Character Duplex with 3-Car
For Sale
$500,000
3932 N Maryland Ave, Shorewood, WI 53211
Built in 1918, the property retains hardwood floors, detailed millwork, and leaded-glass built-ins.
Property Size2,775 SF
Price / SF$180.18
Days on Market81
Property Features for 3932 N Maryland Ave
General Information
Standard status
Active
Size
2,775 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1918
Listing Agency:
Keller Williams Milwaukee North Shore
Listed By:
William Lauer Group* · License #86953-94
(414) 962-3605
Source:
Nikolicgroup
Added: Aug 1
Changed: Oct 3
Last Checked: Oct 7 at 1:47PM
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 Milwaukee North Shore
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Investment Insights
Based on property information with market context.
This Shorewood duplex, built in 1918, combines a two-unit layout with original architectural details. Interior features include hardwood flooring, substantial millwork, leaded-glass built-ins, hardwood-paneled walls, and many replacement windows. A walk-up attic provides additional storage and potential for future finished space, including two additional bedrooms. The property also includes a three-car garage reached by alley access.
The duplex is located at 3932 N Maryland Ave Unit 3934 near restaurants, Lake Michigan, Oakland Ave shopping, Atwater Elementary, UWM, churches, the Shorewood library, Atwater Park, and the beach.
The duplex is located at 3932 N Maryland Ave Unit 3934 near restaurants, Lake Michigan, Oakland Ave shopping, Atwater Elementary, UWM, churches, the Shorewood library, Atwater Park, and the beach.
Key Highlights
- Two‑unit duplex constructed in 1918
- Original hardwood floors, millwork, paneled walls, and leaded‑glass built‑ins
- Many replacement windows throughout the property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,738
Cap Rate
5.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$594,760
$594.8K
Cap Rate 7%
$424,829
$424.8K
Cap Rate 9%
$330,422
$330.4K
Market Conditions
NOI Build-Up for 2,775 SF
Gross rent
$45.0K $16.20/SF
− Vacancy
−$2.5K −$0.89/SF
EGI
$42.5K $15.31/SF
− OpEx
−$12.7K −$4.59/SF
NOI
$29.7K $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 Rate 5%
$594,760
Cap Rate 7%
$424,829
Cap Rate 9%
$330,422
Alternative Uses
Best Use
Multifamily LT 5
$424.8K
$371.7K – $495.6K
NOI $29,738 @ 7.0% cap · market cap 5.95%
Second Best
Apartment 5plus
$379.5K
$332.1K – $442.8K
NOI $26,565 @ 7.0% cap · market cap 5.31%
Theoretical Best
Office A
$658.1K
$575.8K – $767.7K
NOI $46,064 @ 7.0% cap · market cap 9.21%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
854
Businesses Nearby
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Business Placement
Demographics for 53211, WI
36,327
Population
16,346
Households
2.2
Avg Household Size
29
Median Age
74%
College-Educated
98%
High-School Grad
4.0 sq mi
ZIP Area
9,082
Density / Sq Mi
$76,206
Median Household Income
$40,214
Median Earnings
$1,225
Median Rent
$413,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Built in 1918, the property retains hardwood floors, detailed millwork, and leaded-glass built-ins.
Where is this duplex located?
The property is located at 3932 N Maryland Ave Shorewood, WI.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Two‑unit duplex constructed in 1918; Original hardwood floors, millwork, paneled walls, and leaded‑glass built‑ins; Many replacement windows throughout the property
