Side-by-Side Duplex with
For Sale
$385,000
2220 Deer Trail, Green Bay, WI 54302
Two three-bedroom units include private basements, laundry hookups, and separate attached garages.
Property Size1,698 SF
Price / SF$226.74
Days on Market158
Property Features for 2220 Deer Trail
General Information
Standard status
Active
Size
1,698 SF
Total Parking Spaces
2
Property subtype
Multifamily / Duplex (2 Unit)
Zoning
Residential
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$4,962
Amenities
private basement
laundry hookups
Forced Air
2
Natural Gas
Full,Sump Pump
1
Poured Concrete
1 Story,2 side by side
Aluminum Siding
1st Floor Bedroom,1st Floor Full Bath,Level Drive,Level Lot
Building Details
Year Built
1978
Buildings
1
Tenancy
Single
Listing Agency:
Keller Williams Green Bay
(920) 360-9342
Listed By:
Matt Jorgenson · License #90-59236
(920) 360-9342
Source:
Compass
Added: Mar 25
Changed: Aug 29
Last Checked: Aug 29 at 1:48PM
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 Keller Williams Green Bay
Investment Insights
Based on property information with market context.
This 1,698-square-foot residential duplex was built in 1978 and arranged as two side-by-side units. Each residence offers 3 bedrooms, 1 full bath, an attached 1-stall garage, and a private basement with storage, mechanicals, and laundry hookups. The property has aluminum siding, poured-concrete construction, level drives, and level lot conditions. Forced-air heating and natural gas service are provided.
Unit 2220 includes LVP flooring, refinished original hardwood floors, and fresh paint. Unit 2224 is occupied under a month-to-month rental arrangement, while the other unit is positioned for occupancy. The residential zoning and two-unit layout support either continued rental use or an owner-occupant arrangement.
Unit 2220 includes LVP flooring, refinished original hardwood floors, and fresh paint. Unit 2224 is occupied under a month-to-month rental arrangement, while the other unit is positioned for occupancy. The residential zoning and two-unit layout support either continued rental use or an owner-occupant arrangement.
Key Highlights
- Two side‑by‑side units, each with 3 bedrooms and 1 full bath
- 1,698 square feet; constructed in 1978
- Each unit includes an attached 1‑stall garage
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
$14,827
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
3.85%
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%
$296,540
$296.5K
Cap Rate 7%
$211,814
$211.8K
Cap Rate 9%
$164,744
$164.7K
Market Conditions
NOI Build-Up for 1,698 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
$22.4K $13.20/SF
− Vacancy
−$1.2K −$0.73/SF
EGI
$21.2K $12.47/SF
− OpEx
−$6.4K −$3.74/SF
NOI
$14.8K $8.73/SF
Area
Green Bay, WI
Vacancy
5.50%
Lease Rate
$13.20 /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%
$296,540
Cap Rate 7%
$211,814
Cap Rate 9%
$164,744
Alternative Uses
Best Use
Multifamily LT 5
$211.8K
$185.3K – $247.1K
NOI $14,827 @ 7.0% cap · market cap 3.85%
Second Best
Apartment 5plus
$197.3K
$172.6K – $230.2K
NOI $13,811 @ 7.0% cap · market cap 3.59%
Theoretical Best
Office A
$395.9K
$346.4K – $461.9K
NOI $27,711 @ 7.0% cap · market cap 7.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
161
Businesses Nearby
Explore this area
Business Placement
Demographics for 54302, WI
31,327
Population
13,390
Households
2.3
Avg Household Size
34
Median Age
19%
College-Educated
81%
High-School Grad
9.2 sq mi
ZIP Area
3,405
Density / Sq Mi
$55,772
Median Household Income
$37,257
Median Earnings
$881
Median Rent
$164,500
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 three-bedroom units include private basements, laundry hookups, and separate attached garages.
Where is this duplex located?
The property is located at 2220 Deer Trail Green Bay, WI.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Two side‑by‑side units, each with 3 bedrooms and 1 full bath; 1,698 square feet; constructed in 1978; Each unit includes an attached 1‑stall garage
