Remodeled
For Sale
$479,900
4015 Washington Rd, Kenosha, WI 53144
Two refreshed residences feature functional layouts, updated finishes, and comfortable room proportions.
Property Size2,112 SF
Price / SF$227.23
Days on Market21
Property Features for 4015 Washington Rd
General Information
Standard status
Active
Size
2,112 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,648
Listing Agency:
Rondon Real Estate LLC
(262) 960-6876
Listed By:
Michael Rondon · License #9779394
(262) 960-6876
Source:
Exprealty
Added: Aug 3
Changed: Aug 22
Last Checked: Aug 22 at 7:05AM
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 Rondon Real Estate LLC
Investment Insights
Based on property information with market context.
This 2,112-square-foot duplex contains upper and lower residences with generous room dimensions and practical floor plans. Both units have received substantial interior updates, including renovated kitchens and bathrooms, newer flooring, fresh paint, and contemporary fixtures. Natural light further enhances the living spaces.
The property is positioned on the north side of Kenosha near schools, parks, shopping, and major commuter routes. Its two-unit configuration supports either owner occupancy or an investment strategy centered on rental income.
The property is positioned on the north side of Kenosha near schools, parks, shopping, and major commuter routes. Its two-unit configuration supports either owner occupancy or an investment strategy centered on rental income.
Key Highlights
- 2,112‑square‑foot duplex with upper and lower units
- Both residences feature updated kitchens and remodeled bathrooms
- New flooring, fresh paint, and modern fixtures throughout
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
$20,845
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
4.34%
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%
$416,900
$416.9K
Cap Rate 7%
$297,786
$297.8K
Cap Rate 9%
$231,611
$231.6K
Market Conditions
NOI Build-Up for 2,112 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
$31.7K $15.00/SF
− Vacancy
−$1.9K −$0.90/SF
EGI
$29.8K $14.10/SF
− OpEx
−$8.9K −$4.23/SF
NOI
$20.8K $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 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%
$416,900
Cap Rate 7%
$297,786
Cap Rate 9%
$231,611
Alternative Uses
Best Use
Multifamily LT 5
$297.8K
$260.6K – $347.4K
NOI $20,845 @ 7.0% cap · market cap 4.34%
Second Best
Apartment 5plus
$275.7K
$241.3K – $321.7K
NOI $19,302 @ 7.0% cap · market cap 4.02%
Theoretical Best
Warehouse
$2.46M
$2.15M – $2.87M
NOI $172,119 @ 7.0% cap · market cap 35.87%
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
264
Businesses Nearby
Explore this area
Business Placement
Demographics for 53144, WI
26,702
Population
10,731
Households
2.5
Avg Household Size
37
Median Age
32%
College-Educated
91%
High-School Grad
43.4 sq mi
ZIP Area
615
Density / Sq Mi
$71,111
Median Household Income
$42,017
Median Earnings
$1,136
Median Rent
$248,200
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 refreshed residences feature functional layouts, updated finishes, and comfortable room proportions.
Where is this duplex located?
The property is located at 4015 Washington Rd Kenosha, WI.
What is the asking price?
The asking price for this property is $479,900.
What are key features of this property?
This property features: 2,112‑square‑foot duplex with upper and lower units; Both residences feature updated kitchens and remodeled bathrooms; New flooring, fresh paint, and modern fixtures throughout
