Two-Unit Duplex with
For Sale
$405,000
2727 S Austin St, Milwaukee, WI 53207
Separate utilities, central air, and a fenced yard serve two residential units in Milwaukee’s Bay View area.
Property Size1,994 SF
Price / SF$203.11
Days on Market11
Property Features for 2727 S Austin St
General Information
Standard status
Active
Size
1,994 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR, 1 x 2BR
Multifamily Units
2
Amenities
central air
fenced yard
Building Details
Year Built
1926
Buildings
1
Listing Agency:
Closing Time Realty, LLC
(414) 640-7338
Listed By:
Pat McMahon · License #5437190
Source:
Nikolicgroup
Added: Aug 21
Changed: Aug 29
Last Checked: Aug 30 at 7:26PM
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 Closing Time Realty, LLC
Investment Insights
Based on property information with market context.
Built in 1926, this 1,994-square-foot duplex includes a three-bedroom lower residence and a two-bedroom upper residence. Hardwood flooring and original character details are featured in the lower unit, while both residences benefit from central air and separate utilities. The property also includes a fenced yard and a one-car garage, supporting practical residential use or an owner-occupied arrangement.
Located at 2727 S Austin St in Milwaukee’s Bay View area, the duplex is near local cafes, boutiques, and restaurants. The roof was updated in 2016, most windows were replaced in 2017, and both furnaces date to approximately 2021.
Located at 2727 S Austin St in Milwaukee’s Bay View area, the duplex is near local cafes, boutiques, and restaurants. The roof was updated in 2016, most windows were replaced in 2017, and both furnaces date to approximately 2021.
Key Highlights
- 1,994 SF duplex built in 1926
- Three‑bedroom lower unit and two‑bedroom upper unit
- Separate utilities and central air
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
$20,058
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
4.95%
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%
$401,160
$401.2K
Cap Rate 7%
$286,543
$286.5K
Cap Rate 9%
$222,867
$222.9K
Market Conditions
NOI Build-Up for 1,994 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
$29.9K $15.00/SF
− Vacancy
−$1.3K −$0.63/SF
EGI
$28.7K $14.37/SF
− OpEx
−$8.6K −$4.31/SF
NOI
$20.1K $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%
$401,160
Cap Rate 7%
$286,543
Cap Rate 9%
$222,867
Alternative Uses
Best Use
Multifamily LT 5
$286.5K
$250.7K – $334.3K
NOI $20,058 @ 7.0% cap · market cap 4.95%
Second Best
Apartment 5plus
$265.3K
$232.2K – $309.5K
NOI $18,572 @ 7.0% cap · market cap 4.59%
Theoretical Best
Office A
$479.2K
$419.3K – $559.0K
NOI $33,542 @ 7.0% cap · market cap 8.28%
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
794
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
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 - Separate utilities, central air, and a fenced yard serve two residential units in Milwaukee’s Bay View area.
Where is this duplex located?
The property is located at 2727 S Austin St Milwaukee, WI.
What is the asking price?
The asking price for this property is $405,000.
What are key features of this property?
This property features: 1,994 SF duplex built in 1926; Three‑bedroom lower unit and two‑bedroom upper unit; Separate utilities and central air
