Duplex with Separate
For Sale
$229,900
6630 N 55th Street 6630a, Milwaukee, WI 53223
Two-unit property with off-street parking, a larger backyard, and recent updates already completed.
Property Size1,800 SF
Price / SF$127.72
Days on Market51
Property Features for 6630 N 55th Street 6630a
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Graceland
Additional Details
Multifamily Units
2
Building Details
Year Built
1977
Listing Agency:
RE/MAX Lakeside-Central
Listed By:
Hoffmann Team* · License #5480794
(414) 897-0098
Source:
Jwregwi
Added: Sep 15
Changed: Oct 26
Last Checked: Oct 7 at 4:16PM
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 RE/MAX Lakeside-Central
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Investment Insights
Based on property information with market context.
This 1,800-square-foot duplex was built in 1977 and includes two residential units with separate utilities. The property has undergone several recent updates, reducing the need for immediate improvements. Both units are occupied by long-term tenants, and each unit is described as clean and spacious.
Exterior features include a larger backyard and off-street parking. The existing tenant occupancy and separately metered utilities provide established operating features for the property.
Exterior features include a larger backyard and off-street parking. The existing tenant occupancy and separately metered utilities provide established operating features for the property.
Key Highlights
- 1,800‑square‑foot duplex built in 1977
- Two units with separate utilities
- Both units occupied by long‑term tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,106
Cap Rate
7.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$362,120
$362.1K
Cap Rate 7%
$258,657
$258.7K
Cap Rate 9%
$201,178
$201.2K
Market Conditions
NOI Build-Up for 1,800 SF
Gross rent
$27.0K $15.00/SF
− Vacancy
−$1.1K −$0.63/SF
EGI
$25.9K $14.37/SF
− OpEx
−$7.8K −$4.31/SF
NOI
$18.1K $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%
$362,120
Cap Rate 7%
$258,657
Cap Rate 9%
$201,178
Alternative Uses
Best Use
Multifamily LT 5
$258.7K
$226.3K – $301.8K
NOI $18,106 @ 7.0% cap · market cap 7.88%
Second Best
Apartment 5plus
$239.5K
$209.6K – $279.4K
NOI $16,765 @ 7.0% cap · market cap 7.29%
Theoretical Best
Office A
$432.6K
$378.5K – $504.7K
NOI $30,279 @ 7.0% cap · market cap 13.17%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
148
Businesses Nearby
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Business Placement
Demographics for 53223, WI
28,884
Population
13,436
Households
2.1
Avg Household Size
39
Median Age
29%
College-Educated
90%
High-School Grad
9.9 sq mi
ZIP Area
2,918
Density / Sq Mi
$60,477
Median Household Income
$44,625
Median Earnings
$1,071
Median Rent
$184,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with off-street parking, a larger backyard, and recent updates already completed.
Where is this duplex located?
The property is located at 6630 N 55th Street 6630a Milwaukee, WI.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: 1,800‑square‑foot duplex built in 1977; Two units with separate utilities; Both units occupied by long‑term tenants
