Duplex with Two-Car
New
For Sale
$244,900
218 E SPRING Street, Appleton, WI 54911
Residential Income, APPLETON, WI
Property Size1,812 SF
Lot Size0.11 Acres
Price / SF$135.15
Days on Market2
Property Features for 218 E SPRING Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
2 Family/Duplex
Parking
2
Elementary school district
Appleton Area
Middle school district
Appleton Area
High school district
Appleton Area
Directions
East on Wisconsin to right on Morrison Street. Left on Spring to property on left.
Standard status
Active
APN
31-6-0311-00
Size
1,812 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
DAVID KIMBALLS ADDN 6W D W1/2 OF LOT 6 BLK 17
Tax Annual Amount
2741
Legal Description
DAVID KIMBALLS ADDN 6W D W1/2 OF LOT 6 BLK 17
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1890
Number of units
2
Building materials
Fiber Cement
Listing Agency:
Coldwell Banker Real Estate Group
(920) 993-7007
Listed By:
Tiffany L. Holtz · License #916849
(920) 415-0472
Added: Oct 15
Changed: Oct 16
Last Checked: Oct 16 at 12:06PM
MLS# 50334357
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.
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Investment Insights
Based on property information with market context.
This 1,812-square-foot duplex in Appleton has a three-bedroom lower residence and a two-bedroom upper residence. Separate utilities serve the units, and a two-car garage is included. The property was built in 1890 on a 0.11-acre lot and has fiber cement exterior construction, forced-air heat, and central air conditioning.
Both residences are occupied under leases extending into 2027. Current residents handle lawn maintenance and snow removal. The property has public water and public sewer service and is zoned 2 Family/Duplex.
Both residences are occupied under leases extending into 2027. Current residents handle lawn maintenance and snow removal. The property has public water and public sewer service and is zoned 2 Family/Duplex.
Key Highlights
- Two residences: three bedrooms on the lower level and two bedrooms upstairs
- 1,812 square feet on a 0.11‑acre lot
- Separate utility services for each residence
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.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
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 serve the lower and upper residences.
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 residences: three bedrooms on the lower level and two bedrooms upstairs; 1,812 square feet on a 0.11‑acre lot; Separate utility services for each residence
