Two-Unit Duplex with
New
For Sale
$244,900
218 E SPRING Street, Appleton, WI 54911
Separate utility services and tenant-provided lawn and snow care support straightforward property operations.
Property Size1,812 SF
Price / SF$135.15
Days on Market6
Property Features for 218 E SPRING Street
General Information
Standard status
Active
Size
1,812 SF
Total Parking Spaces
2
Property subtype
Duplex
Units
Unit Mix
1 x 3BR, 1 x 2BR
Multifamily Units
2
Additional Details
Gross Income
$28,500
Taxes and HOA fees
Annual Taxes
$2,740
Building Details
Building Size
1,812 SF
Year Built
1890
Listing Agency:
Coldwell Banker Real Estate Group
Listed By:
Tiffany L. Holtz · License #91-6849
(920) 415-0472
Source:
C21ace
Added: Oct 15
Changed: Oct 19
Last Checked: Oct 19 at 2:07PM
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
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Investment Insights
Based on property information with market context.
This 1,812-square-foot duplex, built in 1890, contains two apartments: a three-bedroom lower unit and a two-bedroom upper unit. Each apartment has separate utilities, and the property includes a two-car garage.
Both units are rented through 2027. Tenants handle lawn maintenance and snow care.
Both units are rented through 2027. Tenants handle lawn maintenance and snow care.
Key Highlights
- Two apartments: three bedrooms downstairs and two bedrooms upstairs
- 1,812 square feet; built in 1890
- Separate utility services for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,809
Cap Rate
5.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$276,180
$276.2K
Cap Rate 7%
$197,271
$197.3K
Cap Rate 9%
$153,433
$153.4K
Market Conditions
NOI Build-Up for 1,812 SF
Gross rent
$20.7K $11.40/SF
− Vacancy
−$930 −$0.51/SF
EGI
$19.7K $10.89/SF
− OpEx
−$5.9K −$3.27/SF
NOI
$13.8K $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 Rate 5%
$276,180
Cap Rate 7%
$197,271
Cap Rate 9%
$153,433
Alternative Uses
Best Use
Multifamily LT 5
$197.3K
$172.6K – $230.2K
NOI $13,809 @ 7.0% cap · market cap 5.64%
Second Best
Apartment 5plus
$184.7K
$161.6K – $215.4K
NOI $12,926 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$499.6K
$437.2K – $582.9K
NOI $34,972 @ 7.0% cap · market cap 14.28%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
976
Businesses Nearby
Explore this area
Business Placement
Demographics for 54911, WI
26,964
Population
11,171
Households
2.4
Avg Household Size
37
Median Age
35%
College-Educated
94%
High-School Grad
8.4 sq mi
ZIP Area
3,210
Density / Sq Mi
$66,747
Median Household Income
$38,591
Median Earnings
$1,010
Median Rent
$199,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Separate utility services and tenant-provided lawn and snow care support straightforward property operations.
Where is this duplex located?
The property is located at 218 E SPRING Street Appleton, WI.
What is the asking price?
The asking price for this property is $244,900.
What are key features of this property?
This property features: Two apartments: three bedrooms downstairs and two bedrooms upstairs; 1,812 square feet; built in 1890; Separate utility services for each unit
