Side-by-Side Duplex with
For Sale
$329,900
961 Alta Street, Green Bay, WI 54313
Ranch duplex with unfinished basements, updated finishes, and separate two-bedroom living spaces.
Property Size2,262 SF
Price / SF$145.84
Days on Market174
Property Features for 961 Alta Street
General Information
Standard status
Active
Size
2,262 SF
Property subtype
Multifamily / Duplex (2 Unit)
Zoning
2 Family/Duplex,Resident
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Average Monthly Rent
$1,025
Taxes and HOA fees
Annual Taxes
$3,307
Amenities
Forced Air
2
Natural Gas
Full
Poured Concrete
1 Story,2 side by side
Vinyl Siding
1st Floor Bedroom,1st Floor Full Bath
Building Details
Year Built
1971
Buildings
1
Construction
Ranch
Listing Agency:
Shorewest, Realtors
(920) 593-4136
Listed By:
Jeff J Deacon · License #94-52308
(920) 593-4136
Source:
Compass
Added: Mar 12
Changed: Aug 31
Last Checked: Aug 30 at 6:46AM
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 Shorewest, Realtors
Investment Insights
Based on property information with market context.
This one-story, side-by-side duplex contains two residential units within a 2,262-square-foot building constructed in 1971. Each unit includes two bedrooms, one full bathroom, a large living room, and an open kitchen with dining space. Both sides also provide a first-floor bedroom and full bath, while the full unfinished basements add storage capacity. The unit at 961 Alta Street includes an extra room adjoining the kitchen and laundry hookups.
Recent improvements to that unit include a furnace installed in 2024, new flooring, and fresh paint completed within the past 2–3 years. The property has forced-air heating, natural gas service, vinyl siding, and poured-concrete basement construction. Zoning is identified as 2 Family/Duplex, Resident. Both units are currently occupied, with tenants responsible for utilities.
Recent improvements to that unit include a furnace installed in 2024, new flooring, and fresh paint completed within the past 2–3 years. The property has forced-air heating, natural gas service, vinyl siding, and poured-concrete basement construction. Zoning is identified as 2 Family/Duplex, Resident. Both units are currently occupied, with tenants responsible for utilities.
Key Highlights
- 2,262‑square‑foot side‑by‑side duplex built in 1971
- Two units, each with 2 bedrooms and 1 full bath
- Full unfinished basement beneath each unit
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
$19,751
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
5.99%
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%
$395,020
$395.0K
Cap Rate 7%
$282,157
$282.2K
Cap Rate 9%
$219,456
$219.5K
Market Conditions
NOI Build-Up for 2,262 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
$29.9K $13.20/SF
− Vacancy
−$1.6K −$0.73/SF
EGI
$28.2K $12.47/SF
− OpEx
−$8.5K −$3.74/SF
NOI
$19.8K $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%
$395,020
Cap Rate 7%
$282,157
Cap Rate 9%
$219,456
Alternative Uses
Best Use
Multifamily LT 5
$282.2K
$246.9K – $329.2K
NOI $19,751 @ 7.0% cap · market cap 5.99%
Second Best
Apartment 5plus
$262.8K
$230.0K – $306.7K
NOI $18,399 @ 7.0% cap · market cap 5.58%
Theoretical Best
Office A
$527.4K
$461.5K – $615.3K
NOI $36,916 @ 7.0% cap · market cap 11.19%
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
182
Businesses Nearby
Explore this area
Business Placement
Demographics for 54313, WI
39,911
Population
16,162
Households
2.5
Avg Household Size
43
Median Age
43%
College-Educated
97%
High-School Grad
56.5 sq mi
ZIP Area
706
Density / Sq Mi
$108,410
Median Household Income
$55,255
Median Earnings
$1,088
Median Rent
$294,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Ranch duplex with unfinished basements, updated finishes, and separate two-bedroom living spaces.
Where is this duplex located?
The property is located at 961 Alta Street Green Bay, WI.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: 2,262‑square‑foot side‑by‑side duplex built in 1971; Two units, each with 2 bedrooms and 1 full bath; Full unfinished basement beneath each unit
