Two-Unit Duplex with Hardwood
New
For Sale
$349,000
1368 N 60th St, Milwaukee, WI 53208
One apartment is occupied, while the second is scheduled to be vacant for flexible use.
Property Size2,308 SF
Price / SF$151.21
Days on Market3
Property Features for 1368 N 60th St
General Information
Standard status
Active
Size
2,308 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Road Access
Yes
Building Details
Year Built
1918
Listing Agency:
Keller Williams Milwaukee North Shore
Listed By:
Falk Ruvin Gallagher Team* · License #4842090
(414) 962-3605
Source:
Levelupwi
Added: Sep 18
Changed: Sep 19
Last Checked: Sep 19 at 12:52PM
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.
Built in 1918, this 2,308-square-foot duplex contains two 2-bedroom, 1-bath apartments. Both units offer hardwood flooring, high ceilings, strong natural light, and period character. The lower apartment is occupied, while the upper apartment is expected to be vacant, supporting either an owner-occupant arrangement or a fully leased configuration.
The property sits on a quiet dead-end street at 1368 N 60th St in Milwaukee, directly across from Wauwatosa. Restaurants, coffee shops, retail, murals, parks, trails, and recreational amenities are located nearby. Its two-unit layout and differing occupancy status provide a straightforward setup for residential income ownership.
The property sits on a quiet dead-end street at 1368 N 60th St in Milwaukee, directly across from Wauwatosa. Restaurants, coffee shops, retail, murals, parks, trails, and recreational amenities are located nearby. Its two-unit layout and differing occupancy status provide a straightforward setup for residential income ownership.
Key Highlights
- 2,308‑square‑foot duplex built in 1918
- Two 2‑bedroom, 1‑bath apartments
- Hardwood floors, tall ceilings, and abundant natural light in both units
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
$23,216
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
6.65%
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%
$464,320
$464.3K
Cap Rate 7%
$331,657
$331.7K
Cap Rate 9%
$257,956
$258.0K
Market Conditions
NOI Build-Up for 2,308 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
$34.6K $15.00/SF
− Vacancy
−$1.5K −$0.63/SF
EGI
$33.2K $14.37/SF
− OpEx
−$9.9K −$4.31/SF
NOI
$23.2K $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%
$464,320
Cap Rate 7%
$331,657
Cap Rate 9%
$257,956
Alternative Uses
Best Use
Multifamily LT 5
$331.7K
$290.2K – $386.9K
NOI $23,216 @ 7.0% cap · market cap 6.65%
Second Best
Apartment 5plus
$307.1K
$268.7K – $358.3K
NOI $21,497 @ 7.0% cap · market cap 6.16%
Theoretical Best
Office A
$554.6K
$485.3K – $647.1K
NOI $38,824 @ 7.0% cap · market cap 11.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
598
Businesses Nearby
Explore this area
Business Placement
Demographics for 53208, WI
29,644
Population
13,778
Households
2.2
Avg Household Size
33
Median Age
31%
College-Educated
89%
High-School Grad
4.2 sq mi
ZIP Area
7,058
Density / Sq Mi
$50,585
Median Household Income
$40,729
Median Earnings
$924
Median Rent
$196,300
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 - One apartment is occupied, while the second is scheduled to be vacant for flexible use.
Where is this duplex located?
The property is located at 1368 N 60th St Milwaukee, WI.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: 2,308‑square‑foot duplex built in 1918; Two 2‑bedroom, 1‑bath apartments; Hardwood floors, tall ceilings, and abundant natural light in both units
