Duplex With Separate
For Sale
$90,900
2219 Jefferson St, Two Rivers, WI 54241
Two-level duplex with distinct utility meter options and basement access for both units.
Property Size1,520 SF
Price / SF$59.80
Days on Market115
Property Features for 2219 Jefferson St
General Information
Standard status
Active
Size
1,520 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$1,711
Building Details
Tenancy
Multi
Listing Agency:
Weichert, Realtors CornerStone
(920) 242-1689
Listed By:
Mark Gordon · License #8660494
(920) 242-1689
Source:
Exprealty
Added: Apr 17
Changed: Aug 2
Last Checked: Aug 8 at 8:19AM
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 Weichert, Realtors CornerStone
Investment Insights
Based on property information with market context.
This 1,520-square-foot duplex has aluminum siding and a two-level layout with separate access to the upper unit from the main-floor apartment. Both units include basement access, supporting distinct residential configurations within the property. Interior work has been completed in some areas, while additional work remains to be finished.
The property offers two electrical meter options, two water meter options, and two gas meter options. Its existing layout and utility configuration support consideration for owner occupancy or an income-producing residential use.
The property offers two electrical meter options, two water meter options, and two gas meter options. Its existing layout and utility configuration support consideration for owner occupancy or an income-producing residential use.
Key Highlights
- 1,520 SF duplex with separate upper‑level access
- Aluminum siding exterior
- Basement access available to both units
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
$3,110
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
3.42%
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%
$62,200
$62.2K
Cap Rate 7%
$44,429
$44.4K
Cap Rate 9%
$34,556
$34.6K
Market Conditions
NOI Build-Up for 1,520 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
$15.5K $10.20/SF
− Vacancy
−$11.1K −$7.28/SF
EGI
$4.4K $2.92/SF
− OpEx
−$1.3K −$0.88/SF
NOI
$3.1K $2.05/SF
Area
Manitowoc County, WI
Vacancy
71.34%
Lease Rate
$10.20 /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%
$62,200
Cap Rate 7%
$44,429
Cap Rate 9%
$34,556
Alternative Uses
Best Use
Multifamily LT 5
$44.4K
$38.9K – $51.8K
NOI $3,110 @ 7.0% cap · market cap 3.42%
Second Best
Apartment 5plus
$35.7K
$31.2K – $41.6K
NOI $2,498 @ 7.0% cap · market cap 2.75%
Theoretical Best
Specialty Retail
$333.1K
$291.5K – $388.6K
NOI $23,318 @ 7.0% cap · market cap 25.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
518
Businesses Nearby
Explore this area
Business Placement
Demographics for 54241, WI
14,258
Population
7,013
Households
2
Avg Household Size
48
Median Age
22%
College-Educated
94%
High-School Grad
67.4 sq mi
ZIP Area
212
Density / Sq Mi
$63,415
Median Household Income
$40,659
Median Earnings
$757
Median Rent
$146,000
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 - Two-level duplex with distinct utility meter options and basement access for both units.
Where is this duplex located?
The property is located at 2219 Jefferson St Two Rivers, WI.
What is the asking price?
The asking price for this property is $90,900.
What are key features of this property?
This property features: 1,520 SF duplex with separate upper‑level access; Aluminum siding exterior; Basement access available to both units
