Updated Duplex with Detached
For Sale
$194,500
2639 N 55th St, Milwaukee, WI 53210
Two leased residences retain period architectural details and recent interior and exterior improvements.
Property Size1,877 SF
Price / SF$103.62
Days on Market29
Property Features for 2639 N 55th St
General Information
Standard status
Active
Size
1,877 SF
Total Parking Spaces
2
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$26,400
Taxes and HOA fees
Annual Taxes
$2,856
Building Details
Construction
bungalow
Listing Agency:
Keller Williams Milwaukee North Shore
(630) 806-1152
Listed By:
Justin Price
(630) 806-1152
Source:
Exprealty
Added: Aug 3
Changed: Aug 31
Last Checked: Aug 31 at 8:24AM
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 1,877-square-foot duplex near Uptown in Milwaukee contains two two-bedroom, one-bath residences. Leases are in place through May 2027, providing established occupancy for the property’s next owner. Recent work includes a new roof on both the residence and detached two-car garage, along with fresh paint inside and out.
Original bungalow character remains evident in the hardwood flooring, arched openings, and coved ceilings. The detached garage adds practical storage and parking capacity, while tenants handle gas, electric, lawn care, and snow removal under the current arrangement. The property is located at 2639 N 55th St.
Original bungalow character remains evident in the hardwood flooring, arched openings, and coved ceilings. The detached garage adds practical storage and parking capacity, while tenants handle gas, electric, lawn care, and snow removal under the current arrangement. The property is located at 2639 N 55th St.
Key Highlights
- 1,877‑square‑foot duplex with two 2‑bedroom, 1‑bath units
- Leases in place through May 2027
- New roof installed on the residence and detached 2‑car garage
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
$17,482
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
8.99%
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%
$349,640
$349.6K
Cap Rate 7%
$249,743
$249.7K
Cap Rate 9%
$194,244
$194.2K
Market Conditions
NOI Build-Up for 1,877 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
$33.1K $17.64/SF
− Vacancy
−$1.3K −$0.71/SF
EGI
$31.8K $16.93/SF
− OpEx
−$14.3K −$7.62/SF
NOI
$17.5K $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 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%
$349,640
Cap Rate 7%
$249,743
Cap Rate 9%
$194,244
Alternative Uses
Best Use
Multifamily LT 5
$269.7K
$236.0K – $314.7K
NOI $18,881 @ 7.0% cap · market cap 9.71%
Second Best
Apartment 5plus
$249.7K
$218.5K – $291.4K
NOI $17,482 @ 7.0% cap · market cap 8.99%
Theoretical Best
Office A
$451.1K
$394.7K – $526.2K
NOI $31,574 @ 7.0% cap · market cap 16.23%
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
1,326
Businesses Nearby
Explore this area
Business Placement
Demographics for 53210, WI
25,588
Population
11,005
Households
2.3
Avg Household Size
32
Median Age
23%
College-Educated
87%
High-School Grad
2.6 sq mi
ZIP Area
9,842
Density / Sq Mi
$45,268
Median Household Income
$35,797
Median Earnings
$1,044
Median Rent
$153,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two leased residences retain period architectural details and recent interior and exterior improvements.
Where is this duplex located?
The property is located at 2639 N 55th St Milwaukee, WI.
What is the asking price?
The asking price for this property is $194,500.
What are key features of this property?
This property features: 1,877‑square‑foot duplex with two 2‑bedroom, 1‑bath units; Leases in place through May 2027; New roof installed on the residence and detached 2‑car garage
