Duplex with Center
New
For Sale
$265,000
321 N 7th Street, Cornell, WI 54732
ResidentialIncome, Cornell, WI
Property Size998 SF
Price / SF$265.53
Days on Market4
Property Features for 321 N 7th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Duplex
Parking features
Open, Driveway
Patio and Porch features
Patio
Appliances
Dishwasher, ElectricWaterHeater, Oven, Range, Refrigerator, RangeHood
Elementary school district
Cornell
Middle school district
Cornell
High school district
Cornell
Directions
Hwy 27, to North on 7th
Standard status
Active
APN
2310617264520319
Size
998 SF
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3779
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
laundry hookups
Building Details
Year built
1996
Number of units
2
Building materials
VinylSiding
Listing Agency:
RE/MAX Real Estate Group · RE/MAX International
(715) 835-6191
Listed By:
Tina Theisen · License #57891-90
(715) 379-7785
Added: Sep 24
Changed: Sep 25
Last Checked: Sep 27 at 4:06PM
MLS# 1605382
Copyright © 2026 REALTORS® Association of Northwestern Wisconsin. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 998-square-foot duplex, built in 1996, contains two residences, each with two bedrooms and one full bathroom. Laundry hookups serve both units, and a one-car garage sits between them. The property is being sold as-is.
Both sides are currently rented to long-term tenants. Features include vinyl siding, forced-air heat, central air conditioning, a patio, and driveway parking. Public water and sewer serve the property.
Both sides are currently rented to long-term tenants. Features include vinyl siding, forced-air heat, central air conditioning, a patio, and driveway parking. Public water and sewer serve the property.
Key Highlights
- Both units are rented to long‑term tenants
- Two residences, each with 2 bedrooms and 1 full bathroom
- 998 square feet; built in 1996
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
$8,318
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
3.14%
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%
$166,360
$166.4K
Cap Rate 7%
$118,829
$118.8K
Cap Rate 9%
$92,422
$92.4K
Market Conditions
NOI Build-Up for 998 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
$12.6K $12.60/SF
− Vacancy
−$692 −$0.69/SF
EGI
$11.9K $11.91/SF
− OpEx
−$3.6K −$3.57/SF
NOI
$8.3K $8.33/SF
Area
Chippewa County, WI
Vacancy
5.50%
Lease Rate
$12.60 /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%
$166,360
Cap Rate 7%
$118,829
Cap Rate 9%
$92,422
Alternative Uses
Best Use
Multifamily LT 5
$118.8K
$104.0K – $138.6K
NOI $8,318 @ 7.0% cap · market cap 3.14%
Second Best
Apartment 5plus
$107.3K
$93.9K – $125.2K
NOI $7,509 @ 7.0% cap · market cap 2.83%
Theoretical Best
Warehouse
$554.1K
$484.8K – $646.4K
NOI $38,784 @ 7.0% cap · market cap 14.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
149
Businesses Nearby
Explore this area
Business Placement
Demographics for 54732, WI
2,820
Population
1,243
Households
2.3
Avg Household Size
42
Median Age
12%
College-Educated
91%
High-School Grad
97.6 sq mi
ZIP Area
29
Density / Sq Mi
$64,886
Median Household Income
$39,980
Median Earnings
$800
Median Rent
$173,300
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
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 - Both residences are rented and include laundry hookups, with a garage positioned between the units.
Where is this duplex located?
The property is located at 321 N 7th Street Cornell, WI.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Both units are rented to long‑term tenants; Two residences, each with 2 bedrooms and 1 full bathroom; 998 square feet; built in 1996
