4-Unit Quadplex with Recent
For Sale
$399,900
5680 N 91st St, Milwaukee, WI 53225
Updated four-unit residential income property with two-bedroom layouts, private outdoor spaces, shared laundry, and tenant storage.
Property Size3,382 SF
Days on Market12
Property Features for 5680 N 91st St
General Information
Standard status
Active
Size
3,382 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Amenities
patios
balconies
shared laundry
dedicated tenant storage
Building Details
Building Size
3,382 SF
Year Built
1959
Buildings
1
Listing Agency:
Firefly Real Estate, LLC
(414) 526-9450
Listed By:
Kelley Ruzicka · License #60642-90
(414) 526-9450
Source:
Sewartgroup
Added: Aug 18
Changed: Aug 21
Last Checked: Aug 28 at 6:16PM
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 Firefly Real Estate, LLC
Investment Insights
Based on property information with market context.
This quadplex contains four two-bedroom, one-bath residences with practical layouts and recent capital improvements. Work completed within the last 24 months includes extensive tuckpointing and repairs and strengthening to the second-floor porches. Each apartment has an eat-in kitchen, individual forced-air heat, and central air conditioning. Pella windows add another documented building feature.
Lower-level residences include patios, while upper-level units offer balconies. Shared laundry and dedicated tenant storage serve the property. Built in 1959, the asset is located at 5680 N 91st St in Milwaukee, Wisconsin, and is offered as a residential income property.
Lower-level residences include patios, while upper-level units offer balconies. Shared laundry and dedicated tenant storage serve the property. Built in 1959, the asset is located at 5680 N 91st St in Milwaukee, Wisconsin, and is offered as a residential income property.
Key Highlights
- Four‑family property with four 2‑bedroom, 1‑bath units
- Extensive tuckpointing completed within the last 24 months
- Second‑floor porches repaired and strengthened
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
$34,020
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
8.51%
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%
$680,400
$680.4K
Cap Rate 7%
$486,000
$486.0K
Cap Rate 9%
$378,000
$378.0K
Market Conditions
NOI Build-Up for 3,382 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
$50.7K $15.00/SF
− Vacancy
−$2.1K −$0.63/SF
EGI
$48.6K $14.37/SF
− OpEx
−$14.6K −$4.31/SF
NOI
$34.0K $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%
$680,400
Cap Rate 7%
$486,000
Cap Rate 9%
$378,000
Alternative Uses
Best Use
Multifamily LT 5
$486.0K
$425.3K – $567.0K
NOI $34,020 @ 7.0% cap · market cap 8.51%
Second Best
Apartment 5plus
$450.0K
$393.8K – $525.0K
NOI $31,500 @ 7.0% cap · market cap 7.88%
Theoretical Best
Office A
$812.7K
$711.1K – $948.2K
NOI $56,891 @ 7.0% cap · market cap 14.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
346
Businesses Nearby
Explore this area
Business Placement
Demographics for 53225, WI
25,138
Population
11,019
Households
2.3
Avg Household Size
33
Median Age
22%
College-Educated
91%
High-School Grad
7.0 sq mi
ZIP Area
3,591
Density / Sq Mi
$54,433
Median Household Income
$40,463
Median Earnings
$1,094
Median Rent
$174,500
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?
Quadplex - Updated four-unit residential income property with two-bedroom layouts, private outdoor spaces, shared laundry, and tenant storage.
Where is this quadplex located?
The property is located at 5680 N 91st St Milwaukee, WI.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Four‑family property with four 2‑bedroom, 1‑bath units; Extensive tuckpointing completed within the last 24 months; Second‑floor porches repaired and strengthened
