Walk-Up Attic
For Sale
$265,000
3059 N Bremen St, Milwaukee, WI 53212
Two-unit property with parking, updated upper-level interiors, replacement windows, and recent mechanical improvements.
Property Size1,584 SF
Price / SF$167.30
Days on Market28
Property Features for 3059 N Bremen St
General Information
Standard status
Active
Size
1,584 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1909
Listing Agency:
Lake Country Flat Fee
(920) 893-3001
Listed By:
Avenue Real Estate · License #7654594
(920) 893-3001
Source:
Avenueret
Added: Aug 4
Changed: Aug 31
Last Checked: Aug 30 at 4:18PM
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 Lake Country Flat Fee
Investment Insights
Based on property information with market context.
This 2/2 duplex at 3059 N Bremen St features a walk-up attic, on-site parking, and improvements across both units. The lower apartment offers hardwood floors, a living room and dining room arrangement, and generously sized bedrooms. Upstairs, an open kitchen and living area is complemented by refinished hardwood floors, new cabinetry, quartz countertops, stainless steel appliances, a dishwasher, built-in microwave, and island.
Replacement windows are installed throughout the property. Additional updates include a newer furnace serving the lower unit, 2 newer water heaters, newer concrete walkways, and a parking slab. The property is professionally managed and located in Milwaukee’s Riverwest neighborhood. It may also be packaged with any of 6 other new listings from the same seller, including the neighboring property at 3055 N Bremen St.
Replacement windows are installed throughout the property. Additional updates include a newer furnace serving the lower unit, 2 newer water heaters, newer concrete walkways, and a parking slab. The property is professionally managed and located in Milwaukee’s Riverwest neighborhood. It may also be packaged with any of 6 other new listings from the same seller, including the neighboring property at 3055 N Bremen St.
Key Highlights
- 2/2 duplex with walk‑up attic and parking
- Upper unit remodeled with open kitchen/living area
- Quartz counters, stainless steel appliances, dishwasher, microwave, and island
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
6.01%
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 6.01%
Second Best
Apartment 5plus
$210.8K
$184.4K – $245.9K
NOI $14,753 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$380.6K
$333.1K – $444.1K
NOI $26,645 @ 7.0% cap · market cap 10.05%
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
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-unit property with parking, updated upper-level interiors, replacement windows, and recent mechanical improvements.
Where is this duplex located?
The property is located at 3059 N Bremen St Milwaukee, WI.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: 2/2 duplex with walk‑up attic and parking; Upper unit remodeled with open kitchen/living area; Quartz counters, stainless steel appliances, dishwasher, microwave, and island
