Duplex with Finished Recreation
For Sale
$495,000
3007 S Superior St, Milwaukee, WI 53207
Two-unit property near Lake Michigan with updated kitchens, baths, windows, and separate electric services.
Property Size2,131 SF
Price / SF$232.29
Days on Market16
Property Features for 3007 S Superior St
General Information
Standard status
Active
Size
2,131 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
front porch
back deck
laundry room
finished rec room
hardwood floors
updated windows
eat-in kitchens
updated cabinetry
updated baths
Building Details
Year Built
1912
Buildings
1
Listing Agency:
Berkshire Hathaway Homeservices Metro Realty
(920) 893-3001
Listed By:
Avenue Real Estate
(920) 893-3001
Source:
Avenueret
Added: Aug 15
Changed: Aug 28
Last Checked: Aug 29 at 9:08AM
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 Berkshire Hathaway Homeservices Metro Realty
Investment Insights
Based on property information with market context.
Built in 1912, this 2,131 SF duplex at 3007 S Superior St includes two residential units with hardwood flooring, eat-in kitchens, islands, updated cabinetry, and ceramic-tile bathrooms. The upper unit adds an oversized primary bedroom, a large walk-in pantry, basement laundry, and private use of a finished recreation room with a half bath. The lower unit has a dedicated laundry room.
Exterior features include a front porch, rear deck, and low-maintenance siding. The property has two electric services, one boiler, updated windows, and water heaters installed in 2018. The roof is reported to be less than 5 years old. Its Bay View setting places the duplex near Lake Michigan and supports either owner occupancy or an income-property strategy.
Exterior features include a front porch, rear deck, and low-maintenance siding. The property has two electric services, one boiler, updated windows, and water heaters installed in 2018. The roof is reported to be less than 5 years old. Its Bay View setting places the duplex near Lake Michigan and supports either owner occupancy or an income-property strategy.
Key Highlights
- Duplex contains two residential units totaling 2,131 SF
- Located at 3007 S Superior St near Lake Michigan in Bay View
- Finished upper‑level recreation room includes a half bath
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
$21,436
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
4.33%
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%
$428,720
$428.7K
Cap Rate 7%
$306,229
$306.2K
Cap Rate 9%
$238,178
$238.2K
Market Conditions
NOI Build-Up for 2,131 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
$32.0K $15.00/SF
− Vacancy
−$1.3K −$0.63/SF
EGI
$30.6K $14.37/SF
− OpEx
−$9.2K −$4.31/SF
NOI
$21.4K $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%
$428,720
Cap Rate 7%
$306,229
Cap Rate 9%
$238,178
Alternative Uses
Best Use
Multifamily LT 5
$306.2K
$268.0K – $357.3K
NOI $21,436 @ 7.0% cap · market cap 4.33%
Second Best
Apartment 5plus
$283.5K
$248.1K – $330.8K
NOI $19,848 @ 7.0% cap · market cap 4.01%
Theoretical Best
Office A
$512.1K
$448.1K – $597.5K
NOI $35,847 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
332
Businesses Nearby
Explore this area
Business Placement
Demographics for 53207, WI
34,292
Population
17,278
Households
2
Avg Household Size
37
Median Age
45%
College-Educated
94%
High-School Grad
10.0 sq mi
ZIP Area
3,429
Density / Sq Mi
$79,576
Median Household Income
$53,886
Median Earnings
$1,145
Median Rent
$228,500
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?
Duplex - Two-unit property near Lake Michigan with updated kitchens, baths, windows, and separate electric services.
Where is this duplex located?
The property is located at 3007 S Superior St Milwaukee, WI.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Duplex contains two residential units totaling 2,131 SF; Located at 3007 S Superior St near Lake Michigan in Bay View; Finished upper‑level recreation room includes a half bath
