Renovated Duplex with Large
402-404 South Main Street Deerfield, WI 53531
402-404 South Main Street, Deerfield, WI, 53531
$385,000
For Sale
$385,000
Renovated 2-unit duplex with two vacant residences, each featuring multiple bedrooms, 1.5 baths, and updated systems.
Property Size2,326 SF
Price / SF$165.52
Days on Market33
Property Features for 402-404 South Main Street
General Information
- Standard status
- Active
- Size
- 2,326 SF
- Property subtype
- Multi Family / Duplex-side by side
Building Details
- Year Built
- 1930
Listing agency
EXP Realty, LLC
(608) 347-3444
Listed by
Alan Mikkelson · License #55642-90
(608) 347-3444
Source
Compass
Added: Jun 20 Updated: Jul 21 at 2:24PM Checked: Jul 21 at 2:24PM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This duplex offers two separate residential units, each with a configuration that includes multiple bedrooms and 1.5 bathrooms. Both units are currently vacant, providing flexibility for an owner-occupant and the option to select renters. The property has undergone extensive updates, including a brand new roof, new windows, new electrical, new kitchen cabinetry and countertops with appliances, new bathrooms, new flooring, and more.
A large basement includes separate laundry hook-ups, and the home provides plenty of off-street parking along with a big yard. The listing notes the availability of estimated rents based on unit size and local inventory conditions, supporting the duplex as a strong fit for either occupancy or portfolio growth.
The building is presented as move-in ready with updated finishes and major components refreshed throughout.
A large basement includes separate laundry hook-ups, and the home provides plenty of off-street parking along with a big yard. The listing notes the availability of estimated rents based on unit size and local inventory conditions, supporting the duplex as a strong fit for either occupancy or portfolio growth.
The building is presented as move-in ready with updated finishes and major components refreshed throughout.
Key Highlights
- Renovated 2‑unit duplex built in 1930 with both residences vacant and ready for an owner‑occupant or new tenants
- Unit mix: a 3‑bedroom/1.5‑bath and a 4‑bedroom/1.5‑bath, each featuring updated interiors and systems
- Brand new roof, new windows, and new electrical throughout the duplex
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $32.1k | $13.80 |
| − Vacancy | −$1.6k | −$0.69 |
| EGI | $30.5k | $13.11 |
| − OpEx | −$9.1k | −$3.93 |
| NOI | $21.3k | $9.18 |
2,326 SF · lease $13.80/SF/yr · vacancy 5.00% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$304.9K
$266.8K – $355.8K
NOI $21,346 @ 7.0% cap · market cap 5.54%
Second Best
Apartment 5plus
$268.1K
$234.6K – $312.8K
NOI $18,766 @ 7.0% cap · market cap 4.87%
Theoretical Best
Office A
$540.5K
$473.0K – $630.6K
NOI $37,836 @ 7.0% cap · market cap 9.83%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Renovated 2-unit duplex with two vacant residences, each featuring multiple bedrooms, 1.5 baths, and updated systems.
Where is this duplex located?
The property is located at 402-404 South Main Street Deerfield, WI.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Renovated 2‑unit duplex built in 1930 with both residences vacant and ready for an owner‑occupant or new tenants; Unit mix: a 3‑bedroom/1.5‑bath and a 4‑bedroom/1.5‑bath, each featuring updated interiors and systems; Brand new roof, new windows, and new electrical throughout the duplex
