Updated Duplex with Detached
For Sale
$259,900
614 N SUPERIOR Street, Appleton, WI 54911
Two residential units offer separate bedroom layouts, updated mechanical systems, and parking in a detached garage.
Property Size1,864 SF
Price / SF$139.43
Days on Market10
Property Features for 614 N SUPERIOR Street
General Information
Standard status
Active
Size
1,864 SF
Total Parking Spaces
3
Property subtype
Duplex
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,501
Building Details
Building Size
1,864 SF
Year Built
1880
Listing Agency:
Acre Realty, Ltd.
(920) 470-9692
Listed By:
Stacey L. Hennessey · License #91-24118
(920) 470-9692
Source:
C21ace
Added: Aug 20
Changed: Aug 29
Last Checked: Aug 29 at 2:43PM
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 Acre Realty, Ltd.
Investment Insights
Based on property information with market context.
This duplex contains 1,864 square feet across two residential units. The lower residence includes three bedrooms, one full bathroom, a living room, and kitchen. The upper residence provides two bedrooms, one full bathroom, and its own living and kitchen areas. Property improvements include air conditioning, a furnace, and water heater serving the main unit, along with a newer water heater and wall furnace upstairs. Some windows have been replaced, and the building has a newer metal roof.
A detached garage supplies three parking spaces: two allocated to the main unit and one for the upper unit. Built in 1880, the property is located at 614 N Superior Street in Appleton, Wisconsin, within the North Appleton area. The configuration supports either an owner-occupied arrangement or continued use as a two-unit income property.
A detached garage supplies three parking spaces: two allocated to the main unit and one for the upper unit. Built in 1880, the property is located at 614 N Superior Street in Appleton, Wisconsin, within the North Appleton area. The configuration supports either an owner-occupied arrangement or continued use as a two-unit income property.
Key Highlights
- Two‑unit duplex with 1,864 square feet of residential space
- Main unit includes 3 bedrooms and 1 full bathroom
- Upper unit includes 2 bedrooms and 1 full bathroom
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
$14,205
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
5.47%
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%
$284,100
$284.1K
Cap Rate 7%
$202,929
$202.9K
Cap Rate 9%
$157,833
$157.8K
Market Conditions
NOI Build-Up for 1,864 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
$21.2K $11.40/SF
− Vacancy
−$956 −$0.51/SF
EGI
$20.3K $10.89/SF
− OpEx
−$6.1K −$3.27/SF
NOI
$14.2K $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%
$284,100
Cap Rate 7%
$202,929
Cap Rate 9%
$157,833
Alternative Uses
Best Use
Multifamily LT 5
$202.9K
$177.6K – $236.8K
NOI $14,205 @ 7.0% cap · market cap 5.47%
Second Best
Apartment 5plus
$189.9K
$166.2K – $221.6K
NOI $13,296 @ 7.0% cap · market cap 5.12%
Theoretical Best
Office A
$513.9K
$449.7K – $599.6K
NOI $35,975 @ 7.0% cap · market cap 13.84%
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
1,749
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 residential units offer separate bedroom layouts, updated mechanical systems, and parking in a detached garage.
Where is this duplex located?
The property is located at 614 N SUPERIOR Street Appleton, WI.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,864 square feet of residential space; Main unit includes 3 bedrooms and 1 full bathroom; Upper unit includes 2 bedrooms and 1 full bathroom
