Remodeled Upper-Lower
For Sale
$275,000
833 & 833-1/2 Henrietta Street, Wausau, WI 54403
Vacant two-unit property with updated interiors, separate electric and gas meters, garage parking, and basement storage.
Property Size994 SF
Price / SF$276.66
Days on Market9
Property Features for 833 & 833-1/2 Henrietta Street
General Information
Standard status
Active
Size
994 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
extensively remodeled
Additional Details
Multifamily Units
2
Building Details
Year Built
1925
Buildings
1
Listing Agency:
Kpr Brokers, LLC
Listed By:
Kelly Weiler
(715) 965-1234
Source:
Familytreerealtyllc
Added: Sep 12
Changed: Sep 19
Last Checked: Sep 19 at 9:05AM
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 Kpr Brokers, LLC
Investment Insights
Based on property information with market context.
This upper/lower duplex, built in 1925, has undergone extensive interior updates and is currently vacant. Improvements include new flooring, lighting, ceiling fans, interior doors and hardware, fresh paint, newer windows, and renovated bathrooms. The lower unit also has updated kitchen cabinets. Each unit includes a refrigerator and stove, with one microwave provided. Large rooms and ample windows add functional living space and natural light.
The property includes a 2-car garage with alley access, paved parking near the driveway, and basement access from the lower unit. The basement has been painted, and its foundation walls have been reinforced with gorilla bars. Electric and gas are separately metered, while water is currently billed on one account. The property also has a 100 amp electrical panel and 2 water heaters.
The property includes a 2-car garage with alley access, paved parking near the driveway, and basement access from the lower unit. The basement has been painted, and its foundation walls have been reinforced with gorilla bars. Electric and gas are separately metered, while water is currently billed on one account. The property also has a 100 amp electrical panel and 2 water heaters.
Key Highlights
- Upper/lower duplex built in 1925
- Both units are vacant and include a refrigerator and stove
- Updated flooring, lighting, bathrooms, paint, doors, and hardware
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
$8,311
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
3.02%
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%
$166,220
$166.2K
Cap Rate 7%
$118,729
$118.7K
Cap Rate 9%
$92,344
$92.3K
Market Conditions
NOI Build-Up for 994 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
$12.5K $12.60/SF
− Vacancy
−$651 −$0.66/SF
EGI
$11.9K $11.94/SF
− OpEx
−$3.6K −$3.58/SF
NOI
$8.3K $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 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%
$166,220
Cap Rate 7%
$118,729
Cap Rate 9%
$92,344
Alternative Uses
Best Use
Multifamily LT 5
$118.7K
$103.9K – $138.5K
NOI $8,311 @ 7.0% cap · market cap 3.02%
Second Best
Apartment 5plus
$107.1K
$93.7K – $124.9K
NOI $7,495 @ 7.0% cap · market cap 2.73%
Theoretical Best
Specialty Retail
$183.6K
$160.7K – $214.3K
NOI $12,855 @ 7.0% cap · market cap 4.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,040
Businesses Nearby
Explore this area
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
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Frequently Asked Questions
What type of property is this?
Duplex - Vacant two-unit property with updated interiors, separate electric and gas meters, garage parking, and basement storage.
Where is this duplex located?
The property is located at 833 & 833-1/2 Henrietta Street Wausau, WI.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Upper/lower duplex built in 1925; Both units are vacant and include a refrigerator and stove; Updated flooring, lighting, bathrooms, paint, doors, and hardware
