Renovated Duplex with Shared
For Sale
$210,000
1322 W Concordia Ave, Milwaukee, WI 53206
Both tenant-occupied units offer two bedrooms and one bathroom in a fully updated rental property.
Property Size1,855 SF
Price / SF$113.21
Days on Market33
Property Features for 1322 W Concordia Ave
General Information
Standard status
Active
Size
1,855 SF
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,560
Building Details
Year Renovated
2026
Buildings
1
Listing Agency:
EXP Realty, LLC~MKE
(414) 412-7887
Listed By:
Kailan Boston · License #87863-94
(414) 412-7887
Source:
Exprealty
Added: Jul 30
Changed: Aug 30
Last Checked: Aug 31 at 12:11AM
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 EXP Realty, LLC~MKE
Investment Insights
Based on property information with market context.
Located at 1322 W Concordia Ave in Milwaukee, this duplex contains two residential units, each with two bedrooms and one bathroom. The property was fully renovated in 2026, with updates spanning the roof, vinyl siding, windows, gutters, drywall, flooring, trim, paint, cabinets, faucets, and other interior finishes.
Both units are currently tenant-occupied. A shared 2.5-car garage provides on-site parking and is accessible from the alley. The property is also situated near public transportation options and major highway connections, supporting convenient access for residents.
Both units are currently tenant-occupied. A shared 2.5-car garage provides on-site parking and is accessible from the alley. The property is also situated near public transportation options and major highway connections, supporting convenient access for residents.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom in each unit
- Fully renovated in 2026
- Both units are currently tenant‑occupied
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
$18,659
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
8.89%
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%
$373,180
$373.2K
Cap Rate 7%
$266,557
$266.6K
Cap Rate 9%
$207,322
$207.3K
Market Conditions
NOI Build-Up for 1,855 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
$27.8K $15.00/SF
− Vacancy
−$1.2K −$0.63/SF
EGI
$26.7K $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 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%
$373,180
Cap Rate 7%
$266,557
Cap Rate 9%
$207,322
Alternative Uses
Best Use
Multifamily LT 5
$266.6K
$233.2K – $311.0K
NOI $18,659 @ 7.0% cap · market cap 8.89%
Second Best
Apartment 5plus
$246.8K
$216.0K – $288.0K
NOI $17,277 @ 7.0% cap · market cap 8.23%
Theoretical Best
Office A
$445.8K
$390.1K – $520.1K
NOI $31,204 @ 7.0% cap · market cap 14.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
414
Businesses Nearby
Explore this area
Business Placement
Demographics for 53206, WI
22,816
Population
10,077
Households
2.3
Avg Household Size
32
Median Age
7%
College-Educated
82%
High-School Grad
2.7 sq mi
ZIP Area
8,450
Density / Sq Mi
$28,995
Median Household Income
$25,655
Median Earnings
$998
Median Rent
$70,800
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 - Both tenant-occupied units offer two bedrooms and one bathroom in a fully updated rental property.
Where is this duplex located?
The property is located at 1322 W Concordia Ave Milwaukee, WI.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bathroom in each unit; Fully renovated in 2026; Both units are currently tenant‑occupied
