Renovated Two-Unit
For Sale
$250,000
5968 N 36th St, Milwaukee, WI 53209
Modern finishes complement two residential units with a detached garage and fenced outdoor area.
Property Size1,892 SF
Price / SF$132.14
Days on Market55
Property Features for 5968 N 36th St
General Information
Standard status
Active
Size
1,892 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Amenities
detached garage
fully fenced backyard
Building Details
Year Built
1955
Buildings
1
Listing Agency:
KAI Real Estate
Listed By:
Michelle Long · License #5939090
(262) 901-5737
Source:
Nikolicgroup
Added: Aug 4
Changed: Sep 12
Last Checked: Sep 26 at 9:46AM
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 KAI Real Estate
Investment Insights
Based on property information with market context.
Built in 1955, this duplex has been renovated with updated finishes throughout both residences. Each unit includes 2 bedrooms, creating a straightforward two-unit residential configuration in Milwaukee.
The property also features a detached garage, a fully fenced backyard, and additional outdoor space. Its combination of refreshed interiors and functional exterior improvements supports both owner-occupancy and rental use.
The property also features a detached garage, a fully fenced backyard, and additional outdoor space. Its combination of refreshed interiors and functional exterior improvements supports both owner-occupancy and rental use.
Key Highlights
- Renovated duplex with 2 bedrooms in each unit
- Updated finishes throughout both residences
- Detached garage included
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
$19,615
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
7.85%
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%
$392,300
$392.3K
Cap Rate 7%
$280,214
$280.2K
Cap Rate 9%
$217,944
$217.9K
Market Conditions
NOI Build-Up for 1,892 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
$30.0K $15.84/SF
− Vacancy
−$1.9K −$1.03/SF
EGI
$28.0K $14.81/SF
− OpEx
−$8.4K −$4.44/SF
NOI
$19.6K $10.37/SF
Area
ZIP 53209
Vacancy
6.50%
Lease Rate
$15.84 /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%
$392,300
Cap Rate 7%
$280,214
Cap Rate 9%
$217,944
Alternative Uses
Best Use
Multifamily LT 5
$280.2K
$245.2K – $326.9K
NOI $19,615 @ 7.0% cap · market cap 7.85%
Second Best
Apartment 5plus
$260.5K
$227.9K – $303.9K
NOI $18,233 @ 7.0% cap · market cap 7.29%
Theoretical Best
Office A
$454.7K
$397.8K – $530.4K
NOI $31,826 @ 7.0% cap · market cap 12.73%
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
386
Businesses Nearby
Explore this area
Business Placement
Demographics for 53209, WI
44,586
Population
21,466
Households
2.1
Avg Household Size
37
Median Age
25%
College-Educated
89%
High-School Grad
10.9 sq mi
ZIP Area
4,090
Density / Sq Mi
$45,288
Median Household Income
$33,854
Median Earnings
$980
Median Rent
$150,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Modern finishes complement two residential units with a detached garage and fenced outdoor area.
Where is this duplex located?
The property is located at 5968 N 36th St Milwaukee, WI.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Renovated duplex with 2 bedrooms in each unit; Updated finishes throughout both residences; Detached garage included
