Renovated
New
For Sale
$319,000
3116 S 9th St, Milwaukee, WI 53215
Two-bedroom units and a detached garage provide a practical residential configuration.
Property Size2,100 SF
Price / SF$151.90
Days on Market6
Property Features for 3116 S 9th St
General Information
Standard status
Active
Size
2,100 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
backyard firepit
Building Details
Year Built
1928
Buildings
1
Listing Agency:
Keller Williams Milwaukee North Shore
Listed By:
On Point Realty Group* · License #82189-94
(414) 962-3605
Source:
Levelupwi
Added: Oct 1
Changed: Oct 2
Last Checked: Oct 5 at 10:57PM
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 Milwaukee North Shore
Investment Insights
Based on property information with market context.
This 2,100-square-foot duplex, built in 1928, contains two renovated units, each with two bedrooms and one bathroom. Improvements include vinyl windows, air-conditioning equipment installed in 2022, water heaters from 2022, and furnaces dated 2022 and 2026.
The property also has a backyard with a built-in firepit and a 2.5-car garage. Located at 3116 S 9th St in Milwaukee, the building offers a defined two-unit layout with substantial garage capacity.
The property also has a backyard with a built-in firepit and a 2.5-car garage. Located at 3116 S 9th St in Milwaukee, the building offers a defined two-unit layout with substantial garage capacity.
Key Highlights
- Two renovated units, each with 2 bedrooms and 1 bathroom
- 2,100 square feet; built in 1928
- New vinyl windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,427
Cap Rate
7.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$488,540
$488.5K
Cap Rate 7%
$348,957
$349.0K
Cap Rate 9%
$271,411
$271.4K
Market Conditions
NOI Build-Up for 2,100 SF
Gross rent
$36.5K $17.40/SF
− Vacancy
−$1.6K −$0.78/SF
EGI
$34.9K $16.62/SF
− OpEx
−$10.5K −$4.99/SF
NOI
$24.4K $11.63/SF
Area
ZIP 53215
Vacancy
4.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$488,540
Cap Rate 7%
$348,957
Cap Rate 9%
$271,411
Alternative Uses
Best Use
Multifamily LT 5
$349.0K
$305.3K – $407.1K
NOI $24,427 @ 7.0% cap · market cap 7.66%
Second Best
Apartment 5plus
$313.0K
$273.9K – $365.2K
NOI $21,909 @ 7.0% cap · market cap 6.87%
Theoretical Best
Warehouse
$1.59M
$1.39M – $1.86M
NOI $111,426 @ 7.0% cap · market cap 34.93%
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
536
Businesses Nearby
Explore this area
Business Placement
Demographics for 53215, WI
59,359
Population
21,307
Households
2.8
Avg Household Size
31
Median Age
11%
College-Educated
67%
High-School Grad
5.5 sq mi
ZIP Area
10,793
Density / Sq Mi
$49,207
Median Household Income
$32,261
Median Earnings
$933
Median Rent
$148,400
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-bedroom units and a detached garage provide a practical residential configuration.
Where is this duplex located?
The property is located at 3116 S 9th St Milwaukee, WI.
What is the asking price?
The asking price for this property is $319,000.
What are key features of this property?
This property features: Two renovated units, each with 2 bedrooms and 1 bathroom; 2,100 square feet; built in 1928; New vinyl windows
