Two-Unit Upper-Lower
For Sale
$259,900
420 West Lincoln Avenue, Oshkosh, WI 54901
Residentially zoned duplex with separate upper and lower living units in Oshkosh.
Property Size2,772 SF
Price / SF$93.76
Days on Market412
Property Features for 420 West Lincoln Avenue
General Information
Standard status
Active
Size
2,772 SF
Property subtype
Multifamily / Duplex (2 Unit)
Zoning
Residential
Additional Details
Gross Income
$37,200
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,047
Amenities
Hot Water
2
Natural Gas
Full
Block,Stone
2 Story,2 Up and Down
Vinyl Siding
Not Applicable
Building Details
Year Built
1920
Buildings
1
Listing Agency:
First Weber Oshkosh
(920) 203-3895
Listed By:
Aaron Weigandt · License #94-91225
(920) 203-3895
Source:
Compass
Added: Jul 15, 2025
Changed: Aug 29
Last Checked: Aug 29 at 10:56PM
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.
Located at 420 West Lincoln Avenue in Oshkosh, this two-story duplex contains 2,772 square feet arranged as upper and lower units. The property was built in 1920 and has vinyl siding with block and stone exterior elements.
Residential zoning supports its existing duplex configuration. Natural gas service and hot water are among the documented interior features, and tenants are responsible for utilities.
Residential zoning supports its existing duplex configuration. Natural gas service and hot water are among the documented interior features, and tenants are responsible for utilities.
Key Highlights
- 2,772‑square‑foot duplex with upper and lower units
- Two‑story configuration with 2 residential units
- Built in 1920
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
$18,704
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
7.20%
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%
$374,080
$374.1K
Cap Rate 7%
$267,200
$267.2K
Cap Rate 9%
$207,822
$207.8K
Market Conditions
NOI Build-Up for 2,772 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
$28.3K $10.20/SF
− Vacancy
−$1.6K −$0.56/SF
EGI
$26.7K $9.64/SF
− OpEx
−$8.0K −$2.89/SF
NOI
$18.7K $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%
$374,080
Cap Rate 7%
$267,200
Cap Rate 9%
$207,822
Alternative Uses
Best Use
Multifamily LT 5
$267.2K
$233.8K – $311.7K
NOI $18,704 @ 7.0% cap · market cap 7.20%
Second Best
Apartment 5plus
$240.8K
$210.7K – $281.0K
NOI $16,859 @ 7.0% cap · market cap 6.49%
Theoretical Best
Office A
$598.3K
$523.5K – $698.0K
NOI $41,881 @ 7.0% cap · market cap 16.11%
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
729
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 - Residentially zoned duplex with separate upper and lower living units in Oshkosh.
Where is this duplex located?
The property is located at 420 West Lincoln Avenue Oshkosh, WI.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: 2,772‑square‑foot duplex with upper and lower units; Two‑story configuration with 2 residential units; Built in 1920
