Remodeled
New
For Sale
$249,900
1228 S 17th St, Sheboygan, WI 53081
Two refreshed kitchens and an interior doorway between residences allow for a single-family arrangement.
Property Size1,841 SF
Price / SF$135.74
Days on Market4
Property Features for 1228 S 17th St
General Information
Standard status
Active
Size
1,841 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1910
Buildings
1
Listing Agency:
Pleasant View Realty, LLC
Listed By:
Heather Zimbal · License #11120694
(920) 912-1064
Source:
Nikolicgroup
Added: Sep 24
Last Checked: Sep 26 at 9:25AM
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 Pleasant View Realty, LLC
Investment Insights
Based on property information with market context.
This duplex has two residences with updated interiors and kitchens. The lower unit includes 2 bedrooms and 2 pantries; the upper unit has 2+ bedrooms. An interior door connects the units, allowing them to function as a single-family home with 4+ bedrooms. A two-car garage with a walk-up attic is also part of the property.
Built in 1910, the property sits on a double lot and has a reported property size of 1,841.
Built in 1910, the property sits on a double lot and has a reported property size of 1,841.
Key Highlights
- Two residences with remodeled kitchens and updated interiors
- Lower unit has 2 bedrooms and 2 pantries; upper unit has 2+ bedrooms
- Interior connection allows a single‑family layout with 4+ bedrooms
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
$15,507
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
6.21%
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%
$310,140
$310.1K
Cap Rate 7%
$221,529
$221.5K
Cap Rate 9%
$172,300
$172.3K
Market Conditions
NOI Build-Up for 1,841 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
$23.2K $12.60/SF
− Vacancy
−$1.0K −$0.57/SF
EGI
$22.2K $12.03/SF
− OpEx
−$6.6K −$3.61/SF
NOI
$15.5K $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%
$310,140
Cap Rate 7%
$221,529
Cap Rate 9%
$172,300
Alternative Uses
Best Use
Multifamily LT 5
$221.5K
$193.8K – $258.5K
NOI $15,507 @ 7.0% cap · market cap 6.21%
Second Best
Apartment 5plus
$206.0K
$180.3K – $240.4K
NOI $14,422 @ 7.0% cap · market cap 5.77%
Theoretical Best
Office A
$401.2K
$351.1K – $468.1K
NOI $28,086 @ 7.0% cap · market cap 11.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,048
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two refreshed kitchens and an interior doorway between residences allow for a single-family arrangement.
Where is this duplex located?
The property is located at 1228 S 17th St Sheboygan, WI.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Two residences with remodeled kitchens and updated interiors; Lower unit has 2 bedrooms and 2 pantries; upper unit has 2+ bedrooms; Interior connection allows a single‑family layout with 4+ bedrooms
