Updated Duplex with Covered
For Sale
$499,000
9715 W Wisconsin Ave, Wauwatosa, WI 53226
Two residential units combine major system updates with hardwood flooring, in-unit laundry, and private outdoor spaces.
Property Size2,506 SF
Price / SF$199.12
Days on Market10
Property Features for 9715 W Wisconsin Ave
General Information
Standard status
Active
Size
2,506 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
hardwood floors
gas fireplace
private in-unit laundry
central air
covered patio
upper balcony
Building Details
Year Built
1954
Buildings
1
Listing Agency:
Porch Light Property Management & Real Estate
Listed By:
Joseph Hoffman
Source:
Nikolicgroup
Added: Aug 21
Changed: Aug 29
Last Checked: Aug 25 at 5:15AM
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 Porch Light Property Management & Real Estate
Investment Insights
Based on property information with market context.
This 1954 duplex contains two residential units with a 2/2 configuration. Interior features include hardwood floors, a gas fireplace in the lower unit, and private in-unit laundry in the upper unit. Recent improvements include a new roof, central air, new walkways, a sump pump, drain tile, and reinforced basement walls. Outdoor features include a covered patio, an upper balcony, and a backyard.
The property is located at 9715 W Wisconsin Ave in Wauwatosa, near Milwaukee Regional Medical Center and GE Medical. Wisconsin Avenue Park is three blocks away, placing the duplex within close reach of established medical and recreational destinations.
The property is located at 9715 W Wisconsin Ave in Wauwatosa, near Milwaukee Regional Medical Center and GE Medical. Wisconsin Avenue Park is three blocks away, placing the duplex within close reach of established medical and recreational destinations.
Key Highlights
- 2/2 duplex configuration
- New roof, central air, sump pump, and drain tile system
- Reinforced basement walls and new walkways
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
$26,855
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
5.38%
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%
$537,100
$537.1K
Cap Rate 7%
$383,643
$383.6K
Cap Rate 9%
$298,389
$298.4K
Market Conditions
NOI Build-Up for 2,506 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
$40.6K $16.20/SF
− Vacancy
−$2.2K −$0.89/SF
EGI
$38.4K $15.31/SF
− OpEx
−$11.5K −$4.59/SF
NOI
$26.9K $10.72/SF
Area
Milwaukee County, WI
Vacancy
5.50%
Lease Rate
$16.20 /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%
$537,100
Cap Rate 7%
$383,643
Cap Rate 9%
$298,389
Alternative Uses
Best Use
Multifamily LT 5
$383.6K
$335.7K – $447.6K
NOI $26,855 @ 7.0% cap · market cap 5.38%
Second Best
Apartment 5plus
$342.7K
$299.9K – $399.8K
NOI $23,990 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$594.3K
$520.0K – $693.3K
NOI $41,598 @ 7.0% cap · market cap 8.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,105
Businesses Nearby
Explore this area
Business Placement
Demographics for 53226, WI
19,921
Population
8,912
Households
2.2
Avg Household Size
37
Median Age
60%
College-Educated
97%
High-School Grad
6.8 sq mi
ZIP Area
2,930
Density / Sq Mi
$86,361
Median Household Income
$57,753
Median Earnings
$1,348
Median Rent
$301,400
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 residential units combine major system updates with hardwood flooring, in-unit laundry, and private outdoor spaces.
Where is this duplex located?
The property is located at 9715 W Wisconsin Ave Wauwatosa, WI.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 2/2 duplex configuration; New roof, central air, sump pump, and drain tile system; Reinforced basement walls and new walkways
