Custom-Built Duplex With Finished Lower
For Sale
$849,900
2206 BLUE STEM Lane, De Pere, WI 54115
Two separately parceled homes support owner-occupancy, rental, or individual-sale options.
Property Size4,056 SF
Price / SF$209.54
Days on Market53
Property Features for 2206 BLUE STEM Lane
General Information
Standard status
Active
Size
4,056 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,764
Building Details
Building Size
4,056 SF
Year Built
2017
Listing Agency:
Shorewest, Realtors
Listed By:
Rick P. Turriff · License #91-936003
(920) 621-7041
Source:
C21ace
Added: Jul 30
Changed: Sep 16
Last Checked: Sep 19 at 12:21PM
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 Shorewest, Realtors
Investment Insights
Based on property information with market context.
Built in 2017, this 4,056-square-foot duplex consists of two custom-built homes with separate parcel numbers and tax IDs. The property is zoned as zero lot line, supporting separate ownership treatment for each residence. Interior finishes include granite countertops, hardwood flooring, and maple cabinetry and trim.
The 2208 side adds a finished lower level with a large family room, fireplace, bar area, bedroom, and full bath. Its main living room also features a fireplace, while a south-facing sunroom provides another fireplace-equipped living area. The 2206 side has an unfinished lower level with an egress window, providing additional basement space. The configuration supports owner-occupancy, rental use, or the potential sale of the homes individually.
The 2208 side adds a finished lower level with a large family room, fireplace, bar area, bedroom, and full bath. Its main living room also features a fireplace, while a south-facing sunroom provides another fireplace-equipped living area. The 2206 side has an unfinished lower level with an egress window, providing additional basement space. The configuration supports owner-occupancy, rental use, or the potential sale of the homes individually.
Key Highlights
- 4,056 SF duplex built in 2017
- Separate parcel #'s and tax ID's for each home
- Zero lot line zoning
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
$38,427
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
4.52%
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%
$768,540
$768.5K
Cap Rate 7%
$548,957
$549.0K
Cap Rate 9%
$426,967
$427.0K
Market Conditions
NOI Build-Up for 4,056 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
$56.9K $14.04/SF
− Vacancy
−$2.1K −$0.51/SF
EGI
$54.9K $13.53/SF
− OpEx
−$16.5K −$4.06/SF
NOI
$38.4K $9.47/SF
Area
Brown County, WI
Vacancy
3.60%
Lease Rate
$14.04 /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%
$768,540
Cap Rate 7%
$548,957
Cap Rate 9%
$426,967
Alternative Uses
Best Use
Multifamily LT 5
$549.0K
$480.3K – $640.5K
NOI $38,427 @ 7.0% cap · market cap 4.52%
Second Best
Apartment 5plus
$507.2K
$443.8K – $591.7K
NOI $35,501 @ 7.0% cap · market cap 4.18%
Theoretical Best
Warehouse
$3.39M
$2.97M – $3.96M
NOI $237,413 @ 7.0% cap · market cap 27.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4
Businesses Nearby
Explore this area
Business Placement
Demographics for 54115, WI
48,710
Population
20,415
Households
2.4
Avg Household Size
37
Median Age
40%
College-Educated
96%
High-School Grad
124.0 sq mi
ZIP Area
393
Density / Sq Mi
$92,023
Median Household Income
$46,843
Median Earnings
$1,071
Median Rent
$307,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two separately parceled homes support owner-occupancy, rental, or individual-sale options.
Where is this duplex located?
The property is located at 2206 BLUE STEM Lane De Pere, WI.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: 4,056 SF duplex built in 2017; Separate parcel #'s and tax ID's for each home; Zero lot line zoning
