Duplex with Original
For Sale
$339,000
3401 Douglas Ave, Racine, WI 53402
Two residential units feature spacious interiors, tall ceilings, updated electrical systems, and preserved architectural detailing.
Property Size2,377 SF
Price / SF$142.62
Days on Market35
Property Features for 3401 Douglas Ave
General Information
Standard status
Active
Size
2,377 SF
Additional Details
Multifamily Units
2
Building Details
Year Built
1928
Buildings
1
Listing Agency:
RE/MAX Newport
(262) 497-5021
Listed By:
Karen Sorenson · License #5678790
Source:
Jwregwi
Added: Jul 27
Changed: Aug 28
Last Checked: Aug 29 at 11:52AM
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 Newport
Investment Insights
Based on property information with market context.
This two-unit residential property at 3401 Douglas Ave in Racine, Wisconsin, contains 2,377 square feet of living area. Constructed in 1928, the building retains original woodwork, natural wood trim, and high ceilings that define its period character. Both units provide generous living spaces with traditional architectural detail throughout.
Electrical systems have been updated, adding modern infrastructure to the property's vintage construction. The duplex format supports either an owner-occupied arrangement or continued use as a residential income property, subject to applicable requirements.
Electrical systems have been updated, adding modern infrastructure to the property's vintage construction. The duplex format supports either an owner-occupied arrangement or continued use as a residential income property, subject to applicable requirements.
Key Highlights
- 2,377 SF duplex in Racine, WI
- Two residential units with generous living areas
- Original woodwork and natural wood trim
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
$25,931
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
7.65%
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%
$518,620
$518.6K
Cap Rate 7%
$370,443
$370.4K
Cap Rate 9%
$288,122
$288.1K
Market Conditions
NOI Build-Up for 2,377 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
$38.5K $16.20/SF
− Vacancy
−$1.5K −$0.62/SF
EGI
$37.0K $15.58/SF
− OpEx
−$11.1K −$4.68/SF
NOI
$25.9K $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 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%
$518,620
Cap Rate 7%
$370,443
Cap Rate 9%
$288,122
Alternative Uses
Best Use
Multifamily LT 5
$370.4K
$324.1K – $432.2K
NOI $25,931 @ 7.0% cap · market cap 7.65%
Second Best
Apartment 5plus
$322.7K
$282.4K – $376.5K
NOI $22,591 @ 7.0% cap · market cap 6.66%
Theoretical Best
Office A
$571.6K
$500.2K – $666.9K
NOI $40,013 @ 7.0% cap · market cap 11.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
304
Businesses Nearby
Explore this area
Business Placement
Demographics for 53402, WI
33,621
Population
15,660
Households
2.1
Avg Household Size
41
Median Age
33%
College-Educated
92%
High-School Grad
20.0 sq mi
ZIP Area
1,681
Density / Sq Mi
$74,125
Median Household Income
$47,838
Median Earnings
$1,049
Median Rent
$224,200
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 feature spacious interiors, tall ceilings, updated electrical systems, and preserved architectural detailing.
Where is this duplex located?
The property is located at 3401 Douglas Ave Racine, WI.
What is the asking price?
The asking price for this property is $339,000.
What are key features of this property?
This property features: 2,377 SF duplex in Racine, WI; Two residential units with generous living areas; Original woodwork and natural wood trim
