Duplex with Off-Street
For Sale
$310,000
3642 E Armour Ave, Cudahy, WI 53110
Two-unit property with updated flooring, efficient furnaces, and flexible lower-unit occupancy options.
Property Size1,600 SF
Price / SF$193.75
Days on Market21
Property Features for 3642 E Armour Ave
General Information
Standard status
Active
Size
1,600 SF
Total Parking Spaces
3
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,239
Building Details
Buildings
1
Listing Agency:
Home Team Real Estate Group LLC
(414) 334-4163
Listed By:
Connie Magee · License #6056794
(414) 334-4163
Source:
Exprealty
Added: Jul 22
Changed: Aug 11
Last Checked: Aug 11 at 6:52AM
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 Home Team Real Estate Group LLC
Investment Insights
Based on property information with market context.
This 1,600-square-foot duplex includes a 3/3 configuration, built-in china cabinets in both units, and newer carpeting and kitchen flooring in the upper unit. Both residences have new high-efficiency furnaces. The upper unit has a long-term tenant, while the lower unit may be rented or occupied by the owner.
Located at 3642 E Armour Ave in Cudahy, Wisconsin, the property is approximately 15 minutes from downtown Milwaukee. Three off-street parking spaces are provided behind the duplex. The lower residence offers flexibility for an owner occupant or an additional tenant.
Located at 3642 E Armour Ave in Cudahy, Wisconsin, the property is approximately 15 minutes from downtown Milwaukee. Three off-street parking spaces are provided behind the duplex. The lower residence offers flexibility for an owner occupant or an additional tenant.
Key Highlights
- 3/3 duplex configuration
- 1,600 square feet of property size
- Upper unit has a long‑term tenant
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
$17,146
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
5.53%
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%
$342,920
$342.9K
Cap Rate 7%
$244,943
$244.9K
Cap Rate 9%
$190,511
$190.5K
Market Conditions
NOI Build-Up for 1,600 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
$25.9K $16.20/SF
− Vacancy
−$1.4K −$0.89/SF
EGI
$24.5K $15.31/SF
− OpEx
−$7.3K −$4.59/SF
NOI
$17.1K $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%
$342,920
Cap Rate 7%
$244,943
Cap Rate 9%
$190,511
Alternative Uses
Best Use
Multifamily LT 5
$244.9K
$214.3K – $285.8K
NOI $17,146 @ 7.0% cap · market cap 5.53%
Second Best
Apartment 5plus
$218.8K
$191.5K – $255.3K
NOI $15,317 @ 7.0% cap · market cap 4.94%
Theoretical Best
Office A
$379.4K
$332.0K – $442.7K
NOI $26,559 @ 7.0% cap · market cap 8.57%
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
393
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-unit property with updated flooring, efficient furnaces, and flexible lower-unit occupancy options.
Where is this duplex located?
The property is located at 3642 E Armour Ave Cudahy, WI.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: 3/3 duplex configuration; 1,600 square feet of property size; Upper unit has a long‑term tenant
