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    Well-Maintained Duplex with Garage Title is generated by Realmo AI

    2010 Lincoln Street, Two Rivers, WI 54241

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    For Sale
    $175,000

    Two separate units with recent cosmetic updates, offering rental income or an owner-occupant setup.

    Type:Multifamily / Two Family
    Property size:
    2,040 SF
    Price / SF:
    $85/SF
    Added:
    May 25, 2026
    Days on Market:
    14
    Last Refresh:
    Jun 6 at 5:00 am

    Property Features for 2010 Lincoln Street

    General Information

    Standard status
    Active
    Size
    2,040 SF
    Property subtype
    Multifamily / Two Family

    Building Details

    Year Built
    1910

    We can help!

    Listing Contact
    Bob C Olson
    Bob C Olson

    Listing agent Bob C Olson License #94-76949

    Listing office Red Key Real Estate, Inc.

    Listing date May 25, 2026

    Source Compass

    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 Red Key Real Estate, Inc.

    HighLights

    • Duplex built in 1910 with two separate units (upper: 3 bed/1 bath; lower: 2 bed/1 bath).
    • Cosmetic rehab completed approx. 2 years ago: updated LVP flooring and paint, newer vanities/fixtures/sinks in both units, plus plumbing updates.
    • Forced‑air heating with electric and natural gas; furnace is less than 10 years old and roof is approx. 15 years old.
    • Full basement with laundry area, full bathroom, and separate entrance; includes sump pump.
    • Exterior includes slate composite siding, maintenance‑free white rock front yard, and a large covered porch plus detached garage with vinyl siding.
    • 1st‑floor accessibility features include a bedroom and a full bath; basement also includes potential additional finishable rooms.

    Overview

    This well-maintained duplex includes two separate living units. The upper unit offers 3 bedrooms and 1 bathroom with electric heat. The lower unit provides 2 bedrooms and 1 bathroom. Both units were cosmetically rehabbed approximately two years ago with updated LVP flooring, fresh paint, newer vanities, fixtures, and sinks, along with plumbing updates.

    The exterior features slate composite siding, a maintenance-free white rock front yard, and a large covered porch. A detached garage with vinyl siding supports practical daily storage needs. The basement includes a laundry area, a full bathroom, and a separate entrance. Additional rooms in the basement could be finished to add living space, with the possibility of future rental flexibility.

    For tenants, the layout supports two distinct households under one roof. For buyers, the property can work for either an investor seeking existing rental income or an owner-occupant looking to offset housing costs. The furnace is less than 10 years old, and the roof is approximately 15 years old. Noted interior details include non-standard shorter bathtubs in both units.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Two Rivers
    County
    Manitowoc
    State
    Wisconsin
    Longitude
    -87.5594734
    Latitude
    44.1521128

    Nearby Similar for Sale

    • $595,000
      50,800 SF

      Multi-Level Retail Building in Two Rivers

      Substantial retail building in downtown Two Rivers, TIF eligible.
      1816 Washington St, Two Rivers, WI 54241
      View Details
    • $175,000
      2,040 SF

      Well-Maintained Duplex in Two Rivers

      Duplex with rental potential and value-add opportunity in Wisconsin.
      2010 LINCOLN Street, TWO RIVERS, WI 54241-0000
      View Details

    FAQs

    What type of property is this?
    Duplex - Two separate units with recent cosmetic updates, offering rental income or an owner-occupant setup.
    Where is this duplex located?
    The property is located at 2010 Lincoln Street Two Rivers, WI.
    What is the asking price?
    The asking price for this property is $175,000.
    What are key features of this property?
    This property features: Duplex built in 1910 with two separate units (upper: 3 bed/1 bath; lower: 2 bed/1 bath).; Cosmetic rehab completed approx. 2 years ago: updated LVP flooring and paint, newer vanities/fixtures/sinks in both units, plus plumbing updates.; Forced‑air heating with electric and natural gas; furnace is less than 10 years old and roof is approx. 15 years old.
    (920) 606-7448
    We can help!
    Listing Contact
    Bob C Olson
    Bob C Olson
    Real Estate License ID: 94-76949
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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