Side-by-Side Duplex with
For Sale
$294,900
1269 Primrose Lane, Neenah, WI 54956
Single-level duplex with separate garage stalls, driveway parking, included appliances, and a finished-use basement improvement.
Property Size1,840 SF
Price / SF$160.27
Days on Market182
Property Features for 1269 Primrose Lane
General Information
Standard status
Active
Size
1,840 SF
Property subtype
Multifamily / Duplex (2 Unit)
Zoning
2 Family/Duplex
Taxes and HOA fees
Annual Taxes
$4,837
Amenities
2
Natural Gas
Full
Poured Concrete
1 Story,2 side by side
Vinyl Siding
1st Floor Bedroom,1st Floor Full Bath
Building Details
Year Built
1969
Buildings
1
Listing Agency:
Coldwell Banker Real Estate Group
Listed By:
Melissa Trepanier · License #94-76810
(920) 712-4089
Source:
Compass
Added: Mar 4
Changed: Aug 31
Last Checked: Aug 29 at 9:15PM
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 Coldwell Banker Real Estate Group
Investment Insights
Based on property information with market context.
This 1,840-square-foot duplex contains two side-by-side units in a single-story configuration. Each unit has a single-stall garage and access to driveway parking, while appliances are included. The building has vinyl siding, poured-concrete construction, first-floor bedrooms, and first-floor full baths.
A full basement was excavated, sealed, and insulated in 2016. Additional improvements include siding, windows, gutters, and soffits completed within the last 10 years. The property is zoned 2 Family/Duplex and was built in 1969.
A full basement was excavated, sealed, and insulated in 2016. Additional improvements include siding, windows, gutters, and soffits completed within the last 10 years. The property is zoned 2 Family/Duplex and was built in 1969.
Key Highlights
- 1,840‑square‑foot duplex with two side‑by‑side units
- Single‑stall garage for each tenant plus driveway parking
- Full basement excavated, sealed, and insulated in 2016
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
$12,415
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
4.21%
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%
$248,300
$248.3K
Cap Rate 7%
$177,357
$177.4K
Cap Rate 9%
$137,944
$137.9K
Market Conditions
NOI Build-Up for 1,840 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
$18.8K $10.20/SF
− Vacancy
−$1.0K −$0.56/SF
EGI
$17.7K $9.64/SF
− OpEx
−$5.3K −$2.89/SF
NOI
$12.4K $6.75/SF
Area
Winnebago County, WI
Vacancy
5.50%
Lease Rate
$10.20 /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%
$248,300
Cap Rate 7%
$177,357
Cap Rate 9%
$137,944
Alternative Uses
Best Use
Multifamily LT 5
$177.4K
$155.2K – $206.9K
NOI $12,415 @ 7.0% cap · market cap 4.21%
Second Best
Apartment 5plus
$159.9K
$139.9K – $186.5K
NOI $11,191 @ 7.0% cap · market cap 3.79%
Theoretical Best
Office A
$397.1K
$347.5K – $463.3K
NOI $27,800 @ 7.0% cap · market cap 9.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
168
Businesses Nearby
Explore this area
Business Placement
Demographics for 54956, WI
46,316
Population
20,104
Households
2.3
Avg Household Size
40
Median Age
38%
College-Educated
96%
High-School Grad
61.7 sq mi
ZIP Area
751
Density / Sq Mi
$81,386
Median Household Income
$49,445
Median Earnings
$1,005
Median Rent
$238,200
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 - Single-level duplex with separate garage stalls, driveway parking, included appliances, and a finished-use basement improvement.
Where is this duplex located?
The property is located at 1269 Primrose Lane Neenah, WI.
What is the asking price?
The asking price for this property is $294,900.
What are key features of this property?
This property features: 1,840‑square‑foot duplex with two side‑by‑side units; Single‑stall garage for each tenant plus driveway parking; Full basement excavated, sealed, and insulated in 2016
