Brick Duplex with
New
For Sale
$305,000
3049 S 45th Street, Milwaukee, WI 53219
Two separate apartments include appliances, central air, and in-unit laundry equipment.
Property Size2,008 SF
Price / SF$151.89
Days on Market6
Property Features for 3049 S 45th Street
General Information
Standard status
Active
Size
2,008 SF
Property subtype
Multi Family Home
Zoning
RS6
Site & Location
Neighborhood
Jackson Park
Units
Unit Mix
1 x 2BR, 1 x 1BR
Multifamily Units
2
Amenities
stone patio
shed
central air
washer/dryer
Building Details
Building Size
2,008 SF
Year Built
1930
Buildings
1
Construction
brick
Listing Agency:
Shorewest Realtors - South Metro
(414) 423-1500
Listed By:
Ippoliti Property Group* · License #7611594
(414) 419-4797
Source:
Coactionrealestate
Added: Oct 19
Changed: Oct 23
Last Checked: Oct 23 at 5:03PM
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 - South Metro
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Investment Insights
Based on property information with market context.
This 1930 brick duplex contains 2,008 square feet across two apartments: a two-bedroom main-floor unit and a one-bedroom upper unit. Both are ready for occupancy and include appliances, central air, and a washer and dryer. Interior details include natural woodwork and built-ins; updates include vinyl windows, newer circuit panels, a 2024 dimensional roof serving the house and garage, and a 2025 water heater. The property is zoned RS6.
Outdoor features include a stone patio, shed, and a 1.5-car garage with an electric door opener and newer concrete floor, plus an adjacent parking pad.
Outdoor features include a stone patio, shed, and a 1.5-car garage with an electric door opener and newer concrete floor, plus an adjacent parking pad.
Key Highlights
- Two apartments: two bedrooms on the main floor and one bedroom upstairs
- 2,008 square feet; built in 1930
- 2024 dimensional roof on the house and garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,135
Cap Rate
6.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$402,700
$402.7K
Cap Rate 7%
$287,643
$287.6K
Cap Rate 9%
$223,722
$223.7K
Market Conditions
NOI Build-Up for 2,008 SF
Gross rent
$30.1K $15.00/SF
− Vacancy
−$1.4K −$0.68/SF
EGI
$28.8K $14.33/SF
− OpEx
−$8.6K −$4.30/SF
NOI
$20.1K $10.03/SF
Area
ZIP 53219
Vacancy
4.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$402,700
Cap Rate 7%
$287,643
Cap Rate 9%
$223,722
Alternative Uses
Best Use
Multifamily LT 5
$287.6K
$251.7K – $335.6K
NOI $20,135 @ 7.0% cap · market cap 6.60%
Second Best
Apartment 5plus
$257.6K
$225.4K – $300.5K
NOI $18,029 @ 7.0% cap · market cap 5.91%
Theoretical Best
Office A
$482.5K
$422.2K – $563.0K
NOI $33,778 @ 7.0% cap · market cap 11.07%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
372
Businesses Nearby
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Business Placement
Demographics for 53219, WI
34,925
Population
15,661
Households
2.2
Avg Household Size
38
Median Age
26%
College-Educated
90%
High-School Grad
5.0 sq mi
ZIP Area
6,985
Density / Sq Mi
$70,998
Median Household Income
$43,223
Median Earnings
$971
Median Rent
$190,300
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 separate apartments include appliances, central air, and in-unit laundry equipment.
Where is this duplex located?
The property is located at 3049 S 45th Street Milwaukee, WI.
What is the asking price?
The asking price for this property is $305,000.
What are key features of this property?
This property features: Two apartments: two bedrooms on the main floor and one bedroom upstairs; 2,008 square feet; built in 1930; 2024 dimensional roof on the house and garage
