Updated Duplex with Side
For Sale
$429,900
1755 N Franklin Pl, Milwaukee, WI 53202
Two-unit property with refreshed kitchens and baths, in-unit laundry, and parking for four vehicles.
Property Size2,778 SF
Price / SF$154.75
Days on Market58
Property Features for 1755 N Franklin Pl
General Information
Standard status
Active
Size
2,778 SF
Total Parking Spaces
4
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,467
Amenities
in-unit laundry
Building Details
Buildings
1
Listing Agency:
North Shore Realty Group, LLC.
(414) 630-1744
Listed By:
Rudy Gudgeon
(414) 630-1744
Source:
Exprealty
Added: Jul 5
Changed: Aug 21
Last Checked: Aug 30 at 8:24PM
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 North Shore Realty Group, LLC.
Investment Insights
Based on property information with market context.
This 2,778-square-foot duplex includes an upper bi-level residence with 3 bedrooms and 1.5 baths. Hardwood floors extend through the upper unit, where the renovated kitchen includes stainless steel appliances, granite countertops, and breakfast-bar seating. The kitchen connects with formal dining and living areas, while the upper level adds a family room, two bedrooms, an updated bathroom with dual vanities, and a walk-in closet in the primary bedroom. The lower residence also has an updated kitchen and bathroom, along with exposed brick accents and in-unit laundry.
Property improvements include vinyl replacement windows throughout, newer roofing and gutters, and newer mechanical systems. A side driveway provides parking for 4 cars. The duplex is located at 1755 N Franklin Pl in Milwaukee's East Village/Brady Street District.
Property improvements include vinyl replacement windows throughout, newer roofing and gutters, and newer mechanical systems. A side driveway provides parking for 4 cars. The duplex is located at 1755 N Franklin Pl in Milwaukee's East Village/Brady Street District.
Key Highlights
- 2,778‑square‑foot duplex with an upper bi‑level unit
- Upper unit offers 3 bedrooms, 1.5 baths, and a walk‑in closet in the primary bedroom
- Updated kitchens and bathrooms 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
$27,944
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
6.50%
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%
$558,880
$558.9K
Cap Rate 7%
$399,200
$399.2K
Cap Rate 9%
$310,489
$310.5K
Market Conditions
NOI Build-Up for 2,778 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
$41.7K $15.00/SF
− Vacancy
−$1.8K −$0.63/SF
EGI
$39.9K $14.37/SF
− OpEx
−$12.0K −$4.31/SF
NOI
$27.9K $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%
$558,880
Cap Rate 7%
$399,200
Cap Rate 9%
$310,489
Alternative Uses
Best Use
Multifamily LT 5
$399.2K
$349.3K – $465.7K
NOI $27,944 @ 7.0% cap · market cap 6.50%
Second Best
Apartment 5plus
$369.6K
$323.4K – $431.2K
NOI $25,874 @ 7.0% cap · market cap 6.02%
Theoretical Best
Office A
$667.6K
$584.1K – $778.8K
NOI $46,730 @ 7.0% cap · market cap 10.87%
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
2,024
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 - Two-unit property with refreshed kitchens and baths, in-unit laundry, and parking for four vehicles.
Where is this duplex located?
The property is located at 1755 N Franklin Pl Milwaukee, WI.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: 2,778‑square‑foot duplex with an upper bi‑level unit; Upper unit offers 3 bedrooms, 1.5 baths, and a walk‑in closet in the primary bedroom; Updated kitchens and bathrooms in both units
