Duplex with Refreshed
For Sale
$230,000
1506 68th St, Kenosha, WI 53143
Two-unit residential property with driveway parking and recent exterior porch improvements in Kenosha.
Property Size1,536 SF
Price / SF$149.74
Days on Market48
Property Features for 1506 68th St
General Information
Standard status
Active
Size
1,536 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$22,800
Public Transit
Yes
Building Details
Year Built
1916
Buildings
1
Listing Agency:
Coldwell Banker Realty
(224) 223-4219
Listed By:
Nichole Mueller
Source:
Jwregwi
Added: Jul 14
Changed: Aug 29
Last Checked: Aug 29 at 10:47PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This 1,536-square-foot duplex, built in 1916, contains two residential units with matching layouts of 2 bedrooms and 1 bathroom each. The property includes driveway parking and several recent porch improvements, including a new flat roof, new fascia and soffit, and fresh paint.
Located in Kenosha, the property sits near shopping, dining, and public transportation. Its two-unit configuration supports both rental and owner-occupant use, with each residence offering a practical two-bedroom layout.
Located in Kenosha, the property sits near shopping, dining, and public transportation. Its two-unit configuration supports both rental and owner-occupant use, with each residence offering a practical two-bedroom layout.
Key Highlights
- Two‑unit duplex with 1,536 square feet
- Both units feature 2 bedrooms and 1 bathroom
- Built in 1916
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
$15,160
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
6.59%
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%
$303,200
$303.2K
Cap Rate 7%
$216,571
$216.6K
Cap Rate 9%
$168,444
$168.4K
Market Conditions
NOI Build-Up for 1,536 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
$23.0K $15.00/SF
− Vacancy
−$1.4K −$0.90/SF
EGI
$21.7K $14.10/SF
− OpEx
−$6.5K −$4.23/SF
NOI
$15.2K $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%
$303,200
Cap Rate 7%
$216,571
Cap Rate 9%
$168,444
Alternative Uses
Best Use
Multifamily LT 5
$216.6K
$189.5K – $252.7K
NOI $15,160 @ 7.0% cap · market cap 6.59%
Second Best
Apartment 5plus
$200.5K
$175.5K – $234.0K
NOI $14,038 @ 7.0% cap · market cap 6.10%
Theoretical Best
Warehouse
$1.79M
$1.56M – $2.09M
NOI $125,178 @ 7.0% cap · market cap 54.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,002
Businesses Nearby
Explore this area
Business Placement
Demographics for 53143, WI
22,702
Population
9,118
Households
2.5
Avg Household Size
36
Median Age
23%
College-Educated
87%
High-School Grad
4.1 sq mi
ZIP Area
5,537
Density / Sq Mi
$67,105
Median Household Income
$40,276
Median Earnings
$1,157
Median Rent
$186,600
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 - Two-unit residential property with driveway parking and recent exterior porch improvements in Kenosha.
Where is this duplex located?
The property is located at 1506 68th St Kenosha, WI.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,536 square feet; Both units feature 2 bedrooms and 1 bathroom; Built in 1916
