Updated Two-Unit
209 N 2nd Avenue, Wausau, WI 54401
For Sale
New
$169,900
Both apartments have separate furnaces, water heaters, and electrical panels, with alley access to parking for three vehicles.
Property Size728 SF
Price / SF$233.38
Days on Market4
Property Features for 209 N 2nd Avenue
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Building Details
Year Built
Listing Agency:
First Weber
Listed By:
Kelly Weiler
(715) 965-1234
Source:
Familytreerealtyllc
Added: Nov 4
Changed: Nov 5
Last Checked: Nov 6 at 8:51AM
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 First Weber
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Investment Insights
Based on property information with market context.
This 1890 duplex contains two apartments, each with two bedrooms, one full bath, a living room, and a kitchen. The upper apartment’s second bedroom has no closet. The lower unit received a remodel and new wiring in 2019; its furnace was also replaced that year. The upper unit has newer wiring in place for a future remodel. Each apartment has its own furnace, water heater, and electrical panel, with newer 100 AMP panels in both units. Appliances included vary by unit: the lower has a range, refrigerator, and dishwasher, while the upper includes a range and refrigerator.
Additional work includes replacement windows in 2017, carpeting in 2019, gutters in 2021, a new back deck/porch and water heater in 2023, and a front deck/porch replaced in October 2026. The City of Wausau replaced the water line between the basement and street in 2025. The blacktopped parking area accommodates up to three vehicles and is accessible from the alley. Upper and lower leases run through 9/30/2027 and 6/28/2027, respectively.
Additional work includes replacement windows in 2017, carpeting in 2019, gutters in 2021, a new back deck/porch and water heater in 2023, and a front deck/porch replaced in October 2026. The City of Wausau replaced the water line between the basement and street in 2025. The blacktopped parking area accommodates up to three vehicles and is accessible from the alley. Upper and lower leases run through 9/30/2027 and 6/28/2027, respectively.
Key Highlights
- Two apartments, each with 2 bedrooms and 1 full bath
- Separate furnaces, water heaters, and newer 100 AMP electrical panels for each unit
- Lower apartment remodeled with new wiring in 2019; furnace replaced the same year
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,087
Cap Rate
3.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$121,740
$121.7K
Cap Rate 7%
$86,957
$87.0K
Cap Rate 9%
$67,633
$67.6K
Market Conditions
NOI Build-Up for 728 SF
Gross rent
$9.2K $12.60/SF
− Vacancy
−$477 −$0.66/SF
EGI
$8.7K $11.94/SF
− OpEx
−$2.6K −$3.58/SF
NOI
$6.1K $8.36/SF
Area
Marathon County, WI
Vacancy
5.20%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$121,740
Cap Rate 7%
$86,957
Cap Rate 9%
$67,633
Alternative Uses
Best Use
Multifamily LT 5
$87.0K
$76.1K – $101.5K
NOI $6,087 @ 7.0% cap · market cap 3.58%
Second Best
Apartment 5plus
$78.4K
$68.6K – $91.5K
NOI $5,489 @ 7.0% cap · market cap 3.23%
Theoretical Best
Specialty Retail
$134.5K
$117.7K – $156.9K
NOI $9,415 @ 7.0% cap · market cap 5.54%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,063
Businesses Nearby
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Business Placement
Demographics for 54401, WI
31,727
Population
14,230
Households
2.2
Avg Household Size
40
Median Age
31%
College-Educated
91%
High-School Grad
84.2 sq mi
ZIP Area
377
Density / Sq Mi
$69,542
Median Household Income
$40,796
Median Earnings
$969
Median Rent
$186,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Both apartments have separate furnaces, water heaters, and electrical panels, with alley access to parking for three vehicles.
Where is this duplex located?
The property is located at 209 N 2nd Avenue Wausau, WI.
What is the asking price?
The asking price for this property is $169,900.
What are key features of this property?
This property features: Two apartments, each with 2 bedrooms and 1 full bath; Separate furnaces, water heaters, and newer 100 AMP electrical panels for each unit; Lower apartment remodeled with new wiring in 2019; furnace replaced the same year
