Brick Duplex with
For Sale
$579,000
4155 N Farwell Ave, Shorewood, WI 53211
Two-unit brick residence with period detailing, multiple gathering spaces, and a detached three-vehicle garage.
Property Size3,182 SF
Price / SF$181.96
Days on Market15
Property Features for 4155 N Farwell Ave
General Information
Standard status
Active
Size
3,182 SF
Total Parking Spaces
3
Property subtype
Residential Income
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$11,116
Amenities
formal dining rooms
sun rooms
archways
fireplaces
hardwood floors
Building Details
Construction
brick
Listing Agency:
Milwaukee Executive Realty, LLC
(414) 704-7103
Listed By:
Carole Wehner · License #4413290
(414) 704-7103
Source:
Exprealty
Added: Jul 28
Changed: Aug 10
Last Checked: Aug 10 at 9:25AM
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 Milwaukee Executive Realty, LLC
Investment Insights
Based on property information with market context.
This 3,182-square-foot duplex in Shorewood dates to the 1920s and retains substantial period character. Brick construction is complemented by hardwood flooring, interior archways, fireplaces, sunrooms, and dedicated dining rooms in the units. A three-car garage provides additional on-site parking and storage.
The property is located at 4155 N Farwell Ave, within walking distance of Atwater Beach, playgrounds, tennis courts, cafés, and additional neighborhood amenities. The sewer connection has been replaced and lined through to the main, addressing a significant property-system improvement.
The property is located at 4155 N Farwell Ave, within walking distance of Atwater Beach, playgrounds, tennis courts, cafés, and additional neighborhood amenities. The sewer connection has been replaced and lined through to the main, addressing a significant property-system improvement.
Key Highlights
- 3,182‑square‑foot duplex built in the 1920s
- Brick construction with hardwood floors, archways, fireplaces, and sunrooms
- Formal dining rooms and multiple gathering areas
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
$34,099
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
5.89%
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%
$681,980
$682.0K
Cap Rate 7%
$487,129
$487.1K
Cap Rate 9%
$378,878
$378.9K
Market Conditions
NOI Build-Up for 3,182 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
$51.5K $16.20/SF
− Vacancy
−$2.8K −$0.89/SF
EGI
$48.7K $15.31/SF
− OpEx
−$14.6K −$4.59/SF
NOI
$34.1K $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%
$681,980
Cap Rate 7%
$487,129
Cap Rate 9%
$378,878
Alternative Uses
Best Use
Multifamily LT 5
$487.1K
$426.2K – $568.3K
NOI $34,099 @ 7.0% cap · market cap 5.89%
Second Best
Apartment 5plus
$435.2K
$380.8K – $507.7K
NOI $30,461 @ 7.0% cap · market cap 5.26%
Theoretical Best
Office A
$754.6K
$660.3K – $880.3K
NOI $52,820 @ 7.0% cap · market cap 9.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
809
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
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-unit brick residence with period detailing, multiple gathering spaces, and a detached three-vehicle garage.
Where is this duplex located?
The property is located at 4155 N Farwell Ave Shorewood, WI.
What is the asking price?
The asking price for this property is $579,000.
What are key features of this property?
This property features: 3,182‑square‑foot duplex built in the 1920s; Brick construction with hardwood floors, archways, fireplaces, and sunrooms; Formal dining rooms and multiple gathering areas
