Vacant Duplex with Off-Street
For Sale
$299,900
2477 S Burrell St, Milwaukee, WI 53207
Vacant duplex in Bay View with off-street and street parking, each unit offering at least three bedrooms.
Property Size2,564 SF
Price / SF$116.97
Days on Market31
Property Features for 2477 S Burrell St
General Information
Standard status
Active
Size
2,564 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$7,273
Building Details
Buildings
1
Listing Agency:
First Weber Inc -NPW
(414) 801-9005
Listed By:
Melanie Royer
(414) 801-9005
Source:
Exprealty
Added: Jul 24
Changed: Aug 21
Last Checked: Aug 23 at 2:51AM
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 First Weber Inc -NPW
Investment Insights
Based on property information with market context.
Vacant duplex in Bay View, offered as a cash-only purchase and not financeable. Each unit is described as having at least 3 bedrooms, making the property well-suited for an investor, contractor, or owner-occupant planning renovations. The property includes off-street parking plus plenty of street parking, and there is no garage.
Located at 2477 S Burrell St in Milwaukee’s West Bay View area, the duplex is positioned close to restaurants, parks, shopping, and commuter routes.
Per seller, the roof was installed in 2017. The property size is 2,564 SF, providing a renovation opportunity for buyers looking to add value through updates.
Located at 2477 S Burrell St in Milwaukee’s West Bay View area, the duplex is positioned close to restaurants, parks, shopping, and commuter routes.
Per seller, the roof was installed in 2017. The property size is 2,564 SF, providing a renovation opportunity for buyers looking to add value through updates.
Key Highlights
- Vacant duplex sold as cash‑only purchase, not financeable
- Each unit has at least 3 bedrooms
- Off‑street parking plus plenty of street parking
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
$25,791
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
8.60%
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%
$515,820
$515.8K
Cap Rate 7%
$368,443
$368.4K
Cap Rate 9%
$286,567
$286.6K
Market Conditions
NOI Build-Up for 2,564 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
$38.5K $15.00/SF
− Vacancy
−$1.6K −$0.63/SF
EGI
$36.8K $14.37/SF
− OpEx
−$11.1K −$4.31/SF
NOI
$25.8K $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%
$515,820
Cap Rate 7%
$368,443
Cap Rate 9%
$286,567
Alternative Uses
Best Use
Multifamily LT 5
$368.4K
$322.4K – $429.9K
NOI $25,791 @ 7.0% cap · market cap 8.60%
Second Best
Apartment 5plus
$341.2K
$298.5K – $398.0K
NOI $23,881 @ 7.0% cap · market cap 7.96%
Theoretical Best
Office A
$616.2K
$539.1K – $718.9K
NOI $43,131 @ 7.0% cap · market cap 14.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,005
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 - Vacant duplex in Bay View with off-street and street parking, each unit offering at least three bedrooms.
Where is this duplex located?
The property is located at 2477 S Burrell St Milwaukee, WI.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Vacant duplex sold as cash‑only purchase, not financeable; Each unit has at least 3 bedrooms; Off‑street parking plus plenty of street parking
