8-Unit Apartment
For Sale
$925,000
2410 W Howard Ave, Milwaukee, WI 53221
Multifamily property near public transportation, shopping, dining, and major commuter routes.
Property Size4,836 SF
Price / SF$191.27
Days on Market67
Property Features for 2410 W Howard Ave
General Information
Standard status
Active
Size
4,836 SF
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
8
Building Details
Year Built
1958
Listing Agency:
Berkshire Hathaway HomeServices Metro Realty
(262) 384-4552
Listed By:
Segal Goldman Realty Group* · License #7654594
Source:
Homesinwisconsin
Added: Jun 25
Changed: Aug 28
Last Checked: Aug 29 at 10:39AM
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 Berkshire Hathaway HomeServices Metro Realty
Investment Insights
Based on property information with market context.
Built in 1958, this apartment property contains 8 units within approximately 4,836 square feet. The asset offers an established multifamily configuration in Milwaukee, with its scale suited to apartment ownership and management.
The property is located at 2410 W Howard Ave and benefits from access to public transportation, shopping, dining, and major commuter routes. These surrounding conveniences provide direct connectivity to everyday services and transportation options.
The property is located at 2410 W Howard Ave and benefits from access to public transportation, shopping, dining, and major commuter routes. These surrounding conveniences provide direct connectivity to everyday services and transportation options.
Key Highlights
- 8‑unit apartment property
- Approximately 4,836 square feet
- Constructed in 1958
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
$46,002
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
4.97%
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%
$920,040
$920.0K
Cap Rate 7%
$657,171
$657.2K
Cap Rate 9%
$511,133
$511.1K
Market Conditions
NOI Build-Up for 4,836 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
$88.8K $18.36/SF
− Vacancy
−$5.1K −$1.06/SF
EGI
$83.6K $17.30/SF
− OpEx
−$37.6K −$7.78/SF
NOI
$46.0K $9.51/SF
Area
ZIP 53221
Vacancy
5.80%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
45.00%
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%
$920,040
Cap Rate 7%
$657,171
Cap Rate 9%
$511,133
Alternative Uses
Best Use
Apartment 5plus
$657.2K
$575.0K – $766.7K
NOI $46,002 @ 7.0% cap · market cap 4.97%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.67M
$3.21M – $4.28M
NOI $256,599 @ 7.0% cap · market cap 27.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
421
Businesses Nearby
Explore this area
Business Placement
Demographics for 53221, WI
39,560
Population
17,126
Households
2.3
Avg Household Size
38
Median Age
25%
College-Educated
87%
High-School Grad
9.0 sq mi
ZIP Area
4,396
Density / Sq Mi
$61,640
Median Household Income
$41,430
Median Earnings
$1,071
Median Rent
$205,500
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?
Apartment building - Multifamily property near public transportation, shopping, dining, and major commuter routes.
Where is this apartment building located?
The property is located at 2410 W Howard Ave Milwaukee, WI.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: 8‑unit apartment property; Approximately 4,836 square feet; Constructed in 1958
