Updated Duplex With Vacant
For Sale
$289,900
685 FRANKLIN Street, Oshkosh, WI 54901
The lower residence is vacant, allowing a new owner to choose occupancy or tenancy.
Property Size3,490 SF
Price / SF$83.07
Days on Market23
Property Features for 685 FRANKLIN Street
General Information
Standard status
Active
Size
3,490 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,272
Building Details
Building Size
3,490 SF
Year Built
1920
Listing Agency:
Real Broker LLC
(920) 475-5558
Listed By:
Kyle D. Meyer · License #91-938769
(920) 475-5558
Source:
C21ace
Added: Aug 7
Changed: Aug 21
Last Checked: Aug 28 at 5:10PM
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 Real Broker LLC
Investment Insights
Based on property information with market context.
This upper-and-lower duplex contains 3,490 square feet across two residential units. Built in 1920, the property has received recent improvements including new flooring, fresh paint, and a bathroom update. The lower unit is unoccupied, while the two-level configuration provides separate residential spaces within one building.
Located in Oshkosh, Wisconsin, the property can support an owner-occupant arrangement or continued use as a two-unit rental property. The vacant lower residence gives the next owner flexibility to establish occupancy or select a tenant.
Located in Oshkosh, Wisconsin, the property can support an owner-occupant arrangement or continued use as a two-unit rental property. The vacant lower residence gives the next owner flexibility to establish occupancy or select a tenant.
Key Highlights
- Upper‑and‑lower duplex with 3,490 square feet
- Lower unit is currently vacant
- Recent flooring, paint, and bathroom improvements
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
$23,548
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
8.12%
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%
$470,960
$471.0K
Cap Rate 7%
$336,400
$336.4K
Cap Rate 9%
$261,644
$261.6K
Market Conditions
NOI Build-Up for 3,490 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
$35.6K $10.20/SF
− Vacancy
−$2.0K −$0.56/SF
EGI
$33.6K $9.64/SF
− OpEx
−$10.1K −$2.89/SF
NOI
$23.5K $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%
$470,960
Cap Rate 7%
$336,400
Cap Rate 9%
$261,644
Alternative Uses
Best Use
Multifamily LT 5
$336.4K
$294.4K – $392.5K
NOI $23,548 @ 7.0% cap · market cap 8.12%
Second Best
Apartment 5plus
$303.2K
$265.3K – $353.8K
NOI $21,226 @ 7.0% cap · market cap 7.32%
Theoretical Best
Office A
$753.3K
$659.1K – $878.8K
NOI $52,729 @ 7.0% cap · market cap 18.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,319
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
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 - The lower residence is vacant, allowing a new owner to choose occupancy or tenancy.
Where is this duplex located?
The property is located at 685 FRANKLIN Street Oshkosh, WI.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: Upper‑and‑lower duplex with 3,490 square feet; Lower unit is currently vacant; Recent flooring, paint, and bathroom improvements
