Four-Unit Residential Income
For Sale
$299,900
409 3rd St, Algoma, WI 54201
MULTI_FAMILY - Algoma, WI
Property Size2,800 SF
Lot Size0.21 Acres
Price / SF$107.11
Days on Market100
Property Features for 409 3rd St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
C-1
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bedroom 4, Bathroom 2, Bedroom 2, Bedroom 6, Bedroom 5, Bathroom 4, Bedroom 7, Bedroom 3, Bathroom 3, Bathroom 1
Elementary school district
Algoma
Middle school district
Algoma
High school district
Algoma
Subdivision
23-Algoma
Standard status
Active
Size
2,800 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Annual Amount
3739
Utilities
Heating system
Forced Air, Space Heater, Heat Pump (Heating)
Building Details
Year built
1900
Number of units
4
Architectural style
Other
Listing Agency:
ERA Starr Realty · ERA Real Estate
(920) 743-4321
Listed By:
Heidi Neubauer · License #94-59219
(920) 493-6289
Added: Apr 22
Changed: Jul 29
Last Checked: Jul 30 at 4:06PM
MLS# 147102
Copyright © 2026 Door County MLS. 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 four-unit residential income quadplex offers a straightforward small multifamily setup for an owner seeking manageable scale. Reported updates include fresh paint completed last year, a roof that is about two years old, and improvements made to three of the four units within the past five years. The property totals 2,800 square feet on a 0.21-acre lot, supporting a compact, rental-focused configuration.
The quadplex is located at 409 3rd St in Algoma, Wisconsin (Kewaunee County). The property is listed under C-1 zoning, which may be relevant for buyers evaluating use and compliance considerations. As a for-sale multifamily asset, it is positioned for tenants seeking everyday residential comfort within a community setting.
From an ownership and leasing standpoint, the recent attention to paint, roofing, and multiple unit updates can help reduce near-term maintenance concerns compared with a less recently refreshed building. Current reported gross rent is $2,900 per month. With three units updated in the last five years, this property may appeal to buyers looking for a quadplex with documented improvements already in place.
The quadplex is located at 409 3rd St in Algoma, Wisconsin (Kewaunee County). The property is listed under C-1 zoning, which may be relevant for buyers evaluating use and compliance considerations. As a for-sale multifamily asset, it is positioned for tenants seeking everyday residential comfort within a community setting.
From an ownership and leasing standpoint, the recent attention to paint, roofing, and multiple unit updates can help reduce near-term maintenance concerns compared with a less recently refreshed building. Current reported gross rent is $2,900 per month. With three units updated in the last five years, this property may appeal to buyers looking for a quadplex with documented improvements already in place.
Key Highlights
- Algoma investment property with $2,900/month rent and 4 total units
- Roof is 2 years old
- Fresh paint updates completed last year
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 | $37.0k | $13.20 |
| − Vacancy | −$2.0k | −$0.73 |
| EGI | $34.9k | $12.47 |
| − OpEx | −$10.5k | −$3.74 |
| NOI | $24.4k | $8.73 |
2,800 SF · lease $13.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$349.3K
$305.6K – $407.5K
NOI $24,449 @ 7.0% cap · market cap 8.15%
Second Best
Apartment 5plus
$325.4K
$284.7K – $379.6K
NOI $22,775 @ 7.0% cap · market cap 7.59%
Theoretical Best
Office A
$652.8K
$571.2K – $761.6K
NOI $45,696 @ 7.0% cap · market cap 15.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
315
Businesses Nearby
Explore this area
Business Placement
Demographics for 54201, WI
5,281
Population
2,603
Households
2
Avg Household Size
48
Median Age
19%
College-Educated
92%
High-School Grad
75.5 sq mi
ZIP Area
70
Density / Sq Mi
$65,772
Median Household Income
$39,787
Median Earnings
$823
Median Rent
$174,800
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?
Quadplex - Well-maintained quadplex with recent interior updates, including fresh paint and a roof installed about two years ago.
Where is this quadplex located?
The property is located at 409 3rd St Algoma, WI.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Algoma investment property with $2,900/month rent and 4 total units; Roof is 2 years old; Fresh paint updates completed last year
