Brick Duplex with Two-Car
For Sale
$590,000
1606 E Newton Ave, Shorewood, WI 53211
Two-unit brick property with lower-level living space, an unfinished attic, and off-street parking.
Property Size2,672 SF
Price / SF$220.81
Days on Market9
Property Features for 1606 E Newton Ave
General Information
Standard status
Active
Size
2,672 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1927
Construction
brick
Listing Agency:
Shorewest Realtors, Inc.
Listed By:
Avenue Real Estate
(920) 893-3001
Source:
Avenueret
Added: Sep 19
Changed: Sep 26
Last Checked: Sep 26 at 6:35AM
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 Shorewest Realtors, Inc.
Investment Insights
Based on property information with market context.
Built in 1927, this 2,672-square-foot brick duplex includes two separate units, each arranged with 2 bedrooms, 1 full bath, and generous living space. The lower apartment includes an updated bathroom. Additional interior area is provided by a basement with a full bath and living area, while the unfinished attic can serve as storage or support future expansion.
The property is located at 1606 E Newton Ave in Shorewood, Wisconsin. A 2-car garage and ample off-street parking support resident convenience. The two-unit configuration, added lower-level space, and existing garage make the property suitable for an owner-occupant or investor seeking rental income.
The property is located at 1606 E Newton Ave in Shorewood, Wisconsin. A 2-car garage and ample off-street parking support resident convenience. The two-unit configuration, added lower-level space, and existing garage make the property suitable for an owner-occupant or investor seeking rental income.
Key Highlights
- 2,672‑square‑foot brick duplex built in 1927
- Two units, each with 2 bedrooms and 1 full bath
- Lower unit includes an updated bathroom
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
$28,634
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
4.85%
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%
$572,680
$572.7K
Cap Rate 7%
$409,057
$409.1K
Cap Rate 9%
$318,156
$318.2K
Market Conditions
NOI Build-Up for 2,672 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
$43.3K $16.20/SF
− Vacancy
−$2.4K −$0.89/SF
EGI
$40.9K $15.31/SF
− OpEx
−$12.3K −$4.59/SF
NOI
$28.6K $10.72/SF
Area
Milwaukee County, WI
Vacancy
5.50%
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%
$572,680
Cap Rate 7%
$409,057
Cap Rate 9%
$318,156
Alternative Uses
Best Use
Multifamily LT 5
$409.1K
$357.9K – $477.2K
NOI $28,634 @ 7.0% cap · market cap 4.85%
Second Best
Apartment 5plus
$365.4K
$319.7K – $426.3K
NOI $25,579 @ 7.0% cap · market cap 4.34%
Theoretical Best
Office A
$633.6K
$554.4K – $739.2K
NOI $44,354 @ 7.0% cap · market cap 7.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,109
Businesses Nearby
Explore this area
Business Placement
Demographics for 53211, WI
36,327
Population
16,346
Households
2.2
Avg Household Size
29
Median Age
74%
College-Educated
98%
High-School Grad
4.0 sq mi
ZIP Area
9,082
Density / Sq Mi
$76,206
Median Household Income
$40,214
Median Earnings
$1,225
Median Rent
$413,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit brick property with lower-level living space, an unfinished attic, and off-street parking.
Where is this duplex located?
The property is located at 1606 E Newton Ave Shorewood, WI.
What is the asking price?
The asking price for this property is $590,000.
What are key features of this property?
This property features: 2,672‑square‑foot brick duplex built in 1927; Two units, each with 2 bedrooms and 1 full bath; Lower unit includes an updated bathroom
