Duplex with Two-Bedroom Unit
For Sale
$359,900
Pending
2967 S 38th St, Milwaukee, WI 53215
The two-unit property offers a three-bedroom lower residence and a one-bedroom upper residence.
Property Size2,076 SF
Days on Market12
Property Features for 2967 S 38th St
General Information
Standard status
Pending
Size
2,076 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Layton Park
Public Transit
Yes
Units
Unit Mix
1 x 3BR, 1 x 1BR
Multifamily Units
2
Building Details
Year Built
1964
Listing Agency:
The Rosemont Group Realty LLC
Listed By:
Avenue Real Estate
(920) 893-3001
Source:
Avenueret
Added: Oct 24
Changed: Nov 3
Last Checked: Nov 3 at 6:06AM
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 The Rosemont Group Realty LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1964, this duplex contains 2,076 square feet across two residences. The lower unit has three bedrooms, while the upper unit has one bedroom, providing a distinct unit mix within the building.
Key Highlights
- 2,076‑square‑foot duplex
- Lower residence has 3 bedrooms
- Upper residence has 1 bedroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,148
Cap Rate
6.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$482,960
$483.0K
Cap Rate 7%
$344,971
$345.0K
Cap Rate 9%
$268,311
$268.3K
Market Conditions
NOI Build-Up for 2,076 SF
Gross rent
$36.1K $17.40/SF
− Vacancy
−$1.6K −$0.78/SF
EGI
$34.5K $16.62/SF
− OpEx
−$10.3K −$4.99/SF
NOI
$24.1K $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 Rate 5%
$482,960
Cap Rate 7%
$344,971
Cap Rate 9%
$268,311
Alternative Uses
Best Use
Multifamily LT 5
$345.0K
$301.9K – $402.5K
NOI $24,148 @ 7.0% cap · market cap 6.71%
Second Best
Apartment 5plus
$309.4K
$270.7K – $361.0K
NOI $21,658 @ 7.0% cap · market cap 6.02%
Theoretical Best
Warehouse
$1.57M
$1.38M – $1.84M
NOI $110,153 @ 7.0% cap · market cap 30.61%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,852
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - The two-unit property offers a three-bedroom lower residence and a one-bedroom upper residence.
Where is this duplex located?
The property is located at 2967 S 38th St Milwaukee, WI.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: 2,076‑square‑foot duplex; Lower residence has 3 bedrooms; Upper residence has 1 bedroom
