Three-Bedroom Brick
For Sale
$399,900
2150 S 83rd St, West Allis, WI 53219
Updated kitchens and bathrooms pair with hardwood flooring, generous storage, and an upper-level patio.
Property Size2,464 SF
Price / SF$162.30
Days on Market14
Property Features for 2150 S 83rd St
General Information
Standard status
Active
Size
2,464 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,006
Amenities
hardwood floors
updated bathrooms
updated kitchens
new countertops
outdoor patio
ceiling fans
large windows
Building Details
Buildings
1
Construction
brick
Listing Agency:
Guardian Investment Real Estate Co., Inc.
(262) 424-5254
Listed By:
Kali Restivo
(262) 424-5254
Source:
Exprealty
Added: Jul 29
Changed: Aug 11
Last Checked: Aug 11 at 5:22AM
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 Guardian Investment Real Estate Co., Inc.
Investment Insights
Based on property information with market context.
This brick duplex contains two three-bedroom units within 2,464 square feet of property space. Interior improvements include hardwood flooring, refreshed bathrooms, and kitchens updated with new countertops and extensive cabinet storage. Ceiling fans and large windows are installed in the bedrooms, kitchens, and living rooms, while the upper unit includes an outdoor patio.
The property is located at 2150 S 83rd St in West Allis, Wisconsin. Its two-unit configuration, three bedrooms per unit, and combination of interior updates and outdoor space provide a clearly defined residential income property profile.
The property is located at 2150 S 83rd St in West Allis, Wisconsin. Its two-unit configuration, three bedrooms per unit, and combination of interior updates and outdoor space provide a clearly defined residential income property profile.
Key Highlights
- Two‑unit duplex with 3 bedrooms per unit
- 2,464 square feet of property space
- Hardwood floors throughout the updated interior
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
$24,708
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
6.18%
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%
$494,160
$494.2K
Cap Rate 7%
$352,971
$353.0K
Cap Rate 9%
$274,533
$274.5K
Market Conditions
NOI Build-Up for 2,464 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
$37.0K $15.00/SF
− Vacancy
−$1.7K −$0.68/SF
EGI
$35.3K $14.33/SF
− OpEx
−$10.6K −$4.30/SF
NOI
$24.7K $10.03/SF
Area
ZIP 53219
Vacancy
4.50%
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%
$494,160
Cap Rate 7%
$352,971
Cap Rate 9%
$274,533
Alternative Uses
Best Use
Multifamily LT 5
$353.0K
$308.9K – $411.8K
NOI $24,708 @ 7.0% cap · market cap 6.18%
Second Best
Apartment 5plus
$316.0K
$276.5K – $368.7K
NOI $22,123 @ 7.0% cap · market cap 5.53%
Theoretical Best
Office A
$592.1K
$518.1K – $690.8K
NOI $41,448 @ 7.0% cap · market cap 10.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,204
Businesses Nearby
Explore this area
Business Placement
Demographics for 53219, WI
34,925
Population
15,661
Households
2.2
Avg Household Size
38
Median Age
26%
College-Educated
90%
High-School Grad
5.0 sq mi
ZIP Area
6,985
Density / Sq Mi
$70,998
Median Household Income
$43,223
Median Earnings
$971
Median Rent
$190,300
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 - Updated kitchens and bathrooms pair with hardwood flooring, generous storage, and an upper-level patio.
Where is this duplex located?
The property is located at 2150 S 83rd St West Allis, WI.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Two‑unit duplex with 3 bedrooms per unit; 2,464 square feet of property space; Hardwood floors throughout the updated interior
