Income Duplex with
For Sale
$179,900
428 West 10th Street, Kaukauna, WI 54130
Two-unit duplex offers separate utilities, with an in-suite laundry in the 3-bedroom, 1-bath main unit.
Property Size1,728 SF
Price / SF$104.11
Days on Market149
Property Features for 428 West 10th Street
General Information
Standard status
Active
Size
1,728 SF
Property subtype
Multifamily / Duplex (2 Unit)
Zoning
Residential
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,796
Amenities
1
2
Natural Gas
Partial Basement
Stone
2 Story,2 Up and Down
Vinyl Siding
Not Applicable
Building Details
Year Built
1840
Buildings
1
Listing Agency:
Keller Williams Fox Cities
Listed By:
Amanda M Furman · License #94-84725
(920) 222-1068
Source:
Compass
Added: Apr 10
Changed: Aug 8
Last Checked: Jul 21 at 4:01AM
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 Keller Williams Fox Cities
Investment Insights
Based on property information with market context.
This investor-ready duplex features an upper/lower layout with two separate units and separate utilities. The main level includes a spacious 3-bedroom, 1-bath unit with large bedrooms, an inviting living room, an eat-in kitchen, and private in-suite laundry.
The property is well located near parks and shopping, with a short walk to downtown Kaukauna.
For investors or owner-occupants, the configuration allows for either living in one unit while renting the other, or fully leasing the property for ongoing income.
The property is well located near parks and shopping, with a short walk to downtown Kaukauna.
For investors or owner-occupants, the configuration allows for either living in one unit while renting the other, or fully leasing the property for ongoing income.
Key Highlights
- Investor‑ready duplex with immediate cash flow; upper unit rents for $900/month
- Main level 3‑bedroom, 1‑bath unit with eat‑in kitchen, inviting living room, and private in‑suite laundry
- Separate utilities between units for easier expense management
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
$13,169
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
7.32%
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%
$263,380
$263.4K
Cap Rate 7%
$188,129
$188.1K
Cap Rate 9%
$146,322
$146.3K
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
$19.7K $11.40/SF
− Vacancy
−$886 −$0.51/SF
EGI
$18.8K $10.89/SF
− OpEx
−$5.6K −$3.27/SF
NOI
$13.2K $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%
$263,380
Cap Rate 7%
$188,129
Cap Rate 9%
$146,322
Alternative Uses
Best Use
Multifamily LT 5
$188.1K
$164.6K – $219.5K
NOI $13,169 @ 7.0% cap · market cap 7.32%
Second Best
Apartment 5plus
$176.1K
$154.1K – $205.4K
NOI $12,326 @ 7.0% cap · market cap 6.85%
Theoretical Best
Office A
$476.4K
$416.9K – $555.8K
NOI $33,350 @ 7.0% cap · market cap 18.54%
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
287
Businesses Nearby
Explore this area
Business Placement
Demographics for 54130, WI
27,473
Population
11,507
Households
2.4
Avg Household Size
39
Median Age
27%
College-Educated
95%
High-School Grad
78.0 sq mi
ZIP Area
352
Density / Sq Mi
$86,364
Median Household Income
$50,128
Median Earnings
$969
Median Rent
$242,300
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-unit duplex offers separate utilities, with an in-suite laundry in the 3-bedroom, 1-bath main unit.
Where is this duplex located?
The property is located at 428 West 10th Street Kaukauna, WI.
What is the asking price?
The asking price for this property is $179,900.
What are key features of this property?
This property features: Investor‑ready duplex with immediate cash flow; upper unit rents for $900/month; Main level 3‑bedroom, 1‑bath unit with eat‑in kitchen, inviting living room, and private in‑suite laundry; Separate utilities between units for easier expense management
