Three-Bedroom
For Sale
$300,000
1532 Banks Ave, Superior, WI 54880
Separate utility service and a full poured-concrete basement serve this two-unit property.
Property Size2,992 SF
Days on Market12
Property Features for 1532 Banks Ave
General Information
Standard status
Active
Size
2,992 SF
Property subtype
Duplex
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$1,111
Building Details
Building Size
2,992 SF
Year Built
1890
Buildings
1
Construction
Victorian
Listing Agency:
RE/MAX Results
Listed By:
Tom Acton · License #40200615|WI67860-94
(218) 310-8859
Source:
Visionsfirstrealty
Added: Oct 13
Changed: Oct 23
Last Checked: Oct 23 at 3:23AM
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 RE/MAX Results
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Investment Insights
Based on property information with market context.
Built in 1890, this duplex contains two three-bedroom units, each with hardwood floors, an eat-in kitchen, a pantry, and a built-in china cabinet. Bedrooms and a full bathroom are situated on the upper floor in both units. The owner-occupied side also has a main-level half bath; the other unit does not. A full poured-concrete basement and separate utilities for each side are additional features. Some windows have been replaced, while original windows remain. The owner’s kitchen includes a refrigerator, gas stove, microwave, and dishwasher; the tenant-side kitchen has not been updated.
The property is at 1532 Banks Ave in Superior, Wisconsin. Fiber-optic internet installation is underway along the street.
The property is at 1532 Banks Ave in Superior, Wisconsin. Fiber-optic internet installation is underway along the street.
Key Highlights
- Two units, each with 3 bedrooms and a full bathroom
- Built in 1890
- Full poured‑concrete basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,938
Cap Rate
8.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$498,760
$498.8K
Cap Rate 7%
$356,257
$356.3K
Cap Rate 9%
$277,089
$277.1K
Market Conditions
NOI Build-Up for 2,992 SF
Gross rent
$37.7K $12.60/SF
− Vacancy
−$2.1K −$0.69/SF
EGI
$35.6K $11.91/SF
− OpEx
−$10.7K −$3.57/SF
NOI
$24.9K $8.33/SF
Area
Douglas County, WI
Vacancy
5.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$498,760
Cap Rate 7%
$356,257
Cap Rate 9%
$277,089
Alternative Uses
Best Use
Multifamily LT 5
$356.3K
$311.7K – $415.6K
NOI $24,938 @ 7.0% cap · market cap 8.31%
Second Best
Apartment 5plus
$313.6K
$274.4K – $365.8K
NOI $21,949 @ 7.0% cap · market cap 7.32%
Theoretical Best
Specialty Retail
$943.4K
$825.4K – $1.10M
NOI $66,035 @ 7.0% cap · market cap 22.01%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
906
Businesses Nearby
Explore this area
Business Placement
Demographics for 54880, WI
30,400
Population
14,325
Households
2.1
Avg Household Size
39
Median Age
28%
College-Educated
94%
High-School Grad
166.1 sq mi
ZIP Area
183
Density / Sq Mi
$66,942
Median Household Income
$40,813
Median Earnings
$901
Median Rent
$176,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Separate utility service and a full poured-concrete basement serve this two-unit property.
Where is this duplex located?
The property is located at 1532 Banks Ave Superior, 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: Two units, each with 3 bedrooms and a full bathroom; Built in 1890; Full poured‑concrete basement
