Upgraded Four-Unit
For Sale
$300,000
1220 N Wisconsin St, Racine, WI 53402
Four residential units with varied layouts and extensive recent improvements near major Racine destinations and public transit.
Property Size2,018 SF
Price / SF$148.66
Days on Market48
Property Features for 1220 N Wisconsin St
General Information
Standard status
Active
Size
2,018 SF
Property subtype
Multi-Family
Units
Unit Mix
2-bedroom, 1-bedroom, large efficiency, small efficiency
Multifamily Units
4
Additional Details
Public Transit
Yes
Building Details
Year Built
1887
Listing Agency:
Keller Williams Realty-Milwaukee Southwest
Listed By:
Reliance Real Estate Team* · License #7602394
(414) 659-6965
Source:
Nikolicgroup
Added: Sep 5
Changed: Oct 14
Last Checked: Oct 7 at 1:18PM
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 Realty-Milwaukee Southwest
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This four-unit residential property includes a two-bedroom apartment, a one-bedroom apartment, a large efficiency, and a small efficiency. Improvements include replacement windows, refreshed kitchens and bathrooms, updated flooring, exterior and porch painting, chimney tuckpointing, foundation sealing, plumbing repairs, and new gutters. The property was built in 1887 and is located at 1220 N Wisconsin St in Racine.
The location places residents near Lake Michigan, the Root River, Downtown Racine, and public transit, providing access to nearby recreational, civic, and transportation amenities.
The location places residents near Lake Michigan, the Root River, Downtown Racine, and public transit, providing access to nearby recreational, civic, and transportation amenities.
Key Highlights
- Four‑unit property with a 2‑bedroom, 1‑bedroom, large efficiency, and small efficiency
- Extensive updates include new windows, refreshed kitchens and bathrooms, and updated flooring
- Exterior improvements include fresh paint, porch work, chimney tuckpointing, and new gutters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,015
Cap Rate
7.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$440,300
$440.3K
Cap Rate 7%
$314,500
$314.5K
Cap Rate 9%
$244,611
$244.6K
Market Conditions
NOI Build-Up for 2,018 SF
Gross rent
$32.7K $16.20/SF
− Vacancy
−$1.2K −$0.62/SF
EGI
$31.4K $15.58/SF
− OpEx
−$9.4K −$4.68/SF
NOI
$22.0K $10.91/SF
Area
Racine County, WI
Vacancy
3.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$440,300
Cap Rate 7%
$314,500
Cap Rate 9%
$244,611
Alternative Uses
Best Use
Multifamily LT 5
$314.5K
$275.2K – $366.9K
NOI $22,015 @ 7.0% cap · market cap 7.34%
Second Best
Apartment 5plus
$274.0K
$239.7K – $319.7K
NOI $19,179 @ 7.0% cap · market cap 6.39%
Theoretical Best
Office A
$485.3K
$424.6K – $566.2K
NOI $33,970 @ 7.0% cap · market cap 11.32%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Contact the owner directly
Get the owner's phone numbers and email
Open Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
823
Businesses Nearby
Explore this area
Business Placement
Demographics for 53402, WI
33,621
Population
15,660
Households
2.1
Avg Household Size
41
Median Age
33%
College-Educated
92%
High-School Grad
20.0 sq mi
ZIP Area
1,681
Density / Sq Mi
$74,125
Median Household Income
$47,838
Median Earnings
$1,049
Median Rent
$224,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units with varied layouts and extensive recent improvements near major Racine destinations and public transit.
Where is this quadplex located?
The property is located at 1220 N Wisconsin St Racine, WI.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Four‑unit property with a 2‑bedroom, 1‑bedroom, large efficiency, and small efficiency; Extensive updates include new windows, refreshed kitchens and bathrooms, and updated flooring; Exterior improvements include fresh paint, porch work, chimney tuckpointing, and new gutters
