Side-by-Side Duplex with
For Sale
$544,900
2119 North Cloudview Drive, Appleton, WI 54914
Fully leased duplex with managed operations, private outdoor space, and a layout suited to residential income ownership.
Property Size3,484 SF
Price / SF$156.40
Days on Market202
Property Features for 2119 North Cloudview Drive
General Information
Standard status
Active
Size
3,484 SF
Total Parking Spaces
4
Property subtype
Multifamily / Duplex (2 Unit)
Zoning
2 Family/Duplex
Occupancy
100%
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Parking per Unit
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$5,495
Amenities
fireplace
dedicated laundry
deck
Forced Air
2
Natural Gas
Full,Full Sz Windows Min 20x24,Partial Fin. Contiguous
Poured Concrete
2 side by side,2 Story,Multi-Level
Vinyl Siding
Not Applicable
Building Details
Year Built
1993
Buildings
1
Tenancy
Multi
Listing Agency:
Coldwell Banker Real Estate Group
(920) 415-0472
Listed By:
Tiffany L Holtz · License #90-52424
(920) 415-0472
Source:
Compass
Added: Feb 11
Changed: Aug 31
Last Checked: Aug 30 at 12:24PM
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 Real Estate Group
Investment Insights
Based on property information with market context.
This side-by-side duplex contains 3,484 square feet built in 1993, with each residence offering approximately 1,742 square feet. Both units include 3 bedrooms, 2 full bathrooms, and a 2-car attached garage. Interior layouts feature an open main level with a great room and fireplace, dining area, fully applianced kitchen, one bedroom, and a full bathroom. Two additional bedrooms, another full bathroom, laundry, and utility or storage space are located downstairs. Each side also includes a deck and yard area.
The property is fully rented and professionally managed. It is located at 2119 North Cloudview Drive in Appleton, within the Town of Grand Chute, with shopping and highway access nearby. Zoning is 2 Family/Duplex.
The property is fully rented and professionally managed. It is located at 2119 North Cloudview Drive in Appleton, within the Town of Grand Chute, with shopping and highway access nearby. Zoning is 2 Family/Duplex.
Key Highlights
- 3,484‑square‑foot duplex built in 1993
- Each unit measures approximately 1,742 square feet
- Both residences feature 3 bedrooms and 2 full baths
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
$26,551
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
4.87%
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%
$531,020
$531.0K
Cap Rate 7%
$379,300
$379.3K
Cap Rate 9%
$295,011
$295.0K
Market Conditions
NOI Build-Up for 3,484 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
$39.7K $11.40/SF
− Vacancy
−$1.8K −$0.51/SF
EGI
$37.9K $10.89/SF
− OpEx
−$11.4K −$3.27/SF
NOI
$26.6K $7.62/SF
Area
Outagamie County, WI
Vacancy
4.50%
Lease Rate
$11.40 /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%
$531,020
Cap Rate 7%
$379,300
Cap Rate 9%
$295,011
Alternative Uses
Best Use
Multifamily LT 5
$379.3K
$331.9K – $442.5K
NOI $26,551 @ 7.0% cap · market cap 4.87%
Second Best
Apartment 5plus
$355.0K
$310.7K – $414.2K
NOI $24,852 @ 7.0% cap · market cap 4.56%
Theoretical Best
Office A
$960.6K
$840.5K – $1.12M
NOI $67,241 @ 7.0% cap · market cap 12.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
390
Businesses Nearby
Explore this area
Business Placement
Demographics for 54914, WI
31,082
Population
14,002
Households
2.2
Avg Household Size
38
Median Age
31%
College-Educated
93%
High-School Grad
19.2 sq mi
ZIP Area
1,619
Density / Sq Mi
$77,199
Median Household Income
$42,481
Median Earnings
$936
Median Rent
$210,200
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 - Fully leased duplex with managed operations, private outdoor space, and a layout suited to residential income ownership.
Where is this duplex located?
The property is located at 2119 North Cloudview Drive Appleton, WI.
What is the asking price?
The asking price for this property is $544,900.
What are key features of this property?
This property features: 3,484‑square‑foot duplex built in 1993; Each unit measures approximately 1,742 square feet; Both residences feature 3 bedrooms and 2 full baths
