Duplex with Updated
For Sale
$149,500
5700 W Custer Ave, Milwaukee, WI 53218
Two residential units offer separate occupancy, with one vacant unit and one occupied under an oral lease.
Property Size1,434 SF
Price / SF$104.25
Days on Market9
Property Features for 5700 W Custer Ave
General Information
Standard status
Active
Size
1,434 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
Both units in need of flooring, paint and updating.
Additional Details
Multifamily Units
2
Building Details
Year Built
1952
Buildings
1
Construction
brick and aluminum
Listing Agency:
Real Estate Consultants of Wisconsin
Listed By:
Ron Simon · License #3642690
(414) 254-4549
Source:
Levelupwi
Added: Sep 28
Changed: Oct 2
Last Checked: Oct 5 at 10:47PM
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 Real Estate Consultants of Wisconsin
Investment Insights
Based on property information with market context.
Built in 1952, this duplex contains two units and has a brick and aluminum exterior. The upper unit is vacant; the lower unit is occupied by a long-term tenant under an oral lease. Both units need flooring, paint, and further updating. Attic and dormer insulation was added, according to the seller.
Recorded improvements include windows installed in 2019, a furnace from 2014, a roof from 2012, and an upper-unit water heater installed in 2025. The property occupies a corner lot at 5700 W Custer Ave in Milwaukee.
Recorded improvements include windows installed in 2019, a furnace from 2014, a roof from 2012, and an upper-unit water heater installed in 2025. The property occupies a corner lot at 5700 W Custer Ave in Milwaukee.
Key Highlights
- Two‑unit residential property built in 1952
- Upper unit is vacant; lower unit has a long‑term occupant under an oral lease
- Brick and aluminum exterior
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,641
Cap Rate
9.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$272,820
$272.8K
Cap Rate 7%
$194,871
$194.9K
Cap Rate 9%
$151,567
$151.6K
Market Conditions
NOI Build-Up for 1,434 SF
Gross rent
$26.3K $18.36/SF
− Vacancy
−$1.5K −$1.06/SF
EGI
$24.8K $17.30/SF
− OpEx
−$11.2K −$7.78/SF
NOI
$13.6K $9.51/SF
Area
ZIP 53218
Vacancy
5.80%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$272,820
Cap Rate 7%
$194,871
Cap Rate 9%
$151,567
Alternative Uses
Best Use
Multifamily LT 5
$217.2K
$190.1K – $253.4K
NOI $15,205 @ 7.0% cap · market cap 10.17%
Second Best
Apartment 5plus
$194.9K
$170.5K – $227.4K
NOI $13,641 @ 7.0% cap · market cap 9.12%
Theoretical Best
Warehouse
$1.09M
$951.1K – $1.27M
NOI $76,088 @ 7.0% cap · market cap 50.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
316
Businesses Nearby
Explore this area
Business Placement
Demographics for 53218, WI
38,488
Population
15,971
Households
2.4
Avg Household Size
31
Median Age
10%
College-Educated
83%
High-School Grad
5.9 sq mi
ZIP Area
6,523
Density / Sq Mi
$42,207
Median Household Income
$33,622
Median Earnings
$1,034
Median Rent
$122,200
Median Home Value
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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 residential units offer separate occupancy, with one vacant unit and one occupied under an oral lease.
Where is this duplex located?
The property is located at 5700 W Custer Ave Milwaukee, WI.
What is the asking price?
The asking price for this property is $149,500.
What are key features of this property?
This property features: Two‑unit residential property built in 1952; Upper unit is vacant; lower unit has a long‑term occupant under an oral lease; Brick and aluminum exterior
