Two-Unit Duplex with
For Sale
$275,000
106 West Parkway Boulevard, Appleton, WI 54911
Two-bedroom residences feature hardwood floors, private entries, separate utilities, and shared laundry in a character-rich layout.
Property Size1,976 SF
Price / SF$139.17
Days on Market131
Property Features for 106 West Parkway Boulevard
General Information
Standard status
Active
Size
1,976 SF
Total Parking Spaces
2
Property subtype
Multifamily / Duplex (2 Unit)
Zoning
2 Family/Duplex,Resident
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$2,513
Amenities
shared laundry
Forced Air
1
2
Natural Gas
Full
Block
2 Story,2 Up and Down
Vinyl Siding
Level Lot
Building Details
Year Built
1946
Buildings
1
Listing Agency:
Keller Williams Fox Cities
(920) 222-1068
Listed By:
Amanda M Furman · License #94-84725
(920) 222-1068
Source:
Compass
Added: Apr 24
Changed: Aug 31
Last Checked: Aug 30 at 7:23AM
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 Keller Williams Fox Cities
Investment Insights
Based on property information with market context.
This 1,976-square-foot duplex, built in 1946, contains two residences with two bedrooms and one bathroom apiece. Both units feature hardwood flooring, oversized windows, arched doorways, and detailed molding. The lower apartment includes a walk-in pantry, while the upper apartment has a dedicated office and access to a walk-up attic. A dry basement provides additional utility space.
Each residence has its own entrance and separate utilities. Shared laundry serves the property, and the two-car garage provides one parking space for each unit. The building has forced-air heating, natural gas service, vinyl siding, and a level lot. The property is positioned between downtown Appleton and Erb Park and is zoned 2 Family/Duplex, Resident.
Each residence has its own entrance and separate utilities. Shared laundry serves the property, and the two-car garage provides one parking space for each unit. The building has forced-air heating, natural gas service, vinyl siding, and a level lot. The property is positioned between downtown Appleton and Erb Park and is zoned 2 Family/Duplex, Resident.
Key Highlights
- Two‑unit duplex with 1,976 SF of total property size
- Each residence includes 2 bedrooms and 1 bathroom
- Hardwood floors, oversized windows, arched doorways, and detailed molding
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
$15,059
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
5.48%
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%
$301,180
$301.2K
Cap Rate 7%
$215,129
$215.1K
Cap Rate 9%
$167,322
$167.3K
Market Conditions
NOI Build-Up for 1,976 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
$22.5K $11.40/SF
− Vacancy
−$1.0K −$0.51/SF
EGI
$21.5K $10.89/SF
− OpEx
−$6.5K −$3.27/SF
NOI
$15.1K $7.62/SF
Area
Outagamie County, WI
Vacancy
4.50%
Lease Rate
$11.40 /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%
$301,180
Cap Rate 7%
$215,129
Cap Rate 9%
$167,322
Alternative Uses
Best Use
Multifamily LT 5
$215.1K
$188.2K – $251.0K
NOI $15,059 @ 7.0% cap · market cap 5.48%
Second Best
Apartment 5plus
$201.4K
$176.2K – $234.9K
NOI $14,095 @ 7.0% cap · market cap 5.13%
Theoretical Best
Office A
$544.8K
$476.7K – $635.6K
NOI $38,137 @ 7.0% cap · market cap 13.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
728
Businesses Nearby
Explore this area
Business Placement
Demographics for 54911, WI
26,964
Population
11,171
Households
2.4
Avg Household Size
37
Median Age
35%
College-Educated
94%
High-School Grad
8.4 sq mi
ZIP Area
3,210
Density / Sq Mi
$66,747
Median Household Income
$38,591
Median Earnings
$1,010
Median Rent
$199,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom residences feature hardwood floors, private entries, separate utilities, and shared laundry in a character-rich layout.
Where is this duplex located?
The property is located at 106 West Parkway Boulevard Appleton, WI.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,976 SF of total property size; Each residence includes 2 bedrooms and 1 bathroom; Hardwood floors, oversized windows, arched doorways, and detailed molding
