Duplex with Hardwood
For Sale
$449,000
2960 N Maryland Ave, Milwaukee, WI 53211
Two residential units offer distinct layouts, porch areas, and off-street parking near UWM.
Property Size3,923 SF
Price / SF$114.45
Days on Market60
Property Features for 2960 N Maryland Ave
General Information
Standard status
Active
Size
3,923 SF
Property subtype
Multi-Family
Units
Unit Mix
3BR/1BA, 5BR/2BA
Multifamily Units
2
Amenities
original woodwork
hardwood floors
balcony/porch areas
Building Details
Year Built
1921
Buildings
1
Listing Agency:
Compass RE WI-Northshore
Listed By:
Horizon Homes Group* · License #6031390
(414) 441-6925
Source:
Nikolicgroup
Added: Aug 22
Changed: Oct 2
Last Checked: Oct 7 at 4:13PM
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
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Investment Insights
Based on property information with market context.
This 1921 duplex at 2960 N Maryland Ave Unit 2962 includes two residential units with separate bedroom and bathroom configurations. The lower unit has 3 bedrooms and 1 bathroom, while the upper unit provides 5 bedrooms and 2 bathrooms. Original woodwork and hardwood floors add period character, and two balcony or porch areas extend the usable space.
The property is near UWM in Milwaukee’s Upper East Side. A parking slab provides off-street parking for up to 3+ cars. The exterior has been refreshed, giving the building an updated presentation while retaining its original interior details.
The property is near UWM in Milwaukee’s Upper East Side. A parking slab provides off-street parking for up to 3+ cars. The exterior has been refreshed, giving the building an updated presentation while retaining its original interior details.
Key Highlights
- Lower unit includes 3 bed - 1 bath
- Upper unit includes 5 beds - 2 bath
- Near UWM in Milwaukee’s Upper East Side
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,461
Cap Rate
8.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$789,220
$789.2K
Cap Rate 7%
$563,729
$563.7K
Cap Rate 9%
$438,456
$438.5K
Market Conditions
NOI Build-Up for 3,923 SF
Gross rent
$58.8K $15.00/SF
− Vacancy
−$2.5K −$0.63/SF
EGI
$56.4K $14.37/SF
− OpEx
−$16.9K −$4.31/SF
NOI
$39.5K $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%
$789,220
Cap Rate 7%
$563,729
Cap Rate 9%
$438,456
Alternative Uses
Best Use
Multifamily LT 5
$563.7K
$493.3K – $657.7K
NOI $39,461 @ 7.0% cap · market cap 8.79%
Second Best
Apartment 5plus
$522.0K
$456.7K – $609.0K
NOI $36,539 @ 7.0% cap · market cap 8.14%
Theoretical Best
Office A
$942.7K
$824.9K – $1.10M
NOI $65,991 @ 7.0% cap · market cap 14.70%
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
945
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer distinct layouts, porch areas, and off-street parking near UWM.
Where is this duplex located?
The property is located at 2960 N Maryland Ave Milwaukee, WI.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Lower unit includes 3 bed - 1 bath; Upper unit includes 5 beds - 2 bath; Near UWM in Milwaukee’s Upper East Side
