Duplex with Fenced
New
For Sale
$169,000
3800 N 24th Pl Unit 3802, Milwaukee, WI 53206
Two-unit property with a detached garage, extra storage, and outdoor space enclosed by fencing.
Property Size1,143 SF
Price / SF$147.86
Days on Market4
Property Features for 3800 N 24th Pl Unit 3802
General Information
Standard status
Active
Size
1,143 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Amenities
fenced-in yard
storage space
Building Details
Year Built
1924
Listing Agency:
ACTS CDC
Listed By:
Jenean Shorter
(414) 737-5160
Source:
Jwregwi
Added: Sep 5
Changed: Sep 6
Last Checked: Sep 7 at 1:18PM
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 ACTS CDC
Investment Insights
Based on property information with market context.
Built in 1924, this duplex contains 1,143 square feet and offers two separate residential units. Each unit includes comfortable living areas, well-sized bedrooms, and natural light. Exterior features include a large fenced yard, a two-car garage, and additional storage space.
The property is located at 3800 N 24th Pl Unit 3802 in Milwaukee, near shopping, schools, public transportation, and neighborhood amenities. Its two-unit layout supports owner occupancy with rental income from the second unit or continued use as a multifamily investment property.
The property is located at 3800 N 24th Pl Unit 3802 in Milwaukee, near shopping, schools, public transportation, and neighborhood amenities. Its two-unit layout supports owner occupancy with rental income from the second unit or continued use as a multifamily investment property.
Key Highlights
- Two‑unit duplex totaling 1,143 square feet
- Built in 1924
- Large fenced yard
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
$11,497
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
6.80%
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%
$229,940
$229.9K
Cap Rate 7%
$164,243
$164.2K
Cap Rate 9%
$127,744
$127.7K
Market Conditions
NOI Build-Up for 1,143 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
$17.1K $15.00/SF
− Vacancy
−$720 −$0.63/SF
EGI
$16.4K $14.37/SF
− OpEx
−$4.9K −$4.31/SF
NOI
$11.5K $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%
$229,940
Cap Rate 7%
$164,243
Cap Rate 9%
$127,744
Alternative Uses
Best Use
Multifamily LT 5
$164.2K
$143.7K – $191.6K
NOI $11,497 @ 7.0% cap · market cap 6.80%
Second Best
Apartment 5plus
$152.1K
$133.1K – $177.4K
NOI $10,646 @ 7.0% cap · market cap 6.30%
Theoretical Best
Office A
$274.7K
$240.3K – $320.5K
NOI $19,227 @ 7.0% cap · market cap 11.38%
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
462
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 - Two-unit property with a detached garage, extra storage, and outdoor space enclosed by fencing.
Where is this duplex located?
The property is located at 3800 N 24th Pl Unit 3802 Milwaukee, WI.
What is the asking price?
The asking price for this property is $169,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,143 square feet; Built in 1924; Large fenced yard
