Bayview Four Family
For Sale
$575,000
Pending
2440 South Wentworth Avenue, Milwaukee, WI 53207
Spacious one-bedroom units in desirable Milwaukee location.
Property Size2,722 SF
Days on Market111
Property Features for 2440 South Wentworth Avenue
General Information
Standard status
Pending
Size
2,722 SF
Property subtype
Multi-Family / Multi-Family
Amenities
Walk Out/Outer Door, Yes
Aluminum Siding
Building Details
Year Built
1893
Listing Agency:
Compass
(414) 243-9836
Listed By:
Shar Borg Team · License #66172-94
(414) 243-9836
Source:
Compass
Added: May 11
Changed: Aug 8
Last Checked: Aug 7 at 7:10AM
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 Compass
Investment Insights
Based on property information with market context.
This Bayview four-family property is suitable for either an owner-occupant or an investor. The property features spacious one-bedroom units, each equipped with hardwood floors, fireplaces, updated kitchens, and in-unit laundry facilities. It is located in one of Milwaukee's desirable communities, within walking distance of the lake, coffee shops, grocery stores, restaurants, and the shops on Kinnickinnic Avenue. The property size is 2722 square feet. Rents have been kept below market value, presenting an opportunity for growth, with comparable units renting for $1000 per month.
Key Highlights
- Four‑family property in the highly desirable Bayview neighborhood.
- Excellent investment opportunity with below‑market rents and potential for increased income.
- Spacious one‑bedroom units with desirable features including hardwood floors, fireplaces, updated kitchens, and in‑unit laundry.
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
$27,381
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
4.76%
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%
$547,620
$547.6K
Cap Rate 7%
$391,157
$391.2K
Cap Rate 9%
$304,233
$304.2K
Market Conditions
NOI Build-Up for 2,722 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
$40.8K $15.00/SF
− Vacancy
−$1.7K −$0.63/SF
EGI
$39.1K $14.37/SF
− OpEx
−$11.7K −$4.31/SF
NOI
$27.4K $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%
$547,620
Cap Rate 7%
$391,157
Cap Rate 9%
$304,233
Alternative Uses
Best Use
Multifamily LT 5
$391.2K
$342.3K – $456.4K
NOI $27,381 @ 7.0% cap · market cap 4.76%
Second Best
Apartment 5plus
$362.2K
$316.9K – $422.5K
NOI $25,352 @ 7.0% cap · market cap 4.41%
Theoretical Best
Office A
$654.1K
$572.4K – $763.1K
NOI $45,788 @ 7.0% cap · market cap 7.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
526
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?
Quadplex - Spacious one-bedroom units in desirable Milwaukee location.
Where is this quadplex located?
The property is located at 2440 South Wentworth Avenue Milwaukee, WI.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Four‑family property in the highly desirable Bayview neighborhood.; Excellent investment opportunity with below‑market rents and potential for increased income.; Spacious one‑bedroom units with desirable features including hardwood floors, fireplaces, updated kitchens, and in‑unit laundry.
