Two-Unit
New
For Sale
$225,000
6214 31st Ave, Kenosha, WI 53142
Separate furnaces and electric serve the two units, with central air in the lower unit.
Property Size1,651 SF
Price / SF$136.28
Days on Market6
Property Features for 6214 31st Ave
General Information
Standard status
Active
Size
1,651 SF
Property subtype
Residential Income
Additional Details
Road Access
Yes
Multifamily Units
2
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$2,898
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
Faraone Realty Co., Inc.
Listed By:
Anita Faraone
(262) 652-2592
Source:
Exprealty
Added: Oct 20
Changed: Oct 24
Last Checked: Oct 24 at 3:07PM
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 Faraone Realty Co., Inc.
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Investment Insights
Based on property information with market context.
This duplex contains two units across 1,651 square feet. Each unit has a stove and refrigerator, and the property has separate furnaces and electric service. Central air is installed in the lower unit; the upper unit does not have central air. The lower unit also has a dishwasher that is not operational.
The lower unit has six months remaining on its lease. The upper unit is occupied by a long-term tenant under a month-to-month lease.
The lower unit has six months remaining on its lease. The upper unit is occupied by a long-term tenant under a month-to-month lease.
Key Highlights
- Two units totaling 1,651 square feet
- Separate furnaces and electric service
- Stove and refrigerator in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,295
Cap Rate
7.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$325,900
$325.9K
Cap Rate 7%
$232,786
$232.8K
Cap Rate 9%
$181,056
$181.1K
Market Conditions
NOI Build-Up for 1,651 SF
Gross rent
$24.8K $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 Rate 5%
$325,900
Cap Rate 7%
$232,786
Cap Rate 9%
$181,056
Alternative Uses
Best Use
Multifamily LT 5
$232.8K
$203.7K – $271.6K
NOI $16,295 @ 7.0% cap · market cap 7.24%
Second Best
Apartment 5plus
$215.6K
$188.6K – $251.5K
NOI $15,089 @ 7.0% cap · market cap 6.71%
Theoretical Best
Warehouse
$1.92M
$1.68M – $2.24M
NOI $134,550 @ 7.0% cap · market cap 59.80%
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
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
668
Businesses Nearby
Explore this area
Business Placement
Demographics for 53142, WI
33,146
Population
13,787
Households
2.4
Avg Household Size
39
Median Age
36%
College-Educated
92%
High-School Grad
20.7 sq mi
ZIP Area
1,601
Density / Sq Mi
$86,891
Median Household Income
$49,161
Median Earnings
$1,319
Median Rent
$254,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Separate furnaces and electric serve the two units, with central air in the lower unit.
Where is this duplex located?
The property is located at 6214 31st Ave Kenosha, WI.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Two units totaling 1,651 square feet; Separate furnaces and electric service; Stove and refrigerator in each unit
