Building Details

Stories 2

Units 2

Tenancy Multi

Listing Agency: Redman Realty Group, LLC A***@RedmanRealtyGroup.com Show Phone

Listed By: Adam Redman · License #WI

Source: Crexi

Added: Jun 20 Changed: Aug 9 Last Checked: Aug 9 at 3:52PM

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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 Redman Realty Group, LLC

Investment Insights

Based on property information with market context.

This property is currently operated as a duplex with two mirrored bi-level rental units. Each unit includes 2 bedrooms and 2 full bathrooms, spacious living areas, and in-unit laundry. Separate entrances support independent access for residents, while recent updates and attractive finishes help maintain a ready-to-rent appearance.

Set on a level parcel, the property includes a mix of open lawn and wooded privacy. A detached 5-car garage provides additional parking and storage capacity beyond the main living areas. The home is described as conveniently located near major amenities, employment centers, lakes, and year-round recreational destinations in the Northwoods area.

For investors or operators, the duplex configuration offers flexibility as a rental housing setup for tenants who value separate entries and in-unit laundry. The detached garage adds practical utility for resident use and day-to-day operations, and the overall layout can also support workforce housing or employee accommodations where independent unit access is important. Tenant-paid utilities are noted as a cost-control feature, and the property’s condition and updates are intended to support straightforward management as-is or through future repositioning.

Key Highlights

• Currently operating as a duplex with two mirrored bi‑level rental units
• Each unit offers 2 bedrooms, 2 full baths, spacious living areas, and in‑unit laundry
• Separate entrances for both units

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

$19,297

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

5.15%

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%

$385,940 $385.9K

Cap Rate 7%

$275,671 $275.7K

Cap Rate 9%

$214,411 $214.4K

Market Conditions

NOI Build-Up for 3,312 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

$33.8K $10.20/SF

− Vacancy

−$6.2K −$1.88/SF

EGI

$27.6K $8.32/SF

− OpEx

−$8.3K −$2.50/SF

NOI

$19.3K $5.83/SF

Area

Oneida County, WI

Vacancy

18.40%

Lease Rate

$10.20 /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%

$385,940

Cap Rate 7%

$275,671

Cap Rate 9%

$214,411

Alternative Uses

Best Use

Multifamily LT 5

$275.7K

$241.2K – $321.6K (±1% cap)

NOI $19,297 @ 7.0% cap · market cap 5.15%

Second Best

Apartment 5plus

$259.2K

$226.8K – $302.4K (±1% cap)

NOI $18,143 @ 7.0% cap · market cap 4.84%

Theoretical Best

Industrial

$1.55M

$1.36M – $1.81M (±1% cap)

NOI $108,512 @ 7.0% cap · market cap 28.94%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Duplexes

Suggested Use

Top Pick HVAC Service Plumbing Service Storage Facility Auto Repair Shop Kitchen & Bath Showroom Veterinary Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

9

Businesses Nearby

Explore this area Business Placement

Demographics for 54568, WI

5,175

Population

3,855

Households

1.3

Avg Household Size

55

Median Age

36%

College-Educated

96%

High-School Grad

71.2 sq mi

ZIP Area

73

Density / Sq Mi

$71,944

Median Household Income

$45,337

Median Earnings

$791

Median Rent

$262,100

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Two bi-level rental units with separate entrances, in-unit laundry, and a detached 5-car garage for added storage.

Where is this duplex located?

The property is located at 11525 Harmony Ln Arbor Vitae, WI.

What is the asking price?

The asking price for this property is $375,000.

What are key features of this property?

This property features: Currently operating as a duplex with two mirrored bi‑level rental units; Each unit offers 2 bedrooms, 2 full baths, spacious living areas, and in‑unit laundry; Separate entrances for both units