Walkable Urban
For Sale
$645,000
1729 N Warren Ave, Milwaukee, WI 53202
Near Brady Street, with access to restaurants, coffee shops, nightlife, and the lakefront.
Property Size4,456 SF
Days on Market90
Property Features for 1729 N Warren Ave
General Information
Standard status
Active
Size
4,456 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
5
Building Details
Building Size
4,456 SF
Year Built
1896
Listing Agency:
Keller Williams Realty-Milwaukee North Shore
(414) 962-3605
Listed By:
Falk Ruvin Gallagher Team* · License #4842090
Source:
Karlaflorance.kw
Added: Jun 2
Changed: Aug 30
Last Checked: Aug 30 at 1:20PM
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 North Shore
Investment Insights
Based on property information with market context.
This duplex is located at 1729 N Warren Ave in Milwaukee, Wisconsin. Constructed in 1896, the property offers an established residential asset in an urban setting near Brady Street.
The surrounding area is characterized by walkable access to nightlife, coffee shops, restaurants, and the lakefront. Its location also places the property within a neighborhood associated with young professionals, graduate students, medical residents, and renters seeking convenient access to nearby amenities.
The surrounding area is characterized by walkable access to nightlife, coffee shops, restaurants, and the lakefront. Its location also places the property within a neighborhood associated with young professionals, graduate students, medical residents, and renters seeking convenient access to nearby amenities.
Key Highlights
- Duplex property at 1729 N Warren Ave, Milwaukee, WI 53202
- Constructed in 1896
- Located near Brady Street
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
$44,823
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
6.95%
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%
$896,460
$896.5K
Cap Rate 7%
$640,329
$640.3K
Cap Rate 9%
$498,033
$498.0K
Market Conditions
NOI Build-Up for 4,456 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
$66.8K $15.00/SF
− Vacancy
−$2.8K −$0.63/SF
EGI
$64.0K $14.37/SF
− OpEx
−$19.2K −$4.31/SF
NOI
$44.8K $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%
$896,460
Cap Rate 7%
$640,329
Cap Rate 9%
$498,033
Alternative Uses
Best Use
Multifamily LT 5
$640.3K
$560.3K – $747.1K
NOI $44,823 @ 7.0% cap · market cap 6.95%
Second Best
Apartment 5plus
$592.9K
$518.8K – $691.7K
NOI $41,503 @ 7.0% cap · market cap 6.43%
Theoretical Best
Office A
$1.07M
$937.0K – $1.25M
NOI $74,957 @ 7.0% cap · market cap 11.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
2,106
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?
Duplex - Near Brady Street, with access to restaurants, coffee shops, nightlife, and the lakefront.
Where is this duplex located?
The property is located at 1729 N Warren Ave Milwaukee, WI.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: Duplex property at 1729 N Warren Ave, Milwaukee, WI 53202; Constructed in 1896; Located near Brady Street
