Duplex with Two Three-Bedroom
New
For Sale
$435,000
2098 True Ln, Green Bay, WI 54304
Two-unit property offering owner-occupant or investment use near Lambeau Field and the Titletown District.
Property Size2,554 SF
Price / SF$170.32
Days on Market2
Property Features for 2098 True Ln
General Information
Standard status
Active
Size
2,554 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
A/C on Bethany side to be replaced
Additional Details
Multifamily Units
2
Building Details
Year Built
1962
Listed By:
Shane Renard - Principal Broker Owner
(920) 606-4436
Source:
Renardrealtygroup
Added: Sep 4
Last Checked: Sep 4 at 4:35AM
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 Shane Renard - Principal Broker Owner
Investment Insights
Based on property information with market context.
This 1962 duplex contains 2,554 square feet across two residential sides. The 2098 True Lane unit includes updated flooring, a living room with a large window, an eat-in kitchen with appliances, 3 bedrooms, and a primary bedroom with a private full bath. Its lower level adds a recreation area, utility space, and storage. The 1058 Bethany Place unit features a large living room, an eat-in kitchen with appliances, 3 bedrooms, 1 full bath, and a large unfinished basement. Heating is provided by hot water. Air conditioning is present on the Bethany Place side and is noted for replacement.
The property is located 2 blocks from Lambeau Field and the Titletown District, with walking access to the district’s amenities. The two-unit configuration supports either owner occupancy or investment use.
The property is located 2 blocks from Lambeau Field and the Titletown District, with walking access to the district’s amenities. The two-unit configuration supports either owner occupancy or investment use.
Key Highlights
- Two‑unit duplex with 2,554 square feet
- Each side includes 3 bedrooms
- 2098 True Lane side has updated flooring and a primary bedroom with private full bath
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
$22,301
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
5.13%
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%
$446,020
$446.0K
Cap Rate 7%
$318,586
$318.6K
Cap Rate 9%
$247,789
$247.8K
Market Conditions
NOI Build-Up for 2,554 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
$33.7K $13.20/SF
− Vacancy
−$1.9K −$0.73/SF
EGI
$31.9K $12.47/SF
− OpEx
−$9.6K −$3.74/SF
NOI
$22.3K $8.73/SF
Area
Green Bay, 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%
$446,020
Cap Rate 7%
$318,586
Cap Rate 9%
$247,789
Alternative Uses
Best Use
Multifamily LT 5
$318.6K
$278.8K – $371.7K
NOI $22,301 @ 7.0% cap · market cap 5.13%
Second Best
Apartment 5plus
$296.8K
$259.7K – $346.2K
NOI $20,774 @ 7.0% cap · market cap 4.78%
Theoretical Best
Office A
$595.4K
$521.0K – $694.7K
NOI $41,681 @ 7.0% cap · market cap 9.58%
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
551
Businesses Nearby
Explore this area
Business Placement
Demographics for 54304, WI
27,679
Population
12,997
Households
2.1
Avg Household Size
39
Median Age
28%
College-Educated
93%
High-School Grad
11.7 sq mi
ZIP Area
2,366
Density / Sq Mi
$60,369
Median Household Income
$38,926
Median Earnings
$935
Median Rent
$200,800
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?
Duplex - Two-unit property offering owner-occupant or investment use near Lambeau Field and the Titletown District.
Where is this duplex located?
The property is located at 2098 True Ln Green Bay, WI.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,554 square feet; Each side includes 3 bedrooms; 2098 True Lane side has updated flooring and a primary bedroom with private full bath
