Brick Duplex with Covered
For Sale
$409,900
2537 W Bridge St, Milwaukee, WI 53221
Two-unit property with separate three-bedroom and two-bedroom residences, a side driveway, and off-street parking.
Property Size1,849 SF
Price / SF$221.69
Days on Market9
Property Features for 2537 W Bridge St
General Information
Standard status
Active
Size
1,849 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR, 1 x 2BR
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
covered porch
Building Details
Year Built
1965
Buildings
1
Construction
brick
Listing Agency:
RE/MAX Lakeside-South
(414) 736-3887
Listed By:
Maritza Rodriguez · License #64172-094
Source:
Levelupwi
Added: Aug 22
Changed: Aug 29
Last Checked: Aug 29 at 8:07PM
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 RE/MAX Lakeside-South
Investment Insights
Based on property information with market context.
Built in 1965, this brick duplex contains a three-bedroom lower residence and a two-bedroom upper residence. The upper unit adds a covered porch, while the property also includes a side driveway supporting off-street parking. The layout provides two distinct residential spaces within one building and may suit an owner-occupant or rental ownership strategy.
The property is located at 2537 W Bridge St in Milwaukee, near Milwaukee Mitchell International Airport, shopping, dining, schools, and major highways. Its residential setting and two-unit configuration create a straightforward multifamily format for an owner or investor.
The property is located at 2537 W Bridge St in Milwaukee, near Milwaukee Mitchell International Airport, shopping, dining, schools, and major highways. Its residential setting and two-unit configuration create a straightforward multifamily format for an owner or investor.
Key Highlights
- Brick duplex built in 1965
- Three‑bedroom lower unit
- Two‑bedroom upper unit
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
$19,814
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
4.83%
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%
$396,280
$396.3K
Cap Rate 7%
$283,057
$283.1K
Cap Rate 9%
$220,156
$220.2K
Market Conditions
NOI Build-Up for 1,849 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 $16.20/SF
− Vacancy
−$1.6K −$0.89/SF
EGI
$28.3K $15.31/SF
− OpEx
−$8.5K −$4.59/SF
NOI
$19.8K $10.72/SF
Area
ZIP 53221
Vacancy
5.50%
Lease Rate
$16.20 /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%
$396,280
Cap Rate 7%
$283,057
Cap Rate 9%
$220,156
Alternative Uses
Best Use
Multifamily LT 5
$283.1K
$247.7K – $330.2K
NOI $19,814 @ 7.0% cap · market cap 4.83%
Second Best
Apartment 5plus
$251.3K
$219.9K – $293.1K
NOI $17,588 @ 7.0% cap · market cap 4.29%
Theoretical Best
Warehouse
$1.40M
$1.23M – $1.64M
NOI $98,108 @ 7.0% cap · market cap 23.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
385
Businesses Nearby
Explore this area
Business Placement
Demographics for 53221, WI
39,560
Population
17,126
Households
2.3
Avg Household Size
38
Median Age
25%
College-Educated
87%
High-School Grad
9.0 sq mi
ZIP Area
4,396
Density / Sq Mi
$61,640
Median Household Income
$41,430
Median Earnings
$1,071
Median Rent
$205,500
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 separate three-bedroom and two-bedroom residences, a side driveway, and off-street parking.
Where is this duplex located?
The property is located at 2537 W Bridge St Milwaukee, WI.
What is the asking price?
The asking price for this property is $409,900.
What are key features of this property?
This property features: Brick duplex built in 1965; Three‑bedroom lower unit; Two‑bedroom upper unit
