Upper-Lower Duplex with
For Sale
$250,000
425 East Summer Street, Appleton, WI 54911
Two separately entered residences feature hardwood floors, private access, and a shared basement entry.
Property Size1,904 SF
Price / SF$131.30
Days on Market230
Property Features for 425 East Summer Street
General Information
Standard status
Active
Size
1,904 SF
Property subtype
Multifamily / Duplex (2 Unit)
Zoning
Residential
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,976
Amenities
Forced Air
1
2
Natural Gas
Full
Stone
2 Story,Other-See Remarks
Other
1st Floor Bedroom,1st Floor Full Bath
Building Details
Year Built
1902
Buildings
1
Listing Agency:
Berkshire Hathaway HS Fox Cities Realty
Listed By:
Tamara A Van Krey · License #94-49570
(920) 851-8475
Source:
Compass
Added: Jan 16
Changed: Sep 2
Last Checked: Aug 31 at 2:10AM
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 Berkshire Hathaway HS Fox Cities Realty
Investment Insights
Based on property information with market context.
Built in 1902, this two-story duplex contains 1,904 square feet arranged as an upper residence and a lower residence. Each unit offers 2 bedrooms and 1 bathroom, with hardwood flooring and original character elements. Private entrances serve both units, while a shared entry connects to the basement and lower level. An enclosed interior staircase provides access to the upper unit.
The property includes a 3-car garage for parking and storage, along with additional driveway parking. Interior features include forced-air heat and natural gas service. Exterior details include stone elements, first-floor bedroom and full-bath accommodations, and painted slate asbestos siding.
The property includes a 3-car garage for parking and storage, along with additional driveway parking. Interior features include forced-air heat and natural gas service. Exterior details include stone elements, first-floor bedroom and full-bath accommodations, and painted slate asbestos siding.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom in each residence
- 1,904‑square‑foot building constructed in 1902
- Private entrances for both units plus shared basement entry
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
$14,510
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
5.80%
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%
$290,200
$290.2K
Cap Rate 7%
$207,286
$207.3K
Cap Rate 9%
$161,222
$161.2K
Market Conditions
NOI Build-Up for 1,904 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
$21.7K $11.40/SF
− Vacancy
−$977 −$0.51/SF
EGI
$20.7K $10.89/SF
− OpEx
−$6.2K −$3.27/SF
NOI
$14.5K $7.62/SF
Area
Outagamie County, WI
Vacancy
4.50%
Lease Rate
$11.40 /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%
$290,200
Cap Rate 7%
$207,286
Cap Rate 9%
$161,222
Alternative Uses
Best Use
Multifamily LT 5
$207.3K
$181.4K – $241.8K
NOI $14,510 @ 7.0% cap · market cap 5.80%
Second Best
Apartment 5plus
$194.0K
$169.8K – $226.4K
NOI $13,582 @ 7.0% cap · market cap 5.43%
Theoretical Best
Office A
$525.0K
$459.3K – $612.5K
NOI $36,747 @ 7.0% cap · market cap 14.70%
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
905
Businesses Nearby
Explore this area
Business Placement
Demographics for 54911, WI
26,964
Population
11,171
Households
2.4
Avg Household Size
37
Median Age
35%
College-Educated
94%
High-School Grad
8.4 sq mi
ZIP Area
3,210
Density / Sq Mi
$66,747
Median Household Income
$38,591
Median Earnings
$1,010
Median Rent
$199,100
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 separately entered residences feature hardwood floors, private access, and a shared basement entry.
Where is this duplex located?
The property is located at 425 East Summer Street Appleton, WI.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bathroom in each residence; 1,904‑square‑foot building constructed in 1902; Private entrances for both units plus shared basement entry
