Side-by-Side
New
For Sale
$239,900
5701-5703 Banks Ave, Superior, WI 54880
MULTI-FAMILY, Superior, WI
Property Size2,472 SF
Lot Size0.16 Acres
Price / SF$97.05
Days on Market2
Property Features for 5701-5703 Banks Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
7
Bathrooms
4
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 6, Bedroom 4, Bathroom 2, Bedroom 7, Bedroom 1, Bedroom 5, Bedroom 3, Basement, Bathroom 4, Bathroom 1, Bathroom 3
Basement
Concrete
Elementary school district
Superior (WI) #5663
Middle school district
Superior (WI) #5663
High school district
Superior (WI) #5663
Directions
Banks Ave and 57th St
Subdivision
LSAR
Standard status
Active
APN
08-808-05137-00
Size
2,472 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2965
Utilities
Heating system
Natural Gas
Building Details
Year built
1890
Floors in Building
2
Number of units
2
Listing Agency:
RE/MAX Results · RE/MAX International
Listed By:
Jordan Decaro
(952) 829-2900
Added: Oct 19
Last Checked: Oct 20 at 7:06AM
MLS# 6128483
Copyright © 2026 Lake Superior Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This side-by-side duplex contains 2,472 square feet across two residences on a 0.16-acre lot. The lower unit has four bedrooms and two bathrooms; the upper unit has three bedrooms and two bathrooms. Both units are leased through 2027. The property was built in 1890 and has a vinyl exterior, natural gas heating, and off-street parking for four vehicles.
Tenants are responsible for electric, gas, water, sewer, and trash service. The property is located at 5701-5703 Banks Ave in Superior, Wisconsin.
Tenants are responsible for electric, gas, water, sewer, and trash service. The property is located at 5701-5703 Banks Ave in Superior, Wisconsin.
Key Highlights
- Two‑unit side‑by‑side duplex with 2,472 square feet
- Lower residence has 4 bedrooms and 2 bathrooms; upper residence has 3 bedrooms and 2 bathrooms
- Both units are leased through 2027
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,604
Cap Rate
8.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$412,080
$412.1K
Cap Rate 7%
$294,343
$294.3K
Cap Rate 9%
$228,933
$228.9K
Market Conditions
NOI Build-Up for 2,472 SF
Gross rent
$31.1K $12.60/SF
− Vacancy
−$1.7K −$0.69/SF
EGI
$29.4K $11.91/SF
− OpEx
−$8.8K −$3.57/SF
NOI
$20.6K $8.33/SF
Area
Douglas County, WI
Vacancy
5.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$412,080
Cap Rate 7%
$294,343
Cap Rate 9%
$228,933
Alternative Uses
Best Use
Multifamily LT 5
$294.3K
$257.6K – $343.4K
NOI $20,604 @ 7.0% cap · market cap 8.59%
Second Best
Apartment 5plus
$259.1K
$226.7K – $302.2K
NOI $18,134 @ 7.0% cap · market cap 7.56%
Theoretical Best
Specialty Retail
$779.4K
$682.0K – $909.3K
NOI $54,558 @ 7.0% cap · market cap 22.74%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
122
Businesses Nearby
Explore this area
Business Placement
Demographics for 54880, WI
30,400
Population
14,325
Households
2.1
Avg Household Size
39
Median Age
28%
College-Educated
94%
High-School Grad
166.1 sq mi
ZIP Area
183
Density / Sq Mi
$66,942
Median Household Income
$40,813
Median Earnings
$901
Median Rent
$176,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two leased residences include a four-bedroom lower unit and a three-bedroom upper unit.
Where is this duplex located?
The property is located at 5701-5703 Banks Ave Superior, WI.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Two‑unit side‑by‑side duplex with 2,472 square feet; Lower residence has 4 bedrooms and 2 bathrooms; upper residence has 3 bedrooms and 2 bathrooms; Both units are leased through 2027
