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Building Details

Buildings 1

Construction brick

Listing Agency: Image Real Estate, Inc. Show Phone

Listed By: Patricia Lemke · License #5623290 Show Phone

Source: Exprealty

Added: Oct 12 Changed: Oct 15 Last Checked: Oct 15 at 1:51AM

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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 Image Real Estate, Inc.

Investment Insights

Based on property information with market context.

This 2,412-square-foot brick duplex has two residences: a two-bedroom upper unit and a three-bedroom lower unit. The upper residence includes an eat-in kitchen and laundry hookups in a closet. The lower unit has a spacious kitchen, main-floor laundry, and 1.5 baths. A finished basement adds to the building’s interior space.

The property occupies a corner lot with a large driveway and an attached two-car garage. Each unit has central air and separate utilities.

Key Highlights

• Two units: a two‑bedroom upper residence and a three‑bedroom lower residence
• 2,412 square feet in a brick duplex
• Attached two‑car garage and large driveway on a corner lot

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$22,924

Cap Rate

8.04%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$458,480 $458.5K

Cap Rate 7%

$327,486 $327.5K

Cap Rate 9%

$254,711 $254.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,412 SF

Gross rent

$43.4K $18.00/SF

− Vacancy

−$1.7K −$0.72/SF

EGI

$41.7K $17.28/SF

− OpEx

−$18.8K −$7.78/SF

NOI

$22.9K $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%

$458,480

Cap Rate 7%

$327,486

Cap Rate 9%

$254,711

Alternative Uses

Best Use

Multifamily LT 5

$375.9K

$328.9K – $438.6K (±1% cap)

NOI $26,313 @ 7.0% cap · market cap 9.23%

Second Best

Apartment 5plus

$327.5K

$286.6K – $382.1K (±1% cap)

NOI $22,924 @ 7.0% cap · market cap 8.04%

Theoretical Best

Office A

$580.0K

$507.5K – $676.7K (±1% cap)

NOI $40,603 @ 7.0% cap · market cap 14.25%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Law Firm Parking Lot & Garage Electrical Service Skin Care Clinic (Bike/Boat/Book/etc) Store Cafe & Coffee Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

375

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

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Both residences have central air, with separate utility services for each unit.

Where is this duplex located?

The property is located at 3800 Republic Ave Racine, WI.

What is the asking price?

The asking price for this property is $285,000.

What are key features of this property?

This property features: Two units: a two‑bedroom upper residence and a three‑bedroom lower residence; 2,412 square feet in a brick duplex; Attached two‑car garage and large driveway on a corner lot