Three-Bedroom
For Sale
$265,000
6522 28th Ave, Kenosha, WI 53143
Two-unit property with separate utilities and updated boilers and water heaters.
Property Size1,848 SF
Price / SF$143.40
Days on Market35
Property Features for 6522 28th Ave
General Information
Standard status
Active
Size
1,848 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
2
Building Details
Year Built
1916
Listing Agency:
Realty ONE Group Boardwalk
(262) 995-4909
Listed By:
EZ Realty Team* · License #9174894
Source:
Nikolicgroup
Added: Jul 29
Changed: Aug 29
Last Checked: Aug 30 at 8:44PM
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 Realty ONE Group Boardwalk
Investment Insights
Based on property information with market context.
This two-unit residential income property offers three bedrooms in each unit and 1,848 square feet of total property size. The building dates to 1916 and includes newer boilers and water heaters. Utility systems are separately metered, with residents responsible for utilities other than water and sewer.
Both units are currently occupied. The property is located at 6522 28th Ave in Kenosha, Wisconsin, providing an established duplex configuration for an investor or owner occupant.
Both units are currently occupied. The property is located at 6522 28th Ave in Kenosha, Wisconsin, providing an established duplex configuration for an investor or owner occupant.
Key Highlights
- Three bedrooms in each unit
- 1,848 SF duplex built in 1916
- Both units currently occupied
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
$18,240
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
6.88%
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%
$364,800
$364.8K
Cap Rate 7%
$260,571
$260.6K
Cap Rate 9%
$202,667
$202.7K
Market Conditions
NOI Build-Up for 1,848 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
$27.7K $15.00/SF
− Vacancy
−$1.7K −$0.90/SF
EGI
$26.1K $14.10/SF
− OpEx
−$7.8K −$4.23/SF
NOI
$18.2K $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%
$364,800
Cap Rate 7%
$260,571
Cap Rate 9%
$202,667
Alternative Uses
Best Use
Multifamily LT 5
$260.6K
$228.0K – $304.0K
NOI $18,240 @ 7.0% cap · market cap 6.88%
Second Best
Apartment 5plus
$241.3K
$211.1K – $281.5K
NOI $16,889 @ 7.0% cap · market cap 6.37%
Theoretical Best
Warehouse
$2.15M
$1.88M – $2.51M
NOI $150,605 @ 7.0% cap · market cap 56.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
807
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with separate utilities and updated boilers and water heaters.
Where is this duplex located?
The property is located at 6522 28th Ave Kenosha, WI.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Three bedrooms in each unit; 1,848 SF duplex built in 1916; Both units currently occupied
