Two-Unit Duplex with
New
For Sale
$225,000
2055 Case Avenue, Racine, WI 53403
Separate entrances and garage parking serve both residences, including a private entry for the upper unit.
Property Size2,009 SF
Price / SF$111
Days on Market7
Property Features for 2055 Case Avenue
General Information
Standard status
Active
Size
2,009 SF
Total Parking Spaces
3
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
1 x 3BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,296
Building Details
Tenancy
Multi
Listing Agency:
Cove Realty, LLC
(262) 658-8030
Listed By:
Charlene Nikolai · License #8290594
(262) 909-8106
Source:
Exprealty
Added: Oct 9
Changed: Oct 15
Last Checked: Oct 15 at 2:17AM
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 Cove Realty, LLC
Investment Insights
Based on property information with market context.
This Racine duplex contains approximately 2,009 square feet across two residences. The main-floor unit has three bedrooms, one bath and an attached two-car garage. Above the garage, the one-bedroom, one-bath upper unit has a private entrance and its own one-car garage.
Both units are leased through 2027. Improvements include replacement furnaces and water heaters in 2017 and 2018, a new roof on the main home and single-car garage in 2022, and lower-unit air conditioning installed in 2024. New exterior stairs serving the upper unit were added in 2023. The property occupies a corner lot with a limited yard.
Both units are leased through 2027. Improvements include replacement furnaces and water heaters in 2017 and 2018, a new roof on the main home and single-car garage in 2022, and lower-unit air conditioning installed in 2024. New exterior stairs serving the upper unit were added in 2023. The property occupies a corner lot with a limited yard.
Key Highlights
- Two residences totaling approximately 2,009 square feet
- Main‑floor unit: 3 bedrooms, 1 bath and attached 2‑car garage
- Upper unit: 1 bedroom, 1 bath, private entrance and 1‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,094
Cap Rate
8.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$381,880
$381.9K
Cap Rate 7%
$272,771
$272.8K
Cap Rate 9%
$212,156
$212.2K
Market Conditions
NOI Build-Up for 2,009 SF
Gross rent
$36.2K $18.00/SF
− Vacancy
−$1.4K −$0.72/SF
EGI
$34.7K $17.28/SF
− OpEx
−$15.6K −$7.78/SF
NOI
$19.1K $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 Rate 5%
$381,880
Cap Rate 7%
$272,771
Cap Rate 9%
$212,156
Alternative Uses
Best Use
Multifamily LT 5
$313.1K
$274.0K – $365.3K
NOI $21,916 @ 7.0% cap · market cap 9.74%
Second Best
Apartment 5plus
$272.8K
$238.7K – $318.2K
NOI $19,094 @ 7.0% cap · market cap 8.49%
Theoretical Best
Office A
$483.1K
$422.7K – $563.7K
NOI $33,819 @ 7.0% cap · market cap 15.03%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
498
Businesses Nearby
Explore this area
Business Placement
Demographics for 53403, WI
26,269
Population
11,876
Households
2.2
Avg Household Size
38
Median Age
23%
College-Educated
88%
High-School Grad
10.2 sq mi
ZIP Area
2,575
Density / Sq Mi
$58,274
Median Household Income
$37,130
Median Earnings
$1,029
Median Rent
$159,100
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 - Separate entrances and garage parking serve both residences, including a private entry for the upper unit.
Where is this duplex located?
The property is located at 2055 Case Avenue Racine, WI.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Two residences totaling approximately 2,009 square feet; Main‑floor unit: 3 bedrooms, 1 bath and attached 2‑car garage; Upper unit: 1 bedroom, 1 bath, private entrance and 1‑car garage
