Updated Duplex with Fenced
For Sale
$360,000
2045 N Hubbard St, Milwaukee, WI 53212
Two remodeled units feature an upper-and-lower configuration with updated major building systems.
Property Size2,592 SF
Price / SF$138.89
Days on Market11
Property Features for 2045 N Hubbard St
General Information
Standard status
Active
Size
2,592 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
fenced backyard
Building Details
Year Built
1903
Year Renovated
2022
Buildings
1
Listing Agency:
Berkshire Hathaway Homeservices Metro Realty
(920) 893-3001
Listed By:
Avenue Real Estate
(920) 893-3001
Source:
Avenueret
Added: Aug 20
Changed: Aug 28
Last Checked: Aug 29 at 9:00AM
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 2,592-square-foot duplex contains upper and lower units, both remodeled in 2022. Major property improvements include a rubber roof installed in 2023, new furnaces added in 2022, and a new upper water heater from 2022. The building dates to 1903 and includes a fenced backyard that adds private outdoor space.
Located in Milwaukee’s Brewers Hill, the property offers access to downtown Milwaukee, restaurants, and entertainment. The combination of two renovated units, recent mechanical updates, and outdoor space provides a clearly defined multifamily configuration.
Located in Milwaukee’s Brewers Hill, the property offers access to downtown Milwaukee, restaurants, and entertainment. The combination of two renovated units, recent mechanical updates, and outdoor space provides a clearly defined multifamily configuration.
Key Highlights
- 2,592 SF duplex with upper and lower units
- Both units remodeled in 2022
- New rubber roof installed in 2023
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
$26,073
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
7.24%
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%
$521,460
$521.5K
Cap Rate 7%
$372,471
$372.5K
Cap Rate 9%
$289,700
$289.7K
Market Conditions
NOI Build-Up for 2,592 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
$38.9K $15.00/SF
− Vacancy
−$1.6K −$0.63/SF
EGI
$37.2K $14.37/SF
− OpEx
−$11.2K −$4.31/SF
NOI
$26.1K $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%
$521,460
Cap Rate 7%
$372,471
Cap Rate 9%
$289,700
Alternative Uses
Best Use
Multifamily LT 5
$372.5K
$325.9K – $434.6K
NOI $26,073 @ 7.0% cap · market cap 7.24%
Second Best
Apartment 5plus
$344.9K
$301.8K – $402.4K
NOI $24,142 @ 7.0% cap · market cap 6.71%
Theoretical Best
Office A
$622.9K
$545.0K – $726.7K
NOI $43,602 @ 7.0% cap · market cap 12.11%
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
1,453
Businesses Nearby
Explore this area
Business Placement
Demographics for 53212, WI
28,702
Population
15,749
Households
1.8
Avg Household Size
32
Median Age
37%
College-Educated
91%
High-School Grad
4.1 sq mi
ZIP Area
7,000
Density / Sq Mi
$42,679
Median Household Income
$36,578
Median Earnings
$1,038
Median Rent
$204,300
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 remodeled units feature an upper-and-lower configuration with updated major building systems.
Where is this duplex located?
The property is located at 2045 N Hubbard St Milwaukee, WI.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: 2,592 SF duplex with upper and lower units; Both units remodeled in 2022; New rubber roof installed in 2023
