Updated Duplex with Detached
For Sale
$289,900
5909 33rd Ave, Kenosha, WI 53144
Two refreshed units offer separate utilities, complete appliances, off-street parking, and convenient access to downtown amenities.
Property Size1,868 SF
Price / SF$155.19
Days on Market13
Property Features for 5909 33rd Ave
General Information
Standard status
Active
Size
1,868 SF
Total Parking Spaces
2
Property subtype
Residential Income
Additional Details
Gross Income
$32,400
Utilities to Site
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,868
Amenities
front porch
Building Details
Buildings
1
Listing Agency:
Pike and Prairie Realty
(262) 344-8998
Listed By:
Jennifer Hernandez
(262) 344-8998
Source:
Exprealty
Added: Jul 30
Changed: Aug 11
Last Checked: Aug 11 at 5:41AM
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 Pike and Prairie Realty
Investment Insights
Based on property information with market context.
This 1,868-square-foot duplex contains two fully updated units with modern finishes and complete appliance packages. Separate gas and electric service supports independent utility management, while both residences include access to off-street parking. A detached two-car garage and covered front porch add useful storage and outdoor space.
Located at 5909 33rd Ave in Kenosha, the property is positioned in the city center, within walking distance of shops and restaurants. The lake is approximately a 10-minute drive away. Both units are subject to no-pet terms and are currently associated with income over the next 12 months.
Located at 5909 33rd Ave in Kenosha, the property is positioned in the city center, within walking distance of shops and restaurants. The lake is approximately a 10-minute drive away. Both units are subject to no-pet terms and are currently associated with income over the next 12 months.
Key Highlights
- 1,868 SF duplex with two fully updated units
- Separate gas and electric service for each unit
- Full appliance packages included in both units
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
$18,437
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
6.36%
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%
$368,740
$368.7K
Cap Rate 7%
$263,386
$263.4K
Cap Rate 9%
$204,856
$204.9K
Market Conditions
NOI Build-Up for 1,868 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
$28.0K $15.00/SF
− Vacancy
−$1.7K −$0.90/SF
EGI
$26.3K $14.10/SF
− OpEx
−$7.9K −$4.23/SF
NOI
$18.4K $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%
$368,740
Cap Rate 7%
$263,386
Cap Rate 9%
$204,856
Alternative Uses
Best Use
Multifamily LT 5
$263.4K
$230.5K – $307.3K
NOI $18,437 @ 7.0% cap · market cap 6.36%
Second Best
Apartment 5plus
$243.9K
$213.4K – $284.5K
NOI $17,072 @ 7.0% cap · market cap 5.89%
Theoretical Best
Warehouse
$2.17M
$1.90M – $2.54M
NOI $152,234 @ 7.0% cap · market cap 52.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
311
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 units offer separate utilities, complete appliances, off-street parking, and convenient access to downtown amenities.
Where is this duplex located?
The property is located at 5909 33rd Ave Kenosha, WI.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: 1,868 SF duplex with two fully updated units; Separate gas and electric service for each unit; Full appliance packages included in both units
