Updated Duplex With Attached
For Sale
$389,900
418 KELLY JO Drive, Green Bay, WI 54303
Two-bedroom units feature refreshed systems, private patios, appliance-equipped kitchens, and unfinished basement space.
Property Size4,096 SF
Price / SF$95.19
Days on Market29
Property Features for 418 KELLY JO Drive
General Information
Standard status
Active
Size
4,096 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$4,501
Building Details
Building Size
4,096 SF
Year Built
1985
Listing Agency:
Mark D Olejniczak Realty, Inc.
(920) 660-0477
Listed By:
Kathryn M. Hammer · License #91-25538
(920) 660-0477
Source:
C21ace
Added: Jul 25
Changed: Aug 14
Last Checked: Aug 22 at 11:42AM
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 Mark D Olejniczak Realty, Inc.
Investment Insights
Based on property information with market context.
Built in 1985, this 4,096-square-foot duplex offers two-bedroom, one-and-a-half-bath units with attached two-car garages. Both residences have received updates that include the roofs, furnaces, central air systems, windows, and garage doors. Each unit includes a kitchen with a dinette, appliances, pantry storage, and patio access to a concrete outdoor area. Full-wall closets are featured in the primary and secondary bedrooms.
The property also includes an unfinished basement, providing additional interior space for future use. The duplex is tenant occupied, and showings require at least 24 hours’ notice. The property is located at 418 Kelly Jo Drive in Green Bay, Wisconsin.
The property also includes an unfinished basement, providing additional interior space for future use. The duplex is tenant occupied, and showings require at least 24 hours’ notice. The property is located at 418 Kelly Jo Drive in Green Bay, Wisconsin.
Key Highlights
- 4,096‑square‑foot duplex built in 1985
- Two‑bedroom, 1.5‑bath units
- Attached two‑car 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
$35,765
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
9.17%
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%
$715,300
$715.3K
Cap Rate 7%
$510,929
$510.9K
Cap Rate 9%
$397,389
$397.4K
Market Conditions
NOI Build-Up for 4,096 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
$54.1K $13.20/SF
− Vacancy
−$3.0K −$0.73/SF
EGI
$51.1K $12.47/SF
− OpEx
−$15.3K −$3.74/SF
NOI
$35.8K $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%
$715,300
Cap Rate 7%
$510,929
Cap Rate 9%
$397,389
Alternative Uses
Best Use
Multifamily LT 5
$510.9K
$447.1K – $596.1K
NOI $35,765 @ 7.0% cap · market cap 9.17%
Second Best
Apartment 5plus
$475.9K
$416.5K – $555.3K
NOI $33,316 @ 7.0% cap · market cap 8.54%
Theoretical Best
Office A
$955.0K
$835.6K – $1.11M
NOI $66,847 @ 7.0% cap · market cap 17.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
395
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 - Two-bedroom units feature refreshed systems, private patios, appliance-equipped kitchens, and unfinished basement space.
Where is this duplex located?
The property is located at 418 KELLY JO Drive Green Bay, WI.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: 4,096‑square‑foot duplex built in 1985; Two‑bedroom, 1.5‑bath units; Attached two‑car garages
