Two-Unit Duplex with Partial
New
For Sale
$89,900
906 N 1st Avenue, Wausau, WI 54401
Separate utility services and individual electrical panels support the two residential units.
Property Size671 SF
Price / SF$133.98
Days on Market7
Property Features for 906 N 1st Avenue
General Information
Standard status
Active
Size
671 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
will require TLC
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1890
Listing Agency:
Empower Real Estate
(715) 965-1234
Listed By:
Kelly Weiler
(715) 965-1234
Source:
Familytreerealtyllc
Added: Aug 26
Changed: Aug 31
Last Checked: Aug 31 at 2:40PM
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 Empower Real Estate
Investment Insights
Based on property information with market context.
This duplex contains two residential units, with each offering 2 bedrooms, 1 bathroom, and access to a partial basement. Vinyl windows, separate electric and gas utilities, and a dedicated 100-amp electrical panel for each unit are included. The property is being sold as-is and requires TLC, with interior work needed before occupancy or continued use.
Located at 906 N 1st Avenue in Wausau, Wisconsin, the property is accessed most conveniently from the alley off W. Wausau Avenue. Entry requires caution: the stairs to the upper unit need attention, and the last few steps leading to the basement are broken. Built in 1890, the duplex offers a two-unit configuration for an owner or investor prepared to address the existing condition.
Located at 906 N 1st Avenue in Wausau, Wisconsin, the property is accessed most conveniently from the alley off W. Wausau Avenue. Entry requires caution: the stairs to the upper unit need attention, and the last few steps leading to the basement are broken. Built in 1890, the duplex offers a two-unit configuration for an owner or investor prepared to address the existing condition.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom per unit
- Partial basement included
- Separate electric and gas utilities for the units
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
$5,610
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
6.24%
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%
$112,200
$112.2K
Cap Rate 7%
$80,143
$80.1K
Cap Rate 9%
$62,333
$62.3K
Market Conditions
NOI Build-Up for 671 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
$8.5K $12.60/SF
− Vacancy
−$440 −$0.66/SF
EGI
$8.0K $11.94/SF
− OpEx
−$2.4K −$3.58/SF
NOI
$5.6K $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%
$112,200
Cap Rate 7%
$80,143
Cap Rate 9%
$62,333
Alternative Uses
Best Use
Multifamily LT 5
$80.1K
$70.1K – $93.5K
NOI $5,610 @ 7.0% cap · market cap 6.24%
Second Best
Apartment 5plus
$72.3K
$63.2K – $84.3K
NOI $5,059 @ 7.0% cap · market cap 5.63%
Theoretical Best
Specialty Retail
$124.0K
$108.5K – $144.6K
NOI $8,678 @ 7.0% cap · market cap 9.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
394
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 - Separate utility services and individual electrical panels support the two residential units.
Where is this duplex located?
The property is located at 906 N 1st Avenue Wausau, WI.
What is the asking price?
The asking price for this property is $89,900.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bathroom per unit; Partial basement included; Separate electric and gas utilities for the units
