Listing Agency: Bear Realty Of Burlington Show Phone

Listed By: Howard Haubrich Show Phone

Source: Exprealty

Added: Oct 18 Changed: Oct 23 Last Checked: Oct 24 at 5:36PM

Report an Issue

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 Bear Realty Of Burlington

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This duplex contains two residences with separate layouts. The front unit has three bedrooms, 2.5 baths, an attached two-car garage, a galley kitchen, an open living area with a fireplace, and a front deck. The rear unit includes three bedrooms, 1.5 baths, an attached one-car garage, a family room, a galley kitchen, and an open living area. Both tenancies are month-to-month, and the current tenants would like to remain.

A detached garage and outbuilding of approximately 800 square feet includes a loft area of approximately 600 square feet, accessed by a full staircase. The interior is insulated and drywalled, and the building has a commercial-grade electric garage door opener. A gas forced-air wall heater is present but needs repair. The property is at 400 E North St in Silver Lake and has a view of Silver Lake.

Key Highlights

• Two residential units, each with three bedrooms
• Front unit has 2.5 baths, a two‑car attached garage, fireplace, and front deck
• Rear unit has 1.5 baths and a one‑car attached garage

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$35,374

Cap Rate

6.43%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$707,480 $707.5K

Cap Rate 7%

$505,343 $505.3K

Cap Rate 9%

$393,044 $393.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,584 SF

Gross rent

$53.8K $15.00/SF

− Vacancy

−$3.2K −$0.90/SF

EGI

$50.5K $14.10/SF

− OpEx

−$15.2K −$4.23/SF

NOI

$35.4K $9.87/SF

Area

Kenosha County, WI

Vacancy

6.00%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$707,480

Cap Rate 7%

$505,343

Cap Rate 9%

$393,044

Alternative Uses

Best Use

Multifamily LT 5

$505.3K

$442.2K – $589.6K (±1% cap)

NOI $35,374 @ 7.0% cap · market cap 6.43%

Second Best

Apartment 5plus

$467.9K

$409.4K – $545.9K (±1% cap)

NOI $32,755 @ 7.0% cap · market cap 5.96%

Theoretical Best

Warehouse

$4.17M

$3.65M – $4.87M (±1% cap)

NOI $292,082 @ 7.0% cap · market cap 53.12%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

143

Businesses Nearby

Explore this area Business Placement

Demographics for 53170, WI

2,362

Population

922

Households

2.6

Avg Household Size

40

Median Age

26%

College-Educated

97%

High-School Grad

1.0 sq mi

ZIP Area

2,362

Density / Sq Mi

$78,456

Median Household Income

$55,052

Median Earnings

$963

Median Rent

$259,100

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Frequently Asked Questions

What type of property is this?

Duplex - Two residences offer distinct layouts, attached garages, and month-to-month tenancy.

Where is this duplex located?

The property is located at 400 E North St Silver Lake, WI.

What is the asking price?

The asking price for this property is $549,900.

What are key features of this property?

This property features: Two residential units, each with three bedrooms; Front unit has 2.5 baths, a two‑car attached garage, fireplace, and front deck; Rear unit has 1.5 baths and a one‑car attached garage