Brick Duplex With Detached
For Sale
$299,000
2728 N Carlton Pl, Milwaukee, WI 53210
Two residential units include updated mechanical systems, finished lower-level space, and convenient off-street parking.
Property Size1,886 SF
Price / SF$158.54
Days on Market52
Property Features for 2728 N Carlton Pl
General Information
Standard status
Active
Size
1,886 SF
Total Parking Spaces
2
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,863
Building Details
Buildings
1
Construction
brick
Listing Agency:
Compass RE WI-Northshore
(414) 441-6925
Listed By:
Horizon Homes Group*
(414) 441-6925
Source:
Exprealty
Added: Jun 19
Changed: Aug 4
Last Checked: Aug 9 at 10:45AM
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 Compass RE WI-Northshore
Investment Insights
Based on property information with market context.
This 1,886-square-foot brick duplex provides two distinct residential units. The lower residence includes hardwood flooring, an eat-in kitchen, three bedrooms, and a full bathroom. Upstairs, the layout offers a living room with crown molding, a kitchen, two bedrooms, one full bathroom, and additional storage. Finished basement area with egress adds usable interior space.
Building systems include two newer furnaces with central AC, along with a radon mitigation system and sump pump. A detached two-car garage provides on-site parking, while additional parking is available on the street. The property is in Milwaukee’s Enderis Park neighborhood, approximately a half block from Wauwatosa.
Building systems include two newer furnaces with central AC, along with a radon mitigation system and sump pump. A detached two-car garage provides on-site parking, while additional parking is available on the street. The property is in Milwaukee’s Enderis Park neighborhood, approximately a half block from Wauwatosa.
Key Highlights
- 1,886‑square‑foot brick duplex with two residential units
- Lower unit includes hardwood floors, eat‑in kitchen, 3 bedrooms, and full bath
- Upper unit features crown molding, 2 bedrooms, full bath, and extra storage
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
$18,971
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
6.34%
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%
$379,420
$379.4K
Cap Rate 7%
$271,014
$271.0K
Cap Rate 9%
$210,789
$210.8K
Market Conditions
NOI Build-Up for 1,886 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
$28.3K $15.00/SF
− Vacancy
−$1.2K −$0.63/SF
EGI
$27.1K $14.37/SF
− OpEx
−$8.1K −$4.31/SF
NOI
$19.0K $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%
$379,420
Cap Rate 7%
$271,014
Cap Rate 9%
$210,789
Alternative Uses
Best Use
Multifamily LT 5
$271.0K
$237.1K – $316.2K
NOI $18,971 @ 7.0% cap · market cap 6.34%
Second Best
Apartment 5plus
$250.9K
$219.6K – $292.8K
NOI $17,566 @ 7.0% cap · market cap 5.87%
Theoretical Best
Office A
$453.2K
$396.6K – $528.8K
NOI $31,726 @ 7.0% cap · market cap 10.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
769
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units include updated mechanical systems, finished lower-level space, and convenient off-street parking.
Where is this duplex located?
The property is located at 2728 N Carlton Pl Milwaukee, WI.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 1,886‑square‑foot brick duplex with two residential units; Lower unit includes hardwood floors, eat‑in kitchen, 3 bedrooms, and full bath; Upper unit features crown molding, 2 bedrooms, full bath, and extra storage
