Updated Duplex With Attached
New
For Sale
$429,900
2713 PACKERLAND Drive, Green Bay, WI 54313
Residential Income, GREEN BAY, WI
Property Size1,728 SF
Lot Size0.31 Acres
Price / SF$248.78
Days on Market3
Property Features for 2713 PACKERLAND Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
2 Family/Duplex
Parking
3
Lot features
Corner Lot
Elementary school district
Ashwaubenon
Middle school district
Ashwaubenon
High school district
Ashwaubenon
Directions
Hwy 172 to Packerland, South to home. Corner of Packerland and Paulson
Standard status
Active
APN
VA-696-80
Size
1,728 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3227
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
storage shed
fenced yard
Building Details
Year built
1982
Number of units
2
Building materials
Vinyl Siding
Listing Agency:
Shorewest, Realtors
(920) 593-4100
Listed By:
Jody P. Kemppainen · License #9451623
(920) 593-4143
Added: Sep 16
Changed: Sep 18
Last Checked: Sep 18 at 9:06AM
MLS# 50332773
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 duplex at 2713 Packerland Drive in Green Bay contains 1,728 square feet and was built in 1982. The property includes two 2-bedroom, 1-bath residences, with one unit offering a 2-car attached garage and the other a 1-stall attached garage. Both interiors have remodeled kitchens with stainless steel appliances and quartz countertops, updated bathrooms, and new flooring. Exterior improvements include vinyl siding, replacement windows, and new doors, while a storage shed and fenced yard add practical utility.
The property is served by public water and public sewer, with forced-air heat and central air conditioning. Zoned 2 Family/Duplex, the configuration supports continued use as a two-unit residential income property. Its Green Bay location and separate attached garages provide functional amenities for both units.
The property is served by public water and public sewer, with forced-air heat and central air conditioning. Zoned 2 Family/Duplex, the configuration supports continued use as a two-unit residential income property. Its Green Bay location and separate attached garages provide functional amenities for both units.
Key Highlights
- Two 2‑bedroom, 1‑bath units within 1,728 square feet
- Attached garages provide 2‑car capacity for one unit and 1‑stall capacity for the other
- Remodeled kitchens with stainless steel appliances and quartz countertops
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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Open Analytics
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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Cap Rate, Value Estimation, Potential NOI and more
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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 units feature private garages, contemporary finishes, fenced outdoor space, and public utilities.
Where is this duplex located?
The property is located at 2713 PACKERLAND Drive 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 within 1,728 square feet; Attached garages provide 2‑car capacity for one unit and 1‑stall capacity for the other; Remodeled kitchens with stainless steel appliances and quartz countertops
