Victorian Duplex with Side
For Sale
$265,000
2330 N Palmer St, Milwaukee, WI 53212
Two units offer open kitchens, individual porches, and first-floor in-unit laundry.
Property Size2,206 SF
Price / SF$120.13
Days on Market12
Property Features for 2330 N Palmer St
General Information
Standard status
Active
Size
2,206 SF
Property subtype
Residential Income
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,410
Amenities
porches
in-unit laundry
Building Details
Construction
Victorian
Listing Agency:
EXP Realty, LLC~MKE
(414) 712-1455
Listed By:
Michael Argeropoulos · License #7950394
(414) 712-1455
Source:
Exprealty
Added: Aug 1
Changed: Aug 9
Last Checked: Aug 11 at 12:05PM
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 EXP Realty, LLC~MKE
Investment Insights
Based on property information with market context.
This 2,206-square-foot Victorian duplex includes two residential units with open kitchens, tall ceilings, and individual porches adjoining the kitchen areas. Each unit has in-unit laundry on the first floor. Recent exterior work includes fresh paint, rebuilt porches and chimneys, and replacement windows. The property also features a wide lot, side-drive access, and surplus parking.
Located at 2330 N Palmer St in Milwaukee, the duplex provides access to the East Side, Downtown, and nearby highway connections. Long-term tenants occupy the units under month-to-month leases, providing an existing rental setup for a new owner.
Located at 2330 N Palmer St in Milwaukee, the duplex provides access to the East Side, Downtown, and nearby highway connections. Long-term tenants occupy the units under month-to-month leases, providing an existing rental setup for a new owner.
Key Highlights
- 2,206‑square‑foot Victorian duplex at 2330 N Palmer St, Milwaukee, WI
- Open kitchens, tall ceilings, individual kitchen porches, and first‑floor in‑unit laundry
- Fresh exterior paint, rebuilt porches and chimneys, plus replacement windows
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
$22,190
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
8.37%
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%
$443,800
$443.8K
Cap Rate 7%
$317,000
$317.0K
Cap Rate 9%
$246,556
$246.6K
Market Conditions
NOI Build-Up for 2,206 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
$33.1K $15.00/SF
− Vacancy
−$1.4K −$0.63/SF
EGI
$31.7K $14.37/SF
− OpEx
−$9.5K −$4.31/SF
NOI
$22.2K $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%
$443,800
Cap Rate 7%
$317,000
Cap Rate 9%
$246,556
Alternative Uses
Best Use
Multifamily LT 5
$317.0K
$277.4K – $369.8K
NOI $22,190 @ 7.0% cap · market cap 8.37%
Second Best
Apartment 5plus
$293.5K
$256.8K – $342.5K
NOI $20,547 @ 7.0% cap · market cap 7.75%
Theoretical Best
Office A
$530.1K
$463.9K – $618.5K
NOI $37,108 @ 7.0% cap · market cap 14.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,065
Businesses Nearby
Explore this area
Business Placement
Demographics for 53212, WI
28,702
Population
15,749
Households
1.8
Avg Household Size
32
Median Age
37%
College-Educated
91%
High-School Grad
4.1 sq mi
ZIP Area
7,000
Density / Sq Mi
$42,679
Median Household Income
$36,578
Median Earnings
$1,038
Median Rent
$204,300
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 units offer open kitchens, individual porches, and first-floor in-unit laundry.
Where is this duplex located?
The property is located at 2330 N Palmer 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: 2,206‑square‑foot Victorian duplex at 2330 N Palmer St, Milwaukee, WI; Open kitchens, tall ceilings, individual kitchen porches, and first‑floor in‑unit laundry; Fresh exterior paint, rebuilt porches and chimneys, plus replacement windows
