Duplex with Attached
For Sale
$399,000
N9689 Gina Drive, Appleton, WI 54915
Two-story income property with separate three-bedroom units, deck space, and a level lot in the Kimberly School District.
Property Size2,576 SF
Price / SF$154.89
Days on Market238
Property Features for N9689 Gina Drive
General Information
Standard status
Active
Size
2,576 SF
Total Parking Spaces
4
Property subtype
Multifamily / Duplex (2 Unit)
Zoning
2 Family/Duplex
Units
Unit Mix
2 x 3BR/1.5BA
Multifamily Units
2
Parking per Unit
2
Taxes and HOA fees
Annual Taxes
$4,372
Amenities
wood decks
fenced-in yard
Forced Air
2
Natural Gas
Full
Poured Concrete
2 side by side,2 Story
Brick,Vinyl Siding
Laundry 1st Floor,Level Drive,Level Lot,Open Floor Plan
Building Details
Year Built
1990
Buildings
1
Listing Agency:
Acre Realty, Ltd.
Listed By:
Stacey L Hennessey · License #90-55690
(920) 470-9692
Source:
Compass
Added: Jan 7
Changed: Sep 2
Last Checked: Aug 30 at 6:59PM
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 Acre Realty, Ltd.
Investment Insights
Based on property information with market context.
Built in 1990, this duplex offers 2,576 square feet with two three-bedroom, one-and-a-half-bath units. Each side includes a two-car attached garage, forced-air heating, natural gas service, first-floor laundry, and an open floor plan. Wood decks extend from the rear, while one unit also includes a fenced yard. The property has a poured-concrete foundation, brick and vinyl siding, level drive, and level lot.
The duplex is located on N9689 Gina Drive in Appleton, Wisconsin, near parks and shopping and within the Kimberly School District. Its two-unit configuration supports an owner-occupancy or investment-property use, as described in the property information.
The duplex is located on N9689 Gina Drive in Appleton, Wisconsin, near parks and shopping and within the Kimberly School District. Its two-unit configuration supports an owner-occupancy or investment-property use, as described in the property information.
Key Highlights
- Two‑unit duplex totaling 2,576 square feet
- Each unit has 3 bedrooms and 1.5 baths
- 2‑car attached garage on each side
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
$19,631
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%
$392,620
$392.6K
Cap Rate 7%
$280,443
$280.4K
Cap Rate 9%
$218,122
$218.1K
Market Conditions
NOI Build-Up for 2,576 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
$29.4K $11.40/SF
− Vacancy
−$1.3K −$0.51/SF
EGI
$28.0K $10.89/SF
− OpEx
−$8.4K −$3.27/SF
NOI
$19.6K $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%
$392,620
Cap Rate 7%
$280,443
Cap Rate 9%
$218,122
Alternative Uses
Best Use
Multifamily LT 5
$280.4K
$245.4K – $327.2K
NOI $19,631 @ 7.0% cap · market cap 4.92%
Second Best
Apartment 5plus
$262.5K
$229.7K – $306.3K
NOI $18,375 @ 7.0% cap · market cap 4.61%
Theoretical Best
Office A
$710.2K
$621.5K – $828.6K
NOI $49,717 @ 7.0% cap · market cap 12.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
11
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 income property with separate three-bedroom units, deck space, and a level lot in the Kimberly School District.
Where is this duplex located?
The property is located at N9689 Gina Drive Appleton, WI.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,576 square feet; Each unit has 3 bedrooms and 1.5 baths; 2‑car attached garage on each side
