Two-Unit Duplex with
For Sale
$250,000
3017 South 6th Street Unit 3019, Milwaukee, WI 53215
Separate residences include shared laundry, a fenced backyard, and dedicated garage parking.
Property Size1,748 SF
Price / SF$143.02
Days on Market75
Property Features for 3017 South 6th Street Unit 3019
General Information
Standard status
Active
Size
1,748 SF
Property subtype
Two-Family / Two Family
Taxes and HOA fees
Annual Taxes
$4,758
Amenities
Full
Brick
2.0
1.0
0.0
4.0
1748.0
Building Details
Year Built
1930
Listing Agency:
Keller Williams - Lake Country BT
(262) 408-8923
Listed By:
Rebecca J Thomas · License #60384-90
(262) 408-8923
Source:
Compass
Added: Jun 17
Changed: Aug 29
Last Checked: Aug 29 at 5:46PM
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 Keller Williams - Lake Country BT
Investment Insights
Based on property information with market context.
Built in 1930, this duplex contains two separate 2-bedroom, 1-bath units within 1748 square feet. The property also includes a dry basement with a washer and dryer, along with a fully fenced backyard. A detached 2-car garage provides parking and storage.
The property is located at 3017 South 6th Street, Unit 3019, in Milwaukee, WI 53215, with I-94 just minutes away. Its two-unit configuration combines separate residences with existing laundry, garage, and outdoor improvements. The physical layout and included features support the property's established duplex format.
The property is located at 3017 South 6th Street, Unit 3019, in Milwaukee, WI 53215, with I-94 just minutes away. Its two-unit configuration combines separate residences with existing laundry, garage, and outdoor improvements. The physical layout and included features support the property's established duplex format.
Key Highlights
- Two 2‑bedroom, 1‑bath units
- 1748 square feet of total property size
- Built in 1930
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
$20,333
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
8.13%
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%
$406,660
$406.7K
Cap Rate 7%
$290,471
$290.5K
Cap Rate 9%
$225,922
$225.9K
Market Conditions
NOI Build-Up for 1,748 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
$30.4K $17.40/SF
− Vacancy
−$1.4K −$0.78/SF
EGI
$29.0K $16.62/SF
− OpEx
−$8.7K −$4.99/SF
NOI
$20.3K $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 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%
$406,660
Cap Rate 7%
$290,471
Cap Rate 9%
$225,922
Alternative Uses
Best Use
Multifamily LT 5
$290.5K
$254.2K – $338.9K
NOI $20,333 @ 7.0% cap · market cap 8.13%
Second Best
Apartment 5plus
$260.5K
$228.0K – $303.9K
NOI $18,236 @ 7.0% cap · market cap 7.29%
Theoretical Best
Warehouse
$1.32M
$1.16M – $1.55M
NOI $92,749 @ 7.0% cap · market cap 37.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
767
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
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 - Separate residences include shared laundry, a fenced backyard, and dedicated garage parking.
Where is this duplex located?
The property is located at 3017 South 6th Street Unit 3019 Milwaukee, WI.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units; 1748 square feet of total property size; Built in 1930
