Duplex With Flexible
502 JEFFERSON Street, Waupaca, WI 54981
For Sale
$145,000
Two occupied residences provide current rental income with month-to-month arrangements and future owner-occupancy flexibility.
Property Size1,838 SF
Price / SF$78.89
Days on Market113
Property Features for 502 JEFFERSON Street
General Information
Standard status
Size
Property subtype
Occupancy
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Tenancy
Listing Agency:
Shambeau & Grenlie Real Estate, LLC
Listed By:
Jean M. Grenlie · License WI 91-936610
(715) 258-9900
Source:
C21ace
Added: Jul 20
Changed: Nov 7
Last Checked: Nov 8 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 Shambeau & Grenlie Real Estate, LLC
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Investment Insights
Based on property information with market context.
This 1,838-square-foot duplex contains two separate residences with a practical unit mix. The first apartment has two bedrooms and 1.5 baths, while the second includes one bedroom and one full bath. Both units are occupied under month-to-month tenancies, supporting current rental income while preserving flexibility for future plans. The property does not include a garage and was built in 1900.
Located in Waupaca, the property is minutes from downtown and near shopping, restaurants, parks, and other local amenities. Its two-unit configuration suits an investor seeking an income-producing residential property or an owner-occupant considering a future transition to personal use.
Located in Waupaca, the property is minutes from downtown and near shopping, restaurants, parks, and other local amenities. Its two-unit configuration suits an investor seeking an income-producing residential property or an owner-occupant considering a future transition to personal use.
Key Highlights
- 1,838 SF duplex with two separate residential units
- Unit 1 offers 2 bedrooms and 1.5 baths
- Second unit includes 1 bedroom and 1 full bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,270
Cap Rate
8.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$245,400
$245.4K
Cap Rate 7%
$175,286
$175.3K
Cap Rate 9%
$136,333
$136.3K
Market Conditions
NOI Build-Up for 1,838 SF
Gross rent
$18.7K $10.20/SF
− Vacancy
−$1.2K −$0.66/SF
EGI
$17.5K $9.54/SF
− OpEx
−$5.3K −$2.86/SF
NOI
$12.3K $6.68/SF
Area
Waupaca County, WI
Vacancy
6.50%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$245,400
Cap Rate 7%
$175,286
Cap Rate 9%
$136,333
Alternative Uses
Best Use
Multifamily LT 5
$175.3K
$153.4K – $204.5K
NOI $12,270 @ 7.0% cap · market cap 8.46%
Second Best
Apartment 5plus
$163.8K
$143.3K – $191.1K
NOI $11,464 @ 7.0% cap · market cap 7.91%
Theoretical Best
Office A
$344.3K
$301.2K – $401.7K
NOI $24,099 @ 7.0% cap · market cap 16.62%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
571
Businesses Nearby
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Business Placement
Demographics for 54981, WI
14,998
Population
8,253
Households
1.8
Avg Household Size
47
Median Age
28%
College-Educated
94%
High-School Grad
131.6 sq mi
ZIP Area
114
Density / Sq Mi
$76,821
Median Household Income
$45,326
Median Earnings
$800
Median Rent
$204,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two occupied residences provide current rental income with month-to-month arrangements and future owner-occupancy flexibility.
Where is this duplex located?
The property is located at 502 JEFFERSON Street Waupaca, WI.
What is the asking price?
The asking price for this property is $145,000.
What are key features of this property?
This property features: 1,838 SF duplex with two separate residential units; Unit 1 offers 2 bedrooms and 1.5 baths; Second unit includes 1 bedroom and 1 full bath
