5-Unit Apartment Building with
For Sale
$850,000
3004-3012 ROSS AVENUE, Schofield, WI 54476
Multi-Family, WESTON W, WI
Property Size6,144 SF
Lot Size0.41 Acres
Price / SF$138.35
Days on Market54
Property Features for 3004-3012 ROSS AVENUE
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Multi-Family
Bedrooms
14
Bathrooms
9
Full bathrooms
9
Rooms
Bathroom 7, Bedroom 14, Bedroom 1, Bedroom 13, Bedroom 11, Bedroom 2, Bedroom 6, Bathroom 5, Bathroom 1, Bedroom 12, Bathroom 9, Bathroom 8, Bedroom 5, Bathroom 4, Bedroom 10, Bedroom 8, Bedroom 9, Bedroom 4, Bathroom 3, Bedroom 3, Bedroom 7, Bathroom 2, Bathroom 6
Interior features
Ceiling Fan(s), Vinyl Floors, Wood Floors
Appliances
Refrigerator, Range, Dishwasher
Directions
SEE ADDITIONAL REMARKS
Subdivision
Wausau
Standard status
Active
Lot size
0.41 Acres
Taxes and HOA fees
Tax Year
2025
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1993
Floors in Building
2
Building materials
Brick, Vinyl, Wood
Roof type
Shingle
Listing Agency:
REMAX EXCEL · RE/MAX International
(715) 849-5544
Listed By:
VICKI SCHAAR · License #5068894
(715) 551-2776
Added: Jun 30
Changed: Aug 19
Last Checked: Aug 22 at 7:06AM
MLS# 22603101
Copyright © 2026 Central Wisconsin MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This meticulously maintained five-unit apartment complex was custom-built in 1990. Exterior features include cedar siding with aluminum fascia and soffits, a brick-trimmed front, and window shutters. Inside, units offer open floor plans with oak kitchen cabinets, snack bars, patio doors, and private decks. Ranges and refrigerators are included in each unit, and several units feature gas fireplaces along with updated flooring and paint.
The property is currently in active exterior renovation, with a new roof featuring architectural shingles scheduled to begin July 12. Exterior work is also underway, including painting, gutter repairs, and replacement of deck boards and any compromised wood.
Occupancy is mixed: Unit 3012 is owner-occupied, Units 3004, 3006, and 3010 are rented on month-to-month agreements, and Unit 3008 is vacant and being painted and readied for lease.
The property is currently in active exterior renovation, with a new roof featuring architectural shingles scheduled to begin July 12. Exterior work is also underway, including painting, gutter repairs, and replacement of deck boards and any compromised wood.
Occupancy is mixed: Unit 3012 is owner-occupied, Units 3004, 3006, and 3010 are rented on month-to-month agreements, and Unit 3008 is vacant and being painted and readied for lease.
Key Highlights
- 5‑unit complex with over 6,144 sq. ft. in the DC Everest area
- Unit 3012 is owner‑occupied; Units 3004, 3006, and 3010 are rented on month‑to‑month agreements
- Unit 3008 is vacant and being painted, ready for lease
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
$46,325
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
5.45%
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%
$926,500
$926.5K
Cap Rate 7%
$661,786
$661.8K
Cap Rate 9%
$514,722
$514.7K
Market Conditions
NOI Build-Up for 6,144 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
$88.5K $14.40/SF
− Vacancy
−$4.2K −$0.69/SF
EGI
$84.2K $13.71/SF
− OpEx
−$37.9K −$6.17/SF
NOI
$46.3K $7.54/SF
Area
Marathon County, WI
Vacancy
4.80%
Lease Rate
$14.40 /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%
$926,500
Cap Rate 7%
$661,786
Cap Rate 9%
$514,722
Alternative Uses
Best Use
Apartment 5plus
$661.8K
$579.1K – $772.1K
NOI $46,325 @ 7.0% cap · market cap 5.45%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.14M
$993.3K – $1.32M
NOI $79,460 @ 7.0% cap · market cap 9.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
80%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
256
Businesses Nearby
Explore this area
Business Placement
Demographics for 54476, WI
19,668
Population
8,574
Households
2.3
Avg Household Size
39
Median Age
24%
College-Educated
94%
High-School Grad
42.0 sq mi
ZIP Area
468
Density / Sq Mi
$76,132
Median Household Income
$43,962
Median Earnings
$972
Median Rent
$211,300
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?
Apartment building - Five-unit building built in 1990, with private decks, ranges and refrigerators included, and exterior renovations underway.
Where is this apartment building located?
The property is located at 3004-3012 ROSS AVENUE Schofield, WI.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 5‑unit complex with over 6,144 sq. ft. in the DC Everest area; Unit 3012 is owner‑occupied; Units 3004, 3006, and 3010 are rented on month‑to‑month agreements; Unit 3008 is vacant and being painted, ready for lease
