Two-Family Duplex with
For Sale
$190,000
1222/1224 Georgia Ave, Sheboygan, WI 53081
Two-unit residential property with separate bedroom layouts, a yard, garage, and off-street parking.
Property Size1,677 SF
Price / SF$113.30
Days on Market21
Property Features for 1222/1224 Georgia Ave
General Information
Standard status
Active
Size
1,677 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,088
Listing Agency:
Realty of America LLC
(920) 207-4935
Listed By:
Becky Fellows
(920) 207-4935
Source:
Exprealty
Added: Aug 12
Changed: Aug 31
Last Checked: Aug 31 at 5:54PM
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 Realty of America LLC
Investment Insights
Based on property information with market context.
This two-family property at 1222/1224 Georgia Ave includes two distinct residential units. The lower unit has three bedrooms and one full bathroom, while the upper unit provides two bedrooms and one full bathroom. The layout supports separate occupancy within a single duplex property.
Exterior features include a spacious yard, a garage, and off-street parking. The property also has an established rental history and is located in Sheboygan, Wisconsin.
Exterior features include a spacious yard, a garage, and off-street parking. The property also has an established rental history and is located in Sheboygan, Wisconsin.
Key Highlights
- Two‑family duplex with separate lower and upper units
- Lower unit includes 3 bedrooms and 1 full bath
- Upper unit includes 2 bedrooms and 1 full bath
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
$14,126
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
7.43%
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%
$282,520
$282.5K
Cap Rate 7%
$201,800
$201.8K
Cap Rate 9%
$156,956
$157.0K
Market Conditions
NOI Build-Up for 1,677 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
$21.1K $12.60/SF
− Vacancy
−$951 −$0.57/SF
EGI
$20.2K $12.03/SF
− OpEx
−$6.1K −$3.61/SF
NOI
$14.1K $8.42/SF
Area
Sheboygan County, WI
Vacancy
4.50%
Lease Rate
$12.60 /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%
$282,520
Cap Rate 7%
$201,800
Cap Rate 9%
$156,956
Alternative Uses
Best Use
Multifamily LT 5
$201.8K
$176.6K – $235.4K
NOI $14,126 @ 7.0% cap · market cap 7.43%
Second Best
Apartment 5plus
$187.7K
$164.2K – $219.0K
NOI $13,137 @ 7.0% cap · market cap 6.91%
Theoretical Best
Office A
$365.5K
$319.8K – $426.4K
NOI $25,584 @ 7.0% cap · market cap 13.47%
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
621
Businesses Nearby
Explore this area
Business Placement
Demographics for 53081, WI
43,465
Population
20,121
Households
2.2
Avg Household Size
38
Median Age
22%
College-Educated
90%
High-School Grad
23.3 sq mi
ZIP Area
1,865
Density / Sq Mi
$62,401
Median Household Income
$42,329
Median Earnings
$866
Median Rent
$169,700
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-unit residential property with separate bedroom layouts, a yard, garage, and off-street parking.
Where is this duplex located?
The property is located at 1222/1224 Georgia Ave Sheboygan, WI.
What is the asking price?
The asking price for this property is $190,000.
What are key features of this property?
This property features: Two‑family duplex with separate lower and upper units; Lower unit includes 3 bedrooms and 1 full bath; Upper unit includes 2 bedrooms and 1 full bath
