Updated Duplex with
For Sale
$247,900
514 N 14th St, Sheboygan, WI 53081
Two refreshed units provide distinct bedroom and bath layouts with substantial mechanical and exterior upgrades.
Property Size2,780 SF
Price / SF$89.17
Days on Market71
Property Features for 514 N 14th St
General Information
Standard status
Active
Size
2,780 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,299
Listing Agency:
Greystone Asset, LLC
(920) 400-7339
Listed By:
Stacy Bender
(920) 400-7339
Source:
Exprealty
Added: Jun 20
Changed: Aug 22
Last Checked: Aug 29 at 1:02PM
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 Greystone Asset, LLC
Investment Insights
Based on property information with market context.
This duplex at 514 N 14th St in Sheboygan, WI, includes two separately configured units. The lower residence has four bedrooms, 1.5 baths, and an additional 24-by-24-foot bedroom positioned over the garage. The upper unit provides two bedrooms and one bath.
Interior improvements include granite countertops, newer flooring, fresh paint, remodeled bathrooms, replacement heating and cooling systems, and extensive electrical work. Exterior upgrades include a complete roof replacement, along with a new flat roof and decking completed in 2023. A 2.5-car garage is also part of the property.
Interior improvements include granite countertops, newer flooring, fresh paint, remodeled bathrooms, replacement heating and cooling systems, and extensive electrical work. Exterior upgrades include a complete roof replacement, along with a new flat roof and decking completed in 2023. A 2.5-car garage is also part of the property.
Key Highlights
- Two‑unit duplex with distinct lower- and upper‑level layouts
- Lower unit includes 4 bedrooms, 1.5 baths, and a 24x24 extra bedroom above the garage
- Upper unit offers 2 bedrooms and 1 bath
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
$21,778
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
8.78%
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%
$435,560
$435.6K
Cap Rate 7%
$311,114
$311.1K
Cap Rate 9%
$241,978
$242.0K
Market Conditions
NOI Build-Up for 2,780 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
$41.0K $14.76/SF
− Vacancy
−$1.4K −$0.52/SF
EGI
$39.6K $14.24/SF
− OpEx
−$17.8K −$6.41/SF
NOI
$21.8K $7.83/SF
Area
Sheboygan County, WI
Vacancy
3.50%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
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%
$435,560
Cap Rate 7%
$311,114
Cap Rate 9%
$241,978
Alternative Uses
Best Use
Multifamily LT 5
$334.5K
$292.7K – $390.3K
NOI $23,416 @ 7.0% cap · market cap 9.45%
Second Best
Apartment 5plus
$311.1K
$272.2K – $363.0K
NOI $21,778 @ 7.0% cap · market cap 8.78%
Theoretical Best
Office A
$605.9K
$530.1K – $706.9K
NOI $42,411 @ 7.0% cap · market cap 17.11%
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
1,037
Businesses Nearby
Explore this area
Business Placement
Demographics for 53081, WI
43,465
Population
20,121
Households
2.2
Avg Household Size
38
Median Age
22%
College-Educated
90%
High-School Grad
23.3 sq mi
ZIP Area
1,865
Density / Sq Mi
$62,401
Median Household Income
$42,329
Median Earnings
$866
Median Rent
$169,700
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 refreshed units provide distinct bedroom and bath layouts with substantial mechanical and exterior upgrades.
Where is this duplex located?
The property is located at 514 N 14th St Sheboygan, WI.
What is the asking price?
The asking price for this property is $247,900.
What are key features of this property?
This property features: Two‑unit duplex with distinct lower- and upper‑level layouts; Lower unit includes 4 bedrooms, 1.5 baths, and a 24x24 extra bedroom above the garage; Upper unit offers 2 bedrooms and 1 bath
