Duplex with Finished Third-Floor Rec
1813 N 54th St Unit 1815, Milwaukee, WI 53208
For Sale
$325,000
Two-unit property with updated kitchen, porches, rear deck, and flexible finished space beyond the reported area.
Property Size2,529 SF
Price / SF$128.51
Days on Market64
Property Features for 1813 N 54th St Unit 1815
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Building Details
Year Built
Buildings
Listing Agency:
Keller Williams Realty-Lake Country
Listed By:
Jordan Shelton · License WI 95879-94
(262) 804-3230
Source:
Jwregwi
Added: Sep 12
Changed: Oct 25
Last Checked: Nov 12 at 10:46AM
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
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Investment Insights
Based on property information with market context.
Built in 1922, this two-unit duplex contains 2,529 square feet and offers a mix of original character and recent updates. The property includes spacious living, dining, and kitchen areas, along with two porches and a rear deck. A finished third-floor recreation room adds flexible interior space and is excluded from the reported square footage. The kitchen has been recently remodeled while retaining the building’s established character.
The property is located at 1813 N 54th St Unit 1815 in Milwaukee’s Washington Heights neighborhood. Restaurants, shopping, parks, and other neighborhood amenities are located nearby.
The property is located at 1813 N 54th St Unit 1815 in Milwaukee’s Washington Heights neighborhood. Restaurants, shopping, parks, and other neighborhood amenities are located nearby.
Key Highlights
- Two‑unit duplex with 2,529 square feet
- Built in 1922
- Recently remodeled kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,439
Cap Rate
7.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$508,780
$508.8K
Cap Rate 7%
$363,414
$363.4K
Cap Rate 9%
$282,656
$282.7K
Market Conditions
NOI Build-Up for 2,529 SF
Gross rent
$37.9K $15.00/SF
− Vacancy
−$1.6K −$0.63/SF
EGI
$36.3K $14.37/SF
− OpEx
−$10.9K −$4.31/SF
NOI
$25.4K $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 Rate 5%
$508,780
Cap Rate 7%
$363,414
Cap Rate 9%
$282,656
Alternative Uses
Best Use
Multifamily LT 5
$363.4K
$318.0K – $424.0K
NOI $25,439 @ 7.0% cap · market cap 7.83%
Second Best
Apartment 5plus
$336.5K
$294.4K – $392.6K
NOI $23,555 @ 7.0% cap · market cap 7.25%
Theoretical Best
Office A
$607.7K
$531.8K – $709.0K
NOI $42,542 @ 7.0% cap · market cap 13.09%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
769
Businesses Nearby
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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
$196,300
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Milwaukee, WI
Properties on Market for Duplexes in Milwaukee
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with updated kitchen, porches, rear deck, and flexible finished space beyond the reported area.
Where is this duplex located?
The property is located at 1813 N 54th St Unit 1815 Milwaukee, WI.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,529 square feet; Built in 1922; Recently remodeled kitchen
