Duplex with Two-Bedroom
For Sale
$259,900
128 N 9th Ave, West Bend, WI 53095
Both residences are fully leased at market rate and professionally managed.
Property Size1,714 SF
Price / SF$151.63
Days on Market43
Property Features for 128 N 9th Ave
General Information
Standard status
Active
Size
1,714 SF
Property subtype
Residential Income
Occupancy
100%
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,848
Building Details
Buildings
1
Listing Agency:
WIBROKER Realty
(262) 255-5565
Listed By:
Dale Bergman · License #8281
(262) 255-5565
Source:
Exprealty
Added: Jun 29
Changed: Aug 9
Last Checked: Aug 10 at 9:41AM
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 WIBROKER Realty
Investment Insights
Based on property information with market context.
This 1714-square-foot duplex contains two-bedroom units and has a roof that was replaced, with the replacement year omitted due to conflicting source information. Both furnaces are less than 10 years old, providing established mechanical updates for the building.
The property is fully rented at market rate and professionally managed. Located at 128 N 9th Ave in West Bend, Wisconsin, it offers an existing residential income configuration with active tenancy and third-party management in place.
The property is fully rented at market rate and professionally managed. Located at 128 N 9th Ave in West Bend, Wisconsin, it offers an existing residential income configuration with active tenancy and third-party management in place.
Key Highlights
- 1714 SF duplex with two‑bedroom units
- Fully rented at market rate
- Professionally managed property
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
$18,173
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
6.99%
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%
$363,460
$363.5K
Cap Rate 7%
$259,614
$259.6K
Cap Rate 9%
$201,922
$201.9K
Market Conditions
NOI Build-Up for 1,714 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
$27.8K $16.20/SF
− Vacancy
−$1.8K −$1.05/SF
EGI
$26.0K $15.15/SF
− OpEx
−$7.8K −$4.54/SF
NOI
$18.2K $10.60/SF
Area
Washington County, WI
Vacancy
6.50%
Lease Rate
$16.20 /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%
$363,460
Cap Rate 7%
$259,614
Cap Rate 9%
$201,922
Alternative Uses
Best Use
Multifamily LT 5
$259.6K
$227.2K – $302.9K
NOI $18,173 @ 7.0% cap · market cap 6.99%
Second Best
Apartment 5plus
$232.9K
$203.8K – $271.7K
NOI $16,304 @ 7.0% cap · market cap 6.27%
Theoretical Best
Office A
$471.2K
$412.3K – $549.7K
NOI $32,984 @ 7.0% cap · market cap 12.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
810
Businesses Nearby
Explore this area
Business Placement
Demographics for 53095, WI
27,269
Population
12,741
Households
2.1
Avg Household Size
45
Median Age
32%
College-Educated
96%
High-School Grad
70.4 sq mi
ZIP Area
387
Density / Sq Mi
$82,219
Median Household Income
$49,779
Median Earnings
$1,015
Median Rent
$286,500
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 - Both residences are fully leased at market rate and professionally managed.
Where is this duplex located?
The property is located at 128 N 9th Ave West Bend, WI.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: 1714 SF duplex with two‑bedroom units; Fully rented at market rate; Professionally managed property
