Character Duplex with
New
For Sale
$480,000
3932 N Maryland AVENUE 3934, Shorewood, WI 53211
A walk-up attic and three-car garage add useful space to this Shorewood duplex.
Property Size2,775 SF
Price / SF$172.97
Days on Market3
Property Features for 3932 N Maryland AVENUE 3934
General Information
Standard status
Active
Size
2,775 SF
Total Parking Spaces
3
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,061
Building Details
Building Size
2,775 SF
Year Built
1918
Listing Agency:
Keller Williams Milwaukee North Shore
Listed By:
William Lauer Group* · License #86953-94
(414) 702-5281
Source:
Prolificrealtygroup
Added: Oct 30
Changed: Oct 31
Last Checked: Oct 31 at 3:28AM
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 1918 duplex offers 2,775 square feet, with hardwood flooring, detailed millwork, leaded-glass built-ins, and hardwood-paneled walls. A walk-in pantry and many replacement windows are also among the property’s features. The walk-up attic presents potential for future finished living space, including two additional bedrooms. Alley access serves the three-car garage.
The property is in Shorewood near restaurants, Lake Michigan, Oakland Avenue shopping, Atwater Elementary, UWM, churches, the Shorewood library, Atwater Park, and the beach.
The property is in Shorewood near restaurants, Lake Michigan, Oakland Avenue shopping, Atwater Elementary, UWM, churches, the Shorewood library, Atwater Park, and the beach.
Key Highlights
- 2,775‑square‑foot duplex built in 1918
- Three‑car garage with alley access
- Walk‑up attic with potential for future finished space, including two additional bedrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,738
Cap Rate
6.20%
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 6.20%
Second Best
Apartment 5plus
$379.5K
$332.1K – $442.8K
NOI $26,565 @ 7.0% cap · market cap 5.53%
Theoretical Best
Office A
$658.1K
$575.8K – $767.7K
NOI $46,064 @ 7.0% cap · market cap 9.60%
Zoning and permitted uses should be independently verified with authorities.
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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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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - A walk-up attic and three-car garage add useful space to this Shorewood duplex.
Where is this duplex located?
The property is located at 3932 N Maryland AVENUE 3934 Shorewood, WI.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: 2,775‑square‑foot duplex built in 1918; Three‑car garage with alley access; Walk‑up attic with potential for future finished space, including two additional bedrooms
