Four-Unit Multifamily
New
For Sale
$399,900
1019 E Walnut St, Green Bay, WI 54301
Two buildings provide a mix of one-bedroom apartments and a separate three-bedroom residence.
Property Size3,129 SF
Price / SF$127.80
Days on Market4
Property Features for 1019 E Walnut St
General Information
Standard status
Active
Size
3,129 SF
Total Parking Spaces
7
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1.5BA, 3 x 1BR/1BA
Multifamily Units
4
Building Details
Year Built
1868
Buildings
2
Listed By:
Shane Renard - Principal Broker Owner
(920) 606-4436
Source:
Renardrealtygroup
Added: Sep 24
Last Checked: Sep 26 at 6:36AM
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 3,129-square-foot multifamily property at 1019 E Walnut St in Green Bay comprises four units across two buildings. The primary building contains three one-bedroom, one-bathroom apartments; a detached residence behind it offers three bedrooms and one-and-a-half bathrooms. Interior improvements include LVP flooring and updated bathrooms, while the detached home has refinished hardwood floors and arched doorways.
The property includes a seven-space asphalt parking lot. One apartment has a covered porch and basement storage, and another features an expanded living area with a bay window configuration. The property was built in 1868.
The property includes a seven-space asphalt parking lot. One apartment has a covered porch and basement storage, and another features an expanded living area with a bay window configuration. The property was built in 1868.
Key Highlights
- Four units in two buildings, including three 1BR/1BA apartments and one 3BR/1.5BA detached home
- 3,129 square feet; built in 1868
- Seven‑space asphalt parking lot
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
$27,322
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
6.83%
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%
$546,440
$546.4K
Cap Rate 7%
$390,314
$390.3K
Cap Rate 9%
$303,578
$303.6K
Market Conditions
NOI Build-Up for 3,129 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
$41.3K $13.20/SF
− Vacancy
−$2.3K −$0.73/SF
EGI
$39.0K $12.47/SF
− OpEx
−$11.7K −$3.74/SF
NOI
$27.3K $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%
$546,440
Cap Rate 7%
$390,314
Cap Rate 9%
$303,578
Alternative Uses
Best Use
Multifamily LT 5
$390.3K
$341.5K – $455.4K
NOI $27,322 @ 7.0% cap · market cap 6.83%
Second Best
Apartment 5plus
$363.6K
$318.1K – $424.2K
NOI $25,451 @ 7.0% cap · market cap 6.36%
Theoretical Best
Office A
$729.5K
$638.3K – $851.1K
NOI $51,065 @ 7.0% cap · market cap 12.77%
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
1,802
Businesses Nearby
Explore this area
Business Placement
Demographics for 54301, WI
22,875
Population
10,532
Households
2.2
Avg Household Size
39
Median Age
38%
College-Educated
94%
High-School Grad
6.5 sq mi
ZIP Area
3,519
Density / Sq Mi
$76,768
Median Household Income
$45,717
Median Earnings
$929
Median Rent
$205,900
Median Home Value
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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 - Two buildings provide a mix of one-bedroom apartments and a separate three-bedroom residence.
Where is this quadplex located?
The property is located at 1019 E Walnut St Green Bay, WI.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Four units in two buildings, including three 1BR/1BA apartments and one 3BR/1.5BA detached home; 3,129 square feet; built in 1868; Seven‑space asphalt parking lot
