Owner-Occupied Duplex with
For Sale
$279,000
6654 West Constance Avenue Unit 6656, Milwaukee, WI 53218
Well-maintained duplex with two 3-bedroom units, updated interiors, full basement, and a detached two-car garage.
Property Size1,978 SF
Price / SF$141.05
Days on Market291
Property Features for 6654 West Constance Avenue Unit 6656
General Information
Standard status
Active
Size
1,978 SF
Total Parking Spaces
2
Property subtype
Multi-Family / Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Amenities
Block, Full, Yes
Vinyl, Brick
Building Details
Year Built
1958
Tenancy
Multi
Listing Agency:
Coldwell Banker HomeSale Realty - Wauwatosa
(916) 519-1575
Listed By:
Ka K Lor · License #92909-94
(916) 519-1575
Source:
Compass
Added: Nov 13, 2025
Changed: Aug 8
Last Checked: Jul 21 at 3:12AM
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 Coldwell Banker HomeSale Realty - Wauwatosa
Investment Insights
Based on property information with market context.
This owner-occupied duplex offers two separate units, each with three bedrooms and one bathroom. Both units have been updated with new LVP flooring and fresh paint, and the lower unit features a granite countertop. The property includes a full basement and a detached two-car garage, with separate utilities for each unit.
The duplex is conveniently located near transit, shopping, schools, parks, and the freeway, supporting flexible use as a primary residence with rental income potential or an income-focused investment.
The configuration includes two self-contained units with separate utility setups, plus shared property improvements such as the full basement and detached garage.
The duplex is conveniently located near transit, shopping, schools, parks, and the freeway, supporting flexible use as a primary residence with rental income potential or an income-focused investment.
The configuration includes two self-contained units with separate utility setups, plus shared property improvements such as the full basement and detached garage.
Key Highlights
- Owner‑occupied duplex built in 1958 with two 3‑bedroom, 1‑bath units
- Both units updated with new LVP flooring and fresh interior paint
- Lower unit features a granite countertop
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
$20,973
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
7.52%
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%
$419,460
$419.5K
Cap Rate 7%
$299,614
$299.6K
Cap Rate 9%
$233,033
$233.0K
Market Conditions
NOI Build-Up for 1,978 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
$32.0K $16.20/SF
− Vacancy
−$2.1K −$1.05/SF
EGI
$30.0K $15.15/SF
− OpEx
−$9.0K −$4.54/SF
NOI
$21.0K $10.60/SF
Area
ZIP 53218
Vacancy
6.50%
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%
$419,460
Cap Rate 7%
$299,614
Cap Rate 9%
$233,033
Alternative Uses
Best Use
Multifamily LT 5
$299.6K
$262.2K – $349.6K
NOI $20,973 @ 7.0% cap · market cap 7.52%
Second Best
Apartment 5plus
$268.8K
$235.2K – $313.6K
NOI $18,815 @ 7.0% cap · market cap 6.74%
Theoretical Best
Warehouse
$1.50M
$1.31M – $1.75M
NOI $104,953 @ 7.0% cap · market cap 37.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
469
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
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 - Well-maintained duplex with two 3-bedroom units, updated interiors, full basement, and a detached two-car garage.
Where is this duplex located?
The property is located at 6654 West Constance Avenue Unit 6656 Milwaukee, WI.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: Owner‑occupied duplex built in 1958 with two 3‑bedroom, 1‑bath units; Both units updated with new LVP flooring and fresh interior paint; Lower unit features a granite countertop
