Duplex with Three-Car
2220 E Vollmer Ave, Milwaukee, WI 53207
For Sale
$439,900
Separate gas and electric service serves the units, with a shared boiler providing heat to both.
Property Size2,822 SF
Price / SF$155.88
Days on Market8
Property Features for 2220 E Vollmer Ave
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Units
Multifamily Units
Individually Metered Utilities
Building Details
Year Built
Listing Agency:
Keller Williams Milwaukee North Shore
Listed By:
Realty Executives Southeast
(262) 443-0030
Source:
Therealestatestudiowi
Added: Nov 6
Changed: Nov 12
Last Checked: Nov 12 at 8:09AM
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
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Investment Insights
Based on property information with market context.
This 2,822-square-foot duplex, built in 1928, has a three-bedroom upper unit and a two-bedroom lower unit. The upper residence includes expanded attic space with two bedrooms and a flex area, a three-season porch, and a large kitchen. Interior details include hardwood floors, LVP flooring, quartz kitchen counters, formal dining rooms with stained-glass built-ins, and living rooms with sitting areas. A new roof covers the main house.
Gas and electric utilities are separately provided, while a separately metered boiler heats both residences. A three-car garage and an additional slab offer off-street parking; the garage attic provides storage space.
Gas and electric utilities are separately provided, while a separately metered boiler heats both residences. A three-car garage and an additional slab offer off-street parking; the garage attic provides storage space.
Key Highlights
- 2,822‑square‑foot duplex built in 1928
- Upper unit has three bedrooms and expanded attic space with two bedrooms and a flex area
- Lower unit has two bedrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,386
Cap Rate
6.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$567,720
$567.7K
Cap Rate 7%
$405,514
$405.5K
Cap Rate 9%
$315,400
$315.4K
Market Conditions
NOI Build-Up for 2,822 SF
Gross rent
$42.3K $15.00/SF
− Vacancy
−$1.8K −$0.63/SF
EGI
$40.6K $14.37/SF
− OpEx
−$12.2K −$4.31/SF
NOI
$28.4K $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 Rate 5%
$567,720
Cap Rate 7%
$405,514
Cap Rate 9%
$315,400
Alternative Uses
Best Use
Multifamily LT 5
$405.5K
$354.8K – $473.1K
NOI $28,386 @ 7.0% cap · market cap 6.45%
Second Best
Apartment 5plus
$375.5K
$328.6K – $438.1K
NOI $26,284 @ 7.0% cap · market cap 5.97%
Theoretical Best
Office A
$678.2K
$593.4K – $791.2K
NOI $47,471 @ 7.0% cap · market cap 10.79%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
410
Businesses Nearby
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Business Placement
Demographics for 53207, WI
34,292
Population
17,278
Households
2
Avg Household Size
37
Median Age
45%
College-Educated
94%
High-School Grad
10.0 sq mi
ZIP Area
3,429
Density / Sq Mi
$79,576
Median Household Income
$53,886
Median Earnings
$1,145
Median Rent
$228,500
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Milwaukee, WI
Properties on Market for Duplexes in Milwaukee
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Separate gas and electric service serves the units, with a shared boiler providing heat to both.
Where is this duplex located?
The property is located at 2220 E Vollmer Ave Milwaukee, WI.
What is the asking price?
The asking price for this property is $439,900.
What are key features of this property?
This property features: 2,822‑square‑foot duplex built in 1928; Upper unit has three bedrooms and expanded attic space with two bedrooms and a flex area; Lower unit has two bedrooms
