Three-Unit Multifamily
New
For Sale
$499,000
1916 E Webster Pl, Milwaukee, WI 53211
Fully occupied investment property with distinct entrances and mechanical systems for each residence.
Property Size2,556 SF
Days on Market4
Property Features for 1916 E Webster Pl
General Information
Standard status
Active
Size
2,556 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
1 x 4BR/2BA, 1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Building Details
Building Size
2,556 SF
Year Built
1904
Listing Agency:
Jason Scott Realty & Management, LLC
Listed By:
Alex Fernhaber · License #29978
(414) 465-9343
Source:
Karlaflorance.kw
Added: Sep 5
Changed: Sep 7
Last Checked: Sep 8 at 3:31AM
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 Jason Scott Realty & Management, LLC
Investment Insights
Based on property information with market context.
This 1904 triplex contains three separate residences with distinct entrances and mechanical systems. The unit mix includes a four-bedroom, two-bath apartment with an in-unit washer and dryer, a two-bedroom, one-bath apartment, and a one-bedroom, one-bath apartment. Interior finishes include both hardwood flooring and carpet, and all three units are currently rented.
The property is located at 1916 E Webster Pl on Milwaukee’s East Side. UWM, Downer Avenue, North Avenue, and Oakland Avenue are all within walking distance, providing direct proximity to established campus and neighborhood destinations.
The property is located at 1916 E Webster Pl on Milwaukee’s East Side. UWM, Downer Avenue, North Avenue, and Oakland Avenue are all within walking distance, providing direct proximity to established campus and neighborhood destinations.
Key Highlights
- Three‑unit multifamily property built in 1904
- Unit mix includes 4‑bed/2‑bath, 2‑bed/1‑bath, and 1‑bed/1‑bath residences
- All three units are fully rented
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
$25,711
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
5.15%
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%
$514,220
$514.2K
Cap Rate 7%
$367,300
$367.3K
Cap Rate 9%
$285,678
$285.7K
Market Conditions
NOI Build-Up for 2,556 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
$38.3K $15.00/SF
− Vacancy
−$1.6K −$0.63/SF
EGI
$36.7K $14.37/SF
− OpEx
−$11.0K −$4.31/SF
NOI
$25.7K $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%
$514,220
Cap Rate 7%
$367,300
Cap Rate 9%
$285,678
Alternative Uses
Best Use
Multifamily LT 5
$367.3K
$321.4K – $428.5K
NOI $25,711 @ 7.0% cap · market cap 5.15%
Second Best
Apartment 5plus
$340.1K
$297.6K – $396.8K
NOI $23,806 @ 7.0% cap · market cap 4.77%
Theoretical Best
Office A
$614.2K
$537.5K – $716.6K
NOI $42,996 @ 7.0% cap · market cap 8.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,989
Businesses Nearby
Explore this area
Business Placement
Demographics for 53211, WI
36,327
Population
16,346
Households
2.2
Avg Household Size
29
Median Age
74%
College-Educated
98%
High-School Grad
4.0 sq mi
ZIP Area
9,082
Density / Sq Mi
$76,206
Median Household Income
$40,214
Median Earnings
$1,225
Median Rent
$413,500
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 - Fully occupied investment property with distinct entrances and mechanical systems for each residence.
Where is this triplex located?
The property is located at 1916 E Webster Pl Milwaukee, WI.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Three‑unit multifamily property built in 1904; Unit mix includes 4‑bed/2‑bath, 2‑bed/1‑bath, and 1‑bed/1‑bath residences; All three units are fully rented
