Updated Duplex with Detached
New
For Sale
$240,000
2415 Prospect STREET, Racine, WI 53404
Two residences offer the option to occupy one unit while renting the other.
Property Size1,630 SF
Price / SF$147.24
Days on Market5
Property Features for 2415 Prospect STREET
General Information
Standard status
Active
Size
1,630 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Amenities
large backyard
Building Details
Year Built
1905
Buildings
1
Listing Agency:
Berkshire Hathaway HomeServices Metro Realty-Racine
Listed By:
Leovigildo Villa
Source:
Lakecountryflatfee
Added: Oct 26
Changed: Oct 28
Last Checked: Oct 28 at 3:02PM
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 Berkshire Hathaway HomeServices Metro Realty-Racine
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Investment Insights
Based on property information with market context.
This 1,630-square-foot duplex, built in 1905, has two units and a detached two-car garage. Improvements include updated kitchens, bathrooms, flooring, windows, furnace, and roof. A private driveway and large backyard are also part of the property.
The backyard overlooks Lincoln Park and the Root River area. Parks, recreation, shopping, and downtown Racine amenities are nearby.
The backyard overlooks Lincoln Park and the Root River area. Parks, recreation, shopping, and downtown Racine amenities are nearby.
Key Highlights
- Two‑unit duplex with 1,630 square feet
- Updated kitchens, bathrooms, flooring, windows, furnace, and roof
- Detached two‑car garage and private driveway
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,782
Cap Rate
7.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$355,640
$355.6K
Cap Rate 7%
$254,029
$254.0K
Cap Rate 9%
$197,578
$197.6K
Market Conditions
NOI Build-Up for 1,630 SF
Gross rent
$26.4K $16.20/SF
− Vacancy
−$1.0K −$0.62/SF
EGI
$25.4K $15.58/SF
− OpEx
−$7.6K −$4.68/SF
NOI
$17.8K $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 Rate 5%
$355,640
Cap Rate 7%
$254,029
Cap Rate 9%
$197,578
Alternative Uses
Best Use
Multifamily LT 5
$254.0K
$222.3K – $296.4K
NOI $17,782 @ 7.0% cap · market cap 7.41%
Second Best
Apartment 5plus
$221.3K
$193.7K – $258.2K
NOI $15,492 @ 7.0% cap · market cap 6.46%
Theoretical Best
Office A
$392.0K
$343.0K – $457.3K
NOI $27,439 @ 7.0% cap · market cap 11.43%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
238
Businesses Nearby
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Business Placement
Demographics for 53404, WI
15,532
Population
5,110
Households
3
Avg Household Size
32
Median Age
13%
College-Educated
82%
High-School Grad
4.9 sq mi
ZIP Area
3,170
Density / Sq Mi
$47,714
Median Household Income
$35,419
Median Earnings
$968
Median Rent
$126,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two residences offer the option to occupy one unit while renting the other.
Where is this duplex located?
The property is located at 2415 Prospect STREET Racine, WI.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,630 square feet; Updated kitchens, bathrooms, flooring, windows, furnace, and roof; Detached two‑car garage and private driveway
