Two-Unit
For Sale
$189,900
6106 24th Ave, Kenosha, WI 53143
Both apartments offer two bedrooms, with one residence positioned above the other.
Property Size1,649 SF
Price / SF$115.16
Days on Market115
Property Features for 6106 24th Ave
General Information
Standard status
Active
Size
1,649 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$2,011
Building Details
Tenancy
Multi
Listing Agency:
Welcome Home Real Estate Group, LLC
(262) 909-8700
Listed By:
Aaron Kohlmeier · License #5466490
(262) 909-8700
Source:
Exprealty
Added: Apr 20
Changed: Aug 2
Last Checked: Aug 11 at 11:24AM
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 Welcome Home Real Estate Group, LLC
Investment Insights
Based on property information with market context.
This duplex at 6106 24th Ave in Kenosha, Wisconsin, contains 1,649 SF across two residential units. The lower apartment includes two bedrooms, while the upper apartment also provides a two-bedroom layout.
The two-level configuration creates separate residences within one multifamily property, offering a straightforward arrangement for residential income use. The address places the asset in Kenosha, Wisconsin.
The two-level configuration creates separate residences within one multifamily property, offering a straightforward arrangement for residential income use. The address places the asset in Kenosha, Wisconsin.
Key Highlights
- Two‑unit duplex at 6106 24th Ave, Kenosha, WI
- 1,649 SF property size
- Lower unit includes 2 bedrooms
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
$16,276
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
8.57%
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%
$325,520
$325.5K
Cap Rate 7%
$232,514
$232.5K
Cap Rate 9%
$180,844
$180.8K
Market Conditions
NOI Build-Up for 1,649 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
$24.7K $15.00/SF
− Vacancy
−$1.5K −$0.90/SF
EGI
$23.3K $14.10/SF
− OpEx
−$7.0K −$4.23/SF
NOI
$16.3K $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%
$325,520
Cap Rate 7%
$232,514
Cap Rate 9%
$180,844
Alternative Uses
Best Use
Multifamily LT 5
$232.5K
$203.5K – $271.3K
NOI $16,276 @ 7.0% cap · market cap 8.57%
Second Best
Apartment 5plus
$215.3K
$188.4K – $251.2K
NOI $15,071 @ 7.0% cap · market cap 7.94%
Theoretical Best
Warehouse
$1.92M
$1.68M – $2.24M
NOI $134,387 @ 7.0% cap · market cap 70.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
533
Businesses Nearby
Explore this area
Business Placement
Demographics for 53143, WI
22,702
Population
9,118
Households
2.5
Avg Household Size
36
Median Age
23%
College-Educated
87%
High-School Grad
4.1 sq mi
ZIP Area
5,537
Density / Sq Mi
$67,105
Median Household Income
$40,276
Median Earnings
$1,157
Median Rent
$186,600
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 - Both apartments offer two bedrooms, with one residence positioned above the other.
Where is this duplex located?
The property is located at 6106 24th Ave Kenosha, WI.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: Two‑unit duplex at 6106 24th Ave, Kenosha, WI; 1,649 SF property size; Lower unit includes 2 bedrooms
