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    1845 N Warren Ave Milwaukee, WI 53202

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    Sponsored
    For Sale
    $750,000

    2 Houses on One Lot,Duplex/2 Story - Milwaukee, WI

    Lot size:
    0.12 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 31 at 5:06 am

    Property Features for 1845 N Warren Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Res
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Bedrooms
    5
    Bathrooms
    2
    APN
    3550680000
    Parking features
    Driveway, Paved or Surfaced
    Appliances
    Dishwasher, Dryer, Refrigerator, Washer
    Lot size
    0.12 Acres

    Utilities

    Heating system
    Forced Air

    Building Details

    Year built
    1925
    Floors in Building
    2
    Building materials
    Brick
    Architectural style
    Other

    We can help!

    Listing Contact
    William Lauer Group*

    Juniper Real Estate LLC dba Keller Williams Realty Milwaukee North Shore

    Listing agent William Lauer Group* License #86953-94

    Listing date Mar 30, 2026

    MLS# 1955634 Listing URL

    Copyright © 2026 Metro MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    East Side Duplex Plus Cottage

    This property features a duplex and a cottage, situated steps from Brady Street on Milwaukee's Lower East Side. The updated upper unit of the duplex includes a gourmet kitchen with granite countertops, stone backsplash, an island, and high-end appliances. The unit also features hardwood floors, coved ceilings, built-ins, and a spa-like bath with a jetted tub. The lower unit offers a spacious three-bedroom layout with a large kitchen, refinished hardwood floors, original woodwork, and character. A two-bedroom cottage provides additional flexibility for rental or guest use. The property includes central air conditioning and private laundry facilities. The two-bedroom back cottage is currently rented to a long-term tenant for $1190 per month. The property is zoned for residential use and is located on a lot of 0.12 acres. The location provides convenient access to shops, dining, and coffee shops.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Milwaukee
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -87.894089
    Latitude
    43.055437

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    FAQs

    What type of property is this?
    Duplex - Updated duplex with cottage near Brady Street in Milwaukee.
    Where is this duplex located?
    The property is located at 1845 N Warren Ave Milwaukee, WI.
    What is the asking price?
    The asking price for this property is $750,000.
    What are key features of this property?
    This property features: - Updated upper duplex featuring a gourmet kitchen with granite countertops, stone backsplash, island, and high-end appliances, as well as a spa-like bath.; - Includes a separate 2BR cottage providing $1190/month rental income or guest accommodations.; - Lower unit offers a spacious 3BR with refinished hardwoods and original woodwork.
    (414) 962-3605
    Request Owner's contact information
    1845 N Warren Ave Milwaukee, WI 53202
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    Milwaukee, WI 53202
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1845 N Warren Ave Milwaukee, WI 53202
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    We can help!
    Listing Contact
    William Lauer Group*
    Real Estate License ID: 86953-94
    Learn More
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