Updated Duplex with Two
For Sale
$259,900
505 West Irving Avenue, Oshkosh, WI 54901
Two separately metered units offer updated interiors, additional bedroom/bath space, and potential to finish the walk-up attic.
Property Size2,775 SF
Price / SF$93.66
Days on Market125
Property Features for 505 West Irving Avenue
General Information
Standard status
Active
Size
2,775 SF
Property subtype
Multi Family / 2 story
Zoning
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,454
Amenities
Full, Crawl space
Natural Gas
Forced air
Personal property
2 Stoves, 2 Refrigerators, Coin operated laundry
1
2
Aluminum/Steel
Building Details
Year Built
1922
Units
2
Listing Agency:
Briggs Realty Group, Inc
Listed By:
Adam Baumel · License #80200-94
(608) 755-5400
Source:
Compass
Added: Jun 4
Changed: Oct 6
Last Checked: Oct 5 at 8:57PM
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 Briggs Realty Group, Inc
Investment Insights
Based on property information with market context.
This duplex at 505 W Irving Avenue offers two distinct residential units with separate utilities. The main floor unit has been freshly painted and features hardwood flooring, with 3 bedrooms and 1 full bath. The upper unit has updated flooring and retains original hardwood, with 4 bedrooms and 2 full baths.
The property includes a large front porch and ample parking for residents. Public remarks indicate it sits just blocks from campus, positioning the home as a practical housing option for student tenants.
For buyers looking for a straightforward income-producing residential asset, the unit mix provides flexibility for tenant demand while maintaining clear separation between the two households through separate utilities. The walk-up attic presents an additional option for expansion if you choose to finish the space, potentially increasing usable area within the existing structure. Overall, this duplex combines move-in-ready interior updates, comfortable exterior amenities, and a feature that may support future flexibility in how the home is configured for renters.
The property includes a large front porch and ample parking for residents. Public remarks indicate it sits just blocks from campus, positioning the home as a practical housing option for student tenants.
For buyers looking for a straightforward income-producing residential asset, the unit mix provides flexibility for tenant demand while maintaining clear separation between the two households through separate utilities. The walk-up attic presents an additional option for expansion if you choose to finish the space, potentially increasing usable area within the existing structure. Overall, this duplex combines move-in-ready interior updates, comfortable exterior amenities, and a feature that may support future flexibility in how the home is configured for renters.
Key Highlights
- 1922‑built duplex with two separately metered units
- Main floor unit: 3 bedrooms, 1 bath, hardwood flooring, updated and freshly painted interiors
- Upper unit: 4 bedrooms, 2 full baths, updated flooring with original hardwood
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,724
Cap Rate
7.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$374,480
$374.5K
Cap Rate 7%
$267,486
$267.5K
Cap Rate 9%
$208,044
$208.0K
Market Conditions
NOI Build-Up for 2,775 SF
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 Rate 5%
$374,480
Cap Rate 7%
$267,486
Cap Rate 9%
$208,044
Alternative Uses
Best Use
Multifamily LT 5
$267.5K
$234.1K – $312.1K
NOI $18,724 @ 7.0% cap · market cap 7.20%
Second Best
Apartment 5plus
$241.1K
$211.0K – $281.3K
NOI $16,877 @ 7.0% cap · market cap 6.49%
Theoretical Best
Office A
$598.9K
$524.1K – $698.8K
NOI $41,926 @ 7.0% cap · market cap 16.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,046
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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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately metered units offer updated interiors, additional bedroom/bath space, and potential to finish the walk-up attic.
Where is this duplex located?
The property is located at 505 West Irving 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: 1922‑built duplex with two separately metered units; Main floor unit: 3 bedrooms, 1 bath, hardwood flooring, updated and freshly painted interiors; Upper unit: 4 bedrooms, 2 full baths, updated flooring with original hardwood
