Two-Unit Duplex with Walk-In
For Sale
$350,000
1600 E Kane Pl, Milwaukee, WI 53202
Duplex near McKinley Marina with flexible owner-occupant or rental use.
Property Size2,200 SF
Price / SF$159.09
Days on Market9
Property Features for 1600 E Kane Pl
General Information
Standard status
Active
Size
2,200 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 4BR/2BA
Multifamily Units
2
Building Details
Year Built
1896
Buildings
1
Listing Agency:
Keller Williams Realty-Milwaukee Southwest
(262) 443-0030
Listed By:
Realty Executives Southeast
(262) 443-0030
Source:
Therealestatestudiowi
Added: Aug 22
Changed: Aug 29
Last Checked: Aug 29 at 6:37PM
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 Realty-Milwaukee Southwest
Investment Insights
Based on property information with market context.
Built in 1896, this 2,200-square-foot duplex at 1600 E Kane Pl includes two residential units with distinct bedroom and bathroom configurations. The lower residence has 2 bedrooms and 1 bathroom, while the upper residence provides 4 bedrooms and 2 bathrooms. Both units feature walk-in showers, adding a practical accessibility-oriented feature to the layouts.
The property is positioned on Milwaukee’s East Side, minutes from the Lake Michigan lakeshore and within walking distance of McKinley Marina, North Avenue, and Brady Street. Those nearby areas offer restaurants, entertainment, shopping, nightlife, and outdoor recreation. The two-unit arrangement supports an owner-occupant strategy with rental use in the other unit or leasing both residences.
The property is positioned on Milwaukee’s East Side, minutes from the Lake Michigan lakeshore and within walking distance of McKinley Marina, North Avenue, and Brady Street. Those nearby areas offer restaurants, entertainment, shopping, nightlife, and outdoor recreation. The two-unit arrangement supports an owner-occupant strategy with rental use in the other unit or leasing both residences.
Key Highlights
- 2,200‑square‑foot duplex at 1600 E Kane Pl, Milwaukee, WI 53202
- Lower unit includes 2 bedrooms and 1 bathroom
- Upper unit includes 4 bedrooms and 2 bathrooms
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
$22,130
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
6.32%
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%
$442,600
$442.6K
Cap Rate 7%
$316,143
$316.1K
Cap Rate 9%
$245,889
$245.9K
Market Conditions
NOI Build-Up for 2,200 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
$33.0K $15.00/SF
− Vacancy
−$1.4K −$0.63/SF
EGI
$31.6K $14.37/SF
− OpEx
−$9.5K −$4.31/SF
NOI
$22.1K $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%
$442,600
Cap Rate 7%
$316,143
Cap Rate 9%
$245,889
Alternative Uses
Best Use
Multifamily LT 5
$316.1K
$276.6K – $368.8K
NOI $22,130 @ 7.0% cap · market cap 6.32%
Second Best
Apartment 5plus
$292.7K
$256.1K – $341.5K
NOI $20,491 @ 7.0% cap · market cap 5.85%
Theoretical Best
Office A
$528.7K
$462.6K – $616.8K
NOI $37,008 @ 7.0% cap · market cap 10.57%
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
2,439
Businesses Nearby
Explore this area
Business Placement
Demographics for 53202, WI
27,897
Population
18,629
Households
1.5
Avg Household Size
31
Median Age
66%
College-Educated
98%
High-School Grad
2.1 sq mi
ZIP Area
13,284
Density / Sq Mi
$68,482
Median Household Income
$52,339
Median Earnings
$1,234
Median Rent
$298,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Duplex near McKinley Marina with flexible owner-occupant or rental use.
Where is this duplex located?
The property is located at 1600 E Kane Pl Milwaukee, WI.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 2,200‑square‑foot duplex at 1600 E Kane Pl, Milwaukee, WI 53202; Lower unit includes 2 bedrooms and 1 bathroom; Upper unit includes 4 bedrooms and 2 bathrooms
