Updated Duplex with
New
For Sale
$250,000
2142 Clarence Ave, Racine, WI 53405
Two units feature fenced outdoor areas and maple hardwood flooring.
Property Size1,980 SF
Price / SF$126.26
Days on Market3
Property Features for 2142 Clarence Ave
General Information
Standard status
Active
Size
1,980 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
fenced yard
patios
deck
porch
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Home Team Real Estate Group LLC
(414) 334-4163
Listed By:
Connie Magee · License #6056794
Source:
Jwregwi
Added: Aug 30
Changed: Aug 31
Last Checked: Aug 31 at 7:17PM
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 Home Team Real Estate Group LLC
Investment Insights
Based on property information with market context.
This duplex, built in 1900, offers 1,980 square feet across two units. Interior character includes maple hardwood floors, while each unit has its own fenced backyard. Exterior improvements include patios updated in 2020, replacement of the upper deck and lower porch stairs in 2019, and vinyl siding installed in 2013. Most windows are newer, and the roof is also described as newer. Water heaters were replaced in 2018 and 2019.
The property includes a two-car garage along with additional parking. Located at 2142 Clarence Ave in Racine, Wisconsin, the duplex combines separate outdoor areas with multiple documented exterior and mechanical updates.
The property includes a two-car garage along with additional parking. Located at 2142 Clarence Ave in Racine, Wisconsin, the duplex combines separate outdoor areas with multiple documented exterior and mechanical updates.
Key Highlights
- 1,980‑square‑foot duplex built in 1900
- Maple hardwood floors in both units
- Separate fenced backyard for each 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
$21,600
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
8.64%
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%
$432,000
$432.0K
Cap Rate 7%
$308,571
$308.6K
Cap Rate 9%
$240,000
$240.0K
Market Conditions
NOI Build-Up for 1,980 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
$32.1K $16.20/SF
− Vacancy
−$1.2K −$0.62/SF
EGI
$30.9K $15.58/SF
− OpEx
−$9.3K −$4.68/SF
NOI
$21.6K $10.91/SF
Area
Racine County, WI
Vacancy
3.80%
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%
$432,000
Cap Rate 7%
$308,571
Cap Rate 9%
$240,000
Alternative Uses
Best Use
Multifamily LT 5
$308.6K
$270.0K – $360.0K
NOI $21,600 @ 7.0% cap · market cap 8.64%
Second Best
Apartment 5plus
$268.8K
$235.2K – $313.6K
NOI $18,818 @ 7.0% cap · market cap 7.53%
Theoretical Best
Office A
$476.2K
$416.6K – $555.5K
NOI $33,331 @ 7.0% cap · market cap 13.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
339
Businesses Nearby
Explore this area
Business Placement
Demographics for 53405, WI
25,561
Population
11,509
Households
2.2
Avg Household Size
39
Median Age
26%
College-Educated
90%
High-School Grad
6.6 sq mi
ZIP Area
3,873
Density / Sq Mi
$68,339
Median Household Income
$40,162
Median Earnings
$946
Median Rent
$173,600
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 - Two units feature fenced outdoor areas and maple hardwood flooring.
Where is this duplex located?
The property is located at 2142 Clarence Ave Racine, WI.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 1,980‑square‑foot duplex built in 1900; Maple hardwood floors in both units; Separate fenced backyard for each unit
