Updated Duplex with Detached
New
For Sale
$424,900
3248 S Delaware Ave, Milwaukee, WI 53207
Separate upper and lower residences provide a two-unit configuration with a versatile office in the lower unit.
Property Size1,612 SF
Price / SF$263.59
Days on Market5
Property Features for 3248 S Delaware Ave
General Information
Standard status
Active
Size
1,612 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
backyard
deck
Building Details
Year Built
1915
Buildings
1
Listing Agency:
Coldwell Banker Realty
Listed By:
Realty Executives Southeast
(262) 443-0030
Source:
Therealestatestudiowi
Added: Oct 1
Changed: Oct 4
Last Checked: Oct 5 at 5:57PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
Built in 1915, this 1,612-square-foot duplex has separate upper and lower residences. The lower unit features maple hardwood floors, newer windows, a kitchen with tile flooring, and an office that could serve as a third bedroom. The upper unit has hardwood floors, newer windows, and two bedrooms, each with a walk-in closet.
Outdoor and parking features include a backyard deck, a detached two-car garage, and additional parking at the front and rear of the property. The roof is approximately five years old. The property is located at 3248 S Delaware Ave in Milwaukee.
Outdoor and parking features include a backyard deck, a detached two-car garage, and additional parking at the front and rear of the property. The roof is approximately five years old. The property is located at 3248 S Delaware Ave in Milwaukee.
Key Highlights
- 1,612‑square‑foot duplex built in 1915
- Lower residence includes an office with potential for a third bedroom
- Upper unit has two bedrooms, each with a walk‑in closet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,215
Cap Rate
3.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$324,300
$324.3K
Cap Rate 7%
$231,643
$231.6K
Cap Rate 9%
$180,167
$180.2K
Market Conditions
NOI Build-Up for 1,612 SF
Gross rent
$24.2K $15.00/SF
− Vacancy
−$1.0K −$0.63/SF
EGI
$23.2K $14.37/SF
− OpEx
−$6.9K −$4.31/SF
NOI
$16.2K $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 Rate 5%
$324,300
Cap Rate 7%
$231,643
Cap Rate 9%
$180,167
Alternative Uses
Best Use
Multifamily LT 5
$231.6K
$202.7K – $270.3K
NOI $16,215 @ 7.0% cap · market cap 3.82%
Second Best
Apartment 5plus
$214.5K
$187.7K – $250.2K
NOI $15,014 @ 7.0% cap · market cap 3.53%
Theoretical Best
Office A
$387.4K
$339.0K – $451.9K
NOI $27,116 @ 7.0% cap · market cap 6.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
378
Businesses Nearby
Explore this area
Business Placement
Demographics for 53207, WI
34,292
Population
17,278
Households
2
Avg Household Size
37
Median Age
45%
College-Educated
94%
High-School Grad
10.0 sq mi
ZIP Area
3,429
Density / Sq Mi
$79,576
Median Household Income
$53,886
Median Earnings
$1,145
Median Rent
$228,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Separate upper and lower residences provide a two-unit configuration with a versatile office in the lower unit.
Where is this duplex located?
The property is located at 3248 S Delaware Ave Milwaukee, WI.
What is the asking price?
The asking price for this property is $424,900.
What are key features of this property?
This property features: 1,612‑square‑foot duplex built in 1915; Lower residence includes an office with potential for a third bedroom; Upper unit has two bedrooms, each with a walk‑in closet
