Two-Unit Townhouse
For Sale
$799,900
3205-3207 S Ridge Crest Court, New Berlin, WI 53151
Two attached residences offer private entrances, separate garages, basements, laundry areas, and deck access to the backyard.
Property Size4,469 SF
Price / SF$178.99
Days on Market17
Property Features for 3205-3207 S Ridge Crest Court
General Information
Standard status
Active
Size
4,469 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 4BR/3.5BA, 1 x 3BR/2.5BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,223
Building Details
Buildings
1
Listing Agency:
Keller Williams Realty-Lake Country
(262) 912-1400
Listed By:
Nada Stojadinovic · License #9277894
(414) 350-7277
Source:
Exprealty
Added: Aug 28
Changed: Sep 10
Last Checked: Sep 13 at 1:31PM
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 Keller Williams Realty-Lake Country
Investment Insights
Based on property information with market context.
This two-family townhouse property combines 4,469 square feet of living space across two attached residences at 3205-3207 S Ridge Crest Court in New Berlin. The larger unit contains 2,744 square feet with four bedrooms, 3.5 baths, a 2.5-car attached garage, an office or den, and a partially exposed finished lower level with a recreation room, fourth bedroom, and full bath. The second residence provides 1,725 square feet, three bedrooms, 2.5 baths, and its own attached garage with capacity for more than two vehicles.
Each home has a private entrance, main-floor laundry, a basement, and a private deck facing the backyard. The layout supports separate residential use within one duplex property, with distinct living areas and attached garage access for both sides.
Each home has a private entrance, main-floor laundry, a basement, and a private deck facing the backyard. The layout supports separate residential use within one duplex property, with distinct living areas and attached garage access for both sides.
Key Highlights
- Two residences totaling 4,469 sq ft of living space
- Larger unit offers 2,744 sq ft, 4 bedrooms, and 3.5 baths
- Second unit includes 1,725 sq ft, 3 bedrooms, and 2.5 baths
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
$47,891
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
5.99%
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%
$957,820
$957.8K
Cap Rate 7%
$684,157
$684.2K
Cap Rate 9%
$532,122
$532.1K
Market Conditions
NOI Build-Up for 4,469 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
$72.4K $16.20/SF
− Vacancy
−$4.0K −$0.89/SF
EGI
$68.4K $15.31/SF
− OpEx
−$20.5K −$4.59/SF
NOI
$47.9K $10.72/SF
Area
Milwaukee County, WI
Vacancy
5.50%
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%
$957,820
Cap Rate 7%
$684,157
Cap Rate 9%
$532,122
Alternative Uses
Best Use
Multifamily LT 5
$684.2K
$598.6K – $798.2K
NOI $47,891 @ 7.0% cap · market cap 5.99%
Second Best
Apartment 5plus
$611.2K
$534.8K – $713.0K
NOI $42,781 @ 7.0% cap · market cap 5.35%
Theoretical Best
Office A
$1.06M
$927.3K – $1.24M
NOI $74,183 @ 7.0% cap · market cap 9.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
348
Businesses Nearby
Explore this area
Business Placement
Demographics for 53151, WI
32,535
Population
14,324
Households
2.3
Avg Household Size
47
Median Age
47%
College-Educated
98%
High-School Grad
17.5 sq mi
ZIP Area
1,859
Density / Sq Mi
$99,248
Median Household Income
$59,197
Median Earnings
$1,424
Median Rent
$351,300
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 attached residences offer private entrances, separate garages, basements, laundry areas, and deck access to the backyard.
Where is this duplex located?
The property is located at 3205-3207 S Ridge Crest Court New Berlin, WI.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Two residences totaling 4,469 sq ft of living space; Larger unit offers 2,744 sq ft, 4 bedrooms, and 3.5 baths; Second unit includes 1,725 sq ft, 3 bedrooms, and 2.5 baths
