Renovated Duplex in Chetek,
For Sale
$314,900
324 Douglas Street, Chetek, WI 54728
MULTI_FAMILY - Chetek, WI
Property Size2,900 SF
Lot Size0.14 Acres
Price / SF$108.59
Days on Market94
Property Features for 324 Douglas Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Duplex, Residential-Limited Mf
Rooms
Basement
Appliances
Dryer, Dishwasher, Oven, Range, Refrigerator, Washer
Elementary school district
Chetek-Weyerhaeuser Area
Middle school district
Chetek-Weyerhaeuser Area
High school district
Chetek-Weyerhaeuser Area
Directions
Chetek Main Street, West on Douglas Street to property on right.
Standard status
Active
APN
211-1802-39-000
Size
2,900 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lots 11 & 12 Blk 4 Second Addition City of Chetek
Tax Annual Amount
1635
Legal Description
Lots 11 & 12 Blk 4 Second Addition City of Chetek
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Cooling system
Wall Unit(s)
Water source
Public
Building Details
Year built
1910
Number of units
2
Building materials
VinylSiding
Listing Agency:
Keller Williams Realty Diversified
(715) 514-4265
Listed By:
Joshua Amys · License #85884-94
(715) 642-0567
Added: May 22
Changed: Jul 18
Last Checked: Aug 23 at 7:06AM
MLS# 1601455
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 newly renovated duplex is located in Chetek, WI. The property features two expansive units, each offering 3 bedrooms and 2 bathrooms. Each unit includes a private owner's suite, tall ceilings, and an open-concept floor plan. The property is tenant-ready and ideally located within walking distance to schools, parks, local amenities, and the Chetek Chain of Lakes. It offers excellent rental potential and is currently vacant. The property size is 2900 square feet and the lot size is 0.135 acres.
Key Highlights
- Newly renovated duplex with two 3‑bed, 2‑bath units
- Each unit features a private owner's suite
- Located within walking distance to schools, parks, local amenities, and the Chetek Chain of Lakes
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
$12,823
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
4.07%
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%
$256,460
$256.5K
Cap Rate 7%
$183,186
$183.2K
Cap Rate 9%
$142,478
$142.5K
Market Conditions
NOI Build-Up for 2,900 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
$19.5K $6.72/SF
− Vacancy
−$1.2K −$0.40/SF
EGI
$18.3K $6.32/SF
− OpEx
−$5.5K −$1.90/SF
NOI
$12.8K $4.42/SF
Area
Barron County, WI
Vacancy
6.00%
Lease Rate
$6.72 /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%
$256,460
Cap Rate 7%
$183,186
Cap Rate 9%
$142,478
Alternative Uses
Best Use
Multifamily LT 5
$183.2K
$160.3K – $213.7K
NOI $12,823 @ 7.0% cap · market cap 4.07%
Second Best
Apartment 5plus
$172.3K
$150.8K – $201.1K
NOI $12,064 @ 7.0% cap · market cap 3.83%
Theoretical Best
Warehouse
$2.33M
$2.04M – $2.72M
NOI $163,105 @ 7.0% cap · market cap 51.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
263
Businesses Nearby
Explore this area
Business Placement
Demographics for 54728, WI
6,166
Population
3,491
Households
1.8
Avg Household Size
50
Median Age
22%
College-Educated
96%
High-School Grad
125.6 sq mi
ZIP Area
49
Density / Sq Mi
$71,538
Median Household Income
$40,310
Median Earnings
$897
Median Rent
$214,200
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 - Newly renovated duplex with two 3-bed, 2-bath units.
Where is this duplex located?
The property is located at 324 Douglas Street Chetek, 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: Newly renovated duplex with two 3‑bed, 2‑bath units; Each unit features a **private owner's suite**; Located within walking distance to schools, parks, local amenities, and the Chetek Chain of Lakes
