Duplex With Rear Studio
New
For Sale
$349,900
3253 S 8th St, Milwaukee, WI 53215
Two-unit property with a rear cottage currently rented as a studio, providing multiple residential rental spaces.
Property Size1,739 SF
Price / SF$201.21
Days on Market4
Property Features for 3253 S 8th St
General Information
Standard status
Active
Size
1,739 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Building Details
Year Built
1910
Buildings
2
Listing Agency:
Porch Light Property Management & Real Estate
Listed By:
Realty Executives Southeast
(262) 443-0030
Source:
Therealestatestudiowi
Added: Sep 15
Changed: Sep 17
Last Checked: Sep 18 at 6:46AM
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 Porch Light Property Management & Real Estate
Investment Insights
Based on property information with market context.
This 1,739-square-foot duplex was built in 1910 and includes a cottage at the rear of the property. The cottage is currently rented as a studio, adding a separate residential rental space to the main duplex configuration.
The property is located at 3253 S 8th St in Milwaukee, Wisconsin, within ZIP code 53215. Its layout combines the primary duplex with an additional cottage, supporting multiple residential rental arrangements at one property.
The property is located at 3253 S 8th St in Milwaukee, Wisconsin, within ZIP code 53215. Its layout combines the primary duplex with an additional cottage, supporting multiple residential rental arrangements at one property.
Key Highlights
- Duplex configuration with a rear cottage
- Rear cottage is currently rented as a studio
- 1,739 square feet of property size
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
$20,228
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
5.78%
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%
$404,560
$404.6K
Cap Rate 7%
$288,971
$289.0K
Cap Rate 9%
$224,756
$224.8K
Market Conditions
NOI Build-Up for 1,739 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
$30.3K $17.40/SF
− Vacancy
−$1.4K −$0.78/SF
EGI
$28.9K $16.62/SF
− OpEx
−$8.7K −$4.99/SF
NOI
$20.2K $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 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%
$404,560
Cap Rate 7%
$288,971
Cap Rate 9%
$224,756
Alternative Uses
Best Use
Multifamily LT 5
$289.0K
$252.9K – $337.1K
NOI $20,228 @ 7.0% cap · market cap 5.78%
Second Best
Apartment 5plus
$259.2K
$226.8K – $302.4K
NOI $18,142 @ 7.0% cap · market cap 5.18%
Theoretical Best
Warehouse
$1.32M
$1.15M – $1.54M
NOI $92,272 @ 7.0% cap · market cap 26.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
546
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with a rear cottage currently rented as a studio, providing multiple residential rental spaces.
Where is this duplex located?
The property is located at 3253 S 8th St Milwaukee, WI.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Duplex configuration with a rear cottage; Rear cottage is currently rented as a studio; 1,739 square feet of property size
