Duplex with 3-Car
For Sale
$490,000
319 E Lake St, Lake Mills, WI 53551
Two residential units offer hardwood flooring, generous living areas, a fenced backyard, and a welcoming front porch.
Property Size2,927 SF
Price / SF$167.41
Days on Market27
Property Features for 319 E Lake St
General Information
Standard status
Active
Size
2,927 SF
Total Parking Spaces
3
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$5,382
Amenities
fenced backyard
front porch
Building Details
Tenancy
Multi
Listing Agency:
Coldwell Banker Elite
(262) 490-4903
Listed By:
Leah Thorp · License #5693790
(262) 490-4903
Source:
Exprealty
Added: Jul 10
Changed: Aug 3
Last Checked: Aug 3 at 2:05AM
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 Coldwell Banker Elite
Investment Insights
Based on property information with market context.
This 2927 SF duplex provides a two-unit residential layout with generous living areas and hardwood flooring throughout portions of the home. A three-car garage adds substantial covered vehicle and storage capacity, while the fenced backyard provides outdoor space and the front porch contributes an inviting entry feature.
The property is positioned near downtown amenities, including shops, restaurants, parks, and entertainment. Its combination of two residential units, substantial interior space, garage capacity, and outdoor features supports a range of occupancy arrangements, including multi-generational living or use of one unit while renting the other, as described in the property information.
The property is positioned near downtown amenities, including shops, restaurants, parks, and entertainment. Its combination of two residential units, substantial interior space, garage capacity, and outdoor features supports a range of occupancy arrangements, including multi-generational living or use of one unit while renting the other, as described in the property information.
Key Highlights
- Two‑unit residential configuration within 2927 SF
- Three‑car garage
- Hardwood flooring and generous living areas
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 | $47.4k | $16.20 |
| − Vacancy | −$3.1k | −$1.05 |
| EGI | $44.3k | $15.15 |
| − OpEx | −$13.3k | −$4.54 |
| NOI | $31.0k | $10.60 |
2,927 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$443.4K
$387.9K – $517.3K
NOI $31,035 @ 7.0% cap · market cap 6.33%
Second Best
Apartment 5plus
$392.4K
$343.4K – $457.8K
NOI $27,470 @ 7.0% cap · market cap 5.61%
Theoretical Best
Office A
$687.0K
$601.2K – $801.5K
NOI $48,092 @ 7.0% cap · market cap 9.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
234
Businesses Nearby
Explore this area
Business Placement
Demographics for 53551, WI
8,920
Population
4,048
Households
2.2
Avg Household Size
41
Median Age
45%
College-Educated
96%
High-School Grad
39.6 sq mi
ZIP Area
225
Density / Sq Mi
$89,841
Median Household Income
$53,503
Median Earnings
$1,089
Median Rent
$322,700
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 residential units offer hardwood flooring, generous living areas, a fenced backyard, and a welcoming front porch.
Where is this duplex located?
The property is located at 319 E Lake St Lake Mills, WI.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: Two‑unit residential configuration within 2927 SF; Three‑car garage; Hardwood flooring and generous living areas
