Duplex with Shared
625 S 3rd Ave, West Bend, WI 53095
For Sale
New
$279,900
Two separate apartments provide two bedrooms and one bathroom apiece, with basement storage and laundry hookups for each household.
Property Size2,031 SF
Price / SF$137.81
Days on Market6
Property Features for 625 S 3rd Ave
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Tenant in Place
Building Details
Year Built
Tenancy
Listing Agency:
Joseph Scott Real Estate LLC
Listed By:
Avenue Real Estate
(920) 893-3001
Source:
Avenueret
Added: Nov 4
Changed: Nov 8
Last Checked: Nov 8 at 5:34AM
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 Joseph Scott Real Estate LLC
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Investment Insights
Based on property information with market context.
This 1929 duplex contains two apartments, each configured with two bedrooms and one bathroom. Hardwood flooring and wood trim run throughout, with a built-in buffet in the lower unit’s formal dining room. Both apartments share a 2.5-car garage, while the full basement is divided into two sections for separate storage and washer/dryer access.
The roof was replaced in 2020. Utility billing is divided between occupants: each pays separate gas and electric charges, and water and sewer costs are split. The upper apartment is vacant; the lower apartment is occupied by a long-term tenant.
The roof was replaced in 2020. Utility billing is divided between occupants: each pays separate gas and electric charges, and water and sewer costs are split. The upper apartment is vacant; the lower apartment is occupied by a long-term tenant.
Key Highlights
- Two apartments, each with 2 bedrooms and 1 bathroom
- 2.5‑car shared garage
- Full basement divided into separate tenant storage and washer/dryer areas
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
Single-tenant
Tenancy
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 - Two separate apartments provide two bedrooms and one bathroom apiece, with basement storage and laundry hookups for each household.
Where is this duplex located?
The property is located at 625 S 3rd Ave 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; 2.5‑car shared garage; Full basement divided into separate tenant storage and washer/dryer areas
