Two-Unit Duplex with
For Sale
$419,900
3154 S Nevada St, Milwaukee, WI 53207
Vacant two-bedroom units include hardwood floors, appliances, private storage, and separate laundry areas.
Property Size1,863 SF
Price / SF$225.39
Days on Market56
Property Features for 3154 S Nevada St
General Information
Standard status
Active
Size
1,863 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
refinished hardwood floors
natural woodwork
separate basement storage area
separate basement laundry area
fenced-in private yard
mature landscaping
storage shed
gas fireplace
large covered front porch
balcony
Building Details
Year Built
1927
Buildings
1
Listing Agency:
Lake Country Flat Fee
Listed By:
Paul Liebe · License #5158790
(262) 567-5700
Source:
Levelupwi
Added: Aug 12
Changed: Oct 2
Last Checked: Oct 5 at 10:18PM
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 Lake Country Flat Fee
Investment Insights
Based on property information with market context.
Built in 1927, this two-family duplex contains matching 2-bedroom, 1-bath residences on the main and upper levels. Both apartments are vacant and feature refinished hardwood flooring, natural woodwork, kitchen appliances, and individual basement storage and laundry areas. The main-level residence includes a gas fireplace, while the upper unit offers a balcony.
Exterior amenities include a fenced private yard with mature landscaping, a storage shed, a covered front porch, and a detached 2-car garage accessed from the alley. The property is in Bay View, with freeway access and walkable proximity to the lake, parks, and restaurants.
Exterior amenities include a fenced private yard with mature landscaping, a storage shed, a covered front porch, and a detached 2-car garage accessed from the alley. The property is in Bay View, with freeway access and walkable proximity to the lake, parks, and restaurants.
Key Highlights
- Two 2BR/1BA units, with one on the main level and one upstairs
- Both units are currently vacant
- Detached 2‑car garage with alley entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,740
Cap Rate
4.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$374,800
$374.8K
Cap Rate 7%
$267,714
$267.7K
Cap Rate 9%
$208,222
$208.2K
Market Conditions
NOI Build-Up for 1,863 SF
Gross rent
$27.9K $15.00/SF
− Vacancy
−$1.2K −$0.63/SF
EGI
$26.8K $14.37/SF
− OpEx
−$8.0K −$4.31/SF
NOI
$18.7K $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 Rate 5%
$374,800
Cap Rate 7%
$267,714
Cap Rate 9%
$208,222
Alternative Uses
Best Use
Multifamily LT 5
$267.7K
$234.3K – $312.3K
NOI $18,740 @ 7.0% cap · market cap 4.46%
Second Best
Apartment 5plus
$247.9K
$216.9K – $289.2K
NOI $17,352 @ 7.0% cap · market cap 4.13%
Theoretical Best
Office A
$447.7K
$391.7K – $522.3K
NOI $31,339 @ 7.0% cap · market cap 7.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
400
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
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Cap Rate, Value Estimation, Potential NOI and more
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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 - Vacant two-bedroom units include hardwood floors, appliances, private storage, and separate laundry areas.
Where is this duplex located?
The property is located at 3154 S Nevada St Milwaukee, WI.
What is the asking price?
The asking price for this property is $419,900.
What are key features of this property?
This property features: Two 2BR/1BA units, with one on the main level and one upstairs; Both units are currently vacant; Detached 2‑car garage with alley entrance
