Updated Side-by-Side
For Sale
$699,000
2586 S Austin St, Milwaukee, WI 53207
Two residential units offer private entrances, yard space, and tandem two-car garages.
Property Size2,570 SF
Price / SF$271.98
Days on Market18
Property Features for 2586 S Austin St
General Information
Standard status
Active
Size
2,570 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/2.5BA
Multifamily Units
2
Parking per Unit
2
Amenities
front balconies
private entrance
yard space
additional storage
huge backyard
second floor laundry
Building Details
Year Built
2009
Buildings
1
Listing Agency:
Keller Williams Milwaukee North Shore
Listed By:
William Lauer Group* · License #86953-94
(414) 962-3605
Source:
Levelupwi
Added: Sep 10
Changed: Sep 15
Last Checked: Sep 26 at 10:00AM
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.
Built in 2009, this side-by-side duplex contains two updated residential units with private entrances and separate yard areas. Each unit includes 2 bedrooms, 2.5 baths, an open main-level layout, and a living room connected to the kitchen and dining space. The upper level adds a primary suite with a private full bath, a second bedroom and full bath, and laundry facilities. Each residence also has a main-floor half bath, additional storage, and a tandem 2-car garage.
The property is located in Bay View, just blocks from restaurants, shops, parks, and entertainment. A new roof, front balconies, and a large shared backyard add to the property's physical features and outdoor appeal.
The property is located in Bay View, just blocks from restaurants, shops, parks, and entertainment. A new roof, front balconies, and a large shared backyard add to the property's physical features and outdoor appeal.
Key Highlights
- Side‑by‑side duplex built in 2009
- Each unit has 2 bedrooms and 2.5 baths
- Private entrances, yard space, and tandem 2‑car garages
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
$25,852
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
3.70%
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%
$517,040
$517.0K
Cap Rate 7%
$369,314
$369.3K
Cap Rate 9%
$287,244
$287.2K
Market Conditions
NOI Build-Up for 2,570 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
$38.6K $15.00/SF
− Vacancy
−$1.6K −$0.63/SF
EGI
$36.9K $14.37/SF
− OpEx
−$11.1K −$4.31/SF
NOI
$25.9K $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%
$517,040
Cap Rate 7%
$369,314
Cap Rate 9%
$287,244
Alternative Uses
Best Use
Multifamily LT 5
$369.3K
$323.2K – $430.9K
NOI $25,852 @ 7.0% cap · market cap 3.70%
Second Best
Apartment 5plus
$342.0K
$299.2K – $399.0K
NOI $23,937 @ 7.0% cap · market cap 3.42%
Theoretical Best
Office A
$617.6K
$540.4K – $720.5K
NOI $43,232 @ 7.0% cap · market cap 6.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
841
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer private entrances, yard space, and tandem two-car garages.
Where is this duplex located?
The property is located at 2586 S Austin St Milwaukee, WI.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Side‑by‑side duplex built in 2009; Each unit has 2 bedrooms and 2.5 baths; Private entrances, yard space, and tandem 2‑car garages
