Duplex with Separate
New
For Sale
$260,600
217 Leavens Ave, Sheboygan Falls, WI 53085
Each residence has its own electric, gas, and water service.
Property Size1,764 SF
Price / SF$147.73
Days on Market2
Property Features for 217 Leavens Ave
General Information
Standard status
Active
Size
1,764 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Building Details
Year Built
1920
Construction
stucco
Listing Agency:
Pleasant View Realty, LLC
Listed By:
Matthew Kapellen · License #5470790
(920) 892-7711
Source:
Sellingsheboygan
Added: Sep 26
Last Checked: Sep 26 at 3:40PM
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 Pleasant View Realty, LLC
Investment Insights
Based on property information with market context.
Built in 1920, this Sheboygan Falls duplex contains a 936-square-foot main-level residence and an 828-square-foot upper unit. The lower home has two bedrooms and an additional bonus room; the upper has two bedrooms and is vacant. Both residences have two exterior entry points, including access from the shared rear area. Refrigerators and stoves are included in each unit.
Separate electric service, gas meters, and water meters serve the two homes. Basement storage and a partitioned two-car garage provide each residence with its own parking and storage area. The property is at 217 Leavens Ave in Sheboygan Falls, Wisconsin.
Separate electric service, gas meters, and water meters serve the two homes. Basement storage and a partitioned two-car garage provide each residence with its own parking and storage area. The property is at 217 Leavens Ave in Sheboygan Falls, Wisconsin.
Key Highlights
- Two residences measuring 936 square feet and 828 square feet
- Main‑level unit includes 2 bedrooms and a bonus room; upper unit has 2 bedrooms and is vacant
- Separate electric service, gas meters, and water meters for each unit
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
$14,858
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%
$297,160
$297.2K
Cap Rate 7%
$212,257
$212.3K
Cap Rate 9%
$165,089
$165.1K
Market Conditions
NOI Build-Up for 1,764 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
$22.2K $12.60/SF
− Vacancy
−$1.0K −$0.57/SF
EGI
$21.2K $12.03/SF
− OpEx
−$6.4K −$3.61/SF
NOI
$14.9K $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%
$297,160
Cap Rate 7%
$212,257
Cap Rate 9%
$165,089
Alternative Uses
Best Use
Multifamily LT 5
$212.3K
$185.7K – $247.6K
NOI $14,858 @ 7.0% cap · market cap 5.70%
Second Best
Apartment 5plus
$197.4K
$172.7K – $230.3K
NOI $13,819 @ 7.0% cap · market cap 5.30%
Theoretical Best
Office A
$384.4K
$336.4K – $448.5K
NOI $26,911 @ 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
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
331
Businesses Nearby
Explore this area
Business Placement
Demographics for 53085, WI
11,671
Population
5,308
Households
2.2
Avg Household Size
46
Median Age
27%
College-Educated
94%
High-School Grad
69.7 sq mi
ZIP Area
167
Density / Sq Mi
$72,037
Median Household Income
$48,395
Median Earnings
$859
Median Rent
$229,200
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 - Each residence has its own electric, gas, and water service.
Where is this duplex located?
The property is located at 217 Leavens Ave Sheboygan Falls, WI.
What is the asking price?
The asking price for this property is $260,600.
What are key features of this property?
This property features: Two residences measuring 936 square feet and 828 square feet; Main‑level unit includes 2 bedrooms and a bonus room; upper unit has 2 bedrooms and is vacant; Separate electric service, gas meters, and water meters for each unit
