Updated Duplex with Separate
For Sale
$224,900
635 South 4th Avenue, Wausau, WI 54401
Residential duplex with laundry connections serving both the basement and upper unit.
Property Size1,940 SF
Price / SF$115.93
Days on Market71
Property Features for 635 South 4th Avenue
General Information
Standard status
Active
Size
1,940 SF
Property subtype
Residential Income / Duplex
Zoning
Residential
Taxes and HOA fees
Annual Taxes
$3,118
Amenities
Ceiling Fan(s)
No
Forced Air, Natural Gas
Dryer, Refrigerator, Range, Washer, Electric Water Heater
Yes
Electric
Porch
Building Details
Year Built
1905
Listing Agency:
HOLSTER MANAGEMENT
(715) 370-5958
Listed By:
JASON PEAK · License #68483-94
(715) 370-5958
Source:
Compass
Added: Jun 23
Changed: Aug 30
Last Checked: Aug 30 at 2:45PM
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 HOLSTER MANAGEMENT
Investment Insights
Based on property information with market context.
This residential duplex, built in 1905, offers two living units with separate breaker boxes and laundry hookups in both the basement and upper unit. The property includes a high-efficiency furnace, forced-air natural gas heating, copper/PVC plumbing, fiberglass tubs, and an electric water heater. Interior details include high ceilings, raised-panel doors, French doors, a built-in bookshelf, and maple flooring. Appliances listed for the property include a range, refrigerator, washer, and dryer.
Exterior features include a wraparound deck with new decking and fluted columns, along with a porch. The property is zoned Residential and is located at 635 South 4th Avenue in Wausau, Wisconsin.
Exterior features include a wraparound deck with new decking and fluted columns, along with a porch. The property is zoned Residential and is located at 635 South 4th Avenue in Wausau, Wisconsin.
Key Highlights
- Duplex with separate breaker boxes for the units
- Laundry hookups located in both the basement and upper unit
- High‑efficiency furnace with forced‑air natural gas heating
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
$16,221
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
7.21%
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%
$324,420
$324.4K
Cap Rate 7%
$231,729
$231.7K
Cap Rate 9%
$180,233
$180.2K
Market Conditions
NOI Build-Up for 1,940 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
$24.4K $12.60/SF
− Vacancy
−$1.3K −$0.66/SF
EGI
$23.2K $11.94/SF
− OpEx
−$7.0K −$3.58/SF
NOI
$16.2K $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 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%
$324,420
Cap Rate 7%
$231,729
Cap Rate 9%
$180,233
Alternative Uses
Best Use
Multifamily LT 5
$231.7K
$202.8K – $270.4K
NOI $16,221 @ 7.0% cap · market cap 7.21%
Second Best
Apartment 5plus
$209.0K
$182.8K – $243.8K
NOI $14,627 @ 7.0% cap · market cap 6.50%
Theoretical Best
Specialty Retail
$358.4K
$313.6K – $418.2K
NOI $25,090 @ 7.0% cap · market cap 11.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
540
Businesses Nearby
Explore this area
Business Placement
Demographics for 54401, WI
31,727
Population
14,230
Households
2.2
Avg Household Size
40
Median Age
31%
College-Educated
91%
High-School Grad
84.2 sq mi
ZIP Area
377
Density / Sq Mi
$69,542
Median Household Income
$40,796
Median Earnings
$969
Median Rent
$186,100
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 - Residential duplex with laundry connections serving both the basement and upper unit.
Where is this duplex located?
The property is located at 635 South 4th Avenue Wausau, WI.
What is the asking price?
The asking price for this property is $224,900.
What are key features of this property?
This property features: Duplex with separate breaker boxes for the units; Laundry hookups located in both the basement and upper unit; High‑efficiency furnace with forced‑air natural gas heating
