Two-Story Duplex with Attached
For Sale
$499,900
2364 Cedar Ridge, Green Bay, WI 54313
Residential duplex with decks, yards, and attached garages.
Property Size2,408 SF
Price / SF$207.60
Days on Market73
Property Features for 2364 Cedar Ridge
General Information
Standard status
Active
Size
2,408 SF
Property subtype
Multifamily / Duplex (2 Unit)
Zoning
Residential
Units
Unit Mix
2 x 2BR/1.5BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,309
Amenities
front porch
deck
vaulted ceilings
skylight
fireplace
yard
Forced Air
2
Natural Gas
Full,Sump Pump
Poured Concrete
2 side by side,2 Story
Vinyl Siding
Level Lot,Open Floor Plan
Building Details
Year Built
1991
Buildings
1
Stories
2
Listing Agency:
Ben Bartolazzi Real Estate, Inc
(920) 639-3141
Listed By:
Ben M Bartolazzi · License #90-58261
(920) 639-3141
Source:
Compass
Added: Jun 19
Changed: Aug 29
Last Checked: Aug 29 at 11:07PM
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 Ben Bartolazzi Real Estate, Inc
Investment Insights
Based on property information with market context.
This 2,408-square-foot duplex was built in 1991 and includes two stories, two attached two-stall garages, and a level lot. Each unit contains 2 bedrooms and 1.5 bathrooms. Main-level layouts feature kitchens with substantial cabinetry, dining areas, great rooms with vaulted ceilings, skylights, fireplaces, deck access, and half bathrooms. Upper levels provide two bedrooms and a full bathroom per unit.
The property includes front porches, decks, and good-sized yards for each unit. The roof was installed in 2021, and the right-side unit received new flooring, cabinets, and paint in 2025. Forced-air heating and natural gas are listed among the property features, with a sump pump also noted. Residential zoning supports the duplex configuration.
The property includes front porches, decks, and good-sized yards for each unit. The roof was installed in 2021, and the right-side unit received new flooring, cabinets, and paint in 2025. Forced-air heating and natural gas are listed among the property features, with a sump pump also noted. Residential zoning supports the duplex configuration.
Key Highlights
- 2,408 SF two‑story duplex built in 1991
- Each unit includes 2 bedrooms and 1.5 bathrooms
- Two attached two‑stall garages
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
$21,026
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
4.21%
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%
$420,520
$420.5K
Cap Rate 7%
$300,371
$300.4K
Cap Rate 9%
$233,622
$233.6K
Market Conditions
NOI Build-Up for 2,408 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
$31.8K $13.20/SF
− Vacancy
−$1.7K −$0.73/SF
EGI
$30.0K $12.47/SF
− OpEx
−$9.0K −$3.74/SF
NOI
$21.0K $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%
$420,520
Cap Rate 7%
$300,371
Cap Rate 9%
$233,622
Alternative Uses
Best Use
Multifamily LT 5
$300.4K
$262.8K – $350.4K
NOI $21,026 @ 7.0% cap · market cap 4.21%
Second Best
Apartment 5plus
$279.8K
$244.8K – $326.4K
NOI $19,586 @ 7.0% cap · market cap 3.92%
Theoretical Best
Office A
$561.4K
$491.2K – $655.0K
NOI $39,299 @ 7.0% cap · market cap 7.86%
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
256
Businesses Nearby
Explore this area
Business Placement
Demographics for 54313, WI
39,911
Population
16,162
Households
2.5
Avg Household Size
43
Median Age
43%
College-Educated
97%
High-School Grad
56.5 sq mi
ZIP Area
706
Density / Sq Mi
$108,410
Median Household Income
$55,255
Median Earnings
$1,088
Median Rent
$294,300
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 - Residential duplex with decks, yards, and attached garages.
Where is this duplex located?
The property is located at 2364 Cedar Ridge Green Bay, WI.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 2,408 SF two‑story duplex built in 1991; Each unit includes 2 bedrooms and 1.5 bathrooms; Two attached two‑stall garages
