Rehabilitated Duplex Investment
406 N BRIDGE Street Manawa, WI 54949
406 N BRIDGE Street, Manawa, WI, 54949
$189,900
For Sale
$189,900
MULTI_FAMILY - MANAWA, WI
Property Size1,864 SF
Lot Size0.50 Acres
Price / SF$101.88
Days on Market28
Property Features for 406 N BRIDGE Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Zoning
- Residential
- Parking
- 4
- Standard status
- Active
- APN
- 31 15 22 12
- Size
- 1,864 SF
- Lot size
- 0.50 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 2919
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air
- Water source
- Public
Building Details
- Year built
- 1920
- Number of units
- 2
- Building materials
- Brick, Vinyl Siding
Listing agency
EXP Realty LLC
(866) 848-6990
Listed by
Ben Westein · License #94115082
(920) 393-0697
Added: Jun 24 Updated: Jul 20 at 11:06PM Checked: Jul 21 at 7:06PM
MLS# 50328052
Copyright © 2026 Realtor Association of Northeast 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 fully rehabbed upper/lower duplex sits on a double lot and is configured as two separately metered units with fully separate utilities. Each unit offers 2 bedrooms and 1 bathroom and has been updated, with key improvements including a roof replaced in 2019, furnaces upgraded in 2019 and 2021, water heaters replaced, and electrical panels updated in 2018. The upper unit includes all-new vinyl windows and a washer/dryer hookup. The basement configuration is half basement and half crawlspace, with a fieldstone basement section that can take on water during heavy storms; there are currently no gutters.
The property is located at 406 N Bridge Street in Manawa, WI (Waupaca County). Two detached garages are included on the lot. The listing notes that Hwy 22 is expected to be refinished within two years. Current lease terms include the lower unit through 8/2027 and the upper unit through 5/2027.
For investors or buyers seeking a residential income property, the combination of separate utilities, updated major systems, and two leased units provides a practical foundation for an income-oriented ownership plan. The noted basement water intrusion during heavy storms and the absence of gutters are important considerations for ongoing maintenance and risk management.
The property is located at 406 N Bridge Street in Manawa, WI (Waupaca County). Two detached garages are included on the lot. The listing notes that Hwy 22 is expected to be refinished within two years. Current lease terms include the lower unit through 8/2027 and the upper unit through 5/2027.
For investors or buyers seeking a residential income property, the combination of separate utilities, updated major systems, and two leased units provides a practical foundation for an income-oriented ownership plan. The noted basement water intrusion during heavy storms and the absence of gutters are important considerations for ongoing maintenance and risk management.
Key Highlights
- Fully rehabbed 2‑unit duplex on a double lot in Manawa, with both units separately metered/utilities
- 2BR/1BA upper and 2BR/1BA lower units, each tenant‑occupied with leases in place through 5/2027 and 8/2027
- Recent major updates include roof (2019), furnaces (2019 & 2021), water heaters replaced, and electrical panels updated (2018)
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 | $19.0k | $10.20 |
| − Vacancy | −$1.2k | −$0.66 |
| EGI | $17.8k | $9.54 |
| − OpEx | −$5.3k | −$2.86 |
| NOI | $12.4k | $6.68 |
1,864 SF · lease $10.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$177.8K
$155.6K – $207.4K
NOI $12,444 @ 7.0% cap · market cap 6.55%
Second Best
Apartment 5plus
$166.1K
$145.3K – $193.8K
NOI $11,626 @ 7.0% cap · market cap 6.12%
Theoretical Best
Office A
$349.1K
$305.5K – $407.3K
NOI $24,440 @ 7.0% cap · market cap 12.87%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Fully rehabbed duplex with two detached garages and separate utilities, offering updated 2BR/1BA units for income.
Where is this duplex located?
The property is located at 406 N BRIDGE Street Manawa, WI.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: Fully rehabbed 2‑unit duplex on a double lot in Manawa, with both units separately metered/utilities; 2BR/1BA upper and 2BR/1BA lower units, each tenant‑occupied with leases in place through 5/2027 and 8/2027; Recent major updates include roof (2019), furnaces (2019 & 2021), water heaters replaced, and electrical panels updated (2018)
