Updated Duplex with Vacant
For Sale
$314,900
614-616 Market Street, La Crosse, WI 54601
Spacious duplex features a rented 3-bedroom unit plus a vacant studio with major 2025 upgrades throughout.
Property Size1,410 SF
Price / SF$223.33
Days on Market36
Property Features for 614-616 Market Street
General Information
Standard status
Active
Size
1,410 SF
Property subtype
Two-Family / Two Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,575
Amenities
Full, Full Bath
Vinyl
3.0
1.0
2.0
290.0
10.0
1410.0
Building Details
Year Built
1901
Year Renovated
2025
Listing Agency:
Edina Realty, Inc.
(608) 386-3327
Listed By:
Michele Burton · License #54336-94
(608) 386-3327
Source:
Compass
Added: Jul 6
Changed: Aug 10
Last Checked: Aug 10 at 10:14AM
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 Edina Realty, Inc.
Investment Insights
Based on property information with market context.
This updated duplex includes a rented 3-bedroom, 2.5-bath unit and a vacant studio unit, providing flexibility for an owner-occupant or investor. Major improvements completed in 2025 include a new roof, siding, water heater, windows, LVP flooring, bathroom vanities, tile showers, kitchen cabinetry, and appliances, along with a wall sleeve unit in the studio. The furnace was also recently upgraded.
The property is located just steps from Viterbo University and blocks from Mayo, supporting steady rental demand in the immediate area.
The 3-bedroom/2.5-bath unit is leased through May 2027, while the studio unit can be used as additional living space, rented for short-term stays, or leased long-term.
The property is located just steps from Viterbo University and blocks from Mayo, supporting steady rental demand in the immediate area.
The 3-bedroom/2.5-bath unit is leased through May 2027, while the studio unit can be used as additional living space, rented for short-term stays, or leased long-term.
Key Highlights
- Duplex includes a rented 3‑bedroom, 2.5‑bath unit through May 2027
- Vacant studio unit provides flexibility for owner‑occupancy or rental use
- Major updates completed in 2025: roof, siding, water heater, windows, and furnace upgrade
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
$12,735
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
4.04%
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%
$254,700
$254.7K
Cap Rate 7%
$181,929
$181.9K
Cap Rate 9%
$141,500
$141.5K
Market Conditions
NOI Build-Up for 1,410 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
$19.5K $13.80/SF
− Vacancy
−$1.3K −$0.90/SF
EGI
$18.2K $12.90/SF
− OpEx
−$5.5K −$3.87/SF
NOI
$12.7K $9.03/SF
Area
La Crosse County, WI
Vacancy
6.50%
Lease Rate
$13.80 /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%
$254,700
Cap Rate 7%
$181,929
Cap Rate 9%
$141,500
Alternative Uses
Best Use
Multifamily LT 5
$181.9K
$159.2K – $212.3K
NOI $12,735 @ 7.0% cap · market cap 4.04%
Second Best
Apartment 5plus
$163.7K
$143.2K – $191.0K
NOI $11,459 @ 7.0% cap · market cap 3.64%
Theoretical Best
Specialty Retail
$308.4K
$269.8K – $359.8K
NOI $21,586 @ 7.0% cap · market cap 6.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,318
Businesses Nearby
Explore this area
Business Placement
Demographics for 54601, WI
51,090
Population
22,652
Households
2.3
Avg Household Size
32
Median Age
40%
College-Educated
96%
High-School Grad
75.4 sq mi
ZIP Area
678
Density / Sq Mi
$60,078
Median Household Income
$31,143
Median Earnings
$998
Median Rent
$220,200
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 - Spacious duplex features a rented 3-bedroom unit plus a vacant studio with major 2025 upgrades throughout.
Where is this duplex located?
The property is located at 614-616 Market Street La Crosse, WI.
What is the asking price?
The asking price for this property is $314,900.
What are key features of this property?
This property features: Duplex includes a rented 3‑bedroom, 2.5‑bath unit through May 2027; Vacant studio unit provides flexibility for owner‑occupancy or rental use; Major updates completed in 2025: roof, siding, water heater, windows, and furnace upgrade
