Side-by-Side Duplex with
New
For Sale
$290,000
Pending
860 Genesee St, Waukesha, WI 53186
Two residential units offer eat-in kitchens, central air, private basements, and separate utility service.
Property Size1,332 SF
Days on Market6
Property Features for 860 Genesee St
General Information
Standard status
Pending
Size
1,332 SF
Total Parking Spaces
5
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
central air
laundry
eat-in kitchens
Building Details
Year Built
1952
Buildings
1
Listing Agency:
Shorewest Realtors, Inc.
(262) 786-4000
Listed By:
Alan Alteri
Source:
Levelupwi
Added: Aug 25
Changed: Aug 28
Last Checked: Aug 29 at 12:07PM
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 Shorewest Realtors, Inc.
Investment Insights
Based on property information with market context.
This side-by-side duplex contains two residential units, each arranged with two bedrooms, one full bathroom, and an eat-in kitchen. Both sides include a full separate basement with laundry and storage, while central air serves the building. Replacement windows and a low-maintenance exterior add to the property’s physical improvements.
The property is located at 860 Genesee St in Waukesha, Wisconsin. Separate utilities include two water meters, and the site provides five off-street parking spaces. The building was constructed in 1952.
The property is located at 860 Genesee St in Waukesha, Wisconsin. Separate utilities include two water meters, and the site provides five off-street parking spaces. The building was constructed in 1952.
Key Highlights
- Side‑by‑side duplex with two separate residential units
- Each unit includes 2 bedrooms, 1 full bathroom, and an eat‑in kitchen
- Full separate basements provide laundry and storage for each unit
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
$15,280
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
5.27%
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%
$305,600
$305.6K
Cap Rate 7%
$218,286
$218.3K
Cap Rate 9%
$169,778
$169.8K
Market Conditions
NOI Build-Up for 1,332 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
$22.9K $17.16/SF
− Vacancy
−$1.0K −$0.77/SF
EGI
$21.8K $16.39/SF
− OpEx
−$6.5K −$4.92/SF
NOI
$15.3K $11.47/SF
Area
Waukesha County, WI
Vacancy
4.50%
Lease Rate
$17.16 /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%
$305,600
Cap Rate 7%
$218,286
Cap Rate 9%
$169,778
Alternative Uses
Best Use
Multifamily LT 5
$218.3K
$191.0K – $254.7K
NOI $15,280 @ 7.0% cap · market cap 5.27%
Second Best
Apartment 5plus
$202.1K
$176.9K – $235.8K
NOI $14,149 @ 7.0% cap · market cap 4.88%
Theoretical Best
Flex RnD
$679.8K
$594.8K – $793.1K
NOI $47,587 @ 7.0% cap · market cap 16.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
512
Businesses Nearby
Explore this area
Business Placement
Demographics for 53186, WI
32,332
Population
15,066
Households
2.1
Avg Household Size
38
Median Age
39%
College-Educated
95%
High-School Grad
12.6 sq mi
ZIP Area
2,566
Density / Sq Mi
$74,596
Median Household Income
$42,007
Median Earnings
$1,180
Median Rent
$277,800
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 - Two residential units offer eat-in kitchens, central air, private basements, and separate utility service.
Where is this duplex located?
The property is located at 860 Genesee St Waukesha, WI.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Side‑by‑side duplex with two separate residential units; Each unit includes 2 bedrooms, 1 full bathroom, and an eat‑in kitchen; Full separate basements provide laundry and storage for each unit
