Rehabbed Duplex Income
For Sale
$230,000
407 East Irving Avenue, Oshkosh, WI 54901
Both units have been rehabbed with updated interiors and exterior improvements, and are currently fully occupied.
Property Size2,370 SF
Price / SF$97.05
Days on Market197
Property Features for 407 East Irving Avenue
General Information
Standard status
Active
Size
2,370 SF
Property subtype
Multifamily / Duplex (2 Unit)
Zoning
2 Family/Duplex
Occupancy
100%
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,704
Amenities
2
Natural Gas
1
Full
Stone
2 Story,2 Up and Down
Vinyl Siding
Not Applicable
Building Details
Year Built
1920
Buildings
1
Listing Agency:
First Weber Oshkosh
(920) 233-4184
Listed By:
Steve H Hoopman · License #94-77408
(920) 233-4184
Source:
Compass
Added: Jan 28
Changed: Aug 8
Last Checked: Jul 22 at 1:35AM
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 First Weber Oshkosh
Investment Insights
Based on property information with market context.
This rehabbed duplex includes two fully updated units with new cabinets, appliances, LVP and tile flooring, along with new doors and a new roof. The exterior has also received new paint, and the property is described as ready for move-in or continued rental income.
The duplex is positioned on the east side of Oshkosh at 407 East Irving Avenue. The units include a mix of 1–3 bedroom and 1–2 bedroom layouts, and both units are fully occupied.
Updates are presented as complete across both units, supporting immediate occupancy and ongoing residential rental use.
The duplex is positioned on the east side of Oshkosh at 407 East Irving Avenue. The units include a mix of 1–3 bedroom and 1–2 bedroom layouts, and both units are fully occupied.
Updates are presented as complete across both units, supporting immediate occupancy and ongoing residential rental use.
Key Highlights
- Duplex in Oshkosh with both units fully occupied
- Both units rehabbed with updated interiors including cabinets, appliances, LVP and tile
- Exterior and building updates include new doors and a new roof
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
$15,991
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
6.95%
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%
$319,820
$319.8K
Cap Rate 7%
$228,443
$228.4K
Cap Rate 9%
$177,678
$177.7K
Market Conditions
NOI Build-Up for 2,370 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
$24.2K $10.20/SF
− Vacancy
−$1.3K −$0.56/SF
EGI
$22.8K $9.64/SF
− OpEx
−$6.9K −$2.89/SF
NOI
$16.0K $6.75/SF
Area
Winnebago County, WI
Vacancy
5.50%
Lease Rate
$10.20 /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%
$319,820
Cap Rate 7%
$228,443
Cap Rate 9%
$177,678
Alternative Uses
Best Use
Multifamily LT 5
$228.4K
$199.9K – $266.5K
NOI $15,991 @ 7.0% cap · market cap 6.95%
Second Best
Apartment 5plus
$205.9K
$180.2K – $240.2K
NOI $14,414 @ 7.0% cap · market cap 6.27%
Theoretical Best
Office A
$511.5K
$447.6K – $596.8K
NOI $35,807 @ 7.0% cap · market cap 15.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
962
Businesses Nearby
Explore this area
Business Placement
Demographics for 54901, WI
37,594
Population
15,381
Households
2.4
Avg Household Size
33
Median Age
24%
College-Educated
92%
High-School Grad
16.6 sq mi
ZIP Area
2,265
Density / Sq Mi
$61,734
Median Household Income
$31,289
Median Earnings
$932
Median Rent
$164,000
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 - Both units have been rehabbed with updated interiors and exterior improvements, and are currently fully occupied.
Where is this duplex located?
The property is located at 407 East Irving Avenue Oshkosh, WI.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Duplex in Oshkosh with both units fully occupied; Both units rehabbed with updated interiors including cabinets, appliances, LVP and tile; Exterior and building updates include new doors and a new roof
