Updated Duplex with Finished
For Sale
$279,900
440 Church Ave, Oshkosh, WI 54901
Two-unit property with separately metered utilities and a finished attic area that adds usable bedroom space.
Property Size2,951 SF
Price / SF$94.85
Days on Market8
Property Features for 440 Church Ave
General Information
Standard status
Active
Size
2,951 SF
Property subtype
Multi-Family
Additional Details
Gross Income
$35,880
Utilities to Site
Yes
Multifamily Units
2
Building Details
Year Built
1893
Listing Agency:
RE/MAX On The Water
Listed By:
Mike Dorsey · License #9048417
(920) 379-3923
Source:
Moving2greenbay
Added: Sep 13
Last Checked: Sep 19 at 12:55PM
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 RE/MAX On The Water
Investment Insights
Based on property information with market context.
This 2,951-square-foot duplex, built in 1893, includes improvements such as a newly poured basement floor. The second unit also features a finished attic area configured for bedroom use. Separate utilities are in place for each unit, with tenants responsible for those services.
The property is positioned near downtown and UWO, directly across from the Winnebago County courthouse. Its two-unit layout, updated elements, and additional finished space create a practical configuration for residential income use.
The property is positioned near downtown and UWO, directly across from the Winnebago County courthouse. Its two-unit layout, updated elements, and additional finished space create a practical configuration for residential income use.
Key Highlights
- 2,951‑square‑foot duplex built in 1893
- Newly poured basement floor
- Finished attic space in Unit 2 used as a bedroom area
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
$19,911
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
7.11%
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%
$398,220
$398.2K
Cap Rate 7%
$284,443
$284.4K
Cap Rate 9%
$221,233
$221.2K
Market Conditions
NOI Build-Up for 2,951 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
$30.1K $10.20/SF
− Vacancy
−$1.7K −$0.56/SF
EGI
$28.4K $9.64/SF
− OpEx
−$8.5K −$2.89/SF
NOI
$19.9K $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%
$398,220
Cap Rate 7%
$284,443
Cap Rate 9%
$221,233
Alternative Uses
Best Use
Multifamily LT 5
$284.4K
$248.9K – $331.9K
NOI $19,911 @ 7.0% cap · market cap 7.11%
Second Best
Apartment 5plus
$256.4K
$224.4K – $299.1K
NOI $17,948 @ 7.0% cap · market cap 6.41%
Theoretical Best
Office A
$636.9K
$557.3K – $743.1K
NOI $44,585 @ 7.0% cap · market cap 15.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,319
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with separately metered utilities and a finished attic area that adds usable bedroom space.
Where is this duplex located?
The property is located at 440 Church Ave Oshkosh, WI.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: 2,951‑square‑foot duplex built in 1893; Newly poured basement floor; Finished attic space in Unit 2 used as a bedroom area
