Updated Duplex with Attached
For Sale
$429,900
2713 Packerland Dr, Green Bay, WI 54313
Two remodeled residential units feature private garage access and refreshed interior finishes.
Property Size1,728 SF
Price / SF$248.78
Days on Market10
Property Features for 2713 Packerland Dr
General Information
Standard status
Active
Size
1,728 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
storage shed
fenced yard
stainless steel appliances
quartz countertops
Building Details
Year Built
1982
Buildings
1
Listing Agency:
Renard Realty
Listed By:
Shane Renard - Principal Broker Owner · License #9057962
(920) 606-4436
Source:
Renardrealtygroup
Added: Sep 18
Changed: Sep 23
Last Checked: Sep 26 at 7:07AM
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 Renard Realty
Investment Insights
Based on property information with market context.
This 1,728-square-foot duplex, built in 1982, contains two 2-bedroom, 1-bath residences. Each unit has a remodeled kitchen with stainless steel appliances and quartz countertops, a renovated bathroom, and new flooring. Exterior improvements include replacement windows, doors, and siding. Garage capacity differs by unit, with one attached 2-car garage and one attached 1-stall garage. The property also includes a new storage shed and fenced yard.
Located at 2713 Packerland Dr in Green Bay’s Ashwaubenon area, the duplex combines updated interiors with dedicated storage and off-street vehicle accommodation. Its two-unit configuration provides a residential layout suited to ownership or rental use, subject to applicable requirements.
Located at 2713 Packerland Dr in Green Bay’s Ashwaubenon area, the duplex combines updated interiors with dedicated storage and off-street vehicle accommodation. Its two-unit configuration provides a residential layout suited to ownership or rental use, subject to applicable requirements.
Key Highlights
- Two 2‑bedroom, 1‑bath units
- 1,728 square feet; built in 1982
- One attached 2‑car garage and one 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
$15,089
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
3.51%
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%
$301,780
$301.8K
Cap Rate 7%
$215,557
$215.6K
Cap Rate 9%
$167,656
$167.7K
Market Conditions
NOI Build-Up for 1,728 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
$22.8K $13.20/SF
− Vacancy
−$1.3K −$0.73/SF
EGI
$21.6K $12.47/SF
− OpEx
−$6.5K −$3.74/SF
NOI
$15.1K $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%
$301,780
Cap Rate 7%
$215,557
Cap Rate 9%
$167,656
Alternative Uses
Best Use
Multifamily LT 5
$215.6K
$188.6K – $251.5K
NOI $15,089 @ 7.0% cap · market cap 3.51%
Second Best
Apartment 5plus
$200.8K
$175.7K – $234.3K
NOI $14,055 @ 7.0% cap · market cap 3.27%
Theoretical Best
Office A
$402.9K
$352.5K – $470.0K
NOI $28,201 @ 7.0% cap · market cap 6.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
403
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
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two remodeled residential units feature private garage access and refreshed interior finishes.
Where is this duplex located?
The property is located at 2713 Packerland Dr Green Bay, WI.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units; 1,728 square feet; built in 1982; One attached 2‑car garage and one attached 1‑stall garage
