Updated 3/3
New
For Sale
$339,900
422 S 70th St Unit 424, Milwaukee, WI 53214
Separate utilities, wood flooring, main-floor laundry, and off-street parking support practical owner-occupant or rental use.
Property Size1,031 SF
Price / SF$329.68
Days on Market6
Property Features for 422 S 70th St Unit 424
General Information
Standard status
Active
Size
1,031 SF
Property subtype
Multi-Family
Building Details
Year Built
1965
Listing Agency:
Shorewest Realtors, Inc.
Listed By:
Mikel Kollmansberger · License #5590690
(262) 548-9393
Source:
Jwregwi
Added: Sep 21
Last Checked: Sep 24 at 11:49AM
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 Shorewest Realtors, Inc.
Investment Insights
Based on property information with market context.
This 3/3 duplex, built in 1965, offers spacious interiors with abundant natural light, wood flooring, and updates throughout. Each unit benefits from separate utilities, while a dedicated main-floor laundry area adds functional convenience. Off-street parking is also included, and the property has an established rental history.
The property is located at 422 S 70th St Unit 424 in Milwaukee, near State Fair Park and AmFam Field. Freeway access is available nearby, providing connectivity for residents and commuters. The combination of a two-unit layout, separate utilities, laundry facilities, parking, and updated interior features supports both rental and owner-occupant use.
The property is located at 422 S 70th St Unit 424 in Milwaukee, near State Fair Park and AmFam Field. Freeway access is available nearby, providing connectivity for residents and commuters. The combination of a two-unit layout, separate utilities, laundry facilities, parking, and updated interior features supports both rental and owner-occupant use.
Key Highlights
- 3/3 duplex built in 1965
- Separate utilities for the units
- Expansive living areas with natural light and wood flooring
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
$10,371
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
3.05%
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%
$207,420
$207.4K
Cap Rate 7%
$148,157
$148.2K
Cap Rate 9%
$115,233
$115.2K
Market Conditions
NOI Build-Up for 1,031 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
$15.5K $15.00/SF
− Vacancy
−$650 −$0.63/SF
EGI
$14.8K $14.37/SF
− OpEx
−$4.4K −$4.31/SF
NOI
$10.4K $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%
$207,420
Cap Rate 7%
$148,157
Cap Rate 9%
$115,233
Alternative Uses
Best Use
Multifamily LT 5
$148.2K
$129.6K – $172.9K
NOI $10,371 @ 7.0% cap · market cap 3.05%
Second Best
Apartment 5plus
$137.2K
$120.0K – $160.1K
NOI $9,603 @ 7.0% cap · market cap 2.83%
Theoretical Best
Office A
$247.8K
$216.8K – $289.1K
NOI $17,343 @ 7.0% cap · market cap 5.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
751
Businesses Nearby
Explore this area
Business Placement
Demographics for 53214, WI
34,297
Population
17,530
Households
2
Avg Household Size
37
Median Age
28%
College-Educated
93%
High-School Grad
7.1 sq mi
ZIP Area
4,831
Density / Sq Mi
$62,712
Median Household Income
$46,304
Median Earnings
$999
Median Rent
$178,600
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 - Separate utilities, wood flooring, main-floor laundry, and off-street parking support practical owner-occupant or rental use.
Where is this duplex located?
The property is located at 422 S 70th St Unit 424 Milwaukee, WI.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: 3/3 duplex built in 1965; Separate utilities for the units; Expansive living areas with natural light and wood flooring
