Updated Two-Unit
For Sale
$265,000
Pending
2065 S 34th St, Milwaukee, WI 53208
Two residential units provide distinct layouts, garage space, and off-street parking.
Property Size1,606 SF
Days on Market39
Property Features for 2065 S 34th St
General Information
Standard status
Pending
Size
1,606 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 1BR, 1 x 2BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,799
Listing Agency:
Korpal & Associates, LLC
(414) 544-8643
Listed By:
Jose Perea
(414) 544-8643
Source:
Exprealty
Added: Jul 24
Changed: Aug 20
Last Checked: Aug 30 at 8:49PM
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 Korpal & Associates, LLC
Investment Insights
Based on property information with market context.
This 1,606-square-foot duplex contains two residential units arranged across separate floors. The first-floor apartment has one bedroom, while the second-floor apartment includes two bedrooms. The property also features a 2.5-car garage and off-street parking for three or more vehicles.
Recent improvements include roof replacement in 2022, a remodeled second-floor bathroom completed in 2022, and replacement of the second-floor furnace and boiler in 2024. Chimney restoration is noted for 2025, along with a new garage door in 2026. The property is located at 2065 S 34th St in Milwaukee, near parks, schools, dining, and shopping.
Recent improvements include roof replacement in 2022, a remodeled second-floor bathroom completed in 2022, and replacement of the second-floor furnace and boiler in 2024. Chimney restoration is noted for 2025, along with a new garage door in 2026. The property is located at 2065 S 34th St in Milwaukee, near parks, schools, dining, and shopping.
Key Highlights
- Two‑unit duplex with a 1‑bedroom first‑floor unit and a 2‑bedroom second‑floor unit
- 1,606 square feet of residential building area
- 2.5‑car garage plus off‑street parking for three or more vehicles
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
$16,155
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
6.10%
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%
$323,100
$323.1K
Cap Rate 7%
$230,786
$230.8K
Cap Rate 9%
$179,500
$179.5K
Market Conditions
NOI Build-Up for 1,606 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
$24.1K $15.00/SF
− Vacancy
−$1.0K −$0.63/SF
EGI
$23.1K $14.37/SF
− OpEx
−$6.9K −$4.31/SF
NOI
$16.2K $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%
$323,100
Cap Rate 7%
$230,786
Cap Rate 9%
$179,500
Alternative Uses
Best Use
Multifamily LT 5
$230.8K
$201.9K – $269.3K
NOI $16,155 @ 7.0% cap · market cap 6.10%
Second Best
Apartment 5plus
$213.7K
$187.0K – $249.3K
NOI $14,958 @ 7.0% cap · market cap 5.64%
Theoretical Best
Office A
$385.9K
$337.7K – $450.3K
NOI $27,015 @ 7.0% cap · market cap 10.19%
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
704
Businesses Nearby
Explore this area
Business Placement
Demographics for 53208, WI
29,644
Population
13,778
Households
2.2
Avg Household Size
33
Median Age
31%
College-Educated
89%
High-School Grad
4.2 sq mi
ZIP Area
7,058
Density / Sq Mi
$50,585
Median Household Income
$40,729
Median Earnings
$924
Median Rent
$196,300
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 residential units provide distinct layouts, garage space, and off-street parking.
Where is this duplex located?
The property is located at 2065 S 34th St Milwaukee, WI.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Two‑unit duplex with a 1‑bedroom first‑floor unit and a 2‑bedroom second‑floor unit; 1,606 square feet of residential building area; 2.5‑car garage plus off‑street parking for three or more vehicles
