Two-Unit Duplex with
For Sale
$269,000
602 46th St, Kenosha, WI 53140
Each residence offers private laundry, newer flooring, and access to a fenced yard adjoining the garage.
Property Size2,000 SF
Price / SF$134.50
Days on Market10
Property Features for 602 46th St
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Multi-Family
Building Details
Year Built
1898
Listing Agency:
Keller Williams Realty-Milwaukee Southwest
(262) 443-0030
Listed By:
Realty Executives Southeast
(262) 443-0030
Source:
Therealestatestudiowi
Added: Aug 20
Changed: Aug 29
Last Checked: Aug 26 at 12:59PM
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 Keller Williams Realty-Milwaukee Southwest
Investment Insights
Based on property information with market context.
Located at 602 46th St in Kenosha, this 2,000-square-foot duplex contains two residential units with practical features for occupants. Laundry is provided within both units, while newer flooring has been installed in the upper and lower residences. The upper unit also includes its furnace within the living space.
The property was built in 1898 and sits near the lake. A fenced yard is attached to the garage, adding dedicated outdoor space and useful storage or parking functionality. The property is subject to an easement involving a shared drive, and the owner prefers a sale together with the separately listed property at 516 46th St because of that access arrangement.
The property was built in 1898 and sits near the lake. A fenced yard is attached to the garage, adding dedicated outdoor space and useful storage or parking functionality. The property is subject to an easement involving a shared drive, and the owner prefers a sale together with the separately listed property at 516 46th St because of that access arrangement.
Key Highlights
- 2,000‑square‑foot duplex with two residential units
- Laundry located in each unit
- Newer flooring in both upper and lower units
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
$19,740
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
7.34%
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%
$394,800
$394.8K
Cap Rate 7%
$282,000
$282.0K
Cap Rate 9%
$219,333
$219.3K
Market Conditions
NOI Build-Up for 2,000 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
$30.0K $15.00/SF
− Vacancy
−$1.8K −$0.90/SF
EGI
$28.2K $14.10/SF
− OpEx
−$8.5K −$4.23/SF
NOI
$19.7K $9.87/SF
Area
Kenosha County, WI
Vacancy
6.00%
Lease Rate
$15.00 /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%
$394,800
Cap Rate 7%
$282,000
Cap Rate 9%
$219,333
Alternative Uses
Best Use
Multifamily LT 5
$282.0K
$246.8K – $329.0K
NOI $19,740 @ 7.0% cap · market cap 7.34%
Second Best
Apartment 5plus
$261.1K
$228.5K – $304.7K
NOI $18,279 @ 7.0% cap · market cap 6.80%
Theoretical Best
Warehouse
$2.33M
$2.04M – $2.72M
NOI $162,992 @ 7.0% cap · market cap 60.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
482
Businesses Nearby
Explore this area
Business Placement
Demographics for 53140, WI
30,571
Population
14,065
Households
2.2
Avg Household Size
36
Median Age
28%
College-Educated
90%
High-School Grad
7.9 sq mi
ZIP Area
3,870
Density / Sq Mi
$56,803
Median Household Income
$34,154
Median Earnings
$1,018
Median Rent
$191,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Each residence offers private laundry, newer flooring, and access to a fenced yard adjoining the garage.
Where is this duplex located?
The property is located at 602 46th St Kenosha, WI.
What is the asking price?
The asking price for this property is $269,000.
What are key features of this property?
This property features: 2,000‑square‑foot duplex with two residential units; Laundry located in each unit; Newer flooring in both upper and lower units
