Historic Duplex with Short-Term
414 Dewey Avenue Watertown, WI 53094
414 Dewey Avenue, Watertown, WI, 53094
$359,000
For Sale
$359,000
1909 historic duplex on a corner lot with separate HVAC and an upper furnished short-term rental unit.
Property Size1,966 SF
Price / SF$182.60
Days on Market76
Property Features for 414 Dewey Avenue
General Information
- Standard status
- Active
- Size
- 1,966 SF
- Property subtype
- Multi Family / Duplex-side by side
Building Details
- Year Built
- 1919
Listing agency
Rock Realty
(608) 509-3807
Listed by
Max Mulhern · License #95486-94
(608) 509-3807
Source
Compass
Added: May 7 Updated: Jul 21 at 6:11PM Checked: Jul 21 at 6:11PM
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 Rock Realty
Investment Insights
Based on property information with market context.
Built in 1909, this historic duplex/full home on a corner lot offers two independently served living spaces. The upper apartment, known as “The Albert Inn,” has operated as a furnished Airbnb and includes 2 bedrooms, a kitchen, living room, porch, walk-up attic, and in-place furnishings, d2cor, and appliances. The main level features 2 bedrooms, 1.5 baths, a fireplace, 3-season porch, and a basement, with classic woodwork throughout.
Additional exterior and interior features include original hardwood floors, uranium glass and brass doorknobs, and a terracotta tile roof. Newer steel roofs were installed on the porch/garage in 2025, and the home includes separate HVAC units. Mature perennial gardens surround the property.
Located at 414 Dewey Avenue in Watertown’s Riverside neighborhood, the home is walkable to Riverside Park, downtown, schools, and the Rock River.
Additional exterior and interior features include original hardwood floors, uranium glass and brass doorknobs, and a terracotta tile roof. Newer steel roofs were installed on the porch/garage in 2025, and the home includes separate HVAC units. Mature perennial gardens surround the property.
Located at 414 Dewey Avenue in Watertown’s Riverside neighborhood, the home is walkable to Riverside Park, downtown, schools, and the Rock River.
Key Highlights
- 1909 historic home with duplex setup on a corner lot at 414 Dewey Ave in Watertown’s Riverside neighborhood
- Upper unit (“The Albert Inn”) has 2 bedrooms, kitchen, living room, porch, walk‑up attic, and includes furnishings/appliances
- Main level offers 2 bedrooms, 1.5 baths, fireplace, 3‑season porch, basement, and classic woodwork
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 | $26.0k | $13.20 |
| − Vacancy | −$862 | −$0.44 |
| EGI | $25.1k | $12.76 |
| − OpEx | −$7.5k | −$3.83 |
| NOI | $17.6k | $8.93 |
1,966 SF · lease $13.20/SF/yr · vacancy 3.32% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$250.9K
$219.5K – $292.7K
NOI $17,563 @ 7.0% cap · market cap 4.89%
Second Best
Apartment 5plus
$232.5K
$203.5K – $271.3K
NOI $16,278 @ 7.0% cap · market cap 4.53%
Theoretical Best
Office A
$427.1K
$373.7K – $498.3K
NOI $29,896 @ 7.0% cap · market cap 8.33%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - 1909 historic duplex on a corner lot with separate HVAC and an upper furnished short-term rental unit.
Where is this duplex located?
The property is located at 414 Dewey Avenue Watertown, WI.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: 1909 historic home with duplex setup on a corner lot at 414 Dewey Ave in Watertown’s Riverside neighborhood; Upper unit (“The Albert Inn”) has 2 bedrooms, kitchen, living room, porch, walk‑up attic, and includes furnishings/appliances; Main level offers 2 bedrooms, 1.5 baths, fireplace, 3‑season porch, basement, and classic woodwork
