Building Details

Building Size 1,600 SF

Year Built 1990

Listing Agency: RE/MAX Results

Listed By: Danika McLaughlin Show Phone

Source: Visionsfirstrealty

Added: Sep 28 Changed: Sep 30 Last Checked: Oct 5 at 3:08PM

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Investment Insights

Based on property information with market context.

This 1990 duplex comprises two units: one has a bedroom and a bathroom and has been recently renovated; the other offers three bedrooms, one bathroom, and a full unfinished basement. Electric baseboard heat serves the property. The building is set on 38 acres in South Range, Wisconsin.

Key Highlights

• 38 acres in South Range, Wisconsin
• Duplex built in 1990
• One unit has 1 bedroom and 1 bathroom and was recently renovated

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$13,336

Cap Rate

5.80%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$266,720 $266.7K

Cap Rate 7%

$190,514 $190.5K

Cap Rate 9%

$148,178 $148.2K

Market Conditions

NOI Build-Up for 1,600 SF

Gross rent

$20.2K $12.60/SF

− Vacancy

−$1.1K −$0.69/SF

EGI

$19.1K $11.91/SF

− OpEx

−$5.7K −$3.57/SF

NOI

$13.3K $8.33/SF

Area

Douglas County, WI

Vacancy

5.50%

Lease Rate

$12.60 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$266,720

Cap Rate 7%

$190,514

Cap Rate 9%

$148,178

Alternative Uses

Best Use

Multifamily LT 5

$190.5K

$166.7K – $222.3K (±1% cap)

NOI $13,336 @ 7.0% cap · market cap 5.80%

Second Best

Apartment 5plus

$167.7K

$146.7K – $195.6K (±1% cap)

NOI $11,737 @ 7.0% cap · market cap 5.10%

Theoretical Best

Specialty Retail

$504.5K

$441.4K – $588.6K (±1% cap)

NOI $35,313 @ 7.0% cap · market cap 15.35%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Restaurant Bar & Pub

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

Explore this area Business Placement

Demographics for 54874, WI

3,568

Population

1,660

Households

2.1

Avg Household Size

44

Median Age

24%

College-Educated

96%

High-School Grad

144.7 sq mi

ZIP Area

25

Density / Sq Mi

$83,350

Median Household Income

$45,431

Median Earnings

$966

Median Rent

$206,500

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Duplex - Two separate residences sit on a large acreage parcel in South Range.

Where is this duplex located?

The property is located at 7293 S Kip Rd South Range, WI.

What is the asking price?

The asking price for this property is $230,000.

What are key features of this property?

This property features: 38 acres in South Range, Wisconsin; Duplex built in 1990; One unit has 1 bedroom and 1 bathroom and was recently renovated