Two-Unit Up-and-Down
New
For Sale
$219,900
616 N Division St, Appleton, WI 54911
Main-level residence has two bedrooms and a 1-car garage; the upper unit includes a washer and dryer.
Property Size1,360 SF
Price / SF$161.69
Days on Market2
Property Features for 616 N Division St
General Information
Standard status
Active
Size
1,360 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Amenities
laundry hookups
washer and dryer
Building Details
Year Built
1900
Listed By:
Tiffany Holtz | Coldwell Banker
(920) 574-4422
Source:
Tiffanyholtz
Added: Sep 6
Last Checked: Sep 6 at 5:49AM
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 Tiffany Holtz | Coldwell Banker
Investment Insights
Based on property information with market context.
This 1,360 sq ft duplex is arranged with one residence on each level. The main-floor unit includes 2 bedrooms, 1 bathroom, laundry hookups, and a 1-car garage, and is currently owner-occupied. Upstairs, the 1-bedroom, 1-bathroom unit has its own entrance and is vacant, with a washer and dryer included.
Built in 1900, the property is located at 616 N Division St in Appleton, near downtown, local dining, parks, and shopping. The two-level layout provides separate living spaces and distinct access for each unit.
Built in 1900, the property is located at 616 N Division St in Appleton, near downtown, local dining, parks, and shopping. The two-level layout provides separate living spaces and distinct access for each unit.
Key Highlights
- 1,360 sq ft up‑and‑down duplex
- Main‑level unit with 2 bedrooms, 1 bathroom, laundry hookups, and a 1‑car garage
- Upper‑level unit offers 1 bedroom, 1 bathroom, and a separate entrance
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
$10,364
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
4.71%
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%
$207,280
$207.3K
Cap Rate 7%
$148,057
$148.1K
Cap Rate 9%
$115,156
$115.2K
Market Conditions
NOI Build-Up for 1,360 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
$15.5K $11.40/SF
− Vacancy
−$698 −$0.51/SF
EGI
$14.8K $10.89/SF
− OpEx
−$4.4K −$3.27/SF
NOI
$10.4K $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%
$207,280
Cap Rate 7%
$148,057
Cap Rate 9%
$115,156
Alternative Uses
Best Use
Multifamily LT 5
$148.1K
$129.6K – $172.7K
NOI $10,364 @ 7.0% cap · market cap 4.71%
Second Best
Apartment 5plus
$138.6K
$121.3K – $161.7K
NOI $9,701 @ 7.0% cap · market cap 4.41%
Theoretical Best
Office A
$375.0K
$328.1K – $437.5K
NOI $26,248 @ 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
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 - Main-level residence has two bedrooms and a 1-car garage; the upper unit includes a washer and dryer.
Where is this duplex located?
The property is located at 616 N Division St Appleton, WI.
What is the asking price?
The asking price for this property is $219,900.
What are key features of this property?
This property features: 1,360 sq ft up‑and‑down duplex; Main‑level unit with 2 bedrooms, 1 bathroom, laundry hookups, and a 1‑car garage; Upper‑level unit offers 1 bedroom, 1 bathroom, and a separate entrance
