Two-Unit
For Sale
$259,900
3473 E Armour Ave, Cudahy, WI 53110
Two residences offer matching two-bedroom layouts with full bathrooms, living areas, and kitchens.
Property Size1,472 SF
Price / SF$176.56
Days on Market15
Property Features for 3473 E Armour Ave
General Information
Standard status
Active
Size
1,472 SF
Property subtype
Multi-Family
Building Details
Year Built
1904
Listing Agency:
Keller Williams Realty-Milwaukee Southwest
(262) 443-0030
Listed By:
Realty Executives Southeast
(262) 443-0030
Source:
Therealestatestudiowi
Added: Aug 16
Changed: Aug 29
Last Checked: Aug 26 at 12:59PM
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 Keller Williams Realty-Milwaukee Southwest
Investment Insights
Based on property information with market context.
This duplex contains two separate residences, each arranged with 2 bedrooms, 1 full bathroom, a living area, and a kitchen. The combined property size is listed as 1,472 square feet, and the building dates to 1904. The property is located at 3473 E Armour Ave in Cudahy, Wisconsin.
Key Highlights
- Two‑unit duplex configuration
- Each unit includes 2 bedrooms and 1 full bathroom
- Both residences feature a living area and kitchen
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
$15,774
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
6.07%
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%
$315,480
$315.5K
Cap Rate 7%
$225,343
$225.3K
Cap Rate 9%
$175,267
$175.3K
Market Conditions
NOI Build-Up for 1,472 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 $16.20/SF
− Vacancy
−$1.3K −$0.89/SF
EGI
$22.5K $15.31/SF
− OpEx
−$6.8K −$4.59/SF
NOI
$15.8K $10.72/SF
Area
Milwaukee County, WI
Vacancy
5.50%
Lease Rate
$16.20 /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%
$315,480
Cap Rate 7%
$225,343
Cap Rate 9%
$175,267
Alternative Uses
Best Use
Multifamily LT 5
$225.3K
$197.2K – $262.9K
NOI $15,774 @ 7.0% cap · market cap 6.07%
Second Best
Apartment 5plus
$201.3K
$176.1K – $234.9K
NOI $14,091 @ 7.0% cap · market cap 5.42%
Theoretical Best
Office A
$349.1K
$305.4K – $407.3K
NOI $24,435 @ 7.0% cap · market cap 9.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
491
Businesses Nearby
Explore this area
Business Placement
Demographics for 53110, WI
18,204
Population
8,866
Households
2.1
Avg Household Size
41
Median Age
27%
College-Educated
93%
High-School Grad
4.8 sq mi
ZIP Area
3,793
Density / Sq Mi
$66,717
Median Household Income
$46,920
Median Earnings
$977
Median Rent
$201,000
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 - Two residences offer matching two-bedroom layouts with full bathrooms, living areas, and kitchens.
Where is this duplex located?
The property is located at 3473 E Armour Ave Cudahy, WI.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: Two‑unit duplex configuration; Each unit includes 2 bedrooms and 1 full bathroom; Both residences feature a living area and kitchen
