Side-by-Side Duplex with
For Sale
$675,000
622 Lous Way, Slinger, WI 53086
Tenant-occupied duplex with separate entries, attached garages, and distinct three- and four-bedroom floor plans.
Property Size3,452 SF
Price / SF$195.54
Days on Market9
Property Features for 622 Lous Way
General Information
Standard status
Active
Size
3,452 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Units
Unit Mix
1 x 4BR/2BA + den, 1 x 3BR/2BA
Multifamily Units
2
Parking per Unit
2
Additional Details
Gross Income
$54,540
Building Details
Year Built
1996
Buildings
1
Listing Agency:
Leitner Properties
(262) 224-7330
Listed By:
Kelly Leitner
Source:
Nikolicgroup
Added: Aug 22
Changed: Aug 28
Last Checked: Aug 29 at 11:51AM
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 Leitner Properties
Investment Insights
Based on property information with market context.
This side-by-side duplex contains two separate residences, each with its own entrance and attached 2-car garage. One unit includes 4 bedrooms, 2 full baths, a den, and approximately 1,960 sq. ft.; the other provides 3 bedrooms, 2 full baths, and approximately 1,625 sq. ft. The property was built in 1996 and has received recent mechanical and appliance updates.
Located at 622 Lous Way in Slinger, Wisconsin, the duplex is currently tenant occupied. Residents are responsible for their own utilities. The two-unit layout, separate access, garage parking, and differing bedroom configurations provide a practical residential income property setup.
Located at 622 Lous Way in Slinger, Wisconsin, the duplex is currently tenant occupied. Residents are responsible for their own utilities. The two-unit layout, separate access, garage parking, and differing bedroom configurations provide a practical residential income property setup.
Key Highlights
- Side‑by‑side duplex at 622 Lous Way, Slinger, WI 53086
- Each unit includes an attached 2‑car garage and private entrance
- 4‑bedroom unit has 2 full baths, a den, and approximately 1,960 sq. ft.
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
$36,601
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
5.42%
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%
$732,020
$732.0K
Cap Rate 7%
$522,871
$522.9K
Cap Rate 9%
$406,678
$406.7K
Market Conditions
NOI Build-Up for 3,452 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
$55.9K $16.20/SF
− Vacancy
−$3.6K −$1.05/SF
EGI
$52.3K $15.15/SF
− OpEx
−$15.7K −$4.54/SF
NOI
$36.6K $10.60/SF
Area
Washington County, WI
Vacancy
6.50%
Lease Rate
$16.20 /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%
$732,020
Cap Rate 7%
$522,871
Cap Rate 9%
$406,678
Alternative Uses
Best Use
Multifamily LT 5
$522.9K
$457.5K – $610.0K
NOI $36,601 @ 7.0% cap · market cap 5.42%
Second Best
Apartment 5plus
$469.1K
$410.5K – $547.3K
NOI $32,837 @ 7.0% cap · market cap 4.86%
Theoretical Best
Office A
$949.0K
$830.4K – $1.11M
NOI $66,430 @ 7.0% cap · market cap 9.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
335
Businesses Nearby
Explore this area
Business Placement
Demographics for 53086, WI
9,209
Population
4,003
Households
2.3
Avg Household Size
41
Median Age
35%
College-Educated
98%
High-School Grad
21.5 sq mi
ZIP Area
428
Density / Sq Mi
$105,539
Median Household Income
$55,291
Median Earnings
$1,073
Median Rent
$363,000
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 - Tenant-occupied duplex with separate entries, attached garages, and distinct three- and four-bedroom floor plans.
Where is this duplex located?
The property is located at 622 Lous Way Slinger, WI.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Side‑by‑side duplex at 622 Lous Way, Slinger, WI 53086; Each unit includes an attached 2‑car garage and private entrance; 4‑bedroom unit has 2 full baths, a den, and approximately 1,960 sq. ft.
