Updated Duplex with Separate
New
For Sale
$520,000
3006 N Murray AVENUE Unit 3008, Milwaukee, WI 53211
Two high-efficiency furnaces and separately metered utilities serve the two-unit property.
Property Size3,030 SF
Price / SF$171.62
Days on Market7
Property Features for 3006 N Murray AVENUE Unit 3008
General Information
Standard status
Active
Size
3,030 SF
Property subtype
Multi Family
Site & Location
Neighborhood
Upper East Side
Building Details
Year Built
1916
Listing Agency:
Shorewest Realtors, Inc.
Listed By:
Jamie Ludlow
(414) 232-7775
Source:
Lakecountryflatfee
Added: Oct 26
Changed: Oct 28
Last Checked: Nov 1 at 2:45AM
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 Shorewest Realtors, Inc.
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Investment Insights
Based on property information with market context.
This 3,030-square-foot duplex, built in 1916, includes 4 bedrooms and 2 additional closet-equipped bonus rooms, along with a full bathroom on the third floor. Interior features include refreshed kitchens with coffee bars, updated bathrooms, stainless steel appliances, solid-surface countertops, restored hardwood flooring, coffered dining room ceilings, and a walk-in pantry. Improvements include 2 new high-efficiency furnaces, a new garage, and replacement of most windows. The units have separate utilities.
The property is on Milwaukee’s East Side, steps from UWM and minutes from Lake Michigan. Neighborhood dining is also nearby.
The property is on Milwaukee’s East Side, steps from UWM and minutes from Lake Michigan. Neighborhood dining is also nearby.
Key Highlights
- 3,030‑square‑foot duplex built in 1916
- 4 bedrooms plus 2 closet‑equipped bonus rooms
- Third‑floor full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,479
Cap Rate
5.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$609,580
$609.6K
Cap Rate 7%
$435,414
$435.4K
Cap Rate 9%
$338,656
$338.7K
Market Conditions
NOI Build-Up for 3,030 SF
Gross rent
$45.5K $15.00/SF
− Vacancy
−$1.9K −$0.63/SF
EGI
$43.5K $14.37/SF
− OpEx
−$13.1K −$4.31/SF
NOI
$30.5K $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%
$609,580
Cap Rate 7%
$435,414
Cap Rate 9%
$338,656
Alternative Uses
Best Use
Multifamily LT 5
$435.4K
$381.0K – $508.0K
NOI $30,479 @ 7.0% cap · market cap 5.86%
Second Best
Apartment 5plus
$403.2K
$352.8K – $470.4K
NOI $28,221 @ 7.0% cap · market cap 5.43%
Theoretical Best
Office A
$728.1K
$637.1K – $849.5K
NOI $50,969 @ 7.0% cap · market cap 9.80%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
933
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 high-efficiency furnaces and separately metered utilities serve the two-unit property.
Where is this duplex located?
The property is located at 3006 N Murray AVENUE Unit 3008 Milwaukee, WI.
What is the asking price?
The asking price for this property is $520,000.
What are key features of this property?
This property features: 3,030‑square‑foot duplex built in 1916; 4 bedrooms plus 2 closet‑equipped bonus rooms; Third‑floor full bathroom
