Building Details

Buildings 1

Tenancy Multi

Listing Agency: FAMILY TREE REALTY, LLC Show Phone

Listed By: KELLY WEILER Show Phone

Source: Exprealty

Added: Jan 16 Changed: Aug 30 Last Checked: Aug 31 at 6:20PM

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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 FAMILY TREE REALTY, LLC

Investment Insights

Based on property information with market context.

This 2,124-square-foot duplex at 800 Love Ln in Athens, WI, is built on a slab with no steps. Each residence includes two bedrooms, one full bathroom, an open kitchen, dining, and living arrangement, a laundry utility room, a back patio, and a one-car attached garage. One bedroom in each unit has a walk-in closet, while each garage includes an additional large storage closet. Appliances are included in the sale and are owned by the landlord.

Both units are fully rented to long-term occupants under month-to-month arrangements. The rental contracts specify no move-outs from November through March. Residents pay all utilities. Lawn care and snow removal have been provided by the owners, with the option for future ownership to change that arrangement.

Key Highlights

• 2,124‑square‑foot duplex built on a slab with no steps
• Each side offers 2 bedrooms, 1 full bath, laundry, patio, and a 1‑car attached garage
• Walk‑in closet in one bedroom per unit

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

$17,760

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

6.70%

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%

$355,200 $355.2K

Cap Rate 7%

$253,714 $253.7K

Cap Rate 9%

$197,333 $197.3K

Market Conditions

NOI Build-Up for 2,124 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

$26.8K $12.60/SF

− Vacancy

−$1.4K −$0.66/SF

EGI

$25.4K $11.94/SF

− OpEx

−$7.6K −$3.58/SF

NOI

$17.8K $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%

$355,200

Cap Rate 7%

$253,714

Cap Rate 9%

$197,333

Alternative Uses

Best Use

Multifamily LT 5

$253.7K

$222.0K – $296.0K (±1% cap)

NOI $17,760 @ 7.0% cap · market cap 6.70%

Second Best

Apartment 5plus

$228.8K

$200.2K – $266.9K (±1% cap)

NOI $16,015 @ 7.0% cap · market cap 6.04%

Theoretical Best

Specialty Retail

$392.4K

$343.4K – $457.8K (±1% cap)

NOI $27,470 @ 7.0% cap · market cap 10.37%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Duplexes

Suggested Use

Top Pick Dental Office HVAC Service Hair Salon Storage Facility (Bike/Boat/Book/etc) Store Bakery

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

Lease Details

2

Residential units

100%

Occupancy

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

162

Businesses Nearby

Explore this area Business Placement

Demographics for 54411, WI

5,025

Population

2,106

Households

2.4

Avg Household Size

41

Median Age

12%

College-Educated

91%

High-School Grad

189.5 sq mi

ZIP Area

27

Density / Sq Mi

$78,646

Median Household Income

$41,061

Median Earnings

$812

Median Rent

$210,800

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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Frequently Asked Questions

What type of property is this?

Duplex - Slab-built duplex with two matching residences, private patios, included appliances, and attached garage parking.

Where is this duplex located?

The property is located at 800 Love Ln Athens, WI.

What is the asking price?

The asking price for this property is $265,000.

What are key features of this property?

This property features: 2,124‑square‑foot duplex built on a slab with no steps; Each side offers 2 bedrooms, 1 full bath, laundry, patio, and a 1‑car attached garage; Walk‑in closet in one bedroom per unit