Two-Unit Duplex with Natural
For Sale
$209,900
411 West Irving Avenue, Oshkosh, WI 54901
Two-family property with forced-air heating, natural gas service, and a 1.5-story configuration.
Property Size2,128 SF
Price / SF$98.64
Days on Market424
Property Features for 411 West Irving Avenue
General Information
Standard status
Active
Size
2,128 SF
Property subtype
Multifamily / Duplex (2 Unit)
Zoning
2 Family/Duplex
Taxes and HOA fees
Annual Taxes
$3,837
Amenities
Forced Air
1
2
Natural Gas
Full
Block,Stone
1.5 Story,2 Up and Down
Stucco,Shake Siding
Not Applicable
Building Details
Year Built
1913
Buildings
1
Listing Agency:
First Weber Oshkosh
Listed By:
Aaron Weigandt · License #94-91225
(920) 203-3895
Source:
Compass
Added: Jul 6, 2025
Changed: Sep 2
Last Checked: Aug 31 at 3:30AM
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 2,128-square-foot duplex at 411 West Irving Avenue in Oshkosh was constructed in 1913. The 1.5-story building is arranged with two up-and-down units and includes forced-air heating, natural gas service, and full bathrooms. Exterior materials include block, stone, stucco, and shake siding.
The property carries 2 Family/Duplex zoning. Tenants pay their own utilities, providing a clearly defined utility arrangement for the existing rental setup.
The property carries 2 Family/Duplex zoning. Tenants pay their own utilities, providing a clearly defined utility arrangement for the existing rental setup.
Key Highlights
- 2,128 SF duplex constructed in 1913
- Zoned 2 Family/Duplex
- 1.5‑story layout with two up‑and‑down units
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
$14,358
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
6.84%
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%
$287,160
$287.2K
Cap Rate 7%
$205,114
$205.1K
Cap Rate 9%
$159,533
$159.5K
Market Conditions
NOI Build-Up for 2,128 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
$21.7K $10.20/SF
− Vacancy
−$1.2K −$0.56/SF
EGI
$20.5K $9.64/SF
− OpEx
−$6.2K −$2.89/SF
NOI
$14.4K $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%
$287,160
Cap Rate 7%
$205,114
Cap Rate 9%
$159,533
Alternative Uses
Best Use
Multifamily LT 5
$205.1K
$179.5K – $239.3K
NOI $14,358 @ 7.0% cap · market cap 6.84%
Second Best
Apartment 5plus
$184.9K
$161.8K – $215.7K
NOI $12,942 @ 7.0% cap · market cap 6.17%
Theoretical Best
Office A
$459.3K
$401.9K – $535.9K
NOI $32,151 @ 7.0% cap · market cap 15.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,046
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 - Two-family property with forced-air heating, natural gas service, and a 1.5-story configuration.
Where is this duplex located?
The property is located at 411 West Irving Avenue Oshkosh, WI.
What is the asking price?
The asking price for this property is $209,900.
What are key features of this property?
This property features: 2,128 SF duplex constructed in 1913; Zoned 2 Family/Duplex; 1.5‑story layout with two up‑and‑down units
