Rehabilitated Duplex with Insulated
For Sale
$499,000
2212 N Cambridge Ave, Milwaukee, WI 53202
Two-unit property with updated kitchens and baths, high ceilings, new flooring, and replacement windows.
Property Size2,428 SF
Price / SF$205.52
Days on Market8
Property Features for 2212 N Cambridge Ave
General Information
Standard status
Active
Size
2,428 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1909
Buildings
1
Listing Agency:
Milwaukee Realty, Inc.
(414) 224-7200
Listed By:
David Price · License #5188390
Source:
Nikolicgroup
Added: Aug 24
Changed: Aug 28
Last Checked: Aug 30 at 7:54PM
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 Milwaukee Realty, Inc.
Investment Insights
Based on property information with market context.
This duplex at 2212 N Cambridge Ave includes 2428 square feet across two residential units. The property was completely remodeled with updated kitchens and bathrooms, high ceilings, new flooring, and new windows. An insulated attic offers the possibility of creating additional space for the upper unit, subject to applicable requirements.
Built in 1909, the property is being offered for sale in as-is condition. Its Milwaukee location places the duplex on N Cambridge Ave near North Ave and the East Side area.
Built in 1909, the property is being offered for sale in as-is condition. Its Milwaukee location places the duplex on N Cambridge Ave near North Ave and the East Side area.
Key Highlights
- 2428‑square‑foot duplex at 2212 N Cambridge Ave, Milwaukee, WI 53202
- Completely remodeled two‑unit property
- Updated kitchens and bathrooms with high ceilings
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
$24,423
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
4.89%
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%
$488,460
$488.5K
Cap Rate 7%
$348,900
$348.9K
Cap Rate 9%
$271,367
$271.4K
Market Conditions
NOI Build-Up for 2,428 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
$36.4K $15.00/SF
− Vacancy
−$1.5K −$0.63/SF
EGI
$34.9K $14.37/SF
− OpEx
−$10.5K −$4.31/SF
NOI
$24.4K $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%
$488,460
Cap Rate 7%
$348,900
Cap Rate 9%
$271,367
Alternative Uses
Best Use
Multifamily LT 5
$348.9K
$305.3K – $407.1K
NOI $24,423 @ 7.0% cap · market cap 4.89%
Second Best
Apartment 5plus
$323.1K
$282.7K – $376.9K
NOI $22,614 @ 7.0% cap · market cap 4.53%
Theoretical Best
Office A
$583.5K
$510.5K – $680.7K
NOI $40,843 @ 7.0% cap · market cap 8.18%
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
1,908
Businesses Nearby
Explore this area
Business Placement
Demographics for 53202, WI
27,897
Population
18,629
Households
1.5
Avg Household Size
31
Median Age
66%
College-Educated
98%
High-School Grad
2.1 sq mi
ZIP Area
13,284
Density / Sq Mi
$68,482
Median Household Income
$52,339
Median Earnings
$1,234
Median Rent
$298,000
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-unit property with updated kitchens and baths, high ceilings, new flooring, and replacement windows.
Where is this duplex located?
The property is located at 2212 N Cambridge Ave Milwaukee, WI.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 2428‑square‑foot duplex at 2212 N Cambridge Ave, Milwaukee, WI 53202; Completely remodeled two‑unit property; Updated kitchens and bathrooms with high ceilings
