Duplex with Off-Street
For Sale
$224,900
Pending
3934-3936 N 61st St, Milwaukee, WI 53216
Two residential units offer functional kitchens, generous bedrooms, outdoor space, and convenient access to everyday amenities.
Property Size1,128 SF
Days on Market31
Property Features for 3934-3936 N 61st St
General Information
Standard status
Pending
Size
1,128 SF
Property subtype
Multi-Family
Building Details
Year Built
1956
Listing Agency:
Trelora Realty, Inc.
(720) 386-7609
Listed By:
Christopher Stjernholm · License #2024000468
Source:
Levelupwi
Added: Aug 2
Changed: Aug 31
Last Checked: Aug 31 at 6:27PM
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 Trelora Realty, Inc.
Investment Insights
Based on property information with market context.
Built in 1956, this duplex at 3934-3936 N 61st St comprises 1,128 SF and includes two residential units with practical floor plans. Each unit features comfortable living areas, spacious bedrooms, and a functional kitchen. Large windows bring natural light into the interiors, while outdoor space supports gardening, relaxation, or entertaining. Off-street parking is also available.
The property is situated in Milwaukee near schools, parks, shopping, dining, public transportation, and major commuter routes. Its two-unit configuration provides flexibility for an owner-occupant or a rental-income strategy, as supported by the existing residential layout.
The property is situated in Milwaukee near schools, parks, shopping, dining, public transportation, and major commuter routes. Its two-unit configuration provides flexibility for an owner-occupant or a rental-income strategy, as supported by the existing residential layout.
Key Highlights
- Two‑unit duplex configuration at 3934‑3936 N 61st St
- 1,128 SF property built in 1956
- Each unit includes living space, bedrooms, and a functional 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
$11,347
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
5.05%
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%
$226,940
$226.9K
Cap Rate 7%
$162,100
$162.1K
Cap Rate 9%
$126,078
$126.1K
Market Conditions
NOI Build-Up for 1,128 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
$16.9K $15.00/SF
− Vacancy
−$711 −$0.63/SF
EGI
$16.2K $14.37/SF
− OpEx
−$4.9K −$4.31/SF
NOI
$11.3K $10.06/SF
Area
Milwaukee, WI
Vacancy
4.20%
Lease Rate
$15.00 /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%
$226,940
Cap Rate 7%
$162,100
Cap Rate 9%
$126,078
Alternative Uses
Best Use
Multifamily LT 5
$162.1K
$141.8K – $189.1K
NOI $11,347 @ 7.0% cap · market cap 5.05%
Second Best
Apartment 5plus
$150.1K
$131.3K – $175.1K
NOI $10,506 @ 7.0% cap · market cap 4.67%
Theoretical Best
Office A
$271.1K
$237.2K – $316.3K
NOI $18,975 @ 7.0% cap · market cap 8.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
801
Businesses Nearby
Explore this area
Business Placement
Demographics for 53216, WI
30,109
Population
13,556
Households
2.2
Avg Household Size
36
Median Age
18%
College-Educated
85%
High-School Grad
4.6 sq mi
ZIP Area
6,545
Density / Sq Mi
$43,466
Median Household Income
$34,823
Median Earnings
$970
Median Rent
$122,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer functional kitchens, generous bedrooms, outdoor space, and convenient access to everyday amenities.
Where is this duplex located?
The property is located at 3934-3936 N 61st St Milwaukee, WI.
What is the asking price?
The asking price for this property is $224,900.
What are key features of this property?
This property features: Two‑unit duplex configuration at 3934‑3936 N 61st St; 1,128 SF property built in 1956; Each unit includes living space, bedrooms, and a functional kitchen
