All-Brick Duplex with Off-Street
3371 South 16th Street Milwaukee, WI 53215
3371 South 16th Street, Milwaukee, WI, 53215
$389,900
Pending
For Sale
$389,900
Pending
Solid brick duplex offers off-street parking for four cars and a finished basement with additional bedrooms and a full bath.
Property Size2,336 SF
Days on Market32
Property Features for 3371 South 16th Street
General Information
- Standard status
- Pending
- Size
- 2,336 SF
- Property subtype
- Two-Family / Two Family
Building Details
- Year Built
- 1957
Listing agency
Homestead Realty, Inc
(414) 517-0896
Listed by
Van Hnun · License #97308-94
(414) 517-0896
Source
Compass
Added: Jun 21 Updated: Jul 21 at 10:13AM Checked: Jul 22 at 7:48AM
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 Homestead Realty, Inc
Investment Insights
Based on property information with market context.
This solid brick duplex is set up as a whole building with two units. The upper unit includes multiple bedrooms and a full bathroom. The seller has updated the basement, which is fully finished and provides two additional bedrooms and a full bath.
The property is described as being situated for easy access to shopping, schools, and a hospital. Off-street parking is available for up to four cars.
As presented, the layout supports either owner-occupancy with rental income or renting both units, with finished space that includes bedrooms and full-bath accommodations beyond the upper level.
The property is described as being situated for easy access to shopping, schools, and a hospital. Off-street parking is available for up to four cars.
As presented, the layout supports either owner-occupancy with rental income or renting both units, with finished space that includes bedrooms and full-bath accommodations beyond the upper level.
Key Highlights
- Solid brick duplex built in 1957 with an estimated total living area of 2,336 SF
- Unit mix: 2‑bedroom unit with 2 full baths (U1) and 3‑bedroom unit with 1 full bath (U2)
- Finished full basement includes a full bath and extra two bedrooms
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $40.6k | $17.40 |
| − Vacancy | −$1.8k | −$0.78 |
| EGI | $38.8k | $16.62 |
| − OpEx | −$11.6k | −$4.99 |
| NOI | $27.2k | $11.63 |
2,336 SF · lease $17.40/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$388.2K
$339.7K – $452.9K
NOI $27,172 @ 7.0% cap · market cap 6.97%
Second Best
Apartment 5plus
$348.2K
$304.6K – $406.2K
NOI $24,371 @ 7.0% cap · market cap 6.25%
Theoretical Best
Warehouse
$1.77M
$1.55M – $2.07M
NOI $123,948 @ 7.0% cap · market cap 31.79%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Solid brick duplex offers off-street parking for four cars and a finished basement with additional bedrooms and a full bath.
Where is this duplex located?
The property is located at 3371 South 16th Street Milwaukee, WI.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: Solid brick duplex built in 1957 with an estimated total living area of 2,336 SF; Unit mix: 2‑bedroom unit with 2 full baths (U1) and 3‑bedroom unit with 1 full bath (U2); Finished full basement includes a full bath and extra two bedrooms
