Updated Two-Family
New
For Sale
$240,000
610 W IRVING Avenue, Oshkosh, WI 54901
Separate utilities, refreshed interiors, and proximity to the UWO campus support flexible rental or owner-occupant use.
Property Size2,472 SF
Price / SF$97.09
Days on Market7
Property Features for 610 W IRVING Avenue
General Information
Standard status
Active
Size
2,472 SF
Total Parking Spaces
2
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,038
Amenities
handicap ramp
Building Details
Building Size
2,472 SF
Year Built
1890
Buildings
1
Listing Agency:
RE/MAX On The Water
Listed By:
Jack R. Doemel · License #91-936379
(920) 379-6843
Source:
C21ace
Added: Sep 14
Changed: Sep 18
Last Checked: Sep 19 at 11:45AM
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.
Built in 1890, this two-family residence offers 2,472 square feet with separate utilities and updates across both units. Improvements include newer flooring and carpeting, 16 vinyl windows, fresh interior paint, air conditioning in the lower unit, and a new hot water boiler serving the upper unit. Plumbing upgrades and first-floor laundry add practical functionality, while a handicap ramp improves access.
The cedar shake exterior was repainted in 2025, and new gutters with downspouts were added in 2026. Landscaping work complements the oversized lot, which also includes a two-car garage. Positioned near the UWO campus at 610 W Irving Ave in Oshkosh, the property combines established residential character with updated operating features.
The cedar shake exterior was repainted in 2025, and new gutters with downspouts were added in 2026. Landscaping work complements the oversized lot, which also includes a two-car garage. Positioned near the UWO campus at 610 W Irving Ave in Oshkosh, the property combines established residential character with updated operating features.
Key Highlights
- Two‑family property with 2,472 square feet and separate utilities
- Built in 1890 with 16 newer vinyl windows and refreshed interior finishes
- Air conditioning added to the lower unit; new hot water boiler for the upper unit
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
$16,679
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
6.95%
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%
$333,580
$333.6K
Cap Rate 7%
$238,271
$238.3K
Cap Rate 9%
$185,322
$185.3K
Market Conditions
NOI Build-Up for 2,472 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
$25.2K $10.20/SF
− Vacancy
−$1.4K −$0.56/SF
EGI
$23.8K $9.64/SF
− OpEx
−$7.1K −$2.89/SF
NOI
$16.7K $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%
$333,580
Cap Rate 7%
$238,271
Cap Rate 9%
$185,322
Alternative Uses
Best Use
Multifamily LT 5
$238.3K
$208.5K – $278.0K
NOI $16,679 @ 7.0% cap · market cap 6.95%
Second Best
Apartment 5plus
$214.8K
$187.9K – $250.6K
NOI $15,034 @ 7.0% cap · market cap 6.26%
Theoretical Best
Office A
$533.5K
$466.9K – $622.5K
NOI $37,348 @ 7.0% cap · market cap 15.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
988
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Separate utilities, refreshed interiors, and proximity to the UWO campus support flexible rental or owner-occupant use.
Where is this duplex located?
The property is located at 610 W IRVING Avenue Oshkosh, WI.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Two‑family property with 2,472 square feet and separate utilities; Built in 1890 with 16 newer vinyl windows and refreshed interior finishes; Air conditioning added to the lower unit; new hot water boiler for the upper unit
