Architect-Designed Duplex with
For Sale
$1,149,000
4143 N Downer Ave, Shorewood, WI 53211
Two residences retain original architectural detailing alongside updated kitchens, baths, and a private upper-level deck.
Property Size5,106 SF
Price / SF$225.03
Days on Market22
Property Features for 4143 N Downer Ave
General Information
Standard status
Active
Size
5,106 SF
Elevators
Yes
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$17,988
Amenities
deck
Listing Agency:
Keller Williams Milwaukee North Shore
(414) 659-1126
Listed By:
Nancy Meeks · License #41526-94
(414) 659-1126
Source:
Exprealty
Added: Jul 24
Changed: Aug 13
Last Checked: Aug 14 at 10:44AM
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 Keller Williams Milwaukee North Shore
Investment Insights
Based on property information with market context.
This 5,106-square-foot duplex occupies a residence designed by Milwaukee architect Thomas Van Alyea. The first-floor home offers 3 BR, 2 full BA, an updated kitchen, and period features including coved ceilings, arched openings, hardwood floors, plasterwork, and leaded-glass windows. The upper residence includes 3 BR and 2 BA, with improvements to the kitchen and primary bath, plus a deck and an additional 3 BR and 2 BA on the third floor.
A functional elevator connects the lower level with the first and second floors, while a circular staircase provides a second vertical circulation option. The property is located at 4143 N Downer Ave in Shorewood, WI, along Downer Avenue.
A functional elevator connects the lower level with the first and second floors, while a circular staircase provides a second vertical circulation option. The property is located at 4143 N Downer Ave in Shorewood, WI, along Downer Avenue.
Key Highlights
- 5,106‑square‑foot duplex at 4143 N Downer Ave, Shorewood, WI
- Designed by Milwaukee architect Thomas Van Alyea
- First‑floor unit includes 3 BR, 2 full BA, and an updated kitchen
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
$54,717
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
4.76%
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%
$1,094,340
$1.1M
Cap Rate 7%
$781,671
$781.7K
Cap Rate 9%
$607,967
$608.0K
Market Conditions
NOI Build-Up for 5,106 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
$82.7K $16.20/SF
− Vacancy
−$4.5K −$0.89/SF
EGI
$78.2K $15.31/SF
− OpEx
−$23.5K −$4.59/SF
NOI
$54.7K $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 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%
$1,094,340
Cap Rate 7%
$781,671
Cap Rate 9%
$607,967
Alternative Uses
Best Use
Multifamily LT 5
$781.7K
$684.0K – $912.0K
NOI $54,717 @ 7.0% cap · market cap 4.76%
Second Best
Apartment 5plus
$698.3K
$611.0K – $814.7K
NOI $48,879 @ 7.0% cap · market cap 4.25%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,757 @ 7.0% cap · market cap 7.38%
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
749
Businesses Nearby
Explore this area
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
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 residences retain original architectural detailing alongside updated kitchens, baths, and a private upper-level deck.
Where is this duplex located?
The property is located at 4143 N Downer Ave Shorewood, WI.
What is the asking price?
The asking price for this property is $1,149,000.
What are key features of this property?
This property features: 5,106‑square‑foot duplex at 4143 N Downer Ave, Shorewood, WI; Designed by Milwaukee architect Thomas Van Alyea; First‑floor unit includes 3 BR, 2 full BA, and an updated kitchen
