Brick Duplex with Updated
New
For Sale
$389,000
1517 Monroe St, West Bend, WI 53090
Two-bedroom units feature remodeled kitchens, basement laundry areas, outdoor porches, and a one-car garage.
Property Size2,032 SF
Price / SF$191.44
Days on Market7
Property Features for 1517 Monroe St
General Information
Standard status
Active
Size
2,032 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,691
Amenities
laundry area
deck/porch
Building Details
Buildings
1
Construction
brick
Listing Agency:
Martin Real Estate
(920) 248-2622
Listed By:
Michael Martin · License #11019894
(920) 248-2622
Source:
Exprealty
Added: Aug 26
Changed: Aug 31
Last Checked: Aug 31 at 6:00PM
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 Martin Real Estate
Investment Insights
Based on property information with market context.
This 2,032-square-foot brick duplex at 1517 Monroe St in West Bend, WI, includes two residential units with matching two-bedroom layouts. Each unit has a living room, dining room, bathroom with a large shower stall, built-in cabinetry, and detailed woodwork. Kitchens include solid-surface countertops, an oven, refrigerator, dishwasher, microwave, and garbage disposal.
Improvements completed in 2020 include windows, AC units, appliances, and interior remodeling. Both units also provide laundry areas in the basement and front and rear decks or porches. The property includes a one-car garage.
Improvements completed in 2020 include windows, AC units, appliances, and interior remodeling. Both units also provide laundry areas in the basement and front and rear decks or porches. The property includes a one-car garage.
Key Highlights
- 2,032‑square‑foot brick duplex at 1517 Monroe St, West Bend, WI
- Two units, each with 2 bedrooms, living room, dining room, and bathroom
- 2020 improvements include windows, AC units, appliances, and interior remodeling
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
$21,545
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
5.54%
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%
$430,900
$430.9K
Cap Rate 7%
$307,786
$307.8K
Cap Rate 9%
$239,389
$239.4K
Market Conditions
NOI Build-Up for 2,032 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
$32.9K $16.20/SF
− Vacancy
−$2.1K −$1.05/SF
EGI
$30.8K $15.15/SF
− OpEx
−$9.2K −$4.54/SF
NOI
$21.5K $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%
$430,900
Cap Rate 7%
$307,786
Cap Rate 9%
$239,389
Alternative Uses
Best Use
Multifamily LT 5
$307.8K
$269.3K – $359.1K
NOI $21,545 @ 7.0% cap · market cap 5.54%
Second Best
Apartment 5plus
$276.1K
$241.6K – $322.2K
NOI $19,329 @ 7.0% cap · market cap 4.97%
Theoretical Best
Office A
$558.6K
$488.8K – $651.7K
NOI $39,104 @ 7.0% cap · market cap 10.05%
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
270
Businesses Nearby
Explore this area
Business Placement
Demographics for 53090, WI
21,478
Population
9,247
Households
2.3
Avg Household Size
43
Median Age
29%
College-Educated
95%
High-School Grad
57.9 sq mi
ZIP Area
371
Density / Sq Mi
$87,786
Median Household Income
$49,156
Median Earnings
$1,132
Median Rent
$267,500
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 - Two-bedroom units feature remodeled kitchens, basement laundry areas, outdoor porches, and a one-car garage.
Where is this duplex located?
The property is located at 1517 Monroe St West Bend, WI.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: 2,032‑square‑foot brick duplex at 1517 Monroe St, West Bend, WI; Two units, each with 2 bedrooms, living room, dining room, and bathroom; 2020 improvements include windows, AC units, appliances, and interior remodeling
