Duplex with Private
New
For Sale
$255,000
177 E Washington St, West Bend, WI 53095
Two separate residences offer a one-bedroom lower layout and a two-bedroom upper unit near downtown West Bend.
Property Size840 SF
Price / SF$303.57
Days on Market2
Property Features for 177 E Washington St
General Information
Standard status
Active
Size
840 SF
Total Parking Spaces
5
Property subtype
Multi-Family
Units
Unit Mix
1 x 1BR, 1 x 2BR
Multifamily Units
2
Building Details
Year Built
1924
Buildings
1
Listing Agency:
Coldwell Banker Homesale Realty - Wauwatosa
Listed By:
Realty Executives Southeast
(262) 443-0030
Source:
Therealestatestudiowi
Added: Sep 26
Last Checked: Sep 26 at 2:50PM
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 Homesale Realty - Wauwatosa
Investment Insights
Based on property information with market context.
Built in 1924, this duplex has two distinct living spaces. The first-floor residence includes one bedroom, a living area, formal dining room, and eat-in kitchen. Upstairs, the second unit has two bedrooms and a private rear balcony. The property also provides three surface parking spaces and two garage stalls.
The address is near downtown West Bend, the Riverwalk, and local amenities. The layout may also be returned to single-family use, as described in the property information.
The address is near downtown West Bend, the Riverwalk, and local amenities. The layout may also be returned to single-family use, as described in the property information.
Key Highlights
- Two‑unit configuration: one‑bedroom first‑floor residence and two‑bedroom upper unit
- Lower unit includes a living area, formal dining room, and eat‑in kitchen
- Private rear balcony serves the upper unit
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
$8,906
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
3.49%
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%
$178,120
$178.1K
Cap Rate 7%
$127,229
$127.2K
Cap Rate 9%
$98,956
$99.0K
Market Conditions
NOI Build-Up for 840 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
$13.6K $16.20/SF
− Vacancy
−$885 −$1.05/SF
EGI
$12.7K $15.15/SF
− OpEx
−$3.8K −$4.54/SF
NOI
$8.9K $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%
$178,120
Cap Rate 7%
$127,229
Cap Rate 9%
$98,956
Alternative Uses
Best Use
Multifamily LT 5
$127.2K
$111.3K – $148.4K
NOI $8,906 @ 7.0% cap · market cap 3.49%
Second Best
Apartment 5plus
$114.1K
$99.9K – $133.2K
NOI $7,990 @ 7.0% cap · market cap 3.13%
Theoretical Best
Office A
$230.9K
$202.1K – $269.4K
NOI $16,165 @ 7.0% cap · market cap 6.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
804
Businesses Nearby
Explore this area
Business Placement
Demographics for 53095, WI
27,269
Population
12,741
Households
2.1
Avg Household Size
45
Median Age
32%
College-Educated
96%
High-School Grad
70.4 sq mi
ZIP Area
387
Density / Sq Mi
$82,219
Median Household Income
$49,779
Median Earnings
$1,015
Median Rent
$286,500
Median Home Value
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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 separate residences offer a one-bedroom lower layout and a two-bedroom upper unit near downtown West Bend.
Where is this duplex located?
The property is located at 177 E Washington St West Bend, WI.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: Two‑unit configuration: one‑bedroom first‑floor residence and two‑bedroom upper unit; Lower unit includes a living area, formal dining room, and eat‑in kitchen; Private rear balcony serves the upper unit
