Side-by-Side Townhouse
For Sale
$549,800
4041 N Bartlett Ave, Shorewood, WI 53211
Two attached residences have independent utilities and separate basement space.
Property Size2,566 SF
Price / SF$214.26
Days on Market20
Property Features for 4041 N Bartlett Ave
General Information
Standard status
Active
Size
2,566 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,898
Amenities
hardwood floors
crown molding
built-in china cabinets
Building Details
Buildings
1
Listing Agency:
Keller Williams Milwaukee North Shore
(414) 962-3605
Listed By:
Judy Moffatt · License #9436494
(262) 994-9198
Source:
Exprealty
Added: Sep 8
Changed: Sep 25
Last Checked: Sep 26 at 11:11AM
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
Investment Insights
Based on property information with market context.
This 2,566-square-foot duplex is arranged as two side-by-side townhouse units and is described as a 3-bedroom property. Both units have hardwood floors, crown molding, built-in china cabinets, and separate basements with half-baths. Utility service is independent for each side.
The North unit has updated paint and lighting, along with a refreshed eat-in kitchen. The South unit receives natural light in each room. The roof was replaced in 2020, and the boilers were updated in 2014. The property is located in Shorewood, Wisconsin.
The North unit has updated paint and lighting, along with a refreshed eat-in kitchen. The South unit receives natural light in each room. The roof was replaced in 2020, and the boilers were updated in 2014. The property is located in Shorewood, Wisconsin.
Key Highlights
- 2,566‑square‑foot side‑by‑side townhouse duplex
- Described as a 3‑bedroom property
- Independent utility service for each unit
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
$27,498
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
5.00%
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%
$549,960
$550.0K
Cap Rate 7%
$392,829
$392.8K
Cap Rate 9%
$305,533
$305.5K
Market Conditions
NOI Build-Up for 2,566 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
$41.6K $16.20/SF
− Vacancy
−$2.3K −$0.89/SF
EGI
$39.3K $15.31/SF
− OpEx
−$11.8K −$4.59/SF
NOI
$27.5K $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%
$549,960
Cap Rate 7%
$392,829
Cap Rate 9%
$305,533
Alternative Uses
Best Use
Multifamily LT 5
$392.8K
$343.7K – $458.3K
NOI $27,498 @ 7.0% cap · market cap 5.00%
Second Best
Apartment 5plus
$350.9K
$307.1K – $409.4K
NOI $24,564 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$608.5K
$532.4K – $709.9K
NOI $42,594 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,072
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two attached residences have independent utilities and separate basement space.
Where is this duplex located?
The property is located at 4041 N Bartlett Ave Shorewood, WI.
What is the asking price?
The asking price for this property is $549,800.
What are key features of this property?
This property features: 2,566‑square‑foot side‑by‑side townhouse duplex; Described as a 3‑bedroom property; Independent utility service for each unit
