Two-Unit Duplex with
605 Gatewood Dr, Twin Lakes, WI 53181
For Sale
New
$200,000
Both residences offer three bedrooms, two full baths, separate utilities, and an individual one-car garage.
Property Size1,185 SF
Price / SF$168.78
Days on Market4
Property Features for 605 Gatewood Dr
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Property Condition
Severity
Evidence
Units
Unit Mix
Multifamily Units
Parking per Unit
Individually Metered Utilities
Additional Details
Utilities to Site
Tenant in Place
Building Details
Year Built
Listing Agency:
Berkshire Hathaway Starck Real Estate
Listed By:
Monica Mitchell
(847) 370-3953
Source:
Nikolicgroup
Added: Nov 6
Changed: Nov 7
Last Checked: Aug 25 at 5:15AM
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 Berkshire Hathaway Starck Real Estate
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Investment Insights
Based on property information with market context.
This duplex contains two matching residences, each with three bedrooms and two full baths. The main level has a bedroom, full bath, kitchen, and living room; two additional bedrooms and a second bath are in the finished English basement. Each unit includes its own one-car garage. Built in 2003, the property is zoned Res Condo, and each unit has a separate tax ID and utilities. The well is shared, with an individual meter.
One unit is occupied by a month-to-month tenant. The property is being sold as is; the stated foundation condition slopes toward the front, and the units will not pass FHA or VA financing. Shopping is within a short walk, and Lake Mary is two blocks away. The property is near the Illinois border.
One unit is occupied by a month-to-month tenant. The property is being sold as is; the stated foundation condition slopes toward the front, and the units will not pass FHA or VA financing. Shopping is within a short walk, and Lake Mary is two blocks away. The property is near the Illinois border.
Key Highlights
- Two matching units, each with 3 bedrooms and 2 full baths
- Each residence has a main‑level bedroom and finished English basement with 2 bedrooms
- Individual one‑car garage for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,696
Cap Rate
5.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$233,920
$233.9K
Cap Rate 7%
$167,086
$167.1K
Cap Rate 9%
$129,956
$130.0K
Market Conditions
NOI Build-Up for 1,185 SF
Gross rent
$17.8K $15.00/SF
− Vacancy
−$1.1K −$0.90/SF
EGI
$16.7K $14.10/SF
− OpEx
−$5.0K −$4.23/SF
NOI
$11.7K $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 Rate 5%
$233,920
Cap Rate 7%
$167,086
Cap Rate 9%
$129,956
Alternative Uses
Best Use
Multifamily LT 5
$167.1K
$146.2K – $194.9K
NOI $11,696 @ 7.0% cap · market cap 5.85%
Second Best
Apartment 5plus
$154.7K
$135.4K – $180.5K
NOI $10,830 @ 7.0% cap · market cap 5.42%
Theoretical Best
Office A
$259.7K
$227.2K – $303.0K
NOI $18,179 @ 7.0% cap · market cap 9.09%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
292
Businesses Nearby
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Business Placement
Demographics for 53181, WI
7,696
Population
4,479
Households
1.7
Avg Household Size
43
Median Age
25%
College-Educated
94%
High-School Grad
13.7 sq mi
ZIP Area
562
Density / Sq Mi
$93,922
Median Household Income
$55,146
Median Earnings
$1,051
Median Rent
$270,700
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Kenosha County, WI
Properties on Market for Duplexes in Kenosha County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences offer three bedrooms, two full baths, separate utilities, and an individual one-car garage.
Where is this duplex located?
The property is located at 605 Gatewood Dr Twin Lakes, WI.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Two matching units, each with 3 bedrooms and 2 full baths; Each residence has a main‑level bedroom and finished English basement with 2 bedrooms; Individual one‑car garage for each unit
