Triplex with Attached
For Sale
$359,900
1500 N Appleton St, Appleton, WI 54911
Three-unit residential property with coin-operated laundry, off-street parking, and an attached garage.
Property Size3,035 SF
Price / SF$118.58
Days on Market9
Property Features for 1500 N Appleton St
General Information
Standard status
Active
Size
3,035 SF
Property subtype
Multi-Family
Building Details
Year Built
1900
Listing Agency:
Renard Realty
(920) 606-4436
Listed By:
Shane Renard - Principal Broker Owner · License #9057962
(920) 606-4436
Source:
Renardrealtygroup
Added: Aug 22
Changed: Aug 29
Last Checked: Aug 29 at 6:00PM
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 Renard Realty
Investment Insights
Based on property information with market context.
This triplex contains 3,035 square feet across three residential units: a lower-level 3-bedroom, 1-bath unit and two upper-level apartments consisting of 2 bedrooms and 1 bath, and 1 bedroom and 1 bath. The lower unit is vacant, while the two upper units are occupied with tenants responsible for all utilities.
Property features include coin-operated laundry, ample off-street parking, and a two-stall attached garage. Built in 1900, the property offers a defined three-unit configuration with varied apartment layouts and on-site parking and garage space.
Property features include coin-operated laundry, ample off-street parking, and a two-stall attached garage. Built in 1900, the property offers a defined three-unit configuration with varied apartment layouts and on-site parking and garage space.
Key Highlights
- Three‑unit configuration with 3,035 square feet
- Unit mix includes 3 bed/1 bath, 2 bed/1 bath, and 1 bed/1 bath apartments
- Lower unit is vacant; two upper units are occupied
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
$23,129
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
6.43%
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%
$462,580
$462.6K
Cap Rate 7%
$330,414
$330.4K
Cap Rate 9%
$256,989
$257.0K
Market Conditions
NOI Build-Up for 3,035 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
$34.6K $11.40/SF
− Vacancy
−$1.6K −$0.51/SF
EGI
$33.0K $10.89/SF
− OpEx
−$9.9K −$3.27/SF
NOI
$23.1K $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%
$462,580
Cap Rate 7%
$330,414
Cap Rate 9%
$256,989
Alternative Uses
Best Use
Multifamily LT 5
$330.4K
$289.1K – $385.5K
NOI $23,129 @ 7.0% cap · market cap 6.43%
Second Best
Apartment 5plus
$309.3K
$270.6K – $360.8K
NOI $21,650 @ 7.0% cap · market cap 6.02%
Theoretical Best
Office A
$836.8K
$732.2K – $976.3K
NOI $58,576 @ 7.0% cap · market cap 16.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
598
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?
Triplex - Three-unit residential property with coin-operated laundry, off-street parking, and an attached garage.
Where is this triplex located?
The property is located at 1500 N Appleton St Appleton, WI.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: Three‑unit configuration with 3,035 square feet; Unit mix includes 3 bed/1 bath, 2 bed/1 bath, and 1 bed/1 bath apartments; Lower unit is vacant; two upper units are occupied
