Duplex with Detached
For Sale
$299,900
2745 N Humboldt Blvd, Milwaukee, WI 53212
Two-unit property with one vacant residence, an occupied upper unit, and original interior details.
Property Size2,476 SF
Price / SF$121.12
Days on Market8
Property Features for 2745 N Humboldt Blvd
General Information
Standard status
Active
Size
2,476 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Building Details
Year Built
1913
Buildings
1
Listing Agency:
Riverwest Realty Milwaukee
Listed By:
Lance Wooten Team* · License #5737190
(414) 502-1775
Source:
Levelupwi
Added: Sep 20
Changed: Sep 21
Last Checked: Sep 26 at 12:45PM
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 Riverwest Realty Milwaukee
Investment Insights
Based on property information with market context.
This 2,476-square-foot duplex, built in 1913, combines two residential units with distinct occupancy arrangements. The lower residence is vacant and includes wood trim, stained-glass features, and built-in china cabinets. The upper unit is occupied by long-term tenants. A detached garage provides parking for two vehicles.
Located at 2745 N Humboldt Blvd in Milwaukee’s Riverwest neighborhood, the property is near local restaurants, coffee shops, nightlife, and public transportation. The combination of an available lower unit, an established upper tenancy, period details, and detached parking gives the building a flexible owner-occupant or investment configuration.
Located at 2745 N Humboldt Blvd in Milwaukee’s Riverwest neighborhood, the property is near local restaurants, coffee shops, nightlife, and public transportation. The combination of an available lower unit, an established upper tenancy, period details, and detached parking gives the building a flexible owner-occupant or investment configuration.
Key Highlights
- 2,476‑square‑foot duplex built in 1913
- Vacant lower unit with woodwork, stained glass, and built‑in china cabinets
- Upper unit occupied by long‑term tenants
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
$24,906
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
8.30%
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%
$498,120
$498.1K
Cap Rate 7%
$355,800
$355.8K
Cap Rate 9%
$276,733
$276.7K
Market Conditions
NOI Build-Up for 2,476 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
$37.1K $15.00/SF
− Vacancy
−$1.6K −$0.63/SF
EGI
$35.6K $14.37/SF
− OpEx
−$10.7K −$4.31/SF
NOI
$24.9K $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%
$498,120
Cap Rate 7%
$355,800
Cap Rate 9%
$276,733
Alternative Uses
Best Use
Multifamily LT 5
$355.8K
$311.3K – $415.1K
NOI $24,906 @ 7.0% cap · market cap 8.30%
Second Best
Apartment 5plus
$329.4K
$288.3K – $384.4K
NOI $23,061 @ 7.0% cap · market cap 7.69%
Theoretical Best
Office A
$595.0K
$520.6K – $694.2K
NOI $41,650 @ 7.0% cap · market cap 13.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
652
Businesses Nearby
Explore this area
Business Placement
Demographics for 53212, WI
28,702
Population
15,749
Households
1.8
Avg Household Size
32
Median Age
37%
College-Educated
91%
High-School Grad
4.1 sq mi
ZIP Area
7,000
Density / Sq Mi
$42,679
Median Household Income
$36,578
Median Earnings
$1,038
Median Rent
$204,300
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 - Two-unit property with one vacant residence, an occupied upper unit, and original interior details.
Where is this duplex located?
The property is located at 2745 N Humboldt Blvd Milwaukee, WI.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 2,476‑square‑foot duplex built in 1913; Vacant lower unit with woodwork, stained glass, and built‑in china cabinets; Upper unit occupied by long‑term tenants
