Updated Two-Unit
For Sale
$239,900
1235 Chicago Street, Green Bay, WI 54301
Separate utility metering places responsibility for all services other than water with the tenants.
Property Size1,824 SF
Price / SF$131.52
Days on Market128
Property Features for 1235 Chicago Street
General Information
Standard status
Active
Size
1,824 SF
Property subtype
Multifamily / Duplex (2 Unit)
Zoning
Residential
Additional Details
Multifamily Units
2
Amenities
Forced Air
2
Natural Gas
Full
Poured Concrete
2 Story,2 Up and Down
Vinyl Siding
1st Floor Bedroom,1st Floor Full Bath
Building Details
Year Built
1925
Buildings
1
Listing Agency:
Century 21 In Good Company
(920) 562-1812
Listed By:
Levi D Foss · License #90-59671
(920) 562-1812
Source:
Compass
Added: Apr 27
Changed: Aug 30
Last Checked: Aug 30 at 1:48PM
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 Century 21 In Good Company
Investment Insights
Based on property information with market context.
This two-story duplex contains 1,824 square feet with one two-bedroom apartment above another two-bedroom apartment. The property includes forced-air heating, central air, natural gas service, first-floor bedroom and full-bath features, and vinyl siding. A 2.5-stall garage provides additional on-site parking and storage.
Located at 1235 Chicago Street in Green Bay, Wisconsin, the property carries Residential zoning and was constructed in 1925. Utility meters are separated between the apartments; tenants pay the utility costs other than water. Reported updates include furnaces and central air in '25, water heaters in '25, a 2.5-stall garage in '25, and electrical work in '25.
Located at 1235 Chicago Street in Green Bay, Wisconsin, the property carries Residential zoning and was constructed in 1925. Utility meters are separated between the apartments; tenants pay the utility costs other than water. Reported updates include furnaces and central air in '25, water heaters in '25, a 2.5-stall garage in '25, and electrical work in '25.
Key Highlights
- 1,824 SF duplex with two 2‑bedroom apartments
- Two‑story layout with one apartment above the other
- Separate utility meters; tenants pay all utilities except water
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
$15,927
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
6.64%
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%
$318,540
$318.5K
Cap Rate 7%
$227,529
$227.5K
Cap Rate 9%
$176,967
$177.0K
Market Conditions
NOI Build-Up for 1,824 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
$24.1K $13.20/SF
− Vacancy
−$1.3K −$0.73/SF
EGI
$22.8K $12.47/SF
− OpEx
−$6.8K −$3.74/SF
NOI
$15.9K $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%
$318,540
Cap Rate 7%
$227,529
Cap Rate 9%
$176,967
Alternative Uses
Best Use
Multifamily LT 5
$227.5K
$199.1K – $265.5K
NOI $15,927 @ 7.0% cap · market cap 6.64%
Second Best
Apartment 5plus
$211.9K
$185.5K – $247.3K
NOI $14,836 @ 7.0% cap · market cap 6.18%
Theoretical Best
Office A
$425.3K
$372.1K – $496.1K
NOI $29,768 @ 7.0% cap · market cap 12.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,568
Businesses Nearby
Explore this area
Business Placement
Demographics for 54301, WI
22,875
Population
10,532
Households
2.2
Avg Household Size
39
Median Age
38%
College-Educated
94%
High-School Grad
6.5 sq mi
ZIP Area
3,519
Density / Sq Mi
$76,768
Median Household Income
$45,717
Median Earnings
$929
Median Rent
$205,900
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 - Separate utility metering places responsibility for all services other than water with the tenants.
Where is this duplex located?
The property is located at 1235 Chicago Street Green Bay, WI.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: 1,824 SF duplex with two 2‑bedroom apartments; Two‑story layout with one apartment above the other; Separate utility meters; tenants pay all utilities except water
