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Property profile & analytics
OFF-MARKET
Estimated value
$1,450,000
Apartment buildings
1523 16th St Two Rivers, WI 54241-3010
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US92-2399903
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1991
Total area
31,204 SF
Lot
0.9 ac (39,030 SF)
Zoning code
PUD
APN
53-000-072-051.07
UPID
US92-2399903
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Two Rivers River House Apartments Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.45M
Owner & transaction history
Manitowoc Apartments LLC · 1 yrs held
Manitowoc Apartments LLC
since 2025
Last sale
$1.6M
1 recorded transaction
Zoning & alternative use
PUD · Two Rivers, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Two Rivers submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Two Rivers submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$46 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$23,916
Tax year 2023
Assessed value
$881,100
Assessed 2023
Previous assessed
$881,100
+0.0% YoY
Effective rate
2.71%
On assessed value
Assessed land
$37,500
Assessed improvement
$843,600
Total market value
$1,398,200
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1991
Heating
HOT WATER
Cooling
NONE
Buildings
1
Stories
3
Units
24
Rooms
86
Total area
31,204 SF
Lot
0.9 ac (39,030 SF)
Zoning code
PUD
APN
53-000-072-051.07
UPID
US92-2399903
Jurisdiction
MANITOWOC
Zoning & alternative use
PUD · Two Rivers, WI
Zoning PUD · permitted uses
PUD · Two Rivers, WI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Two Rivers. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1991
Heating
HOT WATER
Cooling
Yes
Stories
3
Buildings
1
Units
24
Rooms
86
Lot
0.9 ac
Current owner
From public records · entity-resolved
Manitowoc Apartments LLC
Entity
Mailing address
5160 EXPO DR #100, MANITOWOC, WI 54220-8332
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 4, 2025
$1,648,000
Manitowoc Apartments LLC
Two Rivers River House LP
Warranty Deed
$2,557,310 · Bank Of Oakfield
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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