Two-Unit Duplex Near Lake
For Sale
$193,000
922 Broadway Ave, Sheboygan, WI 53081
Separate three- and two-bedroom residences support flexible occupancy or rental use.
Property Size1,916 SF
Price / SF$100.73
Days on Market14
Property Features for 922 Broadway Ave
General Information
Standard status
Active
Size
1,916 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,879
Listing Agency:
The Kramer Group LLC
(920) 698-9957
Listed By:
Laura Steinbacher
(920) 698-9957
Source:
Exprealty
Added: Aug 10
Changed: Aug 22
Last Checked: Aug 23 at 7:59AM
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 The Kramer Group LLC
Investment Insights
Based on property information with market context.
This duplex contains two residential units with distinct layouts. The lower residence offers three bedrooms and main-floor laundry, while the upper residence includes two bedrooms in a functional arrangement. The property provides a total of 1,916 SF of building area.
Located at 922 Broadway Ave in Sheboygan, the property is blocks from Lake Michigan and close to local schools, parks, and Sheboygan amenities. Its two-unit configuration supports an owner-occupant arrangement with rental income from the other residence or use as a small multifamily investment.
Located at 922 Broadway Ave in Sheboygan, the property is blocks from Lake Michigan and close to local schools, parks, and Sheboygan amenities. Its two-unit configuration supports an owner-occupant arrangement with rental income from the other residence or use as a small multifamily investment.
Key Highlights
- Two‑unit duplex with lower and upper residences
- Lower unit includes 3 bedrooms and main‑floor laundry
- Upper unit features 2 bedrooms
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
$16,139
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
8.36%
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%
$322,780
$322.8K
Cap Rate 7%
$230,557
$230.6K
Cap Rate 9%
$179,322
$179.3K
Market Conditions
NOI Build-Up for 1,916 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
$24.1K $12.60/SF
− Vacancy
−$1.1K −$0.57/SF
EGI
$23.1K $12.03/SF
− OpEx
−$6.9K −$3.61/SF
NOI
$16.1K $8.42/SF
Area
Sheboygan County, WI
Vacancy
4.50%
Lease Rate
$12.60 /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%
$322,780
Cap Rate 7%
$230,557
Cap Rate 9%
$179,322
Alternative Uses
Best Use
Multifamily LT 5
$230.6K
$201.7K – $269.0K
NOI $16,139 @ 7.0% cap · market cap 8.36%
Second Best
Apartment 5plus
$214.4K
$187.6K – $250.2K
NOI $15,010 @ 7.0% cap · market cap 7.78%
Theoretical Best
Office A
$417.6K
$365.4K – $487.2K
NOI $29,230 @ 7.0% cap · market cap 15.15%
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
410
Businesses Nearby
Explore this area
Business Placement
Demographics for 53081, WI
43,465
Population
20,121
Households
2.2
Avg Household Size
38
Median Age
22%
College-Educated
90%
High-School Grad
23.3 sq mi
ZIP Area
1,865
Density / Sq Mi
$62,401
Median Household Income
$42,329
Median Earnings
$866
Median Rent
$169,700
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 - Separate three- and two-bedroom residences support flexible occupancy or rental use.
Where is this duplex located?
The property is located at 922 Broadway Ave Sheboygan, WI.
What is the asking price?
The asking price for this property is $193,000.
What are key features of this property?
This property features: Two‑unit duplex with lower and upper residences; Lower unit includes 3 bedrooms and main‑floor laundry; Upper unit features 2 bedrooms
