Two-Story Four-Unit
For Sale
$374,900
238 N OAKLAND Avenue, Green Bay, WI 54303
Residential Income, GREEN BAY, WI
Property Size3,704 SF
Lot Size0.10 Acres
Price / SF$101.21
Days on Market12
Property Features for 238 N OAKLAND Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family(4Units),Res
Parking
1
Lot features
Corner Lot, Near Bus Line, Sidewalk
Elementary school district
Green Bay Area
Middle school district
Green Bay Area
High school district
Green Bay Area
Directions
Dousman St to SE corner of Oakland Ave & Dousman St
Standard status
Active
APN
4-147
Size
3,704 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
4,599 SQ FT DOUSMANS ADDN N 70 FT OF LOT 191 & N 70 FT OF W 1/2 OF LOT 192
Tax Annual Amount
3189
Legal Description
4,599 SQ FT DOUSMANS ADDN N 70 FT OF LOT 191 & N 70 FT OF W 1/2 OF LOT 192
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Amenities
front porch
Building Details
Year built
1900
Number of units
4
Building materials
Vinyl Siding
Listing Agency:
Dallaire Realty
(920) 569-0827
Listed By:
Andrew J. Brisson · License #91936940
(920) 213-5810
Added: Sep 1
Changed: Sep 11
Last Checked: Sep 12 at 9:06AM
MLS# 50332171
Copyright © 2026 Realtor Association of Northeast Wisconsin. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story quadplex contains four residential units within a 3,704-square-foot building. The two upper apartments each offer 2 bedrooms and 1 bathroom, while the lower level includes two 1-bedroom, 1-bathroom units. The property was built in 1900 and has a low-maintenance exterior finished with updated vinyl siding and a newer front porch.
Located near downtown Green Bay, the property is served by public water and public sewer. Heating is provided by forced air. The parcel encompasses 0.1 acres and carries Multi-Family(4Units),Res zoning. An adjacent duplex property to the south is also available for purchase, offering a potential opportunity to acquire neighboring residential income assets.
Located near downtown Green Bay, the property is served by public water and public sewer. Heating is provided by forced air. The parcel encompasses 0.1 acres and carries Multi-Family(4Units),Res zoning. An adjacent duplex property to the south is also available for purchase, offering a potential opportunity to acquire neighboring residential income assets.
Key Highlights
- Four‑unit, two‑story building with 3,704 square feet
- Unit mix includes two 2BR/1BA upper apartments and two 1BR/1BA lower apartments
- Updated vinyl siding and newer front porch
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
$32,343
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
8.63%
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%
$646,860
$646.9K
Cap Rate 7%
$462,043
$462.0K
Cap Rate 9%
$359,367
$359.4K
Market Conditions
NOI Build-Up for 3,704 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
$48.9K $13.20/SF
− Vacancy
−$2.7K −$0.73/SF
EGI
$46.2K $12.47/SF
− OpEx
−$13.9K −$3.74/SF
NOI
$32.3K $8.73/SF
Area
Green Bay, WI
Vacancy
5.50%
Lease Rate
$13.20 /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%
$646,860
Cap Rate 7%
$462,043
Cap Rate 9%
$359,367
Alternative Uses
Best Use
Multifamily LT 5
$462.0K
$404.3K – $539.1K
NOI $32,343 @ 7.0% cap · market cap 8.63%
Second Best
Apartment 5plus
$430.4K
$376.6K – $502.1K
NOI $30,128 @ 7.0% cap · market cap 8.04%
Theoretical Best
Office A
$863.6K
$755.6K – $1.01M
NOI $60,449 @ 7.0% cap · market cap 16.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,285
Businesses Nearby
Explore this area
Business Placement
Demographics for 54303, WI
27,478
Population
13,088
Households
2.1
Avg Household Size
36
Median Age
18%
College-Educated
91%
High-School Grad
11.5 sq mi
ZIP Area
2,389
Density / Sq Mi
$58,110
Median Household Income
$38,983
Median Earnings
$859
Median Rent
$160,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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?
Quadplex - Four-unit residential property with updated vinyl siding, newer porch, and a mix of one- and two-bedroom apartments.
Where is this quadplex located?
The property is located at 238 N OAKLAND Avenue Green Bay, WI.
What is the asking price?
The asking price for this property is $374,900.
What are key features of this property?
This property features: Four‑unit, two‑story building with 3,704 square feet; Unit mix includes two 2BR/1BA upper apartments and two 1BR/1BA lower apartments; Updated vinyl siding and newer front porch
