Fully Rented Duplex
For Sale
$199,900
614 North Baird Street, Green Bay, WI 54302
Upper and lower units are both leased in a duplex with a newly added deck.
Property Size1,463 SF
Price / SF$136.64
Days on Market469
Property Features for 614 North Baird Street
General Information
Standard status
Active
Size
1,463 SF
Property subtype
Multifamily / Duplex (2 Unit)
Zoning
2 Family/Duplex
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,149
Amenities
Forced Air
2
Natural Gas
Full,Sump Pump
Stone
1.5 Story,2 Up and Down
Fiber Cement
1st Floor Bedroom,1st Floor Full Bath,Door Open. 29 In. Or More,Level Drive,Level Lot,Stall Shower
Building Details
Year Built
1888
Buildings
2
Tenancy
Multi
Listing Agency:
Renard Realty
Listed By:
Shane Renard · License #90-57962
(920) 606-4436
Source:
Compass
Added: May 26, 2025
Changed: Aug 8
Last Checked: Jul 21 at 12:19AM
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 Renard Realty
Investment Insights
Based on property information with market context.
This fully rented duplex includes an upper and lower unit, with both sides currently leased. The property features a brand-new deck for the upper unit, and it is positioned as a turn-key investment from day one with rental income already in place.
The duplex is located at 614 North Baird Street in Green Bay, Wisconsin. Public remarks note convenience to schools, shopping, and downtown Green Bay.
Recent updates are referenced in the remarks, supporting that improvements may already be in place. A showing is available by request.
The duplex is located at 614 North Baird Street in Green Bay, Wisconsin. Public remarks note convenience to schools, shopping, and downtown Green Bay.
Recent updates are referenced in the remarks, supporting that improvements may already be in place. A showing is available by request.
Key Highlights
- Fully rented upper/lower duplex with both units leased at 614 N. Baird St
- Newly added deck for the upper unit
- Interior includes forced‑air natural gas heating with 2 furnaces
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
$12,775
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
6.39%
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%
$255,500
$255.5K
Cap Rate 7%
$182,500
$182.5K
Cap Rate 9%
$141,944
$141.9K
Market Conditions
NOI Build-Up for 1,463 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
$19.3K $13.20/SF
− Vacancy
−$1.1K −$0.73/SF
EGI
$18.2K $12.47/SF
− OpEx
−$5.5K −$3.74/SF
NOI
$12.8K $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%
$255,500
Cap Rate 7%
$182,500
Cap Rate 9%
$141,944
Alternative Uses
Best Use
Multifamily LT 5
$182.5K
$159.7K – $212.9K
NOI $12,775 @ 7.0% cap · market cap 6.39%
Second Best
Apartment 5plus
$170.0K
$148.8K – $198.3K
NOI $11,900 @ 7.0% cap · market cap 5.95%
Theoretical Best
Office A
$341.1K
$298.5K – $397.9K
NOI $23,876 @ 7.0% cap · market cap 11.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
513
Businesses Nearby
Explore this area
Business Placement
Demographics for 54302, WI
31,327
Population
13,390
Households
2.3
Avg Household Size
34
Median Age
19%
College-Educated
81%
High-School Grad
9.2 sq mi
ZIP Area
3,405
Density / Sq Mi
$55,772
Median Household Income
$37,257
Median Earnings
$881
Median Rent
$164,500
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 - Upper and lower units are both leased in a duplex with a newly added deck.
Where is this duplex located?
The property is located at 614 North Baird Street Green Bay, WI.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Fully rented upper/lower duplex with both units leased at 614 N. Baird St; Newly added deck for the upper unit; Interior includes forced‑air natural gas heating with 2 furnaces
