Two-Unit Duplex with Off-Street
For Sale
$229,900
4858 N 54th St, Milwaukee, WI 53218
Separate residences offer distinct living rooms and full bathrooms, with two bedrooms downstairs and one bedroom upstairs.
Property Size1,039 SF
Price / SF$221.27
Days on Market32
Property Features for 4858 N 54th St
General Information
Standard status
Active
Size
1,039 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Building Details
Year Built
1937
Listing Agency:
Keller Williams-MNS Wauwatosa
(414) 962-3605
Listed By:
Holly Speranza · License #56826
Source:
Levelupwi
Added: Jul 30
Changed: Aug 29
Last Checked: Aug 25 at 5:00AM
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-MNS Wauwatosa
Investment Insights
Based on property information with market context.
Built in 1937, this Milwaukee duplex includes two separate residences with practical layouts. The lower unit has two bedrooms, a living room, and a full bathroom, while the upper unit provides one bedroom, a living room, and a full bathroom. A driveway connects to an off-street parking slab.
The property is positioned on Milwaukee’s northwest side near Silver Spring Dr. Grocery stores, restaurants, parks, schools, public transportation, and other neighborhood amenities are nearby. Timmerman Airport, McGovern Park, Midtown Center, and Lincoln Creek are within minutes, with access to Fond du Lac Ave, Capitol Dr, and major commuting routes.
The property is positioned on Milwaukee’s northwest side near Silver Spring Dr. Grocery stores, restaurants, parks, schools, public transportation, and other neighborhood amenities are nearby. Timmerman Airport, McGovern Park, Midtown Center, and Lincoln Creek are within minutes, with access to Fond du Lac Ave, Capitol Dr, and major commuting routes.
Key Highlights
- Two‑unit duplex with a 2‑bedroom lower residence and 1‑bedroom upper residence
- Each unit includes a living room and full bathroom
- Driveway leads to an off‑street parking slab
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
$11,016
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
4.79%
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%
$220,320
$220.3K
Cap Rate 7%
$157,371
$157.4K
Cap Rate 9%
$122,400
$122.4K
Market Conditions
NOI Build-Up for 1,039 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
$16.8K $16.20/SF
− Vacancy
−$1.1K −$1.05/SF
EGI
$15.7K $15.15/SF
− OpEx
−$4.7K −$4.54/SF
NOI
$11.0K $10.60/SF
Area
ZIP 53218
Vacancy
6.50%
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%
$220,320
Cap Rate 7%
$157,371
Cap Rate 9%
$122,400
Alternative Uses
Best Use
Multifamily LT 5
$157.4K
$137.7K – $183.6K
NOI $11,016 @ 7.0% cap · market cap 4.79%
Second Best
Apartment 5plus
$141.2K
$123.5K – $164.7K
NOI $9,883 @ 7.0% cap · market cap 4.30%
Theoretical Best
Warehouse
$787.6K
$689.1K – $918.8K
NOI $55,129 @ 7.0% cap · market cap 23.98%
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
393
Businesses Nearby
Explore this area
Business Placement
Demographics for 53218, WI
38,488
Population
15,971
Households
2.4
Avg Household Size
31
Median Age
10%
College-Educated
83%
High-School Grad
5.9 sq mi
ZIP Area
6,523
Density / Sq Mi
$42,207
Median Household Income
$33,622
Median Earnings
$1,034
Median Rent
$122,200
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 - Separate residences offer distinct living rooms and full bathrooms, with two bedrooms downstairs and one bedroom upstairs.
Where is this duplex located?
The property is located at 4858 N 54th St Milwaukee, WI.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: Two‑unit duplex with a 2‑bedroom lower residence and 1‑bedroom upper residence; Each unit includes a living room and full bathroom; Driveway leads to an off‑street parking slab
