Remodeled Duplex with
For Sale
$349,900
2559 S 63rd St, Milwaukee, WI 53219
Updated two-unit property with new mechanical systems, refinished hardwood floors, and a detached two-car garage.
Property Size2,165 SF
Price / SF$161.62
Days on Market25
Property Features for 2559 S 63rd St
General Information
Standard status
Active
Size
2,165 SF
Total Parking Spaces
2
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,746
Building Details
Buildings
1
Listing Agency:
ERA MyPro Realty
(262) 470-1472
Listed By:
Haley Burlage
(262) 470-1472
Source:
Exprealty
Added: Aug 7
Changed: Aug 31
Last Checked: Aug 31 at 5:36AM
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 ERA MyPro Realty
Investment Insights
Based on property information with market context.
This 2,165-square-foot duplex at 2559 S 63rd St in Milwaukee has undergone a complete remodel. Improvements include new furnaces, air-conditioning systems, and water heaters, along with updated plumbing, electrical panels, kitchens, and bathrooms. Refinished hardwood floors add further interior improvement, while the basement includes drain tile and a new sump pump.
The property also features vinyl siding, replacement windows, and a roof that are approximately 8 years old. A detached two-car garage and spacious backyard provide useful exterior amenities. All ductwork has been professionally cleaned. The upper unit includes an additional room off the living room; it does not currently have a closet but could be converted into a third bedroom.
The property also features vinyl siding, replacement windows, and a roof that are approximately 8 years old. A detached two-car garage and spacious backyard provide useful exterior amenities. All ductwork has been professionally cleaned. The upper unit includes an additional room off the living room; it does not currently have a closet but could be converted into a third bedroom.
Key Highlights
- 2,165‑square‑foot duplex at 2559 S 63rd St in Milwaukee
- Complete remodel with updated kitchens, bathrooms, plumbing, and electrical panels
- New furnaces, ACs, and water heaters
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
$21,710
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
6.20%
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%
$434,200
$434.2K
Cap Rate 7%
$310,143
$310.1K
Cap Rate 9%
$241,222
$241.2K
Market Conditions
NOI Build-Up for 2,165 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
$32.5K $15.00/SF
− Vacancy
−$1.5K −$0.68/SF
EGI
$31.0K $14.33/SF
− OpEx
−$9.3K −$4.30/SF
NOI
$21.7K $10.03/SF
Area
ZIP 53219
Vacancy
4.50%
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%
$434,200
Cap Rate 7%
$310,143
Cap Rate 9%
$241,222
Alternative Uses
Best Use
Multifamily LT 5
$310.1K
$271.4K – $361.8K
NOI $21,710 @ 7.0% cap · market cap 6.20%
Second Best
Apartment 5plus
$277.7K
$243.0K – $324.0K
NOI $19,438 @ 7.0% cap · market cap 5.56%
Theoretical Best
Office A
$520.3K
$455.2K – $607.0K
NOI $36,419 @ 7.0% cap · market cap 10.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
385
Businesses Nearby
Explore this area
Business Placement
Demographics for 53219, WI
34,925
Population
15,661
Households
2.2
Avg Household Size
38
Median Age
26%
College-Educated
90%
High-School Grad
5.0 sq mi
ZIP Area
6,985
Density / Sq Mi
$70,998
Median Household Income
$43,223
Median Earnings
$971
Median Rent
$190,300
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 - Updated two-unit property with new mechanical systems, refinished hardwood floors, and a detached two-car garage.
Where is this duplex located?
The property is located at 2559 S 63rd St Milwaukee, WI.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 2,165‑square‑foot duplex at 2559 S 63rd St in Milwaukee; Complete remodel with updated kitchens, bathrooms, plumbing, and electrical panels; New furnaces, ACs, and water heaters
