Three-Unit Triplex with Upper
For Sale
$319,900
2807 South 9th Street, Milwaukee, WI 53215
Includes maple flooring, an upper-level deck, household appliances, and usable backyard space.
Property Size1,552 SF
Price / SF$206.12
Days on Market90
Property Features for 2807 South 9th Street
General Information
Standard status
Active
Size
1,552 SF
Property subtype
Multi-Family / Multi-Family
Net Operating Income
$23,400
Additional Details
Highway Access
Yes
Multifamily Units
3
Amenities
Block, Full, Yes
Aluminum Siding
Building Details
Year Built
1914
Buildings
1
Listing Agency:
Abundance Real Estate
(414) 331-7721
Listed By:
Jan Van Dulm · License #76373-94
(414) 331-7721
Source:
Compass
Added: Jun 2
Changed: Aug 29
Last Checked: Aug 29 at 7:19PM
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 Abundance Real Estate
Investment Insights
Based on property information with market context.
This 1914 triplex at 2807 South 9th Street contains three residential units and includes several notable interior and exterior features. The main level has maple hardwood flooring and a custom tiled bathroom floor, while updated paintwork and included appliances contribute to the property’s overall presentation. The upper unit offers a balcony or deck, and residents have access to backyard space.
The property is located in Milwaukee’s Polonia Neighborhood, near schools, parks, restaurants, cafes, and shopping. Humboldt Park and South Shore Park are among the nearby recreational destinations, with interstate access also available from the area. The configuration may accommodate either an owner-occupant or a multifamily investor, as stated in the property information.
The property is located in Milwaukee’s Polonia Neighborhood, near schools, parks, restaurants, cafes, and shopping. Humboldt Park and South Shore Park are among the nearby recreational destinations, with interstate access also available from the area. The configuration may accommodate either an owner-occupant or a multifamily investor, as stated in the property information.
Key Highlights
- Three‑unit residential building constructed in 1914
- Maple hardwood floors on the main level
- Custom tile bathroom floor on the main level
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
$18,053
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
5.64%
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%
$361,060
$361.1K
Cap Rate 7%
$257,900
$257.9K
Cap Rate 9%
$200,589
$200.6K
Market Conditions
NOI Build-Up for 1,552 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
$27.0K $17.40/SF
− Vacancy
−$1.2K −$0.78/SF
EGI
$25.8K $16.62/SF
− OpEx
−$7.7K −$4.99/SF
NOI
$18.1K $11.63/SF
Area
ZIP 53215
Vacancy
4.50%
Lease Rate
$17.40 /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%
$361,060
Cap Rate 7%
$257,900
Cap Rate 9%
$200,589
Alternative Uses
Best Use
Multifamily LT 5
$257.9K
$225.7K – $300.9K
NOI $18,053 @ 7.0% cap · market cap 5.64%
Second Best
Apartment 5plus
$231.3K
$202.4K – $269.9K
NOI $16,191 @ 7.0% cap · market cap 5.06%
Theoretical Best
Warehouse
$1.18M
$1.03M – $1.37M
NOI $82,349 @ 7.0% cap · market cap 25.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
689
Businesses Nearby
Explore this area
Business Placement
Demographics for 53215, WI
59,359
Population
21,307
Households
2.8
Avg Household Size
31
Median Age
11%
College-Educated
67%
High-School Grad
5.5 sq mi
ZIP Area
10,793
Density / Sq Mi
$49,207
Median Household Income
$32,261
Median Earnings
$933
Median Rent
$148,400
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?
Triplex - Includes maple flooring, an upper-level deck, household appliances, and usable backyard space.
Where is this triplex located?
The property is located at 2807 South 9th Street Milwaukee, WI.
What is the asking price?
The asking price for this property is $319,900.
What are key features of this property?
This property features: Three‑unit residential building constructed in 1914; Maple hardwood floors on the main level; Custom tile bathroom floor on the main level
