Duplex-Style Residential
New
For Sale
$350,000
115 W Newhall Ave, Waukesha, WI 53186
An original two-unit layout offers added living space while the property currently operates as one residence.
Property Size1,643 SF
Price / SF$213.02
Days on Market3
Property Features for 115 W Newhall Ave
General Information
Standard status
Active
Size
1,643 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1915
Listing Agency:
V-Group, LLC
Listed By:
Victoria Hekkers · License #9058121
(262) 650-8544
Source:
Nikolicgroup
Added: Sep 14
Last Checked: Sep 16 at 1:01AM
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 V-Group, LLC
Investment Insights
Based on property information with market context.
Built in 1915, this 1,643-square-foot duplex-style property is currently arranged for single-family living. The original two-unit configuration provides expanded interior space, including large bedrooms, while maintaining the flexibility associated with the existing layout. A front porch and landscaped yard with perennial plantings add exterior character.
The property is located at 115 W Newhall Ave in Waukesha, Wisconsin. Seller requires 30-day post-closing occupancy.
The property is located at 115 W Newhall Ave in Waukesha, Wisconsin. Seller requires 30-day post-closing occupancy.
Key Highlights
- Duplex‑style property currently used as a single‑family residence
- 1,643 square feet with an original two‑unit layout
- Built in 1915
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
$18,848
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
5.39%
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%
$376,960
$377.0K
Cap Rate 7%
$269,257
$269.3K
Cap Rate 9%
$209,422
$209.4K
Market Conditions
NOI Build-Up for 1,643 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
$28.2K $17.16/SF
− Vacancy
−$1.3K −$0.77/SF
EGI
$26.9K $16.39/SF
− OpEx
−$8.1K −$4.92/SF
NOI
$18.8K $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%
$376,960
Cap Rate 7%
$269,257
Cap Rate 9%
$209,422
Alternative Uses
Best Use
Multifamily LT 5
$269.3K
$235.6K – $314.1K
NOI $18,848 @ 7.0% cap · market cap 5.39%
Second Best
Apartment 5plus
$249.3K
$218.2K – $290.9K
NOI $17,452 @ 7.0% cap · market cap 4.99%
Theoretical Best
Flex RnD
$838.5K
$733.7K – $978.3K
NOI $58,698 @ 7.0% cap · market cap 16.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
340
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - An original two-unit layout offers added living space while the property currently operates as one residence.
Where is this duplex located?
The property is located at 115 W Newhall Ave Waukesha, WI.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Duplex‑style property currently used as a single‑family residence; 1,643 square feet with an original two‑unit layout; Built in 1915
