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Monroe House 1700 Monroe St 24 Unit Apartment Building $480,000 ($20,000/Unit) 11.93% Cap Rate Stevens Point, WI 54481
Investment Highlights
- All inclusive rental model - tenants pay a flat monthly rate that covers heat, electricity, water, sewer, and WI-FI.
- Over 9000 square feet of space - lots of communal rooms and plenty of storage space in the basement
Executive Summary
Licensed 24-unit rooming house with strong income potential. Units currently being repaired with new boiler installation in progress. Opportunity for value-add investment. Building materials included in sale.
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $480,000 | Apartment Style | Low-Rise |
| Price Per Unit | $20,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.34 AC |
| Cap Rate | 11.93% | Building Size | 7,358 SF |
| Sale Condition | REO Sale | Average Occupancy | 58% |
| Gross Rent Multiplier | 4.28 | No. Stories | 2 |
| No. Units | 24 | Year Built/Renovated | 1995/2026 |
| Property Type | Multifamily | Parking Ratio | 3.26/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | C Commercial - Zoned B4 Commercial, allowing for a wide range of commercial and mixed-use applications. | ||
| Price | $480,000 |
| Price Per Unit | $20,000 |
| Sale Type | Investment |
| Cap Rate | 11.93% |
| Sale Condition | REO Sale |
| Gross Rent Multiplier | 4.28 |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 7,358 SF |
| Average Occupancy | 58% |
| No. Stories | 2 |
| Year Built/Renovated | 1995/2026 |
| Parking Ratio | 3.26/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | C Commercial - Zoned B4 Commercial, allowing for a wide range of commercial and mixed-use applications. |
Amenities
- Smoke Detector
Unit Amenities
- Storage Space
- Washer/Dryer
- Ceiling Fans
- Wi-Fi
- Basement
Site Amenities
- Property Manager on Site
- Bicycle Storage
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 21 | $275.00 | 96 - 140 |
| Studios | 3 | $525.00 | 180 - 375 |
1 1
Somewhat walkable
30/100
Very drivable
80/100
Moderately bikeable
60/100
Property Taxes
| Parcel Numbers | Total Assessment | $281,500 (2025) | |
| Land Assessment | $56,700 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $224,800 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Numbers
Land Assessment
$56,700 (2025)
Improvements Assessment
$224,800 (2025)
Total Assessment
$281,500 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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Prosper Real Estate
Monroe House | 1700 Monroe St
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