Updated Duplex with
New
For Sale
$239,000
120 E Pacific St, Appleton, WI 54911
Upper and lower units feature separate access and distinct laundry arrangements.
Property Size2,240 SF
Price / SF$106.70
Days on Market3
Property Features for 120 E Pacific St
General Information
Standard status
Active
Size
2,240 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Keller Williams Green Bay
(920) 209-5887
Listed By:
Curtis J. Stark · License #94-78269
Source:
Smartteamhomes
Added: Aug 7
Changed: Aug 8
Last Checked: Aug 9 at 9:54AM
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 Green Bay
Investment Insights
Based on property information with market context.
Built in 1900, this 2,240-square-foot duplex includes upper and lower residences with a shared vestibule and two access points serving both units. The main-level residence has high ceilings, hardwood floors, a four-seasons room, and laundry in the basement. The upper unit includes an open layout, in-unit laundry, and a washer and dryer. Recent improvements include new cabinets and countertops upstairs, fresh paint throughout both residences, and a roof dated '21 by the previous seller.
A garage on the property provides additional storage space for tenants or ownership. The duplex is within walking distance of Downtown Appleton and offers a configuration that supports rental use or potential owner occupancy.
A garage on the property provides additional storage space for tenants or ownership. The duplex is within walking distance of Downtown Appleton and offers a configuration that supports rental use or potential owner occupancy.
Key Highlights
- 2,240 SF duplex with upper and lower residential units
- Main‑level unit includes hardwood floors, four‑seasons room, and basement laundry
- Upper unit has an open floor plan and laundry with washer and dryer included
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
$17,071
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
7.14%
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%
$341,420
$341.4K
Cap Rate 7%
$243,871
$243.9K
Cap Rate 9%
$189,678
$189.7K
Market Conditions
NOI Build-Up for 2,240 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
$25.5K $11.40/SF
− Vacancy
−$1.1K −$0.51/SF
EGI
$24.4K $10.89/SF
− OpEx
−$7.3K −$3.27/SF
NOI
$17.1K $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%
$341,420
Cap Rate 7%
$243,871
Cap Rate 9%
$189,678
Alternative Uses
Best Use
Multifamily LT 5
$243.9K
$213.4K – $284.5K
NOI $17,071 @ 7.0% cap · market cap 7.14%
Second Best
Apartment 5plus
$228.3K
$199.7K – $266.3K
NOI $15,979 @ 7.0% cap · market cap 6.69%
Theoretical Best
Office A
$617.6K
$540.4K – $720.5K
NOI $43,232 @ 7.0% cap · market cap 18.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,251
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
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Frequently Asked Questions
What type of property is this?
Duplex - Upper and lower units feature separate access and distinct laundry arrangements.
Where is this duplex located?
The property is located at 120 E Pacific St Appleton, WI.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: 2,240 SF duplex with upper and lower residential units; Main‑level unit includes hardwood floors, four‑seasons room, and basement laundry; Upper unit has an open floor plan and laundry with washer and dryer included
