Bi-Level Duplex with Attached
For Sale
$379,900
1395 Inverness Lane, Neenah, WI 54956
Updated two-unit property with private garages, flexible lower-level rooms, laundry areas, and current occupancy.
Property Size2,352 SF
Price / SF$161.52
Days on Market131
Property Features for 1395 Inverness Lane
General Information
Standard status
Active
Size
2,352 SF
Property subtype
Multifamily / Duplex (2 Unit)
Zoning
2 Family/Duplex
Taxes and HOA fees
Annual Taxes
$3,650
Amenities
Forced Air
1
Natural Gas
2
Full,Full Sz Windows Min 20x24,Partial Fin. Contiguous
Poured Concrete
2 side by side,2 Story,Multi-Level
Vinyl Siding
Level Drive,Level Lot,Low Pile Carpeting
Building Details
Year Built
1984
Buildings
1
Listing Agency:
Smart Real Estate Group
(920) 585-2656
Listed By:
Aaron K Sensenig · License #94-90958
(920) 585-2656
Source:
Compass
Added: Apr 22
Changed: Aug 29
Last Checked: Aug 29 at 9:59PM
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 Smart Real Estate Group
Investment Insights
Based on property information with market context.
This 2,352-square-foot duplex, built in 1984, is arranged as two bi-level residences with both units currently rented. Each side includes two bedrooms, one full bath, one half bath, an open main-level living area, and an upper deck adjoining the kitchen. Full-window lower-level bonus rooms provide additional flexible space, while dedicated laundry areas and storage support everyday use. Recent updates contribute to the property's current condition.
Each residence has a separate attached two-car garage, and the property sits on a corner lot with a spacious yard and storage shed. The duplex is zoned 2 Family/Duplex and is located close to schools and parks. Both units feature natural-gas forced-air heating and have separate garage access.
Each residence has a separate attached two-car garage, and the property sits on a corner lot with a spacious yard and storage shed. The duplex is zoned 2 Family/Duplex and is located close to schools and parks. Both units feature natural-gas forced-air heating and have separate garage access.
Key Highlights
- 2,352 SF duplex with two bi‑level units, built in 1984
- Each unit offers 2 bedrooms, 1 full bath, and 1 half bath
- Separate attached 2‑car garages serve each unit
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
$15,870
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
4.18%
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%
$317,400
$317.4K
Cap Rate 7%
$226,714
$226.7K
Cap Rate 9%
$176,333
$176.3K
Market Conditions
NOI Build-Up for 2,352 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
$24.0K $10.20/SF
− Vacancy
−$1.3K −$0.56/SF
EGI
$22.7K $9.64/SF
− OpEx
−$6.8K −$2.89/SF
NOI
$15.9K $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%
$317,400
Cap Rate 7%
$226,714
Cap Rate 9%
$176,333
Alternative Uses
Best Use
Multifamily LT 5
$226.7K
$198.4K – $264.5K
NOI $15,870 @ 7.0% cap · market cap 4.18%
Second Best
Apartment 5plus
$204.4K
$178.8K – $238.4K
NOI $14,305 @ 7.0% cap · market cap 3.77%
Theoretical Best
Office A
$507.6K
$444.2K – $592.3K
NOI $35,535 @ 7.0% cap · market cap 9.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
99
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 - Updated two-unit property with private garages, flexible lower-level rooms, laundry areas, and current occupancy.
Where is this duplex located?
The property is located at 1395 Inverness Lane Neenah, WI.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: 2,352 SF duplex with two bi‑level units, built in 1984; Each unit offers 2 bedrooms, 1 full bath, and 1 half bath; Separate attached 2‑car garages serve each unit
