Two-Unit Duplex with Separate
New
For Sale
$225,000
23 N John St, Mayville, WI 53050
Corner-lot duplex with a vacant lower unit, rear driveway, and storage areas in the basement and attic.
Property Size2,346 SF
Price / SF$95.91
Days on Market2
Property Features for 23 N John St
General Information
Standard status
Active
Size
2,346 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1890
Listing Agency:
RE/MAX Results
Listed By:
Realty Executives Southeast
(262) 443-0030
Source:
Therealestatestudiowi
Added: Sep 6
Last Checked: Sep 7 at 7:33AM
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 RE/MAX Results
Investment Insights
Based on property information with market context.
Built in 1890, this two-family duplex contains two 2-bedroom, 1-bath units with separate utilities. The lower residence is vacant, creating flexibility for an owner-occupant or a buyer seeking an income property. The home retains period character while offering practical storage in a fieldstone basement and unfinished attic.
The property occupies a corner lot at 23 N John St in Mayville, Wisconsin, with a rear driveway. Recent work includes a newer roof and landscaping, while electrical updates are currently underway. A professional pre-listing inspection has been completed and is available to serious buyers upon request.
The property occupies a corner lot at 23 N John St in Mayville, Wisconsin, with a rear driveway. Recent work includes a newer roof and landscaping, while electrical updates are currently underway. A professional pre-listing inspection has been completed and is available to serious buyers upon request.
Key Highlights
- Two 2‑bedroom, 1‑bath units
- Separate utilities for each unit
- Lower unit is currently vacant
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
$19,424
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
8.63%
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%
$388,480
$388.5K
Cap Rate 7%
$277,486
$277.5K
Cap Rate 9%
$215,822
$215.8K
Market Conditions
NOI Build-Up for 2,346 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
$36.6K $15.60/SF
− Vacancy
−$1.3K −$0.55/SF
EGI
$35.3K $15.05/SF
− OpEx
−$15.9K −$6.77/SF
NOI
$19.4K $8.28/SF
Area
Dodge County, WI
Vacancy
3.50%
Lease Rate
$15.60 /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%
$388,480
Cap Rate 7%
$277,486
Cap Rate 9%
$215,822
Alternative Uses
Best Use
Multifamily LT 5
$299.4K
$262.0K – $349.3K
NOI $20,957 @ 7.0% cap · market cap 9.31%
Second Best
Apartment 5plus
$277.5K
$242.8K – $323.7K
NOI $19,424 @ 7.0% cap · market cap 8.63%
Theoretical Best
Office A
$509.6K
$445.9K – $594.6K
NOI $35,674 @ 7.0% cap · market cap 15.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
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
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Frequently Asked Questions
What type of property is this?
Duplex - Corner-lot duplex with a vacant lower unit, rear driveway, and storage areas in the basement and attic.
Where is this duplex located?
The property is located at 23 N John St Mayville, WI.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units; Separate utilities for each unit; Lower unit is currently vacant
