Triplex with Off-Street
For Sale
$490,000
1672 North Astor Street Unit 1674, Milwaukee, WI 53202
Three residential units include updated finishes, dedicated laundry arrangements, and outdoor space.
Property Size2,618 SF
Price / SF$187.17
Days on Market209
Property Features for 1672 North Astor Street Unit 1674
General Information
Standard status
Active
Size
2,618 SF
Total Parking Spaces
3
Property subtype
Multi-Family / Multi-Family
Net Operating Income
$40,450
Units
Unit Mix
1 x 2BR, 2 x 1BR
Multifamily Units
3
Additional Details
Road Access
Yes
Amenities
granite counters
fenced back yard
deck
hardwood flooring
washer & dryer
Full, Yes
Aluminum Siding
Building Details
Year Built
1890
Tenancy
Multi
Listing Agency:
Realty Executives Integrity~Brookfield
(262) 901-0825
Listed By:
Jim Geracie · License #24429-90
(262) 901-0825
Source:
Compass
Added: Feb 4
Changed: Aug 30
Last Checked: Aug 30 at 3:48PM
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 Realty Executives Integrity~Brookfield
Investment Insights
Based on property information with market context.
This 2,618-square-foot triplex, built in 1890, contains one two-bedroom residence and two one-bedroom residences. The two-bedroom unit has an updated kitchen with granite countertops, while the interiors include hardwood flooring and additional cosmetic improvements. The building also has an updated boiler and aluminum siding.
Laundry is provided in the basement for Units 1 and 3, and Unit 2 has its own washer and dryer. Exterior features include a fenced backyard, an oversized deck, and a concrete parking slab with space for three cars. The property is located at 1672 North Astor Street, Unit 1674, in Milwaukee, near Brady Street, the Lakefront, and the River Walk.
Laundry is provided in the basement for Units 1 and 3, and Unit 2 has its own washer and dryer. Exterior features include a fenced backyard, an oversized deck, and a concrete parking slab with space for three cars. The property is located at 1672 North Astor Street, Unit 1674, in Milwaukee, near Brady Street, the Lakefront, and the River Walk.
Key Highlights
- 2,618 SF triplex built in 1890
- Unit mix includes 1 two‑bedroom unit and 2 one‑bedroom units
- Updated kitchen with granite countertops in the two‑bedroom unit
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
$26,334
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
5.37%
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%
$526,680
$526.7K
Cap Rate 7%
$376,200
$376.2K
Cap Rate 9%
$292,600
$292.6K
Market Conditions
NOI Build-Up for 2,618 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
$39.3K $15.00/SF
− Vacancy
−$1.6K −$0.63/SF
EGI
$37.6K $14.37/SF
− OpEx
−$11.3K −$4.31/SF
NOI
$26.3K $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%
$526,680
Cap Rate 7%
$376,200
Cap Rate 9%
$292,600
Alternative Uses
Best Use
Multifamily LT 5
$376.2K
$329.2K – $438.9K
NOI $26,334 @ 7.0% cap · market cap 5.37%
Second Best
Apartment 5plus
$348.3K
$304.8K – $406.4K
NOI $24,384 @ 7.0% cap · market cap 4.98%
Theoretical Best
Office A
$629.1K
$550.5K – $734.0K
NOI $44,039 @ 7.0% cap · market cap 8.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,545
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units include updated finishes, dedicated laundry arrangements, and outdoor space.
Where is this triplex located?
The property is located at 1672 North Astor Street Unit 1674 Milwaukee, WI.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: 2,618 SF triplex built in 1890; Unit mix includes 1 two‑bedroom unit and 2 one‑bedroom units; Updated kitchen with granite countertops in the two‑bedroom unit
