Two-Unit Duplex with Detached
For Sale
$249,400
1426 North Meade Street, Appleton, WI 54911
Two-story residential income property with separate upper and lower units near schools, shopping, and downtown Appleton.
Property Size2,072 SF
Price / SF$120.37
Days on Market408
Property Features for 1426 North Meade Street
General Information
Standard status
Active
Size
2,072 SF
Total Parking Spaces
2
Property subtype
Multifamily / Duplex (2 Unit)
Zoning
2 Family/Duplex
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,391
Amenities
Forced Air
2
Natural Gas
1
Full
Stone
2 Story,2 Up and Down
Vinyl Siding
Not Applicable
Building Details
Year Built
1910
Buildings
1
Listing Agency:
Roots Real Estate LLC
(920) 279-7884
Listed By:
Jaimee A Radloff · License #90-59213
(920) 279-7884
Source:
Compass
Added: Jul 19, 2025
Changed: Aug 29
Last Checked: Aug 29 at 8:14PM
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 Roots Real Estate LLC
Investment Insights
Based on property information with market context.
This two-story Appleton duplex contains two residential units arranged as an upper and lower residence. The lower unit offers two bedrooms and one full bathroom, while the upper unit includes one bedroom and one full bathroom. The property also has forced-air heating, natural gas service, stone and vinyl exterior materials, and a detached two-car garage.
Built in 1910, the property is located at 1426 North Meade Street near schools, shopping, and downtown Appleton. Zoning is identified as 2 Family/Duplex, supporting the property's established two-unit configuration. The separate floor-by-floor layout provides a straightforward residential income property format.
Built in 1910, the property is located at 1426 North Meade Street near schools, shopping, and downtown Appleton. Zoning is identified as 2 Family/Duplex, supporting the property's established two-unit configuration. The separate floor-by-floor layout provides a straightforward residential income property format.
Key Highlights
- Two‑unit duplex with a 2 bed, 1 bath lower unit and a 1 bed, 1 bath upper unit
- Detached 2‑car garage
- 2 Story, 2 Up and Down layout
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
$15,791
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
6.33%
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%
$315,820
$315.8K
Cap Rate 7%
$225,586
$225.6K
Cap Rate 9%
$175,456
$175.5K
Market Conditions
NOI Build-Up for 2,072 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
$23.6K $11.40/SF
− Vacancy
−$1.1K −$0.51/SF
EGI
$22.6K $10.89/SF
− OpEx
−$6.8K −$3.27/SF
NOI
$15.8K $7.62/SF
Area
Outagamie County, WI
Vacancy
4.50%
Lease Rate
$11.40 /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%
$315,820
Cap Rate 7%
$225,586
Cap Rate 9%
$175,456
Alternative Uses
Best Use
Multifamily LT 5
$225.6K
$197.4K – $263.2K
NOI $15,791 @ 7.0% cap · market cap 6.33%
Second Best
Apartment 5plus
$211.1K
$184.8K – $246.3K
NOI $14,780 @ 7.0% cap · market cap 5.93%
Theoretical Best
Office A
$571.3K
$499.9K – $666.5K
NOI $39,990 @ 7.0% cap · market cap 16.03%
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
717
Businesses Nearby
Explore this area
Business Placement
Demographics for 54911, WI
26,964
Population
11,171
Households
2.4
Avg Household Size
37
Median Age
35%
College-Educated
94%
High-School Grad
8.4 sq mi
ZIP Area
3,210
Density / Sq Mi
$66,747
Median Household Income
$38,591
Median Earnings
$1,010
Median Rent
$199,100
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 - Two-story residential income property with separate upper and lower units near schools, shopping, and downtown Appleton.
Where is this duplex located?
The property is located at 1426 North Meade Street Appleton, WI.
What is the asking price?
The asking price for this property is $249,400.
What are key features of this property?
This property features: Two‑unit duplex with a 2 bed, 1 bath lower unit and a 1 bed, 1 bath upper unit; Detached 2‑car garage; 2 Story, 2 Up and Down layout
