Duplex With Flexible
For Sale
$194,500
502 JEFFERSON Street, Waupaca, WI 54981
Two occupied residences provide current rental income with month-to-month arrangements and future owner-occupancy flexibility.
Property Size1,838 SF
Price / SF$105.82
Days on Market17
Property Features for 502 JEFFERSON Street
General Information
Standard status
Active
Size
1,838 SF
Property subtype
Duplex
Occupancy
100%
Units
Unit Mix
1 x 2BR/1.5BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,391
Building Details
Building Size
1,838 SF
Year Built
1900
Buildings
1
Tenancy
Multi
Listing Agency:
Shambeau & Grenlie Real Estate, LLC
(715) 258-9900
Listed By:
Jean M. Grenlie · License #91-936610
(715) 258-9900
Source:
C21ace
Added: Jul 20
Changed: Aug 4
Last Checked: Aug 5 at 5:11AM
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
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 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 | $18.7k | $10.20 |
| − Vacancy | −$1.2k | −$0.66 |
| EGI | $17.5k | $9.54 |
| − OpEx | −$5.3k | −$2.86 |
| NOI | $12.3k | $6.68 |
1,838 SF · lease $10.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$175.3K
$153.4K – $204.5K
NOI $12,270 @ 7.0% cap · market cap 6.31%
Second Best
Apartment 5plus
$163.8K
$143.3K – $191.1K
NOI $11,464 @ 7.0% cap · market cap 5.89%
Theoretical Best
Office A
$344.3K
$301.2K – $401.7K
NOI $24,099 @ 7.0% cap · market cap 12.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
495
Businesses Nearby
Explore this area
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
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 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 $194,500.
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
