Updated Two-Unit
For Sale
$139,900
304 E 4TH Street, Manawa, WI 54949
Residential Income, MANAWA, WI
Property Size1,808 SF
Lot Size0.30 Acres
Price / SF$77.38
Days on Market129
Property Features for 304 E 4TH Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Residential
Elementary school district
Manawa
Middle school district
Manawa
High school district
Manawa
Directions
From downtown Manawa, take Bridge st South to E 4th st. Property on North side of the road on corner lot.
Standard status
Active
APN
31 15 33 10
Size
1,808 SF
Lot size
0.30 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2269
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1920
Number of units
2
Building materials
Brick, Vinyl Siding, Shake Siding
Listing Agency:
EXP Realty LLC
(866) 848-6990
Listed By:
Ben Westein · License #94115082
(920) 393-0697
Added: Jun 24
Changed: Oct 29
Last Checked: Oct 30 at 4:06AM
MLS# 50328050
Copyright © 2026 Realtor Association of Northeast Wisconsin. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 1,808-square-foot duplex contains two residential units, each with 2 bedrooms and 1 bathroom. Both units received updates within the last five years. The property was built in 1920 and has brick, vinyl siding, and shake siding exterior materials, along with forced-air heating and central air conditioning.
Recent capital work includes a roof installed in 2025, plus replacement of the upper-unit furnace and shared water heater during 2023-2024. Both units are occupied under month-to-month leases, with tenants responsible for their own utilities. The 0.3-acre property is served by public water and public sewer and carries Residential zoning.
The lower unit has a pet odor requiring remediation, and the building currently lacks gutters. These conditions are relevant to planning near-term property work.
Recent capital work includes a roof installed in 2025, plus replacement of the upper-unit furnace and shared water heater during 2023-2024. Both units are occupied under month-to-month leases, with tenants responsible for their own utilities. The 0.3-acre property is served by public water and public sewer and carries Residential zoning.
The lower unit has a pet odor requiring remediation, and the building currently lacks gutters. These conditions are relevant to planning near-term property work.
Key Highlights
- Two‑unit duplex totaling 1808 square feet on a 0.3‑acre lot
- Each unit offers 2 bedrooms and 1 bathroom
- Both units updated within the last five years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,070
Cap Rate
8.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$241,400
$241.4K
Cap Rate 7%
$172,429
$172.4K
Cap Rate 9%
$134,111
$134.1K
Market Conditions
NOI Build-Up for 1,808 SF
Gross rent
$18.4K $10.20/SF
− Vacancy
−$1.2K −$0.66/SF
EGI
$17.2K $9.54/SF
− OpEx
−$5.2K −$2.86/SF
NOI
$12.1K $6.68/SF
Area
Waupaca County, WI
Vacancy
6.50%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$241,400
Cap Rate 7%
$172,429
Cap Rate 9%
$134,111
Alternative Uses
Best Use
Multifamily LT 5
$172.4K
$150.9K – $201.2K
NOI $12,070 @ 7.0% cap · market cap 8.63%
Second Best
Apartment 5plus
$161.1K
$141.0K – $187.9K
NOI $11,276 @ 7.0% cap · market cap 8.06%
Theoretical Best
Office A
$338.7K
$296.3K – $395.1K
NOI $23,706 @ 7.0% cap · market cap 16.94%
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
131
Businesses Nearby
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Business Placement
Demographics for 54949, WI
3,554
Population
1,764
Households
2
Avg Household Size
43
Median Age
13%
College-Educated
94%
High-School Grad
65.6 sq mi
ZIP Area
54
Density / Sq Mi
$84,286
Median Household Income
$43,391
Median Earnings
$835
Median Rent
$192,200
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 - Residential-zoned duplex with recent unit updates and major mechanical improvements.
Where is this duplex located?
The property is located at 304 E 4TH Street Manawa, WI.
What is the asking price?
The asking price for this property is $139,900.
What are key features of this property?
This property features: Two‑unit duplex totaling 1808 square feet on a 0.3‑acre lot; Each unit offers 2 bedrooms and 1 bathroom; Both units updated within the last five years
