Updated Duplex with Off-Street
New
For Sale
$299,000
2416 S Burrell St, Milwaukee, WI 53207
Two-unit property with a three-bedroom first-floor residence, modernized interiors, and recent exterior improvements.
Property Size2,001 SF
Price / SF$149.43
Days on Market3
Property Features for 2416 S Burrell St
General Information
Standard status
Active
Size
2,001 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1890
Buildings
1
Listing Agency:
Premier Point Realty LLC
(262) 224-5843
Listed By:
Erica Winship
Source:
Levelupwi
Added: Aug 29
Changed: Aug 31
Last Checked: Aug 31 at 1:06AM
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 Premier Point Realty LLC
Investment Insights
Based on property information with market context.
This 2,001-square-foot duplex, built in 1890, includes a three-bedroom first-floor owner's unit with updated finishes and character details. The residence features teal cabinetry, tile flooring, a reglazed bathtub, stainless steel appliances, and French doors. The property has also received partial mechanical updates, along with improvements to the roof, gutters, and chimney.
A new rear parking slab provides off-street parking. The second unit has a long-term tenant, offering an existing income component for an owner-occupant. The property is located at 2416 S Burrell St in Milwaukee, Wisconsin, near Bay View, KK, Humboldt Park, and the lakefront.
A new rear parking slab provides off-street parking. The second unit has a long-term tenant, offering an existing income component for an owner-occupant. The property is located at 2416 S Burrell St in Milwaukee, Wisconsin, near Bay View, KK, Humboldt Park, and the lakefront.
Key Highlights
- 2,001 SF duplex built in 1890
- First‑floor owner's unit includes 3 bedrooms
- Updated kitchen with teal cabinets and stainless steel appliances
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
$20,128
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
6.73%
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%
$402,560
$402.6K
Cap Rate 7%
$287,543
$287.5K
Cap Rate 9%
$223,644
$223.6K
Market Conditions
NOI Build-Up for 2,001 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
$30.0K $15.00/SF
− Vacancy
−$1.3K −$0.63/SF
EGI
$28.8K $14.37/SF
− OpEx
−$8.6K −$4.31/SF
NOI
$20.1K $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%
$402,560
Cap Rate 7%
$287,543
Cap Rate 9%
$223,644
Alternative Uses
Best Use
Multifamily LT 5
$287.5K
$251.6K – $335.5K
NOI $20,128 @ 7.0% cap · market cap 6.73%
Second Best
Apartment 5plus
$266.2K
$233.0K – $310.6K
NOI $18,637 @ 7.0% cap · market cap 6.23%
Theoretical Best
Office A
$480.9K
$420.8K – $561.0K
NOI $33,660 @ 7.0% cap · market cap 11.26%
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
1,008
Businesses Nearby
Explore this area
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
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 a three-bedroom first-floor residence, modernized interiors, and recent exterior improvements.
Where is this duplex located?
The property is located at 2416 S Burrell St Milwaukee, WI.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 2,001 SF duplex built in 1890; First‑floor owner's unit includes 3 bedrooms; Updated kitchen with teal cabinets and stainless steel appliances
