Duplex with Former Attic
For Sale
$259,900
611 E Chambers St, Milwaukee, WI 53212
Three-bedroom and two-bedroom units include walk-in pantries, abundant cabinetry, and natural light.
Property Size2,319 SF
Price / SF$112.07
Days on Market76
Property Features for 611 E Chambers St
General Information
Standard status
Active
Size
2,319 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR, 1 x 2BR
Multifamily Units
2
Building Details
Year Built
1912
Listing Agency:
Realty Experts
Listed By:
Richard Barnes
(414) 899-8146
Source:
Nikolicgroup
Added: Aug 3
Changed: Oct 4
Last Checked: Oct 16 at 10:27AM
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 Realty Experts
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Investment Insights
Based on property information with market context.
Built in 1912, this 2,319-square-foot duplex contains a three-bedroom upper residence and a two-bedroom lower residence. Both units feature walk-in pantries, substantial kitchen cabinetry, and natural light. The property also includes an attic that was formerly configured as an apartment, along with a clean, dry block basement.
Exterior updates include a 3 yr old roof, some new windows, and newer gutters. Three electric meters serve the property. A rear parking slab that could accommodate 2-3 cars is acceptable to the city. Located at 611 E Chambers St in Milwaukee, the property is in the River West area and may support owner occupancy or future repositioning, subject to applicable approvals and property conditions.
Exterior updates include a 3 yr old roof, some new windows, and newer gutters. Three electric meters serve the property. A rear parking slab that could accommodate 2-3 cars is acceptable to the city. Located at 611 E Chambers St in Milwaukee, the property is in the River West area and may support owner occupancy or future repositioning, subject to applicable approvals and property conditions.
Key Highlights
- Three‑bedroom upper unit and two‑bedroom lower unit
- Attic was formerly configured as an apartment
- 2,319 square feet on a 0.08‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,327
Cap Rate
8.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$466,540
$466.5K
Cap Rate 7%
$333,243
$333.2K
Cap Rate 9%
$259,189
$259.2K
Market Conditions
NOI Build-Up for 2,319 SF
Gross rent
$34.8K $15.00/SF
− Vacancy
−$1.5K −$0.63/SF
EGI
$33.3K $14.37/SF
− OpEx
−$10.0K −$4.31/SF
NOI
$23.3K $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 Rate 5%
$466,540
Cap Rate 7%
$333,243
Cap Rate 9%
$259,189
Alternative Uses
Best Use
Multifamily LT 5
$333.2K
$291.6K – $388.8K
NOI $23,327 @ 7.0% cap · market cap 8.98%
Second Best
Apartment 5plus
$308.6K
$270.0K – $360.0K
NOI $21,599 @ 7.0% cap · market cap 8.31%
Theoretical Best
Office A
$557.3K
$487.6K – $650.2K
NOI $39,009 @ 7.0% cap · market cap 15.01%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
739
Businesses Nearby
Explore this area
Business Placement
Demographics for 53212, WI
28,702
Population
15,749
Households
1.8
Avg Household Size
32
Median Age
37%
College-Educated
91%
High-School Grad
4.1 sq mi
ZIP Area
7,000
Density / Sq Mi
$42,679
Median Household Income
$36,578
Median Earnings
$1,038
Median Rent
$204,300
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
Frequently Asked Questions
What type of property is this?
Duplex - Three-bedroom and two-bedroom units include walk-in pantries, abundant cabinetry, and natural light.
Where is this duplex located?
The property is located at 611 E Chambers St Milwaukee, WI.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: Three‑bedroom upper unit and two‑bedroom lower unit; Attic was formerly configured as an apartment; 2,319 square feet on a 0.08‑acre lot
