Duplex with Easy Single-Family
120 South Washington Street Elkhorn, WI 53121
120 South Washington Street, Elkhorn, WI, 53121
$325,000
For Sale
$325,000
Duplex on a quarter-acre lot with easy conversion back to a single-family home.
Property Size2,100 SF
Price / SF$154.76
Days on Market69
Property Features for 120 South Washington Street
General Information
- Standard status
- Active
- Size
- 2,100 SF
- Property subtype
- Two-Family / Two Family
Building Details
- Year Built
- 1880
Listing agency
Keller Williams-MNS Wauwatosa
(262) 378-0655
Listed by
Megan M Thornton · License #115521-94
(262) 378-0655
Source
Compass
Added: May 15 Updated: Jul 22 at 1:55AM Checked: Jul 22 at 1:55AM
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 Keller Williams-MNS Wauwatosa
Investment Insights
Based on property information with market context.
This property is currently configured as a duplex and features generous outdoor space on a spacious quarter-acre lot. The layout also offers an easy ability to convert back to a single-family home, giving the flexibility to match different ownership goals.
Located in the heart of Elkhorn, the home is described as conveniently near downtown shopping, dining, parks, and schools.
Whether used as a duplex or converted to a single-family residence, the property is presented as ready for its next owner, with character and possibilities for customization.
Located in the heart of Elkhorn, the home is described as conveniently near downtown shopping, dining, parks, and schools.
Whether used as a duplex or converted to a single-family residence, the property is presented as ready for its next owner, with character and possibilities for customization.
Key Highlights
- Duplex home on a 0.25‑acre lot with an easy ability to convert back to a single‑family home
- 1880 build with brick and wood construction
- Two 2‑bedroom units (U1 and U2), each with 1 full bath
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $34.0k | $16.20 |
| − Vacancy | −$1.7k | −$0.81 |
| EGI | $32.3k | $15.39 |
| − OpEx | −$9.7k | −$4.62 |
| NOI | $22.6k | $10.77 |
2,100 SF · lease $16.20/SF/yr · vacancy 5.00% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$323.2K
$282.8K – $377.1K
NOI $22,623 @ 7.0% cap · market cap 6.96%
Second Best
Apartment 5plus
$300.7K
$263.1K – $350.8K
NOI $21,046 @ 7.0% cap · market cap 6.48%
Theoretical Best
Specialty Retail
$405.3K
$354.6K – $472.8K
NOI $28,369 @ 7.0% cap · market cap 8.73%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Duplex on a quarter-acre lot with easy conversion back to a single-family home.
Where is this duplex located?
The property is located at 120 South Washington Street Elkhorn, WI.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Duplex home on a 0.25‑acre lot with an easy ability to convert back to a single‑family home; 1880 build with brick and wood construction; Two 2‑bedroom units (U1 and U2), each with 1 full bath
