Historic Queen Anne
For Sale
$289,900
324 S MADISON Street, Green Bay, WI 54301
Two residential units retain period character with separate entrances, kitchens, dining rooms, and laundry areas.
Property Size2,461 SF
Price / SF$117.80
Days on Market32
Property Features for 324 S MADISON Street
General Information
Standard status
Active
Size
2,461 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$4,298
Building Details
Building Size
2,461 SF
Year Built
1898
Listing Agency:
Todd Wiese Homeselling System, Inc.
(920) 406-0001
Listed By:
Alex C. Roup · License #91-835838
(920) 406-0001
Source:
C21ace
Added: Jul 22
Changed: Aug 15
Last Checked: Aug 21 at 10:06AM
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 Todd Wiese Homeselling System, Inc.
Investment Insights
Based on property information with market context.
Built in 1898, this Victorian Queen Anne duplex contains two residential units, each arranged with a living room, kitchen, separate dining room, two bedrooms, and a full bathroom. Original architectural elements include hardwood flooring, broad wood trim, vintage sinks, and other preserved period hardware. A covered front porch serves both apartments through distinct entrances and foyers.
The full basement connects to both units and provides separate laundry areas along with substantial storage. The property occupies a 0.22-acre lot and includes a detached two-car garage with one stall allocated to each unit. Its setting is near downtown shopping, dining, and entertainment, with Jackson Square Park, the Fox River trail, City Deck, the Broadway District, and hospitals located within the surrounding area. The duplex layout supports either rental use or owner occupancy.
The full basement connects to both units and provides separate laundry areas along with substantial storage. The property occupies a 0.22-acre lot and includes a detached two-car garage with one stall allocated to each unit. Its setting is near downtown shopping, dining, and entertainment, with Jackson Square Park, the Fox River trail, City Deck, the Broadway District, and hospitals located within the surrounding area. The duplex layout supports either rental use or owner occupancy.
Key Highlights
- 1898 Victorian Queen Anne duplex with two residential units
- Each unit includes 2 bedrooms, a full bathroom, kitchen, living room, and dining room
- Covered front porch with separate entrances and private foyers
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
$21,489
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
7.41%
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%
$429,780
$429.8K
Cap Rate 7%
$306,986
$307.0K
Cap Rate 9%
$238,767
$238.8K
Market Conditions
NOI Build-Up for 2,461 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
$32.5K $13.20/SF
− Vacancy
−$1.8K −$0.73/SF
EGI
$30.7K $12.47/SF
− OpEx
−$9.2K −$3.74/SF
NOI
$21.5K $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%
$429,780
Cap Rate 7%
$306,986
Cap Rate 9%
$238,767
Alternative Uses
Best Use
Multifamily LT 5
$307.0K
$268.6K – $358.2K
NOI $21,489 @ 7.0% cap · market cap 7.41%
Second Best
Apartment 5plus
$286.0K
$250.2K – $333.6K
NOI $20,017 @ 7.0% cap · market cap 6.90%
Theoretical Best
Office A
$573.8K
$502.1K – $669.4K
NOI $40,164 @ 7.0% cap · market cap 13.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,351
Businesses Nearby
Explore this area
Business Placement
Demographics for 54301, WI
22,875
Population
10,532
Households
2.2
Avg Household Size
39
Median Age
38%
College-Educated
94%
High-School Grad
6.5 sq mi
ZIP Area
3,519
Density / Sq Mi
$76,768
Median Household Income
$45,717
Median Earnings
$929
Median Rent
$205,900
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 residential units retain period character with separate entrances, kitchens, dining rooms, and laundry areas.
Where is this duplex located?
The property is located at 324 S MADISON Street Green Bay, WI.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: 1898 Victorian Queen Anne duplex with two residential units; Each unit includes 2 bedrooms, a full bathroom, kitchen, living room, and dining room; Covered front porch with separate entrances and private foyers
