Two-Unit Duplex
For Sale
$225,000
2511 N Buffum St, Milwaukee, WI 53212
Duplex generates monthly rental income and includes a six-car garage producing additional revenue.
Property Size2,016 SF
Price / SF$111.61
Days on Market47
Property Features for 2511 N Buffum St
General Information
Standard status
Active
Size
2,016 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1910
Tenancy
Multi
Listing Agency:
Keller Williams Milwaukee North Shore
Listed By:
Randy Lee
Source:
Levelupwi
Added: Jul 20
Changed: Sep 3
Last Checked: Sep 1 at 10:01PM
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 Keller Williams Milwaukee North Shore
Investment Insights
Based on property information with market context.
This Harambee-area duplex offers two rental units generating $1,760 per month, with an additional six-car garage that produces $500 per month. The property is presented as a residential income investment.
The listing notes a related multifamily investment property next door is also available under MLS# 1966364.
With both unit and garage income identified in the remarks, the configuration supports a straightforward revenue-focused ownership structure.
The listing notes a related multifamily investment property next door is also available under MLS# 1966364.
With both unit and garage income identified in the remarks, the configuration supports a straightforward revenue-focused ownership structure.
Key Highlights
- Harambee duplex with estimated monthly rental income of $1,760
- Includes a 6‑car garage generating additional estimated $500 per month
- 2 bedrooms and 1 full bathroom (U1)
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
$20,279
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
9.01%
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%
$405,580
$405.6K
Cap Rate 7%
$289,700
$289.7K
Cap Rate 9%
$225,322
$225.3K
Market Conditions
NOI Build-Up for 2,016 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
$30.2K $15.00/SF
− Vacancy
−$1.3K −$0.63/SF
EGI
$29.0K $14.37/SF
− OpEx
−$8.7K −$4.31/SF
NOI
$20.3K $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%
$405,580
Cap Rate 7%
$289,700
Cap Rate 9%
$225,322
Alternative Uses
Best Use
Multifamily LT 5
$289.7K
$253.5K – $338.0K
NOI $20,279 @ 7.0% cap · market cap 9.01%
Second Best
Apartment 5plus
$268.2K
$234.7K – $313.0K
NOI $18,777 @ 7.0% cap · market cap 8.35%
Theoretical Best
Office A
$484.5K
$423.9K – $565.2K
NOI $33,912 @ 7.0% cap · market cap 15.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,089
Businesses Nearby
Explore this area
Business Placement
Demographics for 53212, WI
28,702
Population
15,749
Households
1.8
Avg Household Size
32
Median Age
37%
College-Educated
91%
High-School Grad
4.1 sq mi
ZIP Area
7,000
Density / Sq Mi
$42,679
Median Household Income
$36,578
Median Earnings
$1,038
Median Rent
$204,300
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 - Duplex generates monthly rental income and includes a six-car garage producing additional revenue.
Where is this duplex located?
The property is located at 2511 N Buffum St Milwaukee, WI.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Harambee duplex with estimated monthly rental income of $1,760; Includes a 6‑car garage generating additional estimated $500 per month; 2 bedrooms and 1 full bathroom (U1)
