Brick Duplex Near Lambeau
For Sale
$435,000
2098 TRUE Lane, Green Bay, WI 54304
Residential Income, GREEN BAY, WI
Property Size2,554 SF
Lot Size0.23 Acres
Price / SF$170.32
Days on Market12
Property Features for 2098 TRUE Lane
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
2 Family/Duplex
Parking
2
Lot features
Corner Lot
Elementary school district
Ashwaubenon
Middle school district
Ashwaubenon
High school district
Ashwaubenon
Directions
Ridge Rd to west on Morris Ln to south on True Ln to duplex.
Standard status
Active
APN
VA-428-C-4
Size
2,554 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3881
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
1962
Number of units
2
Building materials
Brick
Listing Agency:
Starry Realty
Listed By:
Richard W. Starry · License #91937487
(920) 265-1313
Added: Sep 1
Changed: Sep 12
Last Checked: Sep 12 at 8:06AM
MLS# 50332057
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.
This 2,554-square-foot brick duplex, built in 1962, includes two separate residential units. Each side has three bedrooms, an eat-in kitchen with appliances, a living room, and a basement area. The True Lane unit adds a primary bedroom with a private full bath, a recreation area, storage, and a utility space, while the Bethany Place unit includes a large unfinished basement. Heating is provided by hot water. The property is connected to public water and public sewer and sits on a 0.23-acre lot.
The duplex is located two blocks from Lambeau Field and the Titletown District, with nearby access to those destinations on foot. Zoning is designated 2 Family/Duplex, supporting the property's two-unit configuration.
The duplex is located two blocks from Lambeau Field and the Titletown District, with nearby access to those destinations on foot. Zoning is designated 2 Family/Duplex, supporting the property's two-unit configuration.
Key Highlights
- 2,554‑square‑foot brick duplex built in 1962
- Two three‑bedroom units with separate kitchens and living areas
- True Lane unit includes 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
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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
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom units offer separate kitchens, living areas, basements, and included appliances within a duplex layout.
Where is this duplex located?
The property is located at 2098 TRUE Lane 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: 2,554‑square‑foot brick duplex built in 1962; Two three‑bedroom units with separate kitchens and living areas; True Lane unit includes a primary bedroom with private full bath
