Building Details

Year built 1996

Number of units 2

Building materials Vinyl Siding

Listing Agency: Keller Williams Green Bay · Keller Williams Realty a***@calebhayes.com Show Phone

Listed By: Shannon C. Malott · License #94-86748 Show Phone

Added: Sep 25 Changed: Sep 26 Last Checked: Sep 26 at 10:06AM

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MLS# 50333331

Copyright © 2026 Realtor Association of Northeast Wisconsin. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

Built in 1996, this vinyl-sided duplex contains two two-story residences totaling 2,800 square feet. Each 1,400-square-foot unit has three bedrooms and one full and one half bath. The main level includes a kitchen with a peninsula counter, dining area, large-windowed living room, and half bath; upstairs are three bedrooms and a full bath. Each home also has a patio, landscaped yard, and an attached two-stall garage. Lower-level space provides storage and laundry equipment.

The property occupies 0.39 acres in a residential zoning district. Public water and sewer serve the site. Both units are occupied on month-to-month leases.

Key Highlights

• Two‑unit duplex with 2,800 square feet total; each residence is 1,400 square feet
• Each unit offers 3 bedrooms and 1.5 bathrooms
• Two‑story layout with full kitchen, dining area, living room, and lower‑level storage and laundry in each residence

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

$24,449

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

4.57%

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%

$488,980 $489.0K

Cap Rate 7%

$349,271 $349.3K

Cap Rate 9%

$271,656 $271.7K

Market Conditions

NOI Build-Up for 2,800 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

$37.0K $13.20/SF

− Vacancy

−$2.0K −$0.73/SF

EGI

$34.9K $12.47/SF

− OpEx

−$10.5K −$3.74/SF

NOI

$24.4K $8.73/SF

Area

Kewaunee County, 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%

$488,980

Cap Rate 7%

$349,271

Cap Rate 9%

$271,656

Alternative Uses

Best Use

Multifamily LT 5

$349.3K

$305.6K – $407.5K (±1% cap)

NOI $24,449 @ 7.0% cap · market cap 4.57%

Second Best

Apartment 5plus

$325.4K

$284.7K – $379.6K (±1% cap)

NOI $22,775 @ 7.0% cap · market cap 4.26%

Theoretical Best

Office A

$652.8K

$571.2K – $761.6K (±1% cap)

NOI $45,696 @ 7.0% cap · market cap 8.54%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Law Firm Building Supply Hair Salon Restaurant Auto Repair Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

47

Businesses Nearby

Explore this area Business Placement

Demographics for 54217, WI

7,713

Population

3,265

Households

2.4

Avg Household Size

42

Median Age

26%

College-Educated

95%

High-School Grad

112.0 sq mi

ZIP Area

69

Density / Sq Mi

$85,893

Median Household Income

$46,822

Median Earnings

$956

Median Rent

$255,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Two-story residences pair private outdoor areas with attached garages and full kitchens.

Where is this duplex located?

The property is located at 1607 ALFRED Drive Luxemburg, WI.

What is the asking price?

The asking price for this property is $534,900.

What are key features of this property?

This property features: Two‑unit duplex with 2,800 square feet total; each residence is 1,400 square feet; Each unit offers 3 bedrooms and 1.5 bathrooms; Two‑story layout with full kitchen, dining area, living room, and lower‑level storage and laundry in each residence