Up/Down Duplex with
New
For Sale
$374,900
2643 N Murray Ave, Milwaukee, WI 53211
Two separate residences include private kitchens and living rooms, with basement storage and a detached garage.
Property Size1,632 SF
Price / SF$229.72
Days on Market2
Property Features for 2643 N Murray Ave
General Information
Standard status
Active
Size
1,632 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Murray Hill
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1890
Buildings
1
Listing Agency:
Forward Realty Partners
Listed By:
Avenue Real Estate
(920) 893-3001
Source:
Avenueret
Added: Oct 23
Last Checked: Oct 23 at 4:10AM
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 Forward Realty Partners
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Investment Insights
Based on property information with market context.
Built in 1890, this 1,632-square-foot up-and-down duplex contains two apartments, each with two bedrooms, one bathroom, a living room and a kitchen. The full basement and detached 2.5-car garage add utility to the property. Appliances include a refrigerator, stove and microwave in each unit, along with one washer and one dryer; two dehumidifiers are in the basement. The property is offered as-is.
The duplex is near UWM, Downer Avenue, North Avenue dining, the Oak Leaf Trail and Lake Michigan. Downtown Milwaukee is two miles south.
The duplex is near UWM, Downer Avenue, North Avenue dining, the Oak Leaf Trail and Lake Michigan. Downtown Milwaukee is two miles south.
Key Highlights
- Two apartments, each configured with 2 bedrooms and 1 bathroom
- 1,632 square feet; built in 1890
- Full basement and detached 2.5‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,416
Cap Rate
4.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$328,320
$328.3K
Cap Rate 7%
$234,514
$234.5K
Cap Rate 9%
$182,400
$182.4K
Market Conditions
NOI Build-Up for 1,632 SF
Gross rent
$24.5K $15.00/SF
− Vacancy
−$1.0K −$0.63/SF
EGI
$23.5K $14.37/SF
− OpEx
−$7.0K −$4.31/SF
NOI
$16.4K $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 Rate 5%
$328,320
Cap Rate 7%
$234,514
Cap Rate 9%
$182,400
Alternative Uses
Best Use
Multifamily LT 5
$234.5K
$205.2K – $273.6K
NOI $16,416 @ 7.0% cap · market cap 4.38%
Second Best
Apartment 5plus
$217.1K
$190.0K – $253.3K
NOI $15,200 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$392.2K
$343.2K – $457.6K
NOI $27,453 @ 7.0% cap · market cap 7.32%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,899
Businesses Nearby
Explore this area
Business Placement
Demographics for 53211, WI
36,327
Population
16,346
Households
2.2
Avg Household Size
29
Median Age
74%
College-Educated
98%
High-School Grad
4.0 sq mi
ZIP Area
9,082
Density / Sq Mi
$76,206
Median Household Income
$40,214
Median Earnings
$1,225
Median Rent
$413,500
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
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences include private kitchens and living rooms, with basement storage and a detached garage.
Where is this duplex located?
The property is located at 2643 N Murray Ave Milwaukee, WI.
What is the asking price?
The asking price for this property is $374,900.
What are key features of this property?
This property features: Two apartments, each configured with 2 bedrooms and 1 bathroom; 1,632 square feet; built in 1890; Full basement and detached 2.5‑car garage
