Remodeled Duplex
2201 Stonecroft Drive Unit 2203 Grafton, WI 53024
2201 Stonecroft Drive Unit 2203, Grafton, WI, 53024
$399,900
For Sale
$399,900
Duplex condo with a 3-bedroom lower unit remodeled in 2019, plus tenant-occupied upper unit and outdoor patio space.
Property Size2,500 SF
Price / SF$159.96
Days on Market23
Property Features for 2201 Stonecroft Drive Unit 2203
General Information
- Standard status
- Active
- Size
- 2,500 SF
- Property subtype
- Two-Family / Two Family
Building Details
- Year Built
- 1973
Listing agency
RE/MAX United - Cedarburg
(414) 331-7888
Listed by
Scott Campbell · License #29692-90
(414) 331-7888
Source
Compass
Added: Jun 29 Updated: Jul 21 at 10:17AM Checked: Jul 21 at 10:17AM
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 RE/MAX United - Cedarburg
Investment Insights
Based on property information with market context.
This duplex condo includes two separate units, with the lower unit offering a large open-concept 3-bedroom layout. The lower unit was completely remodeled in 2019 and features an island kitchen with patio doors opening to a large patio. Simulated wood flooring runs throughout both units, and the lower unit also has updated windows and new carpeting. Both units have split A/C units. The upper unit is tenant occupied and includes an open-concept layout, a separate foyer entry, and a primary bedroom with patio doors leading to a large deck.
The property includes a one-car attached garage along with two additional parking spaces for the lower unit (three total). The condo fee is $325 and includes water, sewer, trash, common area insurance, snow removal, lawn care, and reserves. The property is described as being in a great location near Lions Den Gorge Nature Preserve.
The property includes a one-car attached garage along with two additional parking spaces for the lower unit (three total). The condo fee is $325 and includes water, sewer, trash, common area insurance, snow removal, lawn care, and reserves. The property is described as being in a great location near Lions Den Gorge Nature Preserve.
Key Highlights
- Duplex condo built in 1973 with estimated 2,500 total SF and full, block basement
- Remodeled in 2019: large open‑concept 3‑bedroom lower unit (est. 1,600 SF) with updated windows and new carpeting
- Both units feature split A/C; simulated wood flooring throughout both units
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $40.8k | $16.32 |
| − Vacancy | −$2.2k | −$0.90 |
| EGI | $38.6k | $15.42 |
| − OpEx | −$11.6k | −$4.63 |
| NOI | $27.0k | $10.79 |
2,500 SF · lease $16.32/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$385.5K
$337.3K – $449.8K
NOI $26,986 @ 7.0% cap · market cap 6.75%
Second Best
Apartment 5plus
$355.3K
$310.9K – $414.5K
NOI $24,869 @ 7.0% cap · market cap 6.22%
Theoretical Best
Office A
$589.0K
$515.4K – $687.2K
NOI $41,232 @ 7.0% cap · market cap 10.31%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Duplex condo with a 3-bedroom lower unit remodeled in 2019, plus tenant-occupied upper unit and outdoor patio space.
Where is this duplex located?
The property is located at 2201 Stonecroft Drive Unit 2203 Grafton, WI.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Duplex condo built in 1973 with estimated 2,500 total SF and full, block basement; Remodeled in 2019: large open‑concept 3‑bedroom lower unit (est. 1,600 SF) with updated windows and new carpeting; Both units feature split A/C; simulated wood flooring throughout both units
