Updated Two-Unit
937 Grove Ave, Racine, WI 53405
For Sale
New
$199,900
R2-zoned property offers separate one- and two-bedroom layouts, a detached garage, and basement laundry.
Property Size1,372 SF
Price / SF$145.70
Days on Market5
Property Features for 937 Grove Ave
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Units
Unit Mix
Multifamily Units
Amenities
porch
laundry
Building Details
Year Built
Listing Agency:
Keating Real Estate
Listed By:
Realty Executives Southeast
(262) 443-0030
Source:
Therealestatestudiowi
Added: Nov 3
Changed: Nov 6
Last Checked: Nov 6 at 9:09AM
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 Keating Real Estate
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Investment Insights
Based on property information with market context.
This duplex, built in 1900, contains two distinct residences: a lower-level one-bedroom unit and an upper-level two-bedroom unit. The lower unit has an updated bathroom, kitchen, flooring, windows, furnace, and porch. The upper unit includes an updated bathroom and two additional rooms suitable for office or family-room use. A full basement provides laundry, and a detached two-car garage serves the property. The roof is newer, and the exterior has been freshly painted.
Zoning is R2. The property is located at 937 Grove Ave in Racine, Wisconsin.
Zoning is R2. The property is located at 937 Grove Ave in Racine, Wisconsin.
Key Highlights
- Two units: a lower‑level 1‑bedroom and an upper‑level 2‑bedroom layout
- R2 zoning
- Detached 2‑car garage and full basement with laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,967
Cap Rate
7.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$299,340
$299.3K
Cap Rate 7%
$213,814
$213.8K
Cap Rate 9%
$166,300
$166.3K
Market Conditions
NOI Build-Up for 1,372 SF
Gross rent
$22.2K $16.20/SF
− Vacancy
−$845 −$0.62/SF
EGI
$21.4K $15.58/SF
− OpEx
−$6.4K −$4.68/SF
NOI
$15.0K $10.91/SF
Area
Racine County, WI
Vacancy
3.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$299,340
Cap Rate 7%
$213,814
Cap Rate 9%
$166,300
Alternative Uses
Best Use
Multifamily LT 5
$213.8K
$187.1K – $249.5K
NOI $14,967 @ 7.0% cap · market cap 7.49%
Second Best
Apartment 5plus
$186.3K
$163.0K – $217.3K
NOI $13,039 @ 7.0% cap · market cap 6.52%
Theoretical Best
Office A
$329.9K
$288.7K – $384.9K
NOI $23,096 @ 7.0% cap · market cap 11.55%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
375
Businesses Nearby
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Business Placement
Demographics for 53405, WI
25,561
Population
11,509
Households
2.2
Avg Household Size
39
Median Age
26%
College-Educated
90%
High-School Grad
6.6 sq mi
ZIP Area
3,873
Density / Sq Mi
$68,339
Median Household Income
$40,162
Median Earnings
$946
Median Rent
$173,600
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Racine County, WI
Properties on Market for Duplexes in Racine County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - R2-zoned property offers separate one- and two-bedroom layouts, a detached garage, and basement laundry.
Where is this duplex located?
The property is located at 937 Grove Ave Racine, WI.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Two units: a lower‑level 1‑bedroom and an upper‑level 2‑bedroom layout; R2 zoning; Detached 2‑car garage and full basement with laundry
