Updated Four-Unit
New
For Sale
$399,900
1019 E WALNUT Street, Green Bay, WI 54301
Residential Income, GREEN BAY, WI
Property Size3,129 SF
Lot Size0.20 Acres
Price / SF$127.80
Days on Market7
Property Features for 1019 E WALNUT Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family(4Units)
Elementary school district
Green Bay Area
Middle school district
Green Bay Area
High school district
Green Bay Area
Directions
Webster Ave to E Walnut St to property.
Standard status
Active
APN
9-155-01
Size
3,129 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5441
Utilities
Sewer type
Public Sewer
Heating system
Radiant, Hot Water(Heating)
Water source
Public
Amenities
covered porch
basement storage
LVP flooring
refinished hardwood floors
arched doorways
bay bump-out
Building Details
Year built
1868
Number of units
4
Building materials
Vinyl Siding
Listing Agency:
Dallaire Realty
(920) 569-0827
Listed By:
Michael D. Wasilkoff · License #91936940
(920) 676-9300
Added: Sep 21
Changed: Sep 27
Last Checked: Sep 27 at 12:06PM
MLS# 50333066
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 four-unit residential property in Green Bay includes two buildings totaling 3,129 square feet. The primary structure contains three one-bedroom, one-bath apartments, while the detached residence provides three bedrooms and one-and-a-half baths. Interior improvements include LVP flooring, refreshed bathrooms, and refinished hardwood floors in the detached home. Additional features include arched doorways, a covered porch, basement storage, and a bay-style living room extension.
A seven-space asphalt parking area serves the property. Built in 1868, the buildings have vinyl siding and are supported by public water and public sewer. The property is zoned Multi-Family(4Units) and is located at 1019 E WALNUT Street in Green Bay, Wisconsin.
A seven-space asphalt parking area serves the property. Built in 1868, the buildings have vinyl siding and are supported by public water and public sewer. The property is zoned Multi-Family(4Units) and is located at 1019 E WALNUT Street in Green Bay, Wisconsin.
Key Highlights
- Four‑unit property across two buildings
- 3,129 square feet on 0.2 acres
- Unit mix includes three 1BR/1BA units and one 3BR/1.5BA residence
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 separate buildings offer a mix of one- and three-bedroom residences with refreshed interiors and shared parking.
Where is this quadplex located?
The property is located at 1019 E WALNUT Street 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‑unit property across two buildings; 3,129 square feet on 0.2 acres; Unit mix includes three 1BR/1BA units and one 3BR/1.5BA residence
