Updated Duplex with
For Sale
$275,000
5526 W Wells St, Milwaukee, WI 53208
Two-unit property with separate kitchens, updated systems, and a bright sunroom.
Property Size1,744 SF
Price / SF$157.68
Days on Market29
Property Features for 5526 W Wells St
General Information
Standard status
Active
Size
1,744 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x studio, 1 x 2BR
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1926
Buildings
1
Listing Agency:
Vylla Home
(262) 309-7803
Listed By:
James Harris Jr · License #5634090
Source:
Jwregwi
Added: Aug 3
Changed: Aug 30
Last Checked: Aug 30 at 8:38PM
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 Vylla Home
Investment Insights
Based on property information with market context.
Built in 1926, this 1,744-square-foot duplex offers a studio upper unit and a two-bedroom lower unit. The upper residence includes herringbone LVP flooring, a distinct kitchen, full-size appliances, and a dishwasher. The lower unit features hardwood flooring, new stainless steel appliances, and a sunroom that can accommodate home-office use.
Recent improvements include Dutch lap siding, a roof replacement, a high-efficiency furnace, a new air-conditioning unit, and upgraded electrical service. The property is located at 5526 W Wells St in Milwaukee, within walking distance of American Family Field, approximately 10 minutes from Downtown Milwaukee, and near Tosa Village with freeway access.
Recent improvements include Dutch lap siding, a roof replacement, a high-efficiency furnace, a new air-conditioning unit, and upgraded electrical service. The property is located at 5526 W Wells St in Milwaukee, within walking distance of American Family Field, approximately 10 minutes from Downtown Milwaukee, and near Tosa Village with freeway access.
Key Highlights
- 1,744‑square‑foot duplex built in 1926
- Upper studio and lower two‑bedroom unit
- Separate upper‑unit kitchen with full‑size appliances and dishwasher
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
$17,543
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
6.38%
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%
$350,860
$350.9K
Cap Rate 7%
$250,614
$250.6K
Cap Rate 9%
$194,922
$194.9K
Market Conditions
NOI Build-Up for 1,744 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
$26.2K $15.00/SF
− Vacancy
−$1.1K −$0.63/SF
EGI
$25.1K $14.37/SF
− OpEx
−$7.5K −$4.31/SF
NOI
$17.5K $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%
$350,860
Cap Rate 7%
$250,614
Cap Rate 9%
$194,922
Alternative Uses
Best Use
Multifamily LT 5
$250.6K
$219.3K – $292.4K
NOI $17,543 @ 7.0% cap · market cap 6.38%
Second Best
Apartment 5plus
$232.0K
$203.0K – $270.7K
NOI $16,243 @ 7.0% cap · market cap 5.91%
Theoretical Best
Office A
$419.1K
$366.7K – $489.0K
NOI $29,337 @ 7.0% cap · market cap 10.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
564
Businesses Nearby
Explore this area
Business Placement
Demographics for 53208, WI
29,644
Population
13,778
Households
2.2
Avg Household Size
33
Median Age
31%
College-Educated
89%
High-School Grad
4.2 sq mi
ZIP Area
7,058
Density / Sq Mi
$50,585
Median Household Income
$40,729
Median Earnings
$924
Median Rent
$196,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with separate kitchens, updated systems, and a bright sunroom.
Where is this duplex located?
The property is located at 5526 W Wells St Milwaukee, WI.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 1,744‑square‑foot duplex built in 1926; Upper studio and lower two‑bedroom unit; Separate upper‑unit kitchen with full‑size appliances and dishwasher
