Renovated Duplex with Separate
For Sale
$289,900
329-331 South Main Street, Janesville, WI 53545
Two-unit property with refreshed interiors, individual utilities, and parking at both the front and rear.
Property Size2,839 SF
Price / SF$102.11
Days on Market131
Property Features for 329-331 South Main Street
General Information
Standard status
Active
Size
2,839 SF
Property subtype
Multi Family / Duplex-side by side
Zoning
O2
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,063
Amenities
Partial, Other foundation, Storage area, Unfinished
Natural Gas
Forced air
tenant personal property
Stoves, refrigerators, blinds, dehumidifiers, shed
2
Aluminum/Steel
Building Details
Year Built
1880
Units
2
Listing Agency:
Century 21 Affiliated
Listed By:
Julie Press-Raese · License #33054-94
(608) 751-1958
Source:
Compass
Added: Apr 26
Changed: Sep 2
Last Checked: Aug 30 at 11:59PM
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 Century 21 Affiliated
Investment Insights
Based on property information with market context.
This 2,839-square-foot duplex includes two residential units with substantial renovation work completed within the past 20 years. Improvements include updated electrical systems, walls, and flooring. Each unit has separate utilities, and the property includes stoves, refrigerators, blinds, dehumidifiers, storage space, an unfinished area, and a shed. Natural gas service and forced-air heating are also present.
The building dates to 1880 and has an aluminum/steel exterior. A shared driveway serving both units is positioned along the right side of the building; the left-side driveway belongs to the neighboring property. Additional parking is available in front of the property and in a large area behind the building. The property is zoned O2 and is located at 329-331 South Main Street in Janesville, Wisconsin.
The building dates to 1880 and has an aluminum/steel exterior. A shared driveway serving both units is positioned along the right side of the building; the left-side driveway belongs to the neighboring property. Additional parking is available in front of the property and in a large area behind the building. The property is zoned O2 and is located at 329-331 South Main Street in Janesville, Wisconsin.
Key Highlights
- 2,839 SF duplex with two residential units
- Substantial renovation completed within the past 20 years
- Updated electrical, walls, and flooring
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
$26,191
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
9.03%
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%
$523,820
$523.8K
Cap Rate 7%
$374,157
$374.2K
Cap Rate 9%
$291,011
$291.0K
Market Conditions
NOI Build-Up for 2,839 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
$39.2K $13.80/SF
− Vacancy
−$1.8K −$0.62/SF
EGI
$37.4K $13.18/SF
− OpEx
−$11.2K −$3.95/SF
NOI
$26.2K $9.23/SF
Area
Rock County, WI
Vacancy
4.50%
Lease Rate
$13.80 /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%
$523,820
Cap Rate 7%
$374,157
Cap Rate 9%
$291,011
Alternative Uses
Best Use
Multifamily LT 5
$374.2K
$327.4K – $436.5K
NOI $26,191 @ 7.0% cap · market cap 9.03%
Second Best
Apartment 5plus
$328.9K
$287.8K – $383.8K
NOI $23,025 @ 7.0% cap · market cap 7.94%
Theoretical Best
Office A
$682.2K
$597.0K – $796.0K
NOI $47,757 @ 7.0% cap · market cap 16.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,216
Businesses Nearby
Explore this area
Business Placement
Demographics for 53545, WI
23,318
Population
11,170
Households
2.1
Avg Household Size
41
Median Age
29%
College-Educated
94%
High-School Grad
22.5 sq mi
ZIP Area
1,036
Density / Sq Mi
$70,730
Median Household Income
$42,567
Median Earnings
$1,006
Median Rent
$204,000
Median Home Value
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 - Two-unit property with refreshed interiors, individual utilities, and parking at both the front and rear.
Where is this duplex located?
The property is located at 329-331 South Main Street Janesville, WI.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: 2,839 SF duplex with two residential units; Substantial renovation completed within the past 20 years; Updated electrical, walls, and flooring
