Duplex with Storage
For Sale
$199,900
326 W Spring Street, Chippewa Falls, WI 54729
ResidentialIncome, Chippewa Falls, WI
Property Size1,824 SF
Lot Size0.09 Acres
Price / SF$109.59
Days on Market554
Property Features for 326 W Spring Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Duplex
Parking features
Driveway
Patio and Porch features
Porch
Appliances
ElectricWaterHeater, Oven, Range, Refrigerator
Elementary school district
Chippewa Falls Area Unified
Middle school district
Chippewa Falls Area Unified
High school district
Chippewa Falls Area Unified
Directions
Bridge St. to left on Spring St.
Standard status
Active
APN
22808064360011804
Size
1,824 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
ORIGINAL PLAT LOT 4 THE SE 1/2 BLK 18
Tax Annual Amount
1637
Legal Description
ORIGINAL PLAT LOT 4 THE SE 1/2 BLK 18
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Water source
Public
Amenities
storage shed
Building Details
Year built
1900
Number of units
2
Building materials
WoodSiding
Additional Structures
Shed(s)
Listing Agency:
Donnellan Real Estate
(715) 836-8080
Listed By:
Adrian Ong · License #97075-94
(715) 600-4604
Added: Mar 16, 2025
Changed: Aug 19
Last Checked: Sep 20 at 4:06AM
MLS# 1589562
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 two-unit duplex contains 1,824 square feet and was built in 1900. Each residence includes a bonus storage shed, while the property also offers a porch and driveway parking. Wood siding, baseboard heat, a public water connection, and public sewer serve the building. Appliances include an electric water heater, oven, range, and refrigerator.
Located at 326 W Spring Street in Chippewa Falls, the property is within walking distance of downtown, with shops, restaurants, and entertainment nearby. Both units are occupied by long-term tenants on month-to-month leases. The 0.09-acre parcel provides a compact residential income property in a central setting.
Located at 326 W Spring Street in Chippewa Falls, the property is within walking distance of downtown, with shops, restaurants, and entertainment nearby. Both units are occupied by long-term tenants on month-to-month leases. The 0.09-acre parcel provides a compact residential income property in a central setting.
Key Highlights
- Two‑unit duplex with 1,824 square feet
- Each unit includes a bonus storage shed
- Long‑term tenants occupy both units on month‑to‑month leases
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
$15,203
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
7.61%
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%
$304,060
$304.1K
Cap Rate 7%
$217,186
$217.2K
Cap Rate 9%
$168,922
$168.9K
Market Conditions
NOI Build-Up for 1,824 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
$23.0K $12.60/SF
− Vacancy
−$1.3K −$0.69/SF
EGI
$21.7K $11.91/SF
− OpEx
−$6.5K −$3.57/SF
NOI
$15.2K $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%
$304,060
Cap Rate 7%
$217,186
Cap Rate 9%
$168,922
Alternative Uses
Best Use
Multifamily LT 5
$217.2K
$190.0K – $253.4K
NOI $15,203 @ 7.0% cap · market cap 7.61%
Second Best
Apartment 5plus
$196.1K
$171.6K – $228.7K
NOI $13,724 @ 7.0% cap · market cap 6.87%
Theoretical Best
Warehouse
$1.01M
$886.1K – $1.18M
NOI $70,884 @ 7.0% cap · market cap 35.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
670
Businesses Nearby
Explore this area
Business Placement
Demographics for 54729, WI
33,980
Population
15,386
Households
2.2
Avg Household Size
42
Median Age
30%
College-Educated
95%
High-School Grad
165.0 sq mi
ZIP Area
206
Density / Sq Mi
$76,603
Median Household Income
$44,792
Median Earnings
$1,022
Median Rent
$263,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Owner-occupant or rental property with two month-to-month residences near downtown Chippewa Falls.
Where is this duplex located?
The property is located at 326 W Spring Street Chippewa Falls, WI.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,824 square feet; Each unit includes a bonus storage shed; Long‑term tenants occupy both units on month‑to‑month leases
