Remodeled Duplex with
For Sale
$234,900
1503 N 6th St, Sheboygan, WI 53081
Two-unit property with separate electrical, laundry connections, and off-street parking.
Property Size2,409 SF
Price / SF$97.51
Days on Market82
Property Features for 1503 N 6th St
General Information
Standard status
Active
Size
2,409 SF
Property subtype
Residential Income
Property Condition
Severity
Repairs Needed
Evidence
Lower unit needs a facelift (paint & flooring)
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,344
Amenities
in-unit laundry
laundry hookups
Listing Agency:
RE/MAX Universal
(920) 698-0661
Listed By:
Buchmann Team* · License #5185194
(920) 698-0661
Source:
Exprealty
Added: Jun 2
Changed: Aug 21
Last Checked: Aug 21 at 11:34AM
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 RE/MAX Universal
Investment Insights
Based on property information with market context.
This duplex contains 2,409 square feet across two residential units. The upper unit has been remodeled, while the lower unit requires paint and flooring updates. The lower unit includes in-unit laundry, and the basement provides two additional laundry hookups. One boiler serves both units, with separate electrical service for each unit.
A 2.5-car garage and additional parking are included. The roof was replaced in 2021. The front porch requires repair or replacement.
A 2.5-car garage and additional parking are included. The roof was replaced in 2021. The front porch requires repair or replacement.
Key Highlights
- 2,409 SF duplex with two residential units
- Upper unit has been completely remodeled
- Lower unit includes in‑unit laundry; basement has 2 additional hookups
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
$20,291
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
8.64%
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%
$405,820
$405.8K
Cap Rate 7%
$289,871
$289.9K
Cap Rate 9%
$225,456
$225.5K
Market Conditions
NOI Build-Up for 2,409 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
$30.4K $12.60/SF
− Vacancy
−$1.4K −$0.57/SF
EGI
$29.0K $12.03/SF
− OpEx
−$8.7K −$3.61/SF
NOI
$20.3K $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%
$405,820
Cap Rate 7%
$289,871
Cap Rate 9%
$225,456
Alternative Uses
Best Use
Multifamily LT 5
$289.9K
$253.6K – $338.2K
NOI $20,291 @ 7.0% cap · market cap 8.64%
Second Best
Apartment 5plus
$269.6K
$235.9K – $314.5K
NOI $18,872 @ 7.0% cap · market cap 8.03%
Theoretical Best
Office A
$525.0K
$459.4K – $612.5K
NOI $36,751 @ 7.0% cap · market cap 15.65%
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
714
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with separate electrical, laundry connections, and off-street parking.
Where is this duplex located?
The property is located at 1503 N 6th St Sheboygan, WI.
What is the asking price?
The asking price for this property is $234,900.
What are key features of this property?
This property features: 2,409 SF duplex with two residential units; Upper unit has been completely remodeled; Lower unit includes in‑unit laundry; basement has 2 additional hookups
