Two-Unit Duplex with Finished
New
For Sale
$259,900
2478 S 5th St, Milwaukee, WI 53207
Separate utilities and finished bonus areas add flexibility across the two residences.
Property Size2,556 SF
Price / SF$101.68
Days on Market2
Property Features for 2478 S 5th St
General Information
Standard status
Active
Size
2,556 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Lincoln Village
Units
Unit Mix
1 x 2BR/1.5BA, 1 x 3BR/1BA
Multifamily Units
2
Individually Metered Utilities
unspecified utilities
Amenities
finished basement
finished attic
stainless steel appliances
front and back porches
fenced-in backyard
shared laundry area
washer and dryer
Building Details
Year Built
1913
Buildings
1
Listing Agency:
Mierow Realty
Listed By:
Realty Executives Southeast
(262) 443-0030
Source:
Therealestatestudiowi
Added: Oct 23
Last Checked: Oct 23 at 4:51PM
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 Mierow Realty
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Investment Insights
Based on property information with market context.
This Milwaukee duplex contains 2,556 square feet across two residences. The lower unit has two bedrooms, 1.5 baths, a large kitchen, and a spacious living room, with additional finished basement space. The upper unit includes three bedrooms, one bath, and finished attic space. Both units have newer stainless steel appliances.
Separate utilities, a shared basement laundry area with a newer washer and dryer, and furnaces identified as 2023 and 2025 serve the property. Front and rear porches, a fenced backyard, and street parking are also part of the offering. St. Augustine Prep Academy is within walking distance.
Separate utilities, a shared basement laundry area with a newer washer and dryer, and furnaces identified as 2023 and 2025 serve the property. Front and rear porches, a fenced backyard, and street parking are also part of the offering. St. Augustine Prep Academy is within walking distance.
Key Highlights
- 2,556‑square‑foot duplex with two residences
- Lower unit: 2 bedrooms, 1.5 baths, and finished basement space
- Upper unit: 3 bedrooms, 1 bath, and finished attic space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,806
Cap Rate
9.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$476,120
$476.1K
Cap Rate 7%
$340,086
$340.1K
Cap Rate 9%
$264,511
$264.5K
Market Conditions
NOI Build-Up for 2,556 SF
Gross rent
$45.1K $17.64/SF
− Vacancy
−$1.8K −$0.71/SF
EGI
$43.3K $16.93/SF
− OpEx
−$19.5K −$7.62/SF
NOI
$23.8K $9.31/SF
Area
Milwaukee, WI
Vacancy
4.00%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$476,120
Cap Rate 7%
$340,086
Cap Rate 9%
$264,511
Alternative Uses
Best Use
Multifamily LT 5
$367.3K
$321.4K – $428.5K
NOI $25,711 @ 7.0% cap · market cap 9.89%
Second Best
Apartment 5plus
$340.1K
$297.6K – $396.8K
NOI $23,806 @ 7.0% cap · market cap 9.16%
Theoretical Best
Office A
$614.2K
$537.5K – $716.6K
NOI $42,996 @ 7.0% cap · market cap 16.54%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
875
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Separate utilities and finished bonus areas add flexibility across the two residences.
Where is this duplex located?
The property is located at 2478 S 5th St Milwaukee, WI.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: 2,556‑square‑foot duplex with two residences; Lower unit: 2 bedrooms, 1.5 baths, and finished basement space; Upper unit: 3 bedrooms, 1 bath, and finished attic space
