Duplex with Fenced
For Sale
$309,900
Pending
418 S 66th St, Milwaukee, WI 53214
Two-unit property with refreshed interiors, separate living spaces, and a fenced outdoor area near major Milwaukee destinations.
Property Size1,630 SF
Days on Market47
Property Features for 418 S 66th St
General Information
Standard status
Pending
Size
1,630 SF
Elevators
No
Property subtype
Residential Income
Site & Location
Highway Access
No
Road Access
No
Public Transit
No
Utilities to Site
No
Additional Details
Furnished
No
Opportunity Zone
No
Sprinkler System
No
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,617
Building Details
Buildings
1
Abandoned
No
Listing Agency:
Abundance Real Estate
(414) 333-4760
Listed By:
Kevin Rigg · License #5675394
(414) 333-4760
Source:
Exprealty
Added: Jun 26
Changed: Aug 9
Last Checked: Aug 10 at 7:44AM
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 Abundance Real Estate
Investment Insights
Based on property information with market context.
This 1,630 SF duplex includes an upper and lower residence, a detached garage, and a large fenced yard. Exterior improvements include fresh paint on the home and garage. The lower unit features LVP flooring, an eat-in kitchen, and an updated bathroom. Upstairs, the layout includes a spacious living room with hardwood floors, an updated kitchen with new flooring, and two bedrooms.
The property is near the Medical College, I-94, Wauwatosa Village, and American Family Field, with downtown Milwaukee less than 10 minutes away. A new water heater was installed in 2024, and the furnace was replaced in 2025.
The property is near the Medical College, I-94, Wauwatosa Village, and American Family Field, with downtown Milwaukee less than 10 minutes away. A new water heater was installed in 2024, and the furnace was replaced in 2025.
Key Highlights
- 1,630 SF duplex with upper and lower units
- Large fenced yard and detached garage
- Fresh exterior paint on the home and garage
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
$16,396
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
5.29%
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%
$327,920
$327.9K
Cap Rate 7%
$234,229
$234.2K
Cap Rate 9%
$182,178
$182.2K
Market Conditions
NOI Build-Up for 1,630 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
$24.5K $15.00/SF
− Vacancy
−$1.0K −$0.63/SF
EGI
$23.4K $14.37/SF
− OpEx
−$7.0K −$4.31/SF
NOI
$16.4K $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%
$327,920
Cap Rate 7%
$234,229
Cap Rate 9%
$182,178
Alternative Uses
Best Use
Multifamily LT 5
$234.2K
$205.0K – $273.3K
NOI $16,396 @ 7.0% cap · market cap 5.29%
Second Best
Apartment 5plus
$216.9K
$189.8K – $253.0K
NOI $15,182 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$391.7K
$342.7K – $457.0K
NOI $27,419 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
658
Businesses Nearby
Explore this area
Business Placement
Demographics for 53214, WI
34,297
Population
17,530
Households
2
Avg Household Size
37
Median Age
28%
College-Educated
93%
High-School Grad
7.1 sq mi
ZIP Area
4,831
Density / Sq Mi
$62,712
Median Household Income
$46,304
Median Earnings
$999
Median Rent
$178,600
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 property with refreshed interiors, separate living spaces, and a fenced outdoor area near major Milwaukee destinations.
Where is this duplex located?
The property is located at 418 S 66th St Milwaukee, WI.
What is the asking price?
The asking price for this property is $309,900.
What are key features of this property?
This property features: 1,630 SF duplex with upper and lower units; Large fenced yard and detached garage; Fresh exterior paint on the home and garage
