Two-Unit Duplex with Off-Street
New
For Sale
$180,000
1953 S 5th Pl, Milwaukee, WI 53204
Two two-bedroom residences are supported by a driveway offering off-street parking.
Property Size1,433 SF
Price / SF$125.61
Days on Market6
Property Features for 1953 S 5th Pl
General Information
Standard status
Active
Size
1,433 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Amenities
driveway
Building Details
Year Built
1890
Listing Agency:
Berkshire Hathaway Homeservices Metro Realty
(920) 893-3001
Listed By:
Avenue Real Estate
(920) 893-3001
Source:
Avenueret
Added: Aug 24
Changed: Aug 27
Last Checked: Aug 29 at 8:55AM
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 Berkshire Hathaway Homeservices Metro Realty
Investment Insights
Based on property information with market context.
This 1,433-square-foot duplex contains two separate two-bedroom residences, providing a straightforward two-unit configuration for residential income ownership. A driveway adds off-street parking to the property.
Built in 1890, the property is located at 1953 S 5th Pl in Milwaukee, Wisconsin 53204. Its defined unit count, bedroom layout, and on-site parking create a clear profile for buyers seeking a duplex property.
Built in 1890, the property is located at 1953 S 5th Pl in Milwaukee, Wisconsin 53204. Its defined unit count, bedroom layout, and on-site parking create a clear profile for buyers seeking a duplex property.
Key Highlights
- Two‑unit duplex with two 2‑bedroom residences
- 1,433 square feet of property size
- Driveway provides off‑street parking
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
$14,415
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
8.01%
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%
$288,300
$288.3K
Cap Rate 7%
$205,929
$205.9K
Cap Rate 9%
$160,167
$160.2K
Market Conditions
NOI Build-Up for 1,433 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
$21.5K $15.00/SF
− Vacancy
−$903 −$0.63/SF
EGI
$20.6K $14.37/SF
− OpEx
−$6.2K −$4.31/SF
NOI
$14.4K $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 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%
$288,300
Cap Rate 7%
$205,929
Cap Rate 9%
$160,167
Alternative Uses
Best Use
Multifamily LT 5
$205.9K
$180.2K – $240.3K
NOI $14,415 @ 7.0% cap · market cap 8.01%
Second Best
Apartment 5plus
$190.7K
$166.8K – $222.5K
NOI $13,347 @ 7.0% cap · market cap 7.41%
Theoretical Best
Office A
$344.4K
$301.3K – $401.8K
NOI $24,105 @ 7.0% cap · market cap 13.39%
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
1,220
Businesses Nearby
Explore this area
Business Placement
Demographics for 53204, WI
39,728
Population
14,979
Households
2.7
Avg Household Size
29
Median Age
15%
College-Educated
65%
High-School Grad
3.2 sq mi
ZIP Area
12,415
Density / Sq Mi
$43,645
Median Household Income
$30,906
Median Earnings
$964
Median Rent
$106,000
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 two-bedroom residences are supported by a driveway offering off-street parking.
Where is this duplex located?
The property is located at 1953 S 5th Pl Milwaukee, WI.
What is the asking price?
The asking price for this property is $180,000.
What are key features of this property?
This property features: Two‑unit duplex with two 2‑bedroom residences; 1,433 square feet of property size; Driveway provides off‑street parking
