Two-Unit Duplex with
For Sale
$335,000
2204 S 67th Pl, West Allis, WI 53219
Two-bedroom units feature hardwood flooring, formal dining rooms, and individually metered utilities.
Property Size1,825 SF
Price / SF$183.56
Days on Market90
Property Features for 2204 S 67th Pl
General Information
Standard status
Active
Size
1,825 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,811
Listing Agency:
Keller Williams Milwaukee North Shore
(409) 370-0645
Listed By:
Nicole Maldonado · License #96733-94
(409) 370-0645
Source:
Exprealty
Added: Jun 2
Changed: Aug 29
Last Checked: Aug 29 at 4:15PM
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 Keller Williams Milwaukee North Shore
Investment Insights
Based on property information with market context.
This duplex contains two residential units, each with 2 bedrooms, hardwood flooring, a formal dining room, and separate utility service. The 1,825-square-foot property also includes a 2.5-car garage for parking and storage, along with a backyard patio and established exterior character.
The property is located two blocks from Becher Street restaurants and businesses, with additional shops and neighborhood amenities nearby. One unit is occupied by the owner and is scheduled to be vacant at closing, creating flexibility for an owner-occupant or an investor seeking a two-unit residential income property.
The property is located two blocks from Becher Street restaurants and businesses, with additional shops and neighborhood amenities nearby. One unit is occupied by the owner and is scheduled to be vacant at closing, creating flexibility for an owner-occupant or an investor seeking a two-unit residential income property.
Key Highlights
- Two residential units, each with 2 bedrooms
- 1,825 SF duplex with 2.5‑car garage
- Separate utilities for each unit
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
$18,300
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
5.46%
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%
$366,000
$366.0K
Cap Rate 7%
$261,429
$261.4K
Cap Rate 9%
$203,333
$203.3K
Market Conditions
NOI Build-Up for 1,825 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
$27.4K $15.00/SF
− Vacancy
−$1.2K −$0.68/SF
EGI
$26.1K $14.33/SF
− OpEx
−$7.8K −$4.30/SF
NOI
$18.3K $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%
$366,000
Cap Rate 7%
$261,429
Cap Rate 9%
$203,333
Alternative Uses
Best Use
Multifamily LT 5
$261.4K
$228.8K – $305.0K
NOI $18,300 @ 7.0% cap · market cap 5.46%
Second Best
Apartment 5plus
$234.1K
$204.8K – $273.1K
NOI $16,386 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$438.6K
$383.7K – $511.7K
NOI $30,699 @ 7.0% cap · market cap 9.16%
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
577
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 - Two-bedroom units feature hardwood flooring, formal dining rooms, and individually metered utilities.
Where is this duplex located?
The property is located at 2204 S 67th Pl West Allis, WI.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: Two residential units, each with 2 bedrooms; 1,825 SF duplex with 2.5‑car garage; Separate utilities for each unit
