Side-by-Side Duplex with
For Sale
$450,000
68 Valerie Drive, Appleton, WI 54915
Two-story duplex with separate residences, attached garages, and month-to-month tenancy on both sides.
Property Size2,908 SF
Price / SF$154.75
Days on Market188
Property Features for 68 Valerie Drive
General Information
Standard status
Active
Size
2,908 SF
Total Parking Spaces
4
Property subtype
Multifamily / Duplex (2 Unit)
Zoning
Residential
Units
Unit Mix
3BR/1.5BA, 3BR/2.5BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$5,827
Amenities
Forced Air
2
Natural Gas
Full
Poured Concrete
2 side by side,2 Story
Vinyl Siding,Shake Siding
Level Lot
Building Details
Year Built
1989
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Expert Real Estate Partners, LLC
(920) 851-1260
Listed By:
Cheryl M Hartjes · License #90-60034
(920) 851-1260
Source:
Compass
Added: Feb 23
Changed: Aug 29
Last Checked: Aug 29 at 3:09PM
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 Expert Real Estate Partners, LLC
Investment Insights
Based on property information with market context.
This side-by-side duplex contains two separate two-story residences totaling 2,908 square feet. The residence at 68 Valerie Drive includes three bedrooms and one-and-a-half bathrooms, while the 70 side offers three bedrooms and two-and-a-half bathrooms. Each unit has a two-car attached garage. The property was built in 1989 and has a level lot with vinyl and shake siding.
Both residences are occupied under month-to-month tenancies. Interior features include forced-air heating and natural gas service, with residential zoning supporting the duplex configuration. The property is located near shopping, restaurants, and a highway. Showings require 24-hour notice.
Both residences are occupied under month-to-month tenancies. Interior features include forced-air heating and natural gas service, with residential zoning supporting the duplex configuration. The property is located near shopping, restaurants, and a highway. Showings require 24-hour notice.
Key Highlights
- Side‑by‑side duplex with two‑story residences
- 2,908‑square‑foot property built in 1989
- 68 side includes 3 BR and 1.5 BA; 70 side includes 3 BR and 2.5 BA
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
$22,162
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
4.92%
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%
$443,240
$443.2K
Cap Rate 7%
$316,600
$316.6K
Cap Rate 9%
$246,244
$246.2K
Market Conditions
NOI Build-Up for 2,908 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
$33.2K $11.40/SF
− Vacancy
−$1.5K −$0.51/SF
EGI
$31.7K $10.89/SF
− OpEx
−$9.5K −$3.27/SF
NOI
$22.2K $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%
$443,240
Cap Rate 7%
$316,600
Cap Rate 9%
$246,244
Alternative Uses
Best Use
Multifamily LT 5
$316.6K
$277.0K – $369.4K
NOI $22,162 @ 7.0% cap · market cap 4.92%
Second Best
Apartment 5plus
$296.3K
$259.3K – $345.7K
NOI $20,744 @ 7.0% cap · market cap 4.61%
Theoretical Best
Office A
$801.8K
$701.6K – $935.4K
NOI $56,124 @ 7.0% cap · market cap 12.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
448
Businesses Nearby
Explore this area
Business Placement
Demographics for 54915, WI
43,190
Population
18,373
Households
2.4
Avg Household Size
38
Median Age
38%
College-Educated
95%
High-School Grad
15.0 sq mi
ZIP Area
2,879
Density / Sq Mi
$83,814
Median Household Income
$49,554
Median Earnings
$974
Median Rent
$247,900
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-story duplex with separate residences, attached garages, and month-to-month tenancy on both sides.
Where is this duplex located?
The property is located at 68 Valerie Drive Appleton, WI.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Side‑by‑side duplex with two‑story residences; 2,908‑square‑foot property built in 1989; 68 side includes 3 BR and 1.5 BA; 70 side includes 3 BR and 2.5 BA
