Two-Unit Duplex with Updated
For Sale
$214,900
234 N OAKLAND Avenue, Green Bay, WI 54303
Residential Income, GREEN BAY, WI
Property Size2,092 SF
Lot Size0.05 Acres
Price / SF$102.72
Days on Market19
Property Features for 234 N OAKLAND Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
2 Family/Duplex
Parking
1
Lot features
Sidewalk
Elementary school district
Green Bay Area
Middle school district
Green Bay Area
High school district
Green Bay Area
Directions
Dousman St to N Oakland Ave to property.
Standard status
Active
APN
4-146-01
Size
2,092 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2405
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Building Details
Year built
1900
Number of units
2
Building materials
Vinyl Siding
Listing Agency:
Dallaire Realty
(920) 569-0827
Listed By:
Andrew J. Brisson · License #91936940
(920) 213-5810
Added: Aug 4
Changed: Aug 21
Last Checked: Aug 22 at 3:06PM
MLS# 50330327
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.
Investment Insights
Based on property information with market context.
This 2,092-square-foot duplex contains separate upper and lower residences, each arranged with two bedrooms and one bathroom. Hardwood flooring adds character to both units, including the upper apartment’s bedrooms, dining area, and kitchen, as well as the lower apartment’s formal dining room. French doors connect the lower living room with its primary bedroom. Both furnaces were updated in 2025.
Built in 1900 with vinyl siding, the property is served by forced-air heat, public water, and public sewer. Its 0.05-acre site is located near Downtown Green Bay, with restaurants, shopping, entertainment, and other downtown amenities nearby. The property is zoned 2 Family/Duplex and is positioned for continued use as a two-residence income property.
Built in 1900 with vinyl siding, the property is served by forced-air heat, public water, and public sewer. Its 0.05-acre site is located near Downtown Green Bay, with restaurants, shopping, entertainment, and other downtown amenities nearby. The property is zoned 2 Family/Duplex and is positioned for continued use as a two-residence income property.
Key Highlights
- 2,092‑square‑foot upper/lower duplex with two 2BR/1BA units
- Both furnaces updated in 2025
- Hardwood flooring in bedrooms, dining areas, and kitchen
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
$18,267
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
8.50%
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%
$365,340
$365.3K
Cap Rate 7%
$260,957
$261.0K
Cap Rate 9%
$202,967
$203.0K
Market Conditions
NOI Build-Up for 2,092 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
$27.6K $13.20/SF
− Vacancy
−$1.5K −$0.73/SF
EGI
$26.1K $12.47/SF
− OpEx
−$7.8K −$3.74/SF
NOI
$18.3K $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%
$365,340
Cap Rate 7%
$260,957
Cap Rate 9%
$202,967
Alternative Uses
Best Use
Multifamily LT 5
$261.0K
$228.3K – $304.5K
NOI $18,267 @ 7.0% cap · market cap 8.50%
Second Best
Apartment 5plus
$243.1K
$212.7K – $283.6K
NOI $17,016 @ 7.0% cap · market cap 7.92%
Theoretical Best
Office A
$487.7K
$426.8K – $569.0K
NOI $34,141 @ 7.0% cap · market cap 15.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,285
Businesses Nearby
Explore this area
Business Placement
Demographics for 54303, WI
27,478
Population
13,088
Households
2.1
Avg Household Size
36
Median Age
18%
College-Educated
91%
High-School Grad
11.5 sq mi
ZIP Area
2,389
Density / Sq Mi
$58,110
Median Household Income
$38,983
Median Earnings
$859
Median Rent
$160,100
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 - Upper and lower two-bedroom units with hardwood flooring, formal dining areas, and public utilities near downtown amenities.
Where is this duplex located?
The property is located at 234 N OAKLAND Avenue Green Bay, WI.
What is the asking price?
The asking price for this property is $214,900.
What are key features of this property?
This property features: 2,092‑square‑foot upper/lower duplex with two 2BR/1BA units; Both furnaces updated in 2025; Hardwood flooring in bedrooms, dining areas, and kitchen
