Four-Unit Multifamily
For Sale
$305,000
209 Park St E, Rhinelander, WI 54501
Leased residential income property with two levels and open-concept layouts in Rhinelander.
Property Size2,486 SF
Days on Market91
Property Features for 209 Park St E
General Information
Standard status
Active
Size
2,486 SF
Property subtype
Multi Family Home
Occupancy
100%
Additional Details
Gross Income
$25,680
Taxes and HOA fees
Annual Taxes
$1,993
Building Details
Building Size
2,486 SF
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Twenty-Two Re LLC
(715) 493-3179
Listed By:
Luke Durkee · License #60337 - 90
(715) 493-3179
Source:
Pinepointrealty
Added: May 6
Changed: Aug 3
Last Checked: Aug 3 at 7:43AM
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 Twenty-Two Re LLC
Investment Insights
Based on property information with market context.
This four-unit multifamily property at 209 Park St E in Rhinelander, Wisconsin, is arranged across two levels. Units 1 and 3 occupy the main level, while Units 2 and 4 are situated above. Most residences use open-concept floor plans that connect the kitchen, dining, and living areas.
All four units are currently leased. Gas, electric, water, and garbage service are paid by the owner because the residences are not separately metered. The property provides a straightforward two-level configuration with established occupancy and individually identified units.
All four units are currently leased. Gas, electric, water, and garbage service are paid by the owner because the residences are not separately metered. The property provides a straightforward two-level configuration with established occupancy and individually identified units.
Key Highlights
- Four‑unit multifamily property with Units 1 and 3 on the main level and Units 2 and 4 above
- All four units are currently leased
- Most floor plans feature open‑concept kitchen, dining, and living areas
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $25.4k | $10.20 |
| − Vacancy | −$4.7k | −$1.88 |
| EGI | $20.7k | $8.32 |
| − OpEx | −$6.2k | −$2.50 |
| NOI | $14.5k | $5.83 |
2,486 SF · lease $10.20/SF/yr · vacancy 18.40% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$206.9K
$181.1K – $241.4K
NOI $14,484 @ 7.0% cap · market cap 4.75%
Second Best
Apartment 5plus
$194.5K
$170.2K – $227.0K
NOI $13,618 @ 7.0% cap · market cap 4.46%
Theoretical Best
Industrial
$1.16M
$1.02M – $1.36M
NOI $81,450 @ 7.0% cap · market cap 26.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
842
Businesses Nearby
Explore this area
Business Placement
Demographics for 54501, WI
20,591
Population
12,754
Households
1.6
Avg Household Size
48
Median Age
26%
College-Educated
96%
High-School Grad
366.3 sq mi
ZIP Area
56
Density / Sq Mi
$68,602
Median Household Income
$37,578
Median Earnings
$831
Median Rent
$194,900
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 - Leased residential income property with two levels and open-concept layouts in Rhinelander.
Where is this quadplex located?
The property is located at 209 Park St E Rhinelander, WI.
What is the asking price?
The asking price for this property is $305,000.
What are key features of this property?
This property features: Four‑unit multifamily property with Units 1 and 3 on the main level and Units 2 and 4 above; All four units are currently leased; Most floor plans feature open‑concept kitchen, dining, and living areas
