Updated Duplex
New
For Sale
$209,900
1605 Yout St, Racine, WI 53404
Both units received updates in 2023 and are occupied.
Property Size1,805 SF
Price / SF$116.29
Days on Market4
Property Features for 1605 Yout St
General Information
Standard status
Active
Size
1,805 SF
Property subtype
Multi-Family
Building Details
Year Built
1928
Listing Agency:
Keller Williams Milwaukee North Shore
Listed By:
Realty Executives Southeast
(262) 443-0030
Source:
Therealestatestudiowi
Added: Sep 1
Changed: Sep 3
Last Checked: Sep 2 at 4:55PM
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 Milwaukee North Shore
Investment Insights
Based on property information with market context.
This two-unit residential property was built in 1928 and includes 1,805 in reported property size. Each unit was updated during 2023, and both are occupied. Residents are responsible for water, sewer, and gas used for heating and cooking.
Located on Yout St in Racine’s north side, the duplex offers an established residential setting with an existing tenant base. The property’s two-unit configuration supports continued income-producing use for an owner or investor.
Located on Yout St in Racine’s north side, the duplex offers an established residential setting with an existing tenant base. The property’s two-unit configuration supports continued income-producing use for an owner or investor.
Key Highlights
- Both units received updates in 2023 and are occupied
- Tenants pay water, sewer, and gas for heating and cooking
- 1,805 reported property size
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
$17,155
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
8.17%
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%
$343,100
$343.1K
Cap Rate 7%
$245,071
$245.1K
Cap Rate 9%
$190,611
$190.6K
Market Conditions
NOI Build-Up for 1,805 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
$32.5K $18.00/SF
− Vacancy
−$1.3K −$0.72/SF
EGI
$31.2K $17.28/SF
− OpEx
−$14.0K −$7.78/SF
NOI
$17.2K $9.50/SF
Area
Racine County, WI
Vacancy
4.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
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%
$343,100
Cap Rate 7%
$245,071
Cap Rate 9%
$190,611
Alternative Uses
Best Use
Multifamily LT 5
$281.3K
$246.1K – $328.2K
NOI $19,691 @ 7.0% cap · market cap 9.38%
Second Best
Apartment 5plus
$245.1K
$214.4K – $285.9K
NOI $17,155 @ 7.0% cap · market cap 8.17%
Theoretical Best
Office A
$434.1K
$379.8K – $506.4K
NOI $30,385 @ 7.0% cap · market cap 14.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
625
Businesses Nearby
Explore this area
Business Placement
Demographics for 53404, WI
15,532
Population
5,110
Households
3
Avg Household Size
32
Median Age
13%
College-Educated
82%
High-School Grad
4.9 sq mi
ZIP Area
3,170
Density / Sq Mi
$47,714
Median Household Income
$35,419
Median Earnings
$968
Median Rent
$126,800
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 units received updates in 2023 and are occupied.
Where is this duplex located?
The property is located at 1605 Yout St Racine, WI.
What is the asking price?
The asking price for this property is $209,900.
What are key features of this property?
This property features: Both units received updates in 2023 and are occupied; Tenants pay water, sewer, and gas for heating and cooking; 1,805 reported property size
