Updated Two-Unit
For Sale
$264,900
Pending
215-217 West Haertel Street, Portage, WI 53901
Two-unit residential property with refreshed interiors and newer heating and cooling systems.
Property Size2,750 SF
Days on Market233
Property Features for 215-217 West Haertel Street
General Information
Standard status
Pending
Size
2,750 SF
Property subtype
Multi Family / Duplex-side by side
Zoning
RES
Taxes and HOA fees
Annual Taxes
$5,688
Amenities
Full, Partially finished, Poured concrete foundatn
Natural Gas
Forced air
tenant and seller personal items
washer/dryer, stove, fridge, dishwasher
1
2
Aluminum/Steel, Pressed board
Building Details
Year Built
1954
Units
2
Listing Agency:
NextHome Midwest
(608) 381-4799
Listed By:
Chris Alexander · License #59248-90
(608) 381-4799
Source:
Compass
Added: Jan 8
Changed: Aug 29
Last Checked: Mar 25 at 8:49PM
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 NextHome Midwest
Investment Insights
Based on property information with market context.
Built in 1954, this RES-zoned duplex contains two residential sides at 215-217 W Haertel Street. Recent improvements include newer air-conditioning systems and furnaces, while both units have been repainted. The two-unit layout supports separate occupancy, including the option to reside in one side while leasing the other, subject to applicable requirements.
Key Highlights
- Two‑unit duplex at 215‑217 W Haertel Street
- RES zoning
- Built in 1954
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
$21,954
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
8.29%
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%
$439,080
$439.1K
Cap Rate 7%
$313,629
$313.6K
Cap Rate 9%
$243,933
$243.9K
Market Conditions
NOI Build-Up for 2,750 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
$42.2K $15.36/SF
− Vacancy
−$2.3K −$0.84/SF
EGI
$39.9K $14.52/SF
− OpEx
−$18.0K −$6.53/SF
NOI
$22.0K $7.98/SF
Area
Columbia County, WI
Vacancy
5.50%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
45.00%
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%
$439,080
Cap Rate 7%
$313,629
Cap Rate 9%
$243,933
Alternative Uses
Best Use
Multifamily LT 5
$359.7K
$314.7K – $419.6K
NOI $25,178 @ 7.0% cap · market cap 9.50%
Second Best
Apartment 5plus
$313.6K
$274.4K – $365.9K
NOI $21,954 @ 7.0% cap · market cap 8.29%
Theoretical Best
Office A
$617.8K
$540.6K – $720.8K
NOI $43,247 @ 7.0% cap · market cap 16.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
183
Businesses Nearby
Explore this area
Business Placement
Demographics for 53901, WI
14,924
Population
6,550
Households
2.3
Avg Household Size
42
Median Age
20%
College-Educated
91%
High-School Grad
147.3 sq mi
ZIP Area
101
Density / Sq Mi
$72,244
Median Household Income
$40,914
Median Earnings
$969
Median Rent
$214,300
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?
Duplex - Two-unit residential property with refreshed interiors and newer heating and cooling systems.
Where is this duplex located?
The property is located at 215-217 West Haertel Street Portage, WI.
What is the asking price?
The asking price for this property is $264,900.
What are key features of this property?
This property features: Two‑unit duplex at 215‑217 W Haertel Street; RES zoning; Built in 1954
