Updated Two-Family
For Sale
$324,900
2822 N 70th St, Milwaukee, WI 53210
Two-unit property with refreshed upper-level finishes, flexible lower-level space, and a newer oversized garage.
Property Size2,674 SF
Price / SF$121.50
Days on Market19
Property Features for 2822 N 70th St
General Information
Standard status
Active
Size
2,674 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
fireplace
rec room
flex room
laundry
raised deck
Building Details
Year Built
1947
Buildings
1
Listing Agency:
Coldwell Banker Homesale Realty - Wauwatosa
Listed By:
Realty Executives Southeast
(262) 443-0030
Source:
Therealestatestudiowi
Added: Sep 9
Changed: Sep 26
Last Checked: Sep 26 at 6:50AM
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 Coldwell Banker Homesale Realty - Wauwatosa
Investment Insights
Based on property information with market context.
Built in 1947, this 2,674-square-foot duplex contains two residential units, each with 2 bedrooms and 1 full bath. The main-level unit includes a living room with fireplace, dining room, and eat-in kitchen. The upper unit has updated flooring, neutral paint, an eat-in kitchen, dining room, and living room.
The finished lower level expands the property’s usable space with a recreation room, flex room, half bath, laundry area, and storage. Exterior features include green space, a raised deck, and an oversized newer 2.5-car garage. The property is located in Milwaukee’s Enderis Park area near the park, local amenities, and everyday conveniences.
The finished lower level expands the property’s usable space with a recreation room, flex room, half bath, laundry area, and storage. Exterior features include green space, a raised deck, and an oversized newer 2.5-car garage. The property is located in Milwaukee’s Enderis Park area near the park, local amenities, and everyday conveniences.
Key Highlights
- 2,674‑square‑foot duplex built in 1947
- Two units, each with 2 bedrooms and 1 full bath
- Upper unit features updated flooring and neutral paint
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
$26,898
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
8.28%
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%
$537,960
$538.0K
Cap Rate 7%
$384,257
$384.3K
Cap Rate 9%
$298,867
$298.9K
Market Conditions
NOI Build-Up for 2,674 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
$40.1K $15.00/SF
− Vacancy
−$1.7K −$0.63/SF
EGI
$38.4K $14.37/SF
− OpEx
−$11.5K −$4.31/SF
NOI
$26.9K $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%
$537,960
Cap Rate 7%
$384,257
Cap Rate 9%
$298,867
Alternative Uses
Best Use
Multifamily LT 5
$384.3K
$336.2K – $448.3K
NOI $26,898 @ 7.0% cap · market cap 8.28%
Second Best
Apartment 5plus
$355.8K
$311.3K – $415.1K
NOI $24,905 @ 7.0% cap · market cap 7.67%
Theoretical Best
Office A
$642.6K
$562.3K – $749.7K
NOI $44,981 @ 7.0% cap · market cap 13.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
468
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with refreshed upper-level finishes, flexible lower-level space, and a newer oversized garage.
Where is this duplex located?
The property is located at 2822 N 70th St Milwaukee, WI.
What is the asking price?
The asking price for this property is $324,900.
What are key features of this property?
This property features: 2,674‑square‑foot duplex built in 1947; Two units, each with 2 bedrooms and 1 full bath; Upper unit features updated flooring and neutral paint
