Fully Occupied Duplex With Vinyl
For Sale
$159,900
1026 South 14th Street, Manitowoc, WI 54220
Spacious duplex with vinyl windows, a 3-bedroom and a 2-bedroom, both currently occupied; tenants pay utilities.
Property Size7,405 SF
Price / SF$21.59
Days on Market116
Property Features for 1026 South 14th Street
General Information
Standard status
Active
Size
7,405 SF
Property subtype
Multi-Family / Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
2
Amenities
Walk Out/Outer Door, Full, Yes
Vinyl
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
Coldwell Banker Real Estate Group~Manitowoc
Listed By:
Matthew Mueller · License #55210-90
(920) 242-6550
Source:
Compass
Added: May 13
Changed: Aug 8
Last Checked: Jul 21 at 7:58PM
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 Coldwell Banker Real Estate Group~Manitowoc
Investment Insights
Based on property information with market context.
This fully occupied duplex is designed for straightforward ownership, with a low-maintenance exterior and vinyl windows throughout. The property includes two spacious units: an upper 3-bedroom and a lower 2-bedroom. The upper unit is currently leased at $995, and the lower unit is month-to-month at $1,150. Tenants are responsible for all utilities.
Located in Manitowoc, the duplex is conveniently positioned close to schools, parks, and everyday amenities, supporting ongoing rental demand.
For investors or buyers looking for a residential income property with an existing tenant setup, this duplex offers two separate units with distinct bedroom configurations and current in-place occupancy.
Located in Manitowoc, the duplex is conveniently positioned close to schools, parks, and everyday amenities, supporting ongoing rental demand.
For investors or buyers looking for a residential income property with an existing tenant setup, this duplex offers two separate units with distinct bedroom configurations and current in-place occupancy.
Key Highlights
- Fully occupied duplex with a 3‑bedroom unit and a 2‑bedroom unit
- Upper unit leased at $995; lower unit is MTM at $1,150
- Tenants are responsible for all utilities
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
$12,169
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
7.61%
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%
$243,380
$243.4K
Cap Rate 7%
$173,843
$173.8K
Cap Rate 9%
$135,211
$135.2K
Market Conditions
NOI Build-Up for 7,405 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
$88.9K $12.00/SF
− Vacancy
−$66.7K −$9.01/SF
EGI
$22.1K $2.99/SF
− OpEx
−$10.0K −$1.34/SF
NOI
$12.2K $1.64/SF
Area
Manitowoc County, WI
Vacancy
75.10%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
45.00%
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%
$243,380
Cap Rate 7%
$173,843
Cap Rate 9%
$135,211
Alternative Uses
Best Use
Multifamily LT 5
$216.5K
$189.4K – $252.6K
NOI $15,153 @ 7.0% cap · market cap 9.48%
Second Best
Apartment 5plus
$173.8K
$152.1K – $202.8K
NOI $12,169 @ 7.0% cap · market cap 7.61%
Theoretical Best
Specialty Retail
$1.62M
$1.42M – $1.89M
NOI $113,596 @ 7.0% cap · market cap 71.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
190
Businesses Nearby
Explore this area
Business Placement
Demographics for 54220, WI
40,737
Population
18,942
Households
2.2
Avg Household Size
44
Median Age
24%
College-Educated
91%
High-School Grad
98.7 sq mi
ZIP Area
413
Density / Sq Mi
$65,188
Median Household Income
$40,791
Median Earnings
$790
Median Rent
$159,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Spacious duplex with vinyl windows, a 3-bedroom and a 2-bedroom, both currently occupied; tenants pay utilities.
Where is this duplex located?
The property is located at 1026 South 14th Street Manitowoc, WI.
What is the asking price?
The asking price for this property is $159,900.
What are key features of this property?
This property features: Fully occupied duplex with a 3‑bedroom unit and a 2‑bedroom unit; Upper unit leased at $995; lower unit is MTM at $1,150; Tenants are responsible for all utilities
