Three-Unit Apartment
For Sale
$229,900
920 Dousman St, Green Bay, WI 54303
Triplex with a two-bedroom unit, two one-bedroom units, shared laundry, storage, and tenant parking.
Property Size2,213 SF
Price / SF$103.89
Days on Market49
Property Features for 920 Dousman St
General Information
Standard status
Active
Size
2,213 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR, 2 x 1BR
Multifamily Units
3
Additional Details
Gross Income
$31,200
Amenities
coin-operated laundry
designated storage
Building Details
Year Built
1910
Buildings
1
Listing Agency:
Thiel Real Estate
Listed By:
Julie A. Grebe
(920) 849-2222
Source:
Moving2greenbay
Added: Aug 10
Changed: Sep 26
Last Checked: Sep 26 at 12:35PM
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 Thiel Real Estate
Investment Insights
Based on property information with market context.
This triplex includes one two-bedroom apartment and two one-bedroom apartments within a well-maintained residential income property. Each apartment has designated storage, while the basement provides coin-operated laundry for residents. A three-stall carport serves tenant parking needs.
The property is located on Green Bay’s west side at 920 Dousman Street. Broadway Street is approximately a 10-minute walk away, providing access to local dining, shopping, and entertainment. The unit mix and shared amenities create a straightforward three-unit configuration for continued residential rental use.
The property is located on Green Bay’s west side at 920 Dousman Street. Broadway Street is approximately a 10-minute walk away, providing access to local dining, shopping, and entertainment. The unit mix and shared amenities create a straightforward three-unit configuration for continued residential rental use.
Key Highlights
- Three‑unit property with one two‑bedroom apartment and two one‑bedroom apartments
- Three‑stall carport provides tenant parking
- Coin‑operated laundry located in the basement
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
$19,323
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
8.40%
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%
$386,460
$386.5K
Cap Rate 7%
$276,043
$276.0K
Cap Rate 9%
$214,700
$214.7K
Market Conditions
NOI Build-Up for 2,213 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
$29.2K $13.20/SF
− Vacancy
−$1.6K −$0.73/SF
EGI
$27.6K $12.47/SF
− OpEx
−$8.3K −$3.74/SF
NOI
$19.3K $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%
$386,460
Cap Rate 7%
$276,043
Cap Rate 9%
$214,700
Alternative Uses
Best Use
Multifamily LT 5
$276.0K
$241.5K – $322.1K
NOI $19,323 @ 7.0% cap · market cap 8.40%
Second Best
Apartment 5plus
$257.1K
$225.0K – $300.0K
NOI $18,000 @ 7.0% cap · market cap 7.83%
Theoretical Best
Office A
$515.9K
$451.5K – $601.9K
NOI $36,116 @ 7.0% cap · market cap 15.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
663
Businesses Nearby
Explore this area
Business Placement
Demographics for 54303, WI
27,478
Population
13,088
Households
2.1
Avg Household Size
36
Median Age
18%
College-Educated
91%
High-School Grad
11.5 sq mi
ZIP Area
2,389
Density / Sq Mi
$58,110
Median Household Income
$38,983
Median Earnings
$859
Median Rent
$160,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Triplex - Triplex with a two-bedroom unit, two one-bedroom units, shared laundry, storage, and tenant parking.
Where is this triplex located?
The property is located at 920 Dousman St Green Bay, WI.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: Three‑unit property with one two‑bedroom apartment and two one‑bedroom apartments; Three‑stall carport provides tenant parking; Coin‑operated laundry located in the basement
