Duplex With Large
New
For Sale
$175,000
922 Merritt Ave, Oshkosh, WI 54901
Two-unit property featuring built-in storage, wood flooring, and a month-to-month upper-unit tenancy.
Property Size2,121 SF
Price / SF$82.51
Days on Market5
Property Features for 922 Merritt Ave
General Information
Standard status
Active
Size
2,121 SF
Property subtype
Multi-Family
Building Details
Year Built
1907
Listing Agency:
(920) 606-4436
Listed By:
Shane Renard - Principal Broker Owner
(920) 606-4436
Source:
Renardrealtygroup
Added: Aug 26
Changed: Aug 30
Last Checked: Aug 26 at 12:53PM
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 Shane Renard - Principal Broker Owner
Investment Insights
Based on property information with market context.
This 1907 duplex offers 2,121 square feet across two residential units. Interior features include built-in storage, character woodwork, wood flooring, and abundant natural light. The main unit includes a pantry, while the property also provides a large sitting porch.
The upper unit is occupied on a month-to-month rental arrangement. The configuration supports either an owner-occupant structure or continued use as a two-unit residential property.
The upper unit is occupied on a month-to-month rental arrangement. The configuration supports either an owner-occupant structure or continued use as a two-unit residential property.
Key Highlights
- 2,121‑square‑foot duplex
- Built in 1907
- Upper unit rented month to month
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
$14,311
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
8.18%
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%
$286,220
$286.2K
Cap Rate 7%
$204,443
$204.4K
Cap Rate 9%
$159,011
$159.0K
Market Conditions
NOI Build-Up for 2,121 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
$21.6K $10.20/SF
− Vacancy
−$1.2K −$0.56/SF
EGI
$20.4K $9.64/SF
− OpEx
−$6.1K −$2.89/SF
NOI
$14.3K $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%
$286,220
Cap Rate 7%
$204,443
Cap Rate 9%
$159,011
Alternative Uses
Best Use
Multifamily LT 5
$204.4K
$178.9K – $238.5K
NOI $14,311 @ 7.0% cap · market cap 8.18%
Second Best
Apartment 5plus
$184.3K
$161.3K – $215.0K
NOI $12,900 @ 7.0% cap · market cap 7.37%
Theoretical Best
Office A
$457.8K
$400.6K – $534.1K
NOI $32,045 @ 7.0% cap · market cap 18.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
321
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property featuring built-in storage, wood flooring, and a month-to-month upper-unit tenancy.
Where is this duplex located?
The property is located at 922 Merritt Ave Oshkosh, WI.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: 2,121‑square‑foot duplex; Built in 1907; Upper unit rented month to month
