Updated Duplex with Separate
For Sale
$219,900
306 South Watertown Street, Waupun, WI 53963
Two-story residential income property with extensive improvements and separate gas and electric service.
Property Size1,784 SF
Price / SF$123.26
Days on Market179
Property Features for 306 South Watertown Street
General Information
Standard status
Active
Size
1,784 SF
Property subtype
Multifamily / Duplex (2 Unit)
Zoning
Residential
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,243
Amenities
Forced Air
1
Natural Gas
2
Full
Stone
2 Story,2 Up and Down
Vinyl Siding
1st Floor Bedroom,1st Floor Full Bath,Level Drive,Level Lot,Low Pile Carpeting
Building Details
Year Built
1875
Buildings
1
Listing Agency:
Realty One Group Haven
(920) 252-2864
Listed By:
Carter L Crowley · License #94-81027
(920) 252-2864
Source:
Compass
Added: Mar 4
Changed: Aug 30
Last Checked: Aug 30 at 3:25AM
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 Realty One Group Haven
Investment Insights
Based on property information with market context.
This two-story duplex at 306 South Watertown Street includes 1,784 SF of residential space and was built in 1875. Recent improvements include new siding, windows, roofing, soffit, fascia, kitchens, bathrooms, and flooring. The upper unit also has a new furnace. Interior features include forced-air heat and natural gas service, while the exterior combines stone and vinyl siding with a level lot and driveway.
Each unit has separate gas and electric service. Water remains the landlord’s responsibility. The property is zoned Residential and offers a duplex configuration in Waupun, Wisconsin, with a first-floor bedroom and full bath among the listed features.
Each unit has separate gas and electric service. Water remains the landlord’s responsibility. The property is zoned Residential and offers a duplex configuration in Waupun, Wisconsin, with a first-floor bedroom and full bath among the listed features.
Key Highlights
- 1,784 SF duplex with a two‑story layout
- Extensive updates include siding, windows, roof, kitchens, bathrooms, and flooring
- Upper unit furnace has been replaced
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
$15,937
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
7.25%
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%
$318,740
$318.7K
Cap Rate 7%
$227,671
$227.7K
Cap Rate 9%
$177,078
$177.1K
Market Conditions
NOI Build-Up for 1,784 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
$23.5K $13.20/SF
− Vacancy
−$782 −$0.44/SF
EGI
$22.8K $12.76/SF
− OpEx
−$6.8K −$3.83/SF
NOI
$15.9K $8.93/SF
Area
Dodge County, WI
Vacancy
3.32%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
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%
$318,740
Cap Rate 7%
$227,671
Cap Rate 9%
$177,078
Alternative Uses
Best Use
Multifamily LT 5
$227.7K
$199.2K – $265.6K
NOI $15,937 @ 7.0% cap · market cap 7.25%
Second Best
Apartment 5plus
$211.0K
$184.6K – $246.2K
NOI $14,771 @ 7.0% cap · market cap 6.72%
Theoretical Best
Office A
$387.5K
$339.1K – $452.1K
NOI $27,128 @ 7.0% cap · market cap 12.34%
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
374
Businesses Nearby
Explore this area
Business Placement
Demographics for 53963, WI
14,078
Population
4,807
Households
2.9
Avg Household Size
39
Median Age
16%
College-Educated
91%
High-School Grad
89.8 sq mi
ZIP Area
157
Density / Sq Mi
$73,945
Median Household Income
$43,686
Median Earnings
$839
Median Rent
$182,900
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-story residential income property with extensive improvements and separate gas and electric service.
Where is this duplex located?
The property is located at 306 South Watertown Street Waupun, WI.
What is the asking price?
The asking price for this property is $219,900.
What are key features of this property?
This property features: 1,784 SF duplex with a two‑story layout; Extensive updates include siding, windows, roof, kitchens, bathrooms, and flooring; Upper unit furnace has been replaced
