Duplex with Two-Car
New
For Sale
$224,900
Pending
413 E Irving Ave, Oshkosh, WI 54901
Two-unit property with separate one-bedroom and three-bedroom layouts, central air, fenced yard, and original wood flooring.
Property Size2,360 SF
Days on Market6
Property Features for 413 E Irving Ave
General Information
Standard status
Pending
Size
2,360 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
3-bed/1-bath, 2-bed/1-bath
Multifamily Units
2
Amenities
original wood flooring
central air
fenced in yard
Building Details
Year Built
1920
Buildings
1
Listing Agency:
Renard Realty
Listed By:
Shane Renard - Principal Broker Owner · License #9057962
(920) 606-4436
Source:
Renardrealtygroup
Added: Aug 30
Changed: Sep 2
Last Checked: Sep 1 at 6:31PM
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 Renard Realty
Investment Insights
Based on property information with market context.
This 1920 duplex contains two distinct residential units: one with three bedrooms and one bathroom, and another with two bedrooms and one bathroom. The property offers 2,360 square feet, original wood flooring, central air, vinyl siding, and a fenced yard. A detached 24-by-26-foot garage provides two-car capacity, with additional parking also available on the property.
The configuration supports either owner occupancy with a separate second unit or continued rental use. The combination of period woodwork, updated exterior siding, central air, and practical parking creates a straightforward multifamily layout with established residential features.
The configuration supports either owner occupancy with a separate second unit or continued rental use. The combination of period woodwork, updated exterior siding, central air, and practical parking creates a straightforward multifamily layout with established residential features.
Key Highlights
- Two‑unit duplex with 3‑bed/1‑bath and 2‑bed/1‑bath layouts
- 2,360 square feet of property size
- 24X26 2 car garage
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
$15,924
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
7.08%
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%
$318,480
$318.5K
Cap Rate 7%
$227,486
$227.5K
Cap Rate 9%
$176,933
$176.9K
Market Conditions
NOI Build-Up for 2,360 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
$24.1K $10.20/SF
− Vacancy
−$1.3K −$0.56/SF
EGI
$22.7K $9.64/SF
− OpEx
−$6.8K −$2.89/SF
NOI
$15.9K $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%
$318,480
Cap Rate 7%
$227,486
Cap Rate 9%
$176,933
Alternative Uses
Best Use
Multifamily LT 5
$227.5K
$199.1K – $265.4K
NOI $15,924 @ 7.0% cap · market cap 7.08%
Second Best
Apartment 5plus
$205.0K
$179.4K – $239.2K
NOI $14,353 @ 7.0% cap · market cap 6.38%
Theoretical Best
Office A
$509.4K
$445.7K – $594.3K
NOI $35,656 @ 7.0% cap · market cap 15.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with separate one-bedroom and three-bedroom layouts, central air, fenced yard, and original wood flooring.
Where is this duplex located?
The property is located at 413 E Irving Ave Oshkosh, WI.
What is the asking price?
The asking price for this property is $224,900.
What are key features of this property?
This property features: Two‑unit duplex with 3‑bed/1‑bath and 2‑bed/1‑bath layouts; 2,360 square feet of property size; 24X26 2 car garage
