Duplex with Adjacent
New
For Sale
$219,900
3020 S 8th St, Milwaukee, WI 53215
Two one-bedroom apartments have separate rear access, with additional parking on the included neighboring parcel.
Property Size1,186 SF
Price / SF$185.41
Days on Market2
Property Features for 3020 S 8th St
General Information
Standard status
Active
Size
1,186 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1890
Buildings
1
Listing Agency:
Homewire Realty
Listed By:
Avenue Real Estate
(920) 893-3001
Source:
Avenueret
Added: Oct 16
Last Checked: Oct 16 at 6:29AM
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 Homewire Realty
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Investment Insights
Based on property information with market context.
This duplex contains two one-bedroom, one-bathroom apartments, each with private access at the rear. The building dates to 1890 and is offered in as-is condition. FHA and VA financing are not suitable for this sale.
An adjoining vacant lot is included. Its parking pad, accessed from 8th Street, provides additional parking. The property is on Milwaukee’s south side with access to the interstate.
The two parcels also include garage structures; one is in poor condition and may no longer be usable. The duplex contains 1,186 square feet.
An adjoining vacant lot is included. Its parking pad, accessed from 8th Street, provides additional parking. The property is on Milwaukee’s south side with access to the interstate.
The two parcels also include garage structures; one is in poor condition and may no longer be usable. The duplex contains 1,186 square feet.
Key Highlights
- Two units, each with 1 bedroom and 1 bathroom
- 1,186‑square‑foot duplex built in 1890
- Sale includes the adjoining vacant lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,795
Cap Rate
6.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$275,900
$275.9K
Cap Rate 7%
$197,071
$197.1K
Cap Rate 9%
$153,278
$153.3K
Market Conditions
NOI Build-Up for 1,186 SF
Gross rent
$20.6K $17.40/SF
− Vacancy
−$929 −$0.78/SF
EGI
$19.7K $16.62/SF
− OpEx
−$5.9K −$4.99/SF
NOI
$13.8K $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%
$275,900
Cap Rate 7%
$197,071
Cap Rate 9%
$153,278
Alternative Uses
Best Use
Multifamily LT 5
$197.1K
$172.4K – $229.9K
NOI $13,795 @ 7.0% cap · market cap 6.27%
Second Best
Apartment 5plus
$176.8K
$154.7K – $206.2K
NOI $12,373 @ 7.0% cap · market cap 5.63%
Theoretical Best
Warehouse
$899.0K
$786.6K – $1.05M
NOI $62,929 @ 7.0% cap · market cap 28.62%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
611
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two one-bedroom apartments have separate rear access, with additional parking on the included neighboring parcel.
Where is this duplex located?
The property is located at 3020 S 8th St Milwaukee, WI.
What is the asking price?
The asking price for this property is $219,900.
What are key features of this property?
This property features: Two units, each with 1 bedroom and 1 bathroom; 1,186‑square‑foot duplex built in 1890; Sale includes the adjoining vacant lot
