Duplex with Two-Car
New
For Sale
$579,000
3507 N Downer Ave, Shorewood, WI 53211
Two separate living units offer distinct layouts, with a finished-feeling basement and additional driveway parking.
Property Size2,880 SF
Price / SF$201.04
Days on Market3
Property Features for 3507 N Downer Ave
General Information
Standard status
Active
Size
2,880 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
outdoor porch
fenced lot
Building Details
Year Built
1954
Buildings
1
Stories
2
Listing Agency:
Hollrith Realty, Inc
Listed By:
Avenue Real Estate
(920) 893-3001
Source:
Avenueret
Added: Oct 28
Last Checked: Oct 28 at 5:06AM
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 Hollrith Realty, Inc
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Investment Insights
Based on property information with market context.
Built in 1954, this 2,880-square-foot duplex contains two living units. New windows are installed throughout. The lower unit features exposed wood floors, high ceilings, an updated eat-in kitchen, and an updated bathroom. Upstairs, built-in cabinetry complements a kitchen, bathroom, and outdoor porch.
A large fenced lot includes a two-car garage and driveway parking for two additional vehicles. The basement provides substantial storage space, glass-block windows, and mechanical equipment. The property is near the University of Wisconsin–Milwaukee, Shorewood schools, and local shops.
A large fenced lot includes a two-car garage and driveway parking for two additional vehicles. The basement provides substantial storage space, glass-block windows, and mechanical equipment. The property is near the University of Wisconsin–Milwaukee, Shorewood schools, and local shops.
Key Highlights
- 2,880‑square‑foot duplex built in 1954
- Two‑unit layout with separate kitchens and bathrooms
- New windows throughout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,863
Cap Rate
5.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$617,260
$617.3K
Cap Rate 7%
$440,900
$440.9K
Cap Rate 9%
$342,922
$342.9K
Market Conditions
NOI Build-Up for 2,880 SF
Gross rent
$46.7K $16.20/SF
− Vacancy
−$2.6K −$0.89/SF
EGI
$44.1K $15.31/SF
− OpEx
−$13.2K −$4.59/SF
NOI
$30.9K $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 Rate 5%
$617,260
Cap Rate 7%
$440,900
Cap Rate 9%
$342,922
Alternative Uses
Best Use
Multifamily LT 5
$440.9K
$385.8K – $514.4K
NOI $30,863 @ 7.0% cap · market cap 5.33%
Second Best
Apartment 5plus
$393.9K
$344.6K – $459.5K
NOI $27,570 @ 7.0% cap · market cap 4.76%
Theoretical Best
Office A
$683.0K
$597.6K – $796.8K
NOI $47,807 @ 7.0% cap · market cap 8.26%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
934
Businesses Nearby
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Business Placement
Demographics for 53211, WI
36,327
Population
16,346
Households
2.2
Avg Household Size
29
Median Age
74%
College-Educated
98%
High-School Grad
4.0 sq mi
ZIP Area
9,082
Density / Sq Mi
$76,206
Median Household Income
$40,214
Median Earnings
$1,225
Median Rent
$413,500
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 separate living units offer distinct layouts, with a finished-feeling basement and additional driveway parking.
Where is this duplex located?
The property is located at 3507 N Downer Ave Shorewood, WI.
What is the asking price?
The asking price for this property is $579,000.
What are key features of this property?
This property features: 2,880‑square‑foot duplex built in 1954; Two‑unit layout with separate kitchens and bathrooms; New windows throughout
