Duplex With Detached
For Sale
$450,000
513 N Harrison St, Port Washington, WI 53074
Two-unit property with private outdoor areas, in-unit laundry, and a detached garage.
Property Size2,033 SF
Price / SF$221.35
Days on Market24
Property Features for 513 N Harrison St
General Information
Standard status
Active
Size
2,033 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
in-unit laundry
front porch
back deck
backyard
garage
Building Details
Year Built
1910
Buildings
1
Listing Agency:
Keller Williams Milwaukee North Shore
(414) 962-3605
Listed By:
John Molitor · License #7372894
Source:
Nikolicgroup
Added: Aug 6
Changed: Aug 28
Last Checked: Aug 28 at 8:36PM
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.
Built in 1910, this duplex contains two residential units within approximately 2,033 square feet. Both units offer bright living areas, generously proportioned rooms, front bedrooms with pocket doors, distinctive woodwork, in-unit laundry, a front porch, and a rear deck. A backyard and detached 2.5-car garage add useful exterior amenities.
The property is near the Ozaukee Urban Trail, several parks, and downtown Port Washington. Nearby downtown offerings include cafes, restaurants, a marina, and a local farmers market. The upper unit is occupied, while the lower unit is vacant, providing two distinct occupancy positions within the building.
The property is near the Ozaukee Urban Trail, several parks, and downtown Port Washington. Nearby downtown offerings include cafes, restaurants, a marina, and a local farmers market. The upper unit is occupied, while the lower unit is vacant, providing two distinct occupancy positions within the building.
Key Highlights
- Duplex with 2,033 square feet of property size
- Built in 1910
- Both units include in‑unit laundry, a front porch, and a back deck
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
$21,945
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
4.88%
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%
$438,900
$438.9K
Cap Rate 7%
$313,500
$313.5K
Cap Rate 9%
$243,833
$243.8K
Market Conditions
NOI Build-Up for 2,033 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
$33.2K $16.32/SF
− Vacancy
−$1.8K −$0.90/SF
EGI
$31.4K $15.42/SF
− OpEx
−$9.4K −$4.63/SF
NOI
$21.9K $10.79/SF
Area
Ozaukee County, WI
Vacancy
5.51%
Lease Rate
$16.32 /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%
$438,900
Cap Rate 7%
$313,500
Cap Rate 9%
$243,833
Alternative Uses
Best Use
Multifamily LT 5
$313.5K
$274.3K – $365.8K
NOI $21,945 @ 7.0% cap · market cap 4.88%
Second Best
Apartment 5plus
$288.9K
$252.8K – $337.1K
NOI $20,223 @ 7.0% cap · market cap 4.49%
Theoretical Best
Office A
$479.0K
$419.1K – $558.8K
NOI $33,530 @ 7.0% cap · market cap 7.45%
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
632
Businesses Nearby
Explore this area
Business Placement
Demographics for 53074, WI
13,379
Population
5,859
Households
2.3
Avg Household Size
42
Median Age
36%
College-Educated
96%
High-School Grad
30.3 sq mi
ZIP Area
442
Density / Sq Mi
$78,944
Median Household Income
$48,089
Median Earnings
$1,024
Median Rent
$276,200
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-unit property with private outdoor areas, in-unit laundry, and a detached garage.
Where is this duplex located?
The property is located at 513 N Harrison St Port Washington, WI.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Duplex with 2,033 square feet of property size; Built in 1910; Both units include in‑unit laundry, a front porch, and a back deck
