Updated Upper-Lower
New
For Sale
$295,000
3623 Wright Ave, Racine, WI 53405
Two three-bedroom residences provide separate living space, with the upper apartment remodeled and electrical panels replaced in 2023.
Property Size2,746 SF
Price / SF$107.43
Days on Market1
Property Features for 3623 Wright Ave
General Information
Standard status
Active
Size
2,746 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Building Details
Year Built
1926
Listing Agency:
Raven Realty, LLC
Listed By:
Realty Executives Southeast
(262) 443-0030
Source:
Therealestatestudiowi
Added: Oct 11
Last Checked: Oct 11 at 2:34PM
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 Raven Realty, LLC
Investment Insights
Based on property information with market context.
Built in 1926, this 2,746-square-foot duplex is arranged as an upper and lower residence. Each unit has three bedrooms and one full bathroom. The upper apartment has been remodeled, and both electrical panels were upgraded in 2023.
The two-unit configuration offers separate residential spaces within one property. The address is 3623 Wright Ave in Racine, Wisconsin.
The two-unit configuration offers separate residential spaces within one property. The address is 3623 Wright Ave in Racine, Wisconsin.
Key Highlights
- Two units, each with 3 bedrooms and 1 full bathroom
- Upper and lower unit layout
- Upper unit remodeled
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,098
Cap Rate
8.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$521,960
$522.0K
Cap Rate 7%
$372,829
$372.8K
Cap Rate 9%
$289,978
$290.0K
Market Conditions
NOI Build-Up for 2,746 SF
Gross rent
$49.4K $18.00/SF
− Vacancy
−$2.0K −$0.72/SF
EGI
$47.5K $17.28/SF
− OpEx
−$21.4K −$7.78/SF
NOI
$26.1K $9.50/SF
Area
Racine County, WI
Vacancy
4.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$521,960
Cap Rate 7%
$372,829
Cap Rate 9%
$289,978
Alternative Uses
Best Use
Multifamily LT 5
$427.9K
$374.5K – $499.3K
NOI $29,956 @ 7.0% cap · market cap 10.15%
Second Best
Apartment 5plus
$372.8K
$326.2K – $435.0K
NOI $26,098 @ 7.0% cap · market cap 8.85%
Theoretical Best
Office A
$660.4K
$577.8K – $770.4K
NOI $46,225 @ 7.0% cap · market cap 15.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
434
Businesses Nearby
Explore this area
Business Placement
Demographics for 53405, WI
25,561
Population
11,509
Households
2.2
Avg Household Size
39
Median Age
26%
College-Educated
90%
High-School Grad
6.6 sq mi
ZIP Area
3,873
Density / Sq Mi
$68,339
Median Household Income
$40,162
Median Earnings
$946
Median Rent
$173,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom residences provide separate living space, with the upper apartment remodeled and electrical panels replaced in 2023.
Where is this duplex located?
The property is located at 3623 Wright Ave Racine, WI.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Two units, each with 3 bedrooms and 1 full bathroom; Upper and lower unit layout; Upper unit remodeled
