Duplex with Private Fenced
For Sale
$385,000
1212 Sixth St, Algoma, WI 54201
Upper unit has a separate entrance and includes 2BR and 1BA, while the main floor offers 3BR and 1BA.
Property Size2,252 SF
Price / SF$170.96
Days on Market42
Property Features for 1212 Sixth St
General Information
Standard status
Active
Size
2,252 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Amenities
fenced yard
deck
gardens
Building Details
Year Built
1940
Buildings
1
Tenancy
Multi
Listing Agency:
Mahler Sotheby's International Realty
Listed By:
Kathleen Davis
(414) 962-4413
Source:
Nikolicgroup
Added: Jul 29
Changed: Sep 8
Last Checked: Sep 7 at 3:11PM
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 Mahler Sotheby's International Realty
Investment Insights
Based on property information with market context.
This well-cared-for duplex at 1212 Sixth Street in Algoma offers flexible use for an owner-occupant or investor. The main floor features 3BR/1BA with its own layout, and the separate entrance upper unit includes 2BR/1BA, along with a full kitchen and a living area. A fenced yard with deck and gardens provides an outdoor space for everyday use.
The property is located in Algoma’s artist community area, about one block from Lake Michigan. The beach is described as spanning nearly a mile, offering a short stroll for coastal recreation. Garage parking is included for 4 cars, supporting convenient off-street storage and use.
Whether you plan to live in one unit and rent the other or operate as a duplex investment, the configuration and outdoor amenities create practical, day-to-day livability.
The property is located in Algoma’s artist community area, about one block from Lake Michigan. The beach is described as spanning nearly a mile, offering a short stroll for coastal recreation. Garage parking is included for 4 cars, supporting convenient off-street storage and use.
Whether you plan to live in one unit and rent the other or operate as a duplex investment, the configuration and outdoor amenities create practical, day-to-day livability.
Key Highlights
- Main floor layout: 3BR/1BA duplex unit
- Upper unit has a separate entrance and includes 2BR/1BA plus full kitchen and living area
- Fenced yard with expansive deck and gardens
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
$19,664
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
5.11%
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%
$393,280
$393.3K
Cap Rate 7%
$280,914
$280.9K
Cap Rate 9%
$218,489
$218.5K
Market Conditions
NOI Build-Up for 2,252 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
$29.7K $13.20/SF
− Vacancy
−$1.6K −$0.73/SF
EGI
$28.1K $12.47/SF
− OpEx
−$8.4K −$3.74/SF
NOI
$19.7K $8.73/SF
Area
Kewaunee County, 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%
$393,280
Cap Rate 7%
$280,914
Cap Rate 9%
$218,489
Alternative Uses
Best Use
Multifamily LT 5
$280.9K
$245.8K – $327.7K
NOI $19,664 @ 7.0% cap · market cap 5.11%
Second Best
Apartment 5plus
$261.7K
$229.0K – $305.3K
NOI $18,317 @ 7.0% cap · market cap 4.76%
Theoretical Best
Office A
$525.0K
$459.4K – $612.6K
NOI $36,753 @ 7.0% cap · market cap 9.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
344
Businesses Nearby
Explore this area
Business Placement
Demographics for 54201, WI
5,281
Population
2,603
Households
2
Avg Household Size
48
Median Age
19%
College-Educated
92%
High-School Grad
75.5 sq mi
ZIP Area
70
Density / Sq Mi
$65,772
Median Household Income
$39,787
Median Earnings
$823
Median Rent
$174,800
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 unit has a separate entrance and includes 2BR and 1BA, while the main floor offers 3BR and 1BA.
Where is this duplex located?
The property is located at 1212 Sixth St Algoma, WI.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Main floor layout: 3BR/1BA duplex unit; Upper unit has a separate entrance and includes 2BR/1BA plus full kitchen and living area; Fenced yard with expansive deck and gardens
