Two-Story Duplex Near
For Sale
$179,900
826 East Washington Street, Appleton, WI 54911
Residential duplex with forced-air heat, natural gas service, and a level lot near Lawrence University and the Fox River.
Property Size1,580 SF
Price / SF$113.86
Days on Market127
Property Features for 826 East Washington Street
General Information
Standard status
Active
Size
1,580 SF
Property subtype
Multifamily / Duplex (2 Unit)
Zoning
Residential
Taxes and HOA fees
Annual Taxes
$2,052
Amenities
Forced Air
1
Natural Gas
2
Full,Sump Pump
Poured Concrete,Stone
2 Story,2 Up and Down
Shake Siding
1st Floor Bedroom,1st Floor Full Bath,Level Drive,Level Lot
Building Details
Year Built
1908
Buildings
1
Tenancy
Multi
Listing Agency:
Keller Williams Fox Cities
(920) 428-0066
Listed By:
Shane M Lathrop · License #94-79092
(920) 428-0066
Source:
Compass
Added: Apr 28
Changed: Aug 31
Last Checked: Aug 29 at 9:07PM
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 Keller Williams Fox Cities
Investment Insights
Based on property information with market context.
This two-story duplex contains 1,580 square feet and was built in 1908. The property has forced-air heating, natural gas service, a poured-concrete and stone foundation, shake siding, and a sump pump. A first-floor bedroom and full bathroom are among the listed interior and exterior features, while the level lot and driveway provide straightforward site access.
The property is located on East Washington Street in Appleton, within blocks of Downtown Appleton, Lawrence University, the Fox River, City Park, and Peabody Park. Residential zoning and the duplex configuration support its established multifamily use.
The property is located on East Washington Street in Appleton, within blocks of Downtown Appleton, Lawrence University, the Fox River, City Park, and Peabody Park. Residential zoning and the duplex configuration support its established multifamily use.
Key Highlights
- 1,580‑square‑foot duplex built in 1908
- Two‑story configuration with a first‑floor bedroom and full bathroom
- Forced‑air heat and natural gas service
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
$12,041
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
6.69%
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%
$240,820
$240.8K
Cap Rate 7%
$172,014
$172.0K
Cap Rate 9%
$133,789
$133.8K
Market Conditions
NOI Build-Up for 1,580 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
$18.0K $11.40/SF
− Vacancy
−$811 −$0.51/SF
EGI
$17.2K $10.89/SF
− OpEx
−$5.2K −$3.27/SF
NOI
$12.0K $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%
$240,820
Cap Rate 7%
$172,014
Cap Rate 9%
$133,789
Alternative Uses
Best Use
Multifamily LT 5
$172.0K
$150.5K – $200.7K
NOI $12,041 @ 7.0% cap · market cap 6.69%
Second Best
Apartment 5plus
$161.0K
$140.9K – $187.9K
NOI $11,271 @ 7.0% cap · market cap 6.27%
Theoretical Best
Office A
$435.6K
$381.2K – $508.2K
NOI $30,494 @ 7.0% cap · market cap 16.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
688
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 - Residential duplex with forced-air heat, natural gas service, and a level lot near Lawrence University and the Fox River.
Where is this duplex located?
The property is located at 826 East Washington Street Appleton, WI.
What is the asking price?
The asking price for this property is $179,900.
What are key features of this property?
This property features: 1,580‑square‑foot duplex built in 1908; Two‑story configuration with a first‑floor bedroom and full bathroom; Forced‑air heat and natural gas service
