Four-Unit Property with Detached
For Sale
$314,900
317 N WASHINGTON Street, Waupaca, WI 54981
Fully occupied quadplex with flexible month-to-month tenancy and a detached garage.
Property Size3,695 SF
Price / SF$85.22
Days on Market60
Property Features for 317 N WASHINGTON Street
General Information
Standard status
Active
Size
3,695 SF
Total Parking Spaces
2
Property subtype
Multi Family
Occupancy
100%
Taxes and HOA fees
Annual Taxes
$3,599
Building Details
Building Size
3,695 SF
Year Built
1900
Tenancy
Multi
Listing Agency:
Shambeau & Grenlie Real Estate, LLC
Listed By:
Jean M. Grenlie · License #91-936610
(715) 258-9900
Source:
C21ace
Added: Jul 20
Changed: Sep 16
Last Checked: Sep 16 at 10:37PM
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 Shambeau & Grenlie Real Estate, LLC
Investment Insights
Based on property information with market context.
This four-unit residential income property contains 3,695 square feet and was built in 1900. The unit mix includes one one-bedroom, one-bath unit and three two-bedroom, one-bath units. All units are occupied by month-to-month tenants, providing current rental income with future flexibility. A detached two-car garage is also included.
Located at 317 N Washington Street in Waupaca, the property is minutes from downtown and offers access to shopping, restaurants, parks, and local amenities. The four-unit configuration, established occupancy, and month-to-month leasing structure provide a straightforward multifamily format for continued rental operations.
Located at 317 N Washington Street in Waupaca, the property is minutes from downtown and offers access to shopping, restaurants, parks, and local amenities. The four-unit configuration, established occupancy, and month-to-month leasing structure provide a straightforward multifamily format for continued rental operations.
Key Highlights
- Four‑unit property with 3,695 square feet
- Unit mix includes one 1‑bedroom, 1‑bath unit and three 2‑bedroom, 1‑bath units
- All units occupied by month‑to‑month tenants
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
$24,667
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
7.83%
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%
$493,340
$493.3K
Cap Rate 7%
$352,386
$352.4K
Cap Rate 9%
$274,078
$274.1K
Market Conditions
NOI Build-Up for 3,695 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
$37.7K $10.20/SF
− Vacancy
−$2.4K −$0.66/SF
EGI
$35.2K $9.54/SF
− OpEx
−$10.6K −$2.86/SF
NOI
$24.7K $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 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%
$493,340
Cap Rate 7%
$352,386
Cap Rate 9%
$274,078
Alternative Uses
Best Use
Multifamily LT 5
$352.4K
$308.3K – $411.1K
NOI $24,667 @ 7.0% cap · market cap 7.83%
Second Best
Apartment 5plus
$329.2K
$288.1K – $384.1K
NOI $23,046 @ 7.0% cap · market cap 7.32%
Theoretical Best
Office A
$692.1K
$605.6K – $807.5K
NOI $48,448 @ 7.0% cap · market cap 15.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
451
Businesses Nearby
Explore this area
Business Placement
Demographics for 54981, WI
14,998
Population
8,253
Households
1.8
Avg Household Size
47
Median Age
28%
College-Educated
94%
High-School Grad
131.6 sq mi
ZIP Area
114
Density / Sq Mi
$76,821
Median Household Income
$45,326
Median Earnings
$800
Median Rent
$204,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied quadplex with flexible month-to-month tenancy and a detached garage.
Where is this quadplex located?
The property is located at 317 N WASHINGTON Street Waupaca, WI.
What is the asking price?
The asking price for this property is $314,900.
What are key features of this property?
This property features: Four‑unit property with 3,695 square feet; Unit mix includes one 1‑bedroom, 1‑bath unit and three 2‑bedroom, 1‑bath units; All units occupied by month‑to‑month tenants
