Renovated Two-Story
For Sale
$270,000
318 South Mill Street, Hortonville, WI 54944
Upper and lower residences feature distinct layouts, including first-floor bedrooms, a full bath, and laundry.
Property Size1,840 SF
Price / SF$146.74
Days on Market401
Property Features for 318 South Mill Street
General Information
Standard status
Active
Size
1,840 SF
Property subtype
Multifamily / Duplex (2 Unit)
Zoning
Residential
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,175
Amenities
Forced Air
1
2
Natural Gas
Full
Stone
2 Story,2 Up and Down
Vinyl Siding
1st Floor Bedroom,1st Floor Full Bath,Laundry 1st Floor
Building Details
Year Built
1900
Buildings
1
Stories
2
Listing Agency:
Foxcityhomes.Com, LLC
(920) 205-8801
Listed By:
Mark D Vercauteren · License #90-55533
(920) 205-8801
Source:
Compass
Added: Jul 28, 2025
Changed: Aug 30
Last Checked: Aug 30 at 5:05PM
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 Foxcityhomes.Com, LLC
Investment Insights
Based on property information with market context.
Located at 318 South Mill Street in Hortonville, this 1,840-square-foot duplex provides an upper-and-lower configuration within a two-story residential building. The main-level residence includes 3 bedrooms and 1 bathroom, while the upper unit offers 2 bedrooms and 1 bathroom. First-floor bedrooms, a full bath, and laundry support the lower unit’s layout.
Renovation work includes a new roof, siding, windows, doors, gutters, fencing, main-floor flooring, and a main-floor bathroom. The driveway has also been widened. The property was built in 1900 and carries Residential zoning.
Renovation work includes a new roof, siding, windows, doors, gutters, fencing, main-floor flooring, and a main-floor bathroom. The driveway has also been widened. The property was built in 1900 and carries Residential zoning.
Key Highlights
- Two‑story upper‑and‑lower duplex with 1,840 SF
- Main‑floor unit includes 3 bedrooms and 1 bathroom
- Upper residence offers 2 bedrooms and 1 bathroom
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
$14,022
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
5.19%
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%
$280,440
$280.4K
Cap Rate 7%
$200,314
$200.3K
Cap Rate 9%
$155,800
$155.8K
Market Conditions
NOI Build-Up for 1,840 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
$21.0K $11.40/SF
− Vacancy
−$944 −$0.51/SF
EGI
$20.0K $10.89/SF
− OpEx
−$6.0K −$3.27/SF
NOI
$14.0K $7.62/SF
Area
Outagamie County, WI
Vacancy
4.50%
Lease Rate
$11.40 /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%
$280,440
Cap Rate 7%
$200,314
Cap Rate 9%
$155,800
Alternative Uses
Best Use
Multifamily LT 5
$200.3K
$175.3K – $233.7K
NOI $14,022 @ 7.0% cap · market cap 5.19%
Second Best
Apartment 5plus
$187.5K
$164.1K – $218.8K
NOI $13,125 @ 7.0% cap · market cap 4.86%
Theoretical Best
Office A
$507.3K
$443.9K – $591.9K
NOI $35,512 @ 7.0% cap · market cap 13.15%
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
185
Businesses Nearby
Explore this area
Business Placement
Demographics for 54944, WI
9,380
Population
3,552
Households
2.6
Avg Household Size
41
Median Age
28%
College-Educated
97%
High-School Grad
68.9 sq mi
ZIP Area
136
Density / Sq Mi
$98,675
Median Household Income
$51,166
Median Earnings
$820
Median Rent
$318,400
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?
Duplex - Upper and lower residences feature distinct layouts, including first-floor bedrooms, a full bath, and laundry.
Where is this duplex located?
The property is located at 318 South Mill Street Hortonville, WI.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Two‑story upper‑and‑lower duplex with 1,840 SF; Main‑floor unit includes 3 bedrooms and 1 bathroom; Upper residence offers 2 bedrooms and 1 bathroom
