size
45
Median Age
17%
College-Educated
92%
High-School Grad
70.5 sq mi
ZIP Area
100
Density / Sq Mi
$69,818
Median Household Income
$45,844
Median Earnings
$860
Median Rent
$195,600
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?
Quadplex - Low-maintenance two-story quadplex with four units, including an efficiency, two one-bedrooms, and a two-bedroom.
Where is this quadplex located?
The property is located at 202 South School Street Mayville, WI.
What is the asking price?
The asking price for this property is $299,800.
What are key features of this property?
This property features: Two‑story quadplex built in 1898 featuring 4 units: 1 efficiency, 2 one‑bedroom, and 1 two‑bedroom; Full basement and vinyl construction materials; Lower porches and upper balconies
