Remodeled Duplex with
For Sale
$345,000
3055 N Bremen St, Milwaukee, WI 53212
Two updated residences feature open layouts, modern kitchens, and separately metered gas and electric service.
Property Size1,584 SF
Price / SF$217.80
Days on Market32
Property Features for 3055 N Bremen St
General Information
Standard status
Active
Size
1,584 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Gross Income
$33,300
Utilities to Site
Yes
Multifamily Units
2
Building Details
Year Built
1912
Buildings
1
Listing Agency:
RE/MAX Service First
(262) 384-4552
Listed By:
Segal Goldman Realty Group* · License #7654594
Source:
Nikolicgroup
Added: Jul 31
Changed: Aug 30
Last Checked: Aug 25 at 5:15AM
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 RE/MAX Service First
Investment Insights
Based on property information with market context.
This Riverwest duplex includes two remodeled walk-up residences with open-concept interiors and attic space. Each unit has an updated kitchen with an island, new cabinetry, quartz countertops, a dishwasher, built-in microwave, and stainless steel appliances. The bathrooms have new tile finishes and vanities. A newer 2-car garage provides on-site parking, while separate gas and electric meters support distinct utility allocation between the units.
The property is located at 3055 N Bremen St in Milwaukee, Wisconsin. Water and sewer costs are handled through a RUBS pass-through arrangement. Built in 1912, the property combines updated unit interiors with dedicated garage parking and separately metered utilities.
The property is located at 3055 N Bremen St in Milwaukee, Wisconsin. Water and sewer costs are handled through a RUBS pass-through arrangement. Built in 1912, the property combines updated unit interiors with dedicated garage parking and separately metered utilities.
Key Highlights
- Two‑unit duplex with remodeled walk‑up interiors and attic space
- Each unit includes an island kitchen with quartz counters and stainless steel appliances
- New tile bathrooms with vanities in both units
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
$15,933
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
4.62%
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%
$318,660
$318.7K
Cap Rate 7%
$227,614
$227.6K
Cap Rate 9%
$177,033
$177.0K
Market Conditions
NOI Build-Up for 1,584 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
$23.8K $15.00/SF
− Vacancy
−$998 −$0.63/SF
EGI
$22.8K $14.37/SF
− OpEx
−$6.8K −$4.31/SF
NOI
$15.9K $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%
$318,660
Cap Rate 7%
$227,614
Cap Rate 9%
$177,033
Alternative Uses
Best Use
Multifamily LT 5
$227.6K
$199.2K – $265.6K
NOI $15,933 @ 7.0% cap · market cap 4.62%
Second Best
Apartment 5plus
$210.8K
$184.4K – $245.9K
NOI $14,753 @ 7.0% cap · market cap 4.28%
Theoretical Best
Office A
$380.6K
$333.1K – $444.1K
NOI $26,645 @ 7.0% cap · market cap 7.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
640
Businesses Nearby
Explore this area
Business Placement
Demographics for 53212, WI
28,702
Population
15,749
Households
1.8
Avg Household Size
32
Median Age
37%
College-Educated
91%
High-School Grad
4.1 sq mi
ZIP Area
7,000
Density / Sq Mi
$42,679
Median Household Income
$36,578
Median Earnings
$1,038
Median Rent
$204,300
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 updated residences feature open layouts, modern kitchens, and separately metered gas and electric service.
Where is this duplex located?
The property is located at 3055 N Bremen St Milwaukee, WI.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Two‑unit duplex with remodeled walk‑up interiors and attic space; Each unit includes an island kitchen with quartz counters and stainless steel appliances; New tile bathrooms with vanities in both units
