Updated Two-Unit
304 East 4th Street Manawa, WI 54949
304 East 4th Street, Manawa, WI, 54949
$149,900
For Sale
$149,900
Upper and lower 2 bed, 1 bath units are updated, with recent roof and mechanical replacements and month-to-month tenant leases.
Property Size1,808 SF
Price / SF$82.91
Days on Market37
Property Features for 304 East 4th Street
General Information
- Standard status
- Active
- Size
- 1,808 SF
- Property subtype
- Multifamily / Duplex (2 Unit)
Building Details
- Year Built
- 1920
Listing agency
EXP Realty LLC
(920) 393-0697
Listed by
Ben Westein · License #94-115082
(920) 393-0697
Source
Compass
Added: Jun 15 Updated: Jul 21 at 2:55PM Checked: Jul 21 at 2:55PM
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 EXP Realty LLC
Investment Insights
Based on property information with market context.
This updated two-unit duplex at 304 East 4th Street in Manawa, WI features an upper and a lower unit, each with 2 bedrooms and 1 bathroom. Both units have been updated within the last five years. Recent improvements include a new roof installed in 2025, as well as replacement of the upper unit furnace and the shared water heater in 2023–2024. The property is currently occupied with tenants in both units on month-to-month leases, and tenants pay their own utilities separately.
No interior photos are available per tenants’ request. The lower unit has a pet odor that will require remediation, and the property does not currently have gutters. The asking price reflects the current condition, with mechanical and roof work already addressed and the remaining items positioned for the next owner to manage.
No interior photos are available per tenants’ request. The lower unit has a pet odor that will require remediation, and the property does not currently have gutters. The asking price reflects the current condition, with mechanical and roof work already addressed and the remaining items positioned for the next owner to manage.
Key Highlights
- Manawa duplex (2 story: 2 up and down) built in 1920 with 2 bedrooms and 1 bathroom per unit
- Both upper and lower units updated within the last five years
- New roof installed in 2025; upper unit furnace and shared water heater replaced in 2023–2024
Local 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 | $18.4k | $10.20 |
| − Vacancy | −$1.2k | −$0.66 |
| EGI | $17.2k | $9.54 |
| − OpEx | −$5.2k | −$2.86 |
| NOI | $12.1k | $6.68 |
1,808 SF · lease $10.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$172.4K
$150.9K – $201.2K
NOI $12,070 @ 7.0% cap · market cap 8.05%
Second Best
Apartment 5plus
$161.1K
$141.0K – $187.9K
NOI $11,276 @ 7.0% cap · market cap 7.52%
Theoretical Best
Office A
$338.7K
$296.3K – $395.1K
NOI $23,706 @ 7.0% cap · market cap 15.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Upper and lower 2 bed, 1 bath units are updated, with recent roof and mechanical replacements and month-to-month tenant leases.
Where is this duplex located?
The property is located at 304 East 4th Street Manawa, WI.
What is the asking price?
The asking price for this property is $149,900.
What are key features of this property?
This property features: Manawa duplex (2 story: 2 up and down) built in 1920 with 2 bedrooms and 1 bathroom per unit; Both upper and lower units updated within the last five years; New roof installed in 2025; upper unit furnace and shared water heater replaced in 2023–2024
