Two-Unit Duplex with Shared
625 S 3rd Ave #627, West Bend, WI 53095
For Sale
New
$279,900
Pending
Separate gas and electric accounts are paid by occupants, with water and sewer costs divided between the two units.
Property Size2,031 SF
Days on Market6
Property Features for 625 S 3rd Ave #627
General Information
Standard status
Size
Property subtype
Occupancy
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Tenant in Place
Building Details
Year Built
Listing Agency:
Coldwell Banker Realty
Listed By:
Sarah Peterson · License WI #40265
Source:
Milwaukeeforeverhome
Added: Nov 4
Changed: Nov 6
Last Checked: Nov 8 at 3:02AM
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 Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
This 2,031-square-foot duplex, built in 1929, contains two apartments, each with 2 bedrooms and 1 bathroom. Both units use a shared 2.5-car garage. A full basement is divided into two sections for separate storage and includes space for laundry. Hardwood floors run throughout, and the lower apartment features detailed woodwork and a built-in buffet in its formal dining room. The roof was replaced in 2020.
The upper apartment is vacant, while the lower apartment is occupied by a long-term tenant. Occupants pay their own gas and electric bills, and water and sewer costs are split between the units.
The upper apartment is vacant, while the lower apartment is occupied by a long-term tenant. Occupants pay their own gas and electric bills, and water and sewer costs are split between the units.
Key Highlights
- Two apartments, each with 2 bedrooms and 1 bathroom, in a 2,031‑square‑foot building
- Shared 2.5‑car garage
- Full basement divided into two sections for storage, with laundry space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,534
Cap Rate
7.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$430,680
$430.7K
Cap Rate 7%
$307,629
$307.6K
Cap Rate 9%
$239,267
$239.3K
Market Conditions
NOI Build-Up for 2,031 SF
Gross rent
$32.9K $16.20/SF
− Vacancy
−$2.1K −$1.05/SF
EGI
$30.8K $15.15/SF
− OpEx
−$9.2K −$4.54/SF
NOI
$21.5K $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 Rate 5%
$430,680
Cap Rate 7%
$307,629
Cap Rate 9%
$239,267
Alternative Uses
Best Use
Multifamily LT 5
$307.6K
$269.2K – $358.9K
NOI $21,534 @ 7.0% cap · market cap 7.69%
Second Best
Apartment 5plus
$276.0K
$241.5K – $322.0K
NOI $19,320 @ 7.0% cap · market cap 6.90%
Theoretical Best
Office A
$558.4K
$488.6K – $651.4K
NOI $39,085 @ 7.0% cap · market cap 13.96%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
50%
Occupancy
Location Intelligence
Trade Area within ½ mile
617
Businesses Nearby
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Business Placement
Demographics for 53095, WI
27,269
Population
12,741
Households
2.1
Avg Household Size
45
Median Age
32%
College-Educated
96%
High-School Grad
70.4 sq mi
ZIP Area
387
Density / Sq Mi
$82,219
Median Household Income
$49,779
Median Earnings
$1,015
Median Rent
$286,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Separate gas and electric accounts are paid by occupants, with water and sewer costs divided between the two units.
Where is this duplex located?
The property is located at 625 S 3rd Ave #627 West Bend, WI.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: Two apartments, each with 2 bedrooms and 1 bathroom, in a 2,031‑square‑foot building; Shared 2.5‑car garage; Full basement divided into two sections for storage, with laundry space
