Triplex with Three-Stall
For Sale
$465,000
1409 ELIZA Street, Green Bay, WI 54301
Front duplex and rear home create a flexible residential income layout.
Property Size3,320 SF
Price / SF$140.06
Days on Market11
Property Features for 1409 ELIZA Street
General Information
Standard status
Active
Size
3,320 SF
Total Parking Spaces
3
Property subtype
Multi Family
Units
Unit Mix
2 x 2BR/1BA, 1 x 2BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$4,843
Building Details
Building Size
3,320 SF
Year Built
1966
Buildings
2
Listing Agency:
Northland Realty LLC
Listed By:
Mandy J. Baier · License #91-905211
(920) 680-7567
Source:
C21ace
Added: Sep 17
Changed: Sep 19
Last Checked: Sep 26 at 11:26AM
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 Northland Realty LLC
Investment Insights
Based on property information with market context.
This 3,320-square-foot triplex, built in 1966, combines an upper/lower duplex at the front with a separate home at the rear. Each duplex apartment includes 2 bedrooms, 1 bathroom, and formal dining space. The rear residence also offers 2 bedrooms and 1 bathroom, along with a full basement. A 3-stall garage sits between the two buildings, providing shared on-site parking and storage.
Major system updates include replacement boilers in 2017 and new electrical service installed in 2016. Tenants are responsible for their own gas and electric utilities. The property is located at 1409 Eliza St in Green Bay, Wisconsin.
Major system updates include replacement boilers in 2017 and new electrical service installed in 2016. Tenants are responsible for their own gas and electric utilities. The property is located at 1409 Eliza St in Green Bay, Wisconsin.
Key Highlights
- Three residential units on one parcel
- 3,320 square feet; built in 1966
- Front upper/lower duplex with 2 bedrooms and 1 bathroom per 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
$28,990
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
6.23%
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%
$579,800
$579.8K
Cap Rate 7%
$414,143
$414.1K
Cap Rate 9%
$322,111
$322.1K
Market Conditions
NOI Build-Up for 3,320 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
$43.8K $13.20/SF
− Vacancy
−$2.4K −$0.73/SF
EGI
$41.4K $12.47/SF
− OpEx
−$12.4K −$3.74/SF
NOI
$29.0K $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%
$579,800
Cap Rate 7%
$414,143
Cap Rate 9%
$322,111
Alternative Uses
Best Use
Multifamily LT 5
$414.1K
$362.4K – $483.2K
NOI $28,990 @ 7.0% cap · market cap 6.23%
Second Best
Apartment 5plus
$385.8K
$337.6K – $450.1K
NOI $27,004 @ 7.0% cap · market cap 5.81%
Theoretical Best
Office A
$774.0K
$677.3K – $903.0K
NOI $54,182 @ 7.0% cap · market cap 11.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,204
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
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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?
Triplex - Front duplex and rear home create a flexible residential income layout.
Where is this triplex located?
The property is located at 1409 ELIZA Street Green Bay, WI.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Three residential units on one parcel; 3,320 square feet; built in 1966; Front upper/lower duplex with 2 bedrooms and 1 bathroom per unit
