Updated Side-by-Side
For Sale
$299,900
1159 Minahan Street, Green Bay, WI 54303
Two-story residential income property with two two-bedroom units and improvements to kitchens, baths, flooring, windows, roof, and siding.
Property Size1,920 SF
Price / SF$156.20
Days on Market141
Property Features for 1159 Minahan Street
General Information
Standard status
Active
Size
1,920 SF
Property subtype
Multifamily / Duplex (2 Unit)
Zoning
Residential
Taxes and HOA fees
Annual Taxes
$3,265
Amenities
Forced Air
2
Natural Gas
Full
Block
2 side by side,2 Story
Vinyl Siding
Not Applicable
Building Details
Year Built
1961
Buildings
1
Listing Agency:
Modern Classic Realty
Listed By:
Carrie A Nowak · License #94-85928
(920) 606-2850
Source:
Compass
Added: Apr 15
Changed: Sep 2
Last Checked: Aug 30 at 3:18PM
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 Modern Classic Realty
Investment Insights
Based on property information with market context.
This 1,920-square-foot duplex contains two side-by-side units, each with two bedrooms and one full bathroom. The two-story property has received updates to both kitchens and bathrooms, along with improvements to the roof, siding, flooring, and windows. Forced-air heating, natural gas service, vinyl siding, and a block foundation are also included. Built in 1961, the property is zoned Residential and offers a configuration suited to rental ownership or an owner-occupant arrangement.
Key Highlights
- Two side‑by‑side units, each with 2 bedrooms and 1 full bath
- 1,920 SF duplex built in 1961
- Updated kitchens and bathrooms in 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
$16,765
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
5.59%
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%
$335,300
$335.3K
Cap Rate 7%
$239,500
$239.5K
Cap Rate 9%
$186,278
$186.3K
Market Conditions
NOI Build-Up for 1,920 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
$25.3K $13.20/SF
− Vacancy
−$1.4K −$0.73/SF
EGI
$24.0K $12.47/SF
− OpEx
−$7.2K −$3.74/SF
NOI
$16.8K $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%
$335,300
Cap Rate 7%
$239,500
Cap Rate 9%
$186,278
Alternative Uses
Best Use
Multifamily LT 5
$239.5K
$209.6K – $279.4K
NOI $16,765 @ 7.0% cap · market cap 5.59%
Second Best
Apartment 5plus
$223.1K
$195.2K – $260.3K
NOI $15,617 @ 7.0% cap · market cap 5.21%
Theoretical Best
Office A
$447.6K
$391.7K – $522.2K
NOI $31,334 @ 7.0% cap · market cap 10.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
192
Businesses Nearby
Explore this area
Business Placement
Demographics for 54303, WI
27,478
Population
13,088
Households
2.1
Avg Household Size
36
Median Age
18%
College-Educated
91%
High-School Grad
11.5 sq mi
ZIP Area
2,389
Density / Sq Mi
$58,110
Median Household Income
$38,983
Median Earnings
$859
Median Rent
$160,100
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 - Two-story residential income property with two two-bedroom units and improvements to kitchens, baths, flooring, windows, roof, and siding.
Where is this duplex located?
The property is located at 1159 Minahan Street Green Bay, WI.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two side‑by‑side units, each with 2 bedrooms and 1 full bath; 1,920 SF duplex built in 1961; Updated kitchens and bathrooms in both units
