Updated Two-Unit
For Sale
$329,900
1035 E Potter Ave, Milwaukee, WI 53207
Two-bedroom residences feature off-street parking, interior improvements, and a fenced backyard near Kinnickinnic Avenue.
Property Size1,538 SF
Price / SF$214.50
Days on Market62
Property Features for 1035 E Potter Ave
General Information
Standard status
Active
Size
1,538 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$5,298
Listing Agency:
Keller Williams Milwaukee North Shore
(920) 858-8548
Listed By:
Stephen Law · License #97837-94
(920) 858-8548
Source:
Exprealty
Added: Jun 23
Changed: Aug 20
Last Checked: Aug 22 at 10:00AM
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 Keller Williams Milwaukee North Shore
Investment Insights
Based on property information with market context.
This 1,538-square-foot duplex contains two residences, each with two bedrooms and updates throughout. The property also includes off-street parking and a fenced backyard, providing dedicated exterior space for the occupants.
Kinnickinnic Avenue is nearby, with restaurants, shops, bars, and nightlife within the surrounding area. One unit is expected to be vacant at closing, while the second is occupied by an existing tenant, providing flexibility for an owner-occupant or investor.
Kinnickinnic Avenue is nearby, with restaurants, shops, bars, and nightlife within the surrounding area. One unit is expected to be vacant at closing, while the second is occupied by an existing tenant, providing flexibility for an owner-occupant or investor.
Key Highlights
- 1,538‑square‑foot duplex with two two‑bedroom units
- Each residence includes updates throughout
- Off‑street parking included
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
$15,471
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
4.69%
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%
$309,420
$309.4K
Cap Rate 7%
$221,014
$221.0K
Cap Rate 9%
$171,900
$171.9K
Market Conditions
NOI Build-Up for 1,538 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
$23.1K $15.00/SF
− Vacancy
−$969 −$0.63/SF
EGI
$22.1K $14.37/SF
− OpEx
−$6.6K −$4.31/SF
NOI
$15.5K $10.06/SF
Area
Milwaukee, WI
Vacancy
4.20%
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%
$309,420
Cap Rate 7%
$221,014
Cap Rate 9%
$171,900
Alternative Uses
Best Use
Multifamily LT 5
$221.0K
$193.4K – $257.9K
NOI $15,471 @ 7.0% cap · market cap 4.69%
Second Best
Apartment 5plus
$204.6K
$179.1K – $238.8K
NOI $14,325 @ 7.0% cap · market cap 4.34%
Theoretical Best
Office A
$369.6K
$323.4K – $431.2K
NOI $25,872 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
715
Businesses Nearby
Explore this area
Business Placement
Demographics for 53207, WI
34,292
Population
17,278
Households
2
Avg Household Size
37
Median Age
45%
College-Educated
94%
High-School Grad
10.0 sq mi
ZIP Area
3,429
Density / Sq Mi
$79,576
Median Household Income
$53,886
Median Earnings
$1,145
Median Rent
$228,500
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-bedroom residences feature off-street parking, interior improvements, and a fenced backyard near Kinnickinnic Avenue.
Where is this duplex located?
The property is located at 1035 E Potter Ave Milwaukee, WI.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: 1,538‑square‑foot duplex with two two‑bedroom units; Each residence includes updates throughout; Off‑street parking included
