Updated Duplex with Vacant Upper
616 Chicago Ave, Wausau, WI 54403
For Sale
$246,900
Upper and lower units support flexible occupancy, with separate gas and electric meters for each residence.
Property Size1,944 SF
Price / SF$127.01
Days on Market54
Property Features for 616 Chicago Ave
General Information
Standard status
Size
Property subtype
Taxes and HOA fees
Annual Taxes
Listing Agency:
eXp Realty, LLC
Listed By:
CAROLYN MCNAMARA · License #8244194
(715) 347-4303
Source:
Exprealty
Added: Sep 15
Changed: Oct 26
Last Checked: Nov 6 at 12:42PM
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 eXp Realty, LLC
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Investment Insights
Based on property information with market context.
This two-unit duplex at 616 Chicago Avenue in Wausau, Wisconsin, dates to 1900 and contains 1,056 square feet. The lower residence has been substantially refreshed with knotty alder cabinetry, granite countertops, stainless steel appliances, engineered hardwood in the main living areas, and a primary suite with a walk-in closet and tiled walk-in shower. The upper unit is vacant and has updated cabinetry, countertops, and flooring, along with professional cleaning.
Property improvements include a roof installed in 2017, furnaces and electrical panels added in 2018, and garage siding and roofing completed in 2025. Separate gas and electric meters serve the two units, supporting distinct occupancy arrangements. The upper-lower layout accommodates an owner occupant, separate tenants, or a combination of both.
Property improvements include a roof installed in 2017, furnaces and electrical panels added in 2018, and garage siding and roofing completed in 2025. Separate gas and electric meters serve the two units, supporting distinct occupancy arrangements. The upper-lower layout accommodates an owner occupant, separate tenants, or a combination of both.
Key Highlights
- Two‑unit upper/lower duplex with 1,056 square feet
- Lower unit features knotty alder cabinetry, granite counters, stainless appliances, and an updated primary suite
- Vacant upper unit has refreshed cabinetry, countertops, flooring, and professional cleaning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,254
Cap Rate
6.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$325,080
$325.1K
Cap Rate 7%
$232,200
$232.2K
Cap Rate 9%
$180,600
$180.6K
Market Conditions
NOI Build-Up for 1,944 SF
Gross rent
$24.5K $12.60/SF
− Vacancy
−$1.3K −$0.66/SF
EGI
$23.2K $11.94/SF
− OpEx
−$7.0K −$3.58/SF
NOI
$16.3K $8.36/SF
Area
Marathon County, WI
Vacancy
5.20%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$325,080
Cap Rate 7%
$232,200
Cap Rate 9%
$180,600
Alternative Uses
Best Use
Multifamily LT 5
$232.2K
$203.2K – $270.9K
NOI $16,254 @ 7.0% cap · market cap 6.58%
Second Best
Apartment 5plus
$209.4K
$183.2K – $244.3K
NOI $14,657 @ 7.0% cap · market cap 5.94%
Theoretical Best
Specialty Retail
$359.2K
$314.3K – $419.0K
NOI $25,142 @ 7.0% cap · market cap 10.18%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
518
Businesses Nearby
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Business Placement
Demographics for 54403, WI
24,712
Population
11,171
Households
2.2
Avg Household Size
41
Median Age
33%
College-Educated
95%
High-School Grad
133.6 sq mi
ZIP Area
185
Density / Sq Mi
$66,040
Median Household Income
$41,670
Median Earnings
$942
Median Rent
$179,400
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 - Upper and lower units support flexible occupancy, with separate gas and electric meters for each residence.
Where is this duplex located?
The property is located at 616 Chicago Ave Wausau, WI.
What is the asking price?
The asking price for this property is $246,900.
What are key features of this property?
This property features: Two‑unit upper/lower duplex with 1,056 square feet; Lower unit features knotty alder cabinetry, granite counters, stainless appliances, and an updated primary suite; Vacant upper unit has refreshed cabinetry, countertops, flooring, and professional cleaning
