Updated Duplex with
For Sale
$200,000
5914 N 37th St, Milwaukee, WI 53221
Residential duplex with recent exterior and interior improvements, plus appliances included.
Property Size1,664 SF
Price / SF$120.19
Days on Market44
Property Features for 5914 N 37th St
General Information
Standard status
Active
Size
1,664 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,829
Listing Agency:
Buyers Vantage
(262) 781-9578
Listed By:
Nicole Fazio Denk
(414) 803-1010
Source:
Exprealty
Added: Jul 22
Changed: Sep 3
Last Checked: Aug 19 at 1:54PM
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 Buyers Vantage
Investment Insights
Based on property information with market context.
This duplex, built in 1954, includes a new roof, replacement windows, new flooring, and appliances. The property is zoned RES and is located at 5914 N 37th St in Milwaukee, Wisconsin.
Shopping plazas are nearby, and Bayshore Mall is within five miles of the property. The combination of a two-unit configuration and completed improvements provides a straightforward residential income property offering.
Shopping plazas are nearby, and Bayshore Mall is within five miles of the property. The combination of a two-unit configuration and completed improvements provides a straightforward residential income property offering.
Key Highlights
- Duplex built in 1954
- New roof and windows
- New flooring installed
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
$17,832
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
8.92%
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%
$356,640
$356.6K
Cap Rate 7%
$254,743
$254.7K
Cap Rate 9%
$198,133
$198.1K
Market Conditions
NOI Build-Up for 1,664 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
$27.0K $16.20/SF
− Vacancy
−$1.5K −$0.89/SF
EGI
$25.5K $15.31/SF
− OpEx
−$7.6K −$4.59/SF
NOI
$17.8K $10.72/SF
Area
ZIP 53221
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%
$356,640
Cap Rate 7%
$254,743
Cap Rate 9%
$198,133
Alternative Uses
Best Use
Multifamily LT 5
$254.7K
$222.9K – $297.2K
NOI $17,832 @ 7.0% cap · market cap 8.92%
Second Best
Apartment 5plus
$226.1K
$197.9K – $263.8K
NOI $15,828 @ 7.0% cap · market cap 7.91%
Theoretical Best
Warehouse
$1.26M
$1.10M – $1.47M
NOI $88,292 @ 7.0% cap · market cap 44.15%
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
360
Businesses Nearby
Explore this area
Business Placement
Demographics for 53221, WI
39,560
Population
17,126
Households
2.3
Avg Household Size
38
Median Age
25%
College-Educated
87%
High-School Grad
9.0 sq mi
ZIP Area
4,396
Density / Sq Mi
$61,640
Median Household Income
$41,430
Median Earnings
$1,071
Median Rent
$205,500
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 - Residential duplex with recent exterior and interior improvements, plus appliances included.
Where is this duplex located?
The property is located at 5914 N 37th St Milwaukee, WI.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Duplex built in 1954; New roof and windows; New flooring installed
