Upgraded Duplex with
For Sale
$285,000
Pending
206 North 68th Street, Milwaukee, WI 53213
Turn-key 2-unit duplex featuring vinyl siding, new windows, updated interiors, and a patio-ready yard with off-street parking.
Property Size1,493 SF
Days on Market88
Property Features for 206 North 68th Street
General Information
Standard status
Pending
Size
1,493 SF
Total Parking Spaces
3
Property subtype
Two-Family / Two Family
Additional Details
Business Included
Yes
Fenced Yard
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,043
Amenities
Full, Block
Low Maintenance Trim, Vinyl
1.0
2.0
0.0
3.0
1493.0
5.0
Building Details
Year Built
1926
Tenancy
Multi
Listing Agency:
Real Broker Milwaukee
Listed By:
Tyler P Vandermolen · License #94248-94
(262) 622-5977
Source:
Compass
Added: Jun 10
Changed: Aug 8
Last Checked: Jul 31 at 10:26AM
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 Real Broker Milwaukee
Investment Insights
Based on property information with market context.
This turn-key duplex offers two residential units, configured as 2/1 and 1/1 layouts. The exterior has been well upgraded with vinyl siding, aluminum wrapping, and new windows. Interior updates include new vinyl replacement windows, quartz countertops, new sinks and faucets in the kitchen, freshly painted walls, refinished hardwood floors, new LVP, updated cabinet hardware, and some lighting.
The property includes basement storage and a fenced yard with a concrete slab providing patio space. Off-street parking is available with a three-car parking pad in the back, along with an owner’s shed.
Additional exterior and interior improvements support a ready-to-occupy setup, with upgrades carried through both finishes and core kitchen components.
The property includes basement storage and a fenced yard with a concrete slab providing patio space. Off-street parking is available with a three-car parking pad in the back, along with an owner’s shed.
Additional exterior and interior improvements support a ready-to-occupy setup, with upgrades carried through both finishes and core kitchen components.
Key Highlights
- 2‑unit duplex (2/1 and 1/1) with an estimated 1,493 total SF
- Built in 1926 with full block basement and plenty of storage
- Upgraded exterior with vinyl siding, aluminum wrapping, and replacement windows
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
$15,018
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
5.27%
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%
$300,360
$300.4K
Cap Rate 7%
$214,543
$214.5K
Cap Rate 9%
$166,867
$166.9K
Market Conditions
NOI Build-Up for 1,493 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
$22.4K $15.00/SF
− Vacancy
−$941 −$0.63/SF
EGI
$21.5K $14.37/SF
− OpEx
−$6.4K −$4.31/SF
NOI
$15.0K $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%
$300,360
Cap Rate 7%
$214,543
Cap Rate 9%
$166,867
Alternative Uses
Best Use
Multifamily LT 5
$214.5K
$187.7K – $250.3K
NOI $15,018 @ 7.0% cap · market cap 5.27%
Second Best
Apartment 5plus
$198.7K
$173.8K – $231.8K
NOI $13,906 @ 7.0% cap · market cap 4.88%
Theoretical Best
Office A
$358.8K
$313.9K – $418.6K
NOI $25,115 @ 7.0% cap · market cap 8.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
586
Businesses Nearby
Explore this area
Business Placement
Demographics for 53213, WI
26,469
Population
12,591
Households
2.1
Avg Household Size
37
Median Age
63%
College-Educated
98%
High-School Grad
3.9 sq mi
ZIP Area
6,787
Density / Sq Mi
$94,144
Median Household Income
$59,472
Median Earnings
$1,228
Median Rent
$311,200
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 - Turn-key 2-unit duplex featuring vinyl siding, new windows, updated interiors, and a patio-ready yard with off-street parking.
Where is this duplex located?
The property is located at 206 North 68th Street Milwaukee, WI.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: 2‑unit duplex (2/1 and 1/1) with an estimated 1,493 total SF; Built in 1926 with full block basement and plenty of storage; Upgraded exterior with vinyl siding, aluminum wrapping, and replacement windows
