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 Market66
Property Features for 4143 N Downer Ave
General Information
Standard status
Active
Size
5,106 SF
Elevators
Yes
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
deck
Building Details
Year Built
1921
Listing Agency:
Keller Williams Milwaukee North Shore
Listed By:
Nancy Meeks · License #41526-94
(414) 962-3605
Source:
Nikolicgroup
Added: Aug 12
Changed: Oct 12
Last Checked: Oct 7 at 2:07PM
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
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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 / Yr
$54,717
Cap Rate
4.76%
Suggested Prices Based on Cap Rates
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
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 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.
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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
