Three-Unit Residential Income
For Sale
$369,900
2010 Division Street, East Troy, WI 53120
Well-maintained triplex with private entrances, in-unit laundry, and multiple units offering off-street parking.
Property Size2,526 SF
Price / SF$146.44
Days on Market175
Property Features for 2010 Division Street
General Information
Standard status
Active
Size
2,526 SF
Property subtype
Multi-Family / Multi-Family
Additional Details
Multifamily Units
3
Amenities
private entrances
in-unit laundry
private basement access
parking
Laundry Facilities, Block, Yes
Low Maintenance Trim, Vinyl, Wood
Building Details
Year Built
1910
Tenancy
Multi
Listing Agency:
RE/MAX Lakeside-Central
Listed By:
Brian R. Paul · License #56081-90
(414) 350-5525
Source:
Compass
Added: Mar 18
Changed: Aug 8
Last Checked: Jul 23 at 3:18AM
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 Lakeside-Central
Investment Insights
Based on property information with market context.
This well-maintained three-unit triplex includes private entrances and in-unit laundry for all units. Unit A offers 1 bedroom and 1 bathroom with an eat-in kitchen, abundant cabinetry, updated flooring, and an air-conditioning unit. Units B and C each offer 2 bedrooms and 1 bathroom with an eat-in kitchen. Units A and C also have private basement access.
The property is ideally located in the Village, just steps from the Historical Square, with easy access to local shops, dining, and events.
Exterior and interior updates noted include newer cabinetry in Unit C and most windows updated throughout the building. Numerous exterior improvements have been completed, including gutters, soffit/fascia, downspouts, new concrete sidewalk and patio, reconstructed front patio overhang, and chimney repair and sealing.
The property is ideally located in the Village, just steps from the Historical Square, with easy access to local shops, dining, and events.
Exterior and interior updates noted include newer cabinetry in Unit C and most windows updated throughout the building. Numerous exterior improvements have been completed, including gutters, soffit/fascia, downspouts, new concrete sidewalk and patio, reconstructed front patio overhang, and chimney repair and sealing.
Key Highlights
- Well‑maintained 3‑family (triplex) built in 1910 with three separate units
- Multiple units with private entrances and in‑unit laundry; basement has laundry facilities with block construction
- Unit A: 1 bed, 1 bath with an eat‑in kitchen and updated flooring; only unit with A/C
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
$27,213
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
7.36%
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%
$544,260
$544.3K
Cap Rate 7%
$388,757
$388.8K
Cap Rate 9%
$302,367
$302.4K
Market Conditions
NOI Build-Up for 2,526 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
$40.9K $16.20/SF
− Vacancy
−$2.0K −$0.81/SF
EGI
$38.9K $15.39/SF
− OpEx
−$11.7K −$4.62/SF
NOI
$27.2K $10.77/SF
Area
Walworth County, WI
Vacancy
5.00%
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%
$544,260
Cap Rate 7%
$388,757
Cap Rate 9%
$302,367
Alternative Uses
Best Use
Multifamily LT 5
$388.8K
$340.2K – $453.6K
NOI $27,213 @ 7.0% cap · market cap 7.36%
Second Best
Apartment 5plus
$361.6K
$316.4K – $421.9K
NOI $25,315 @ 7.0% cap · market cap 6.84%
Theoretical Best
Specialty Retail
$487.5K
$426.6K – $568.7K
NOI $34,124 @ 7.0% cap · market cap 9.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
256
Businesses Nearby
Explore this area
Business Placement
Demographics for 53120, WI
10,024
Population
4,847
Households
2.1
Avg Household Size
45
Median Age
35%
College-Educated
96%
High-School Grad
56.5 sq mi
ZIP Area
177
Density / Sq Mi
$93,397
Median Household Income
$52,521
Median Earnings
$1,425
Median Rent
$310,100
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?
Triplex - Well-maintained triplex with private entrances, in-unit laundry, and multiple units offering off-street parking.
Where is this triplex located?
The property is located at 2010 Division Street East Troy, WI.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: Well‑maintained 3‑family (triplex) built in 1910 with three separate units; Multiple units with private entrances and in‑unit laundry; basement has laundry facilities with block construction; Unit A: 1 bed, 1 bath with an eat‑in kitchen and updated flooring; only unit with A/C
