Three-Unit Duplex and
Lot 3 County Road S, Mount Horeb, WI 53202
For Sale
$365,000
A separate rear residence adds a third dwelling to the two-unit duplex configuration.
Property Size2,955 SF
Price / SF$123.52
Days on Market13
Property Features for Lot 3 County Road S
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Amenities
walkout basement
walk-up attic
central air
private patio
laundry
Building Details
Year Built
Buildings
Listing Agency:
RE/MAX Preferred
(608) 356-4100
Listed By:
Scott Schroeder · License WI 59137-90
(608) 617-2727
Source:
Lakecountryflatfee
Added: Oct 29
Changed: Nov 9
Last Checked: Nov 9 at 8:56AM
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 Preferred
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Investment Insights
Based on property information with market context.
This Milwaukee multifamily property combines a two-story duplex with a detached rear cottage, for three residences in total. The duplex units each have two bedrooms and one full bath, alongside a living room, formal dining room, and kitchen. The cottage is configured with one bedroom and one bath. Total building area is 2,955 square feet, and the property dates to 1908.
Additional features include a walkout basement with laundry and a half bath, a walk-up attic, updated 200-amp electrical service, and central air on the main level. A private patio sits between the duplex and cottage.
Additional features include a walkout basement with laundry and a half bath, a walk-up attic, updated 200-amp electrical service, and central air on the main level. A private patio sits between the duplex and cottage.
Key Highlights
- Three residences: two 2‑bedroom, 1‑bath duplex units and one 1‑bedroom, 1‑bath cottage
- 2,955 square feet of building area
- Two‑story duplex with a separate rear cottage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,288
Cap Rate
7.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$565,760
$565.8K
Cap Rate 7%
$404,114
$404.1K
Cap Rate 9%
$314,311
$314.3K
Market Conditions
NOI Build-Up for 2,955 SF
Gross rent
$54.3K $18.36/SF
− Vacancy
−$2.8K −$0.95/SF
EGI
$51.4K $17.41/SF
− OpEx
−$23.1K −$7.83/SF
NOI
$28.3K $9.57/SF
Area
Milwaukee County, WI
Vacancy
5.20%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$565,760
Cap Rate 7%
$404,114
Cap Rate 9%
$314,311
Alternative Uses
Best Use
Apartment 5plus
$404.1K
$353.6K – $471.5K
NOI $28,288 @ 7.0% cap · market cap 7.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$700.7K
$613.2K – $817.5K
NOI $49,052 @ 7.0% cap · market cap 13.44%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
4
Businesses Nearby
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Business Placement
Demographics for 53202, WI
27,897
Population
18,629
Households
1.5
Avg Household Size
31
Median Age
66%
College-Educated
98%
High-School Grad
2.1 sq mi
ZIP Area
13,284
Density / Sq Mi
$68,482
Median Household Income
$52,339
Median Earnings
$1,234
Median Rent
$298,000
Median Home Value
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Market
Average Price Trend$/SF for Multifamily properties in Milwaukee County, WI
Properties on Market for Multifamily properties in Milwaukee County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Multifamily property - A separate rear residence adds a third dwelling to the two-unit duplex configuration.
Where is this multifamily property located?
The property is located at Lot 3 County Road S Mount Horeb, WI.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Three residences: two 2‑bedroom, 1‑bath duplex units and one 1‑bedroom, 1‑bath cottage; 2,955 square feet of building area; Two‑story duplex with a separate rear cottage
