Rented Duplex With Two
1978 South 12th Street Milwaukee, WI 53204
For Sale
$214,900
Well-maintained duplex with separate 3-bedroom and 2-bedroom units, offering income already in place.
Property Size1,977 SF
Price / SF$108.70
Days on Market80
Property Features for 1978 South 12th Street
General Information
- Standard status
- Active
- Size
- 1,977 SF
- Property subtype
- Multi-Family / Multi-Family
Building Details
- Year Built
- 1884
Listing Agency:
Refined Properties
(920) 573-7002
Listed By:
Brandon J Tyler · License #60364-90
(920) 573-7002
Source:
Compass
Added: May 5
Changed: Jul 10
Last Checked: Jul 23 at 6:52AM
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 Refined Properties
Investment Insights
Based on property information with market context.
This fully rented duplex includes two separate residential units. The upper unit features three bedrooms and one bathroom, with a primary suite, a walk-in closet, and a flex den that can function as a fourth bedroom. The lower unit offers two bedrooms and one bathroom. Updates include an updated kitchen with epoxy countertops and a renovated bathroom with a walk-in glass shower, supporting day-to-day livability and tenant retention. Big-ticket items have been addressed, including roof and upper carpet in 2022, windows in 2015, and a water heater in 2014.
The property is located at 1978 South 12th Street in Milwaukee, Wisconsin.
For buyers seeking a residential income property, this duplex provides two distinct living layouts while remaining fully occupied at the time of sale. The documented improvements to roofing, windows, and major mechanical items can reduce near-term replacement concerns, and the unit updates support continued rental appeal.
The property is located at 1978 South 12th Street in Milwaukee, Wisconsin.
For buyers seeking a residential income property, this duplex provides two distinct living layouts while remaining fully occupied at the time of sale. The documented improvements to roofing, windows, and major mechanical items can reduce near-term replacement concerns, and the unit updates support continued rental appeal.
Key Highlights
- Fully rented duplex with income already in place
- Upper unit: 3 bed, 1 bath with a primary suite, walk‑in closet, and flex den (functions as a 4th bedroom)
- Lower unit: 2 bed, 1 bath
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $34.9k | $17.64 |
| − Vacancy | −$1.4k | −$0.71 |
| EGI | $33.5k | $16.93 |
| − OpEx | −$15.1k | −$7.62 |
| NOI | $18.4k | $9.31 |
1,977 SF · lease $17.64/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$284.1K
$248.6K – $331.5K
NOI $19,887 @ 7.0% cap · market cap 9.25%
Second Best
Apartment 5plus
$263.1K
$230.2K – $306.9K
NOI $18,414 @ 7.0% cap · market cap 8.57%
Theoretical Best
Office A
$475.1K
$415.7K – $554.3K
NOI $33,256 @ 7.0% cap · market cap 15.48%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Well-maintained duplex with separate 3-bedroom and 2-bedroom units, offering income already in place.
Where is this duplex located?
The property is located at 1978 South 12th Street Milwaukee, WI.
What is the asking price?
The asking price for this property is $214,900.
What are key features of this property?
This property features: Fully rented duplex with income already in place; Upper unit: 3 bed, 1 bath with a primary suite, walk‑in closet, and flex den (functions as a 4th bedroom); Lower unit: 2 bed, 1 bath
