Character Duplex with Rear
New
For Sale
$335,000
1813 N 54th St, Milwaukee, WI 53208
Two residential units feature generous living areas, private porches, and separate gas and electric meters for flexible ownership.
Property Size2,942 SF
Price / SF$113.87
Days on Market4
Property Features for 1813 N 54th St
General Information
Standard status
Active
Size
2,942 SF
Property subtype
Multi-Family
Building Details
Year Built
1922
Listing Agency:
Keller Williams Realty-Lake Country
Listed By:
Jordan Shelton · License #95879-94
(262) 804-3230
Source:
Levelupwi
Added: Sep 15
Changed: Sep 16
Last Checked: Sep 17 at 5:53AM
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-Lake Country
Investment Insights
Based on property information with market context.
Built in 1922, this 2942-square-foot duplex retains original character details while incorporating a recently remodeled kitchen. The 2/2 layout provides each unit with spacious living and dining areas, two bedrooms, and its own porch. A rear deck adds outdoor space, while separate gas and electric meters support distinct utility management.
The property is located at 1813 N 54th St in Milwaukee’s Washington Heights neighborhood, near restaurants, coffee shops, parks, and shopping. Free street parking is available around the property. The combination of preserved architectural character, updated kitchen space, and two-unit functionality accommodates either an owner-occupant or an investor.
The property is located at 1813 N 54th St in Milwaukee’s Washington Heights neighborhood, near restaurants, coffee shops, parks, and shopping. Free street parking is available around the property. The combination of preserved architectural character, updated kitchen space, and two-unit functionality accommodates either an owner-occupant or an investor.
Key Highlights
- 2/2 duplex with two bedrooms in each unit
- 2942 square feet of total property size
- Built in 1922 with original character details
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
$29,594
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
8.83%
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%
$591,880
$591.9K
Cap Rate 7%
$422,771
$422.8K
Cap Rate 9%
$328,822
$328.8K
Market Conditions
NOI Build-Up for 2,942 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
$44.1K $15.00/SF
− Vacancy
−$1.9K −$0.63/SF
EGI
$42.3K $14.37/SF
− OpEx
−$12.7K −$4.31/SF
NOI
$29.6K $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%
$591,880
Cap Rate 7%
$422,771
Cap Rate 9%
$328,822
Alternative Uses
Best Use
Multifamily LT 5
$422.8K
$369.9K – $493.2K
NOI $29,594 @ 7.0% cap · market cap 8.83%
Second Best
Apartment 5plus
$391.5K
$342.5K – $456.7K
NOI $27,402 @ 7.0% cap · market cap 8.18%
Theoretical Best
Office A
$707.0K
$618.6K – $824.8K
NOI $49,489 @ 7.0% cap · market cap 14.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
769
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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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units feature generous living areas, private porches, and separate gas and electric meters for flexible ownership.
Where is this duplex located?
The property is located at 1813 N 54th St Milwaukee, WI.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: 2/2 duplex with two bedrooms in each unit; 2942 square feet of total property size; Built in 1922 with original character details
