Updated Duplex with
New
For Sale
$265,000
1622 Georgia Ave, Sheboygan, WI 53081
Two-unit property with refreshed interiors, basement laundry, and a partially fenced yard.
Property Size1,794 SF
Price / SF$147.71
Days on Market5
Property Features for 1622 Georgia Ave
General Information
Standard status
Active
Size
1,794 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
laundry in basement
partially fenced yard
Building Details
Year Built
1905
Buildings
1
Tenancy
Single
Listing Agency:
Coldwell Banker Realty
Listed By:
Avenue Real Estate
(920) 893-3001
Source:
Avenueret
Added: Sep 14
Changed: Sep 17
Last Checked: Sep 18 at 7:23AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This two-family residence offers 1,794 square feet across two units, including a lower apartment with two bedrooms and one bathroom. Recent improvements include new carpeting, interior paint, lower cabinetry in the lower unit, and updated lighting. The upper unit is currently occupied and includes access to the two-car garage and basement laundry area.
Built in 1905, the property retains original character while providing a clean basement, a spacious yard, and partial fencing. The existing layout supports both owner occupancy and continued residential income use.
Built in 1905, the property retains original character while providing a clean basement, a spacious yard, and partial fencing. The existing layout supports both owner occupancy and continued residential income use.
Key Highlights
- Two‑family duplex with 1,794 square feet
- Lower unit includes 2 bedrooms and 1 bathroom
- Upper unit is currently 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
$15,111
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
5.70%
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%
$302,220
$302.2K
Cap Rate 7%
$215,871
$215.9K
Cap Rate 9%
$167,900
$167.9K
Market Conditions
NOI Build-Up for 1,794 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
$22.6K $12.60/SF
− Vacancy
−$1.0K −$0.57/SF
EGI
$21.6K $12.03/SF
− OpEx
−$6.5K −$3.61/SF
NOI
$15.1K $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%
$302,220
Cap Rate 7%
$215,871
Cap Rate 9%
$167,900
Alternative Uses
Best Use
Multifamily LT 5
$215.9K
$188.9K – $251.9K
NOI $15,111 @ 7.0% cap · market cap 5.70%
Second Best
Apartment 5plus
$200.8K
$175.7K – $234.2K
NOI $14,054 @ 7.0% cap · market cap 5.30%
Theoretical Best
Office A
$391.0K
$342.1K – $456.2K
NOI $27,369 @ 7.0% cap · market cap 10.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
479
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with refreshed interiors, basement laundry, and a partially fenced yard.
Where is this duplex located?
The property is located at 1622 Georgia Ave Sheboygan, WI.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Two‑family duplex with 1,794 square feet; Lower unit includes 2 bedrooms and 1 bathroom; Upper unit is currently occupied
