Renovated Two-Unit
For Sale
$539,000
6800 Auburn Ave, Wauwatosa, WI 53213
Two three-bedroom residences feature updated kitchens, baths, mechanical systems, and exterior components.
Property Size2,600 SF
Price / SF$207.31
Days on Market109
Property Features for 6800 Auburn Ave
General Information
Standard status
Active
Size
2,600 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Furnished
No
Taxes and HOA fees
Annual Taxes
$3,350
Listing Agency:
Realty of America LLC
(619) 929-0526
Listed By:
Paula Zamorano
Source:
Exprealty
Added: May 7
Changed: Aug 21
Last Checked: Aug 22 at 11:13AM
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 of America LLC
Investment Insights
Based on property information with market context.
This duplex at 6800 Auburn Ave contains two residential units within approximately 2,600 square feet. Each residence includes three bedrooms and one full bathroom, providing a consistent layout across both units. The property has undergone extensive renovation, including new kitchens and bathrooms, replacement windows, updated walls and insulation, a new roof and siding, new water heaters, and upgraded HVAC systems. The renovation work was completed with city permits.
Located in Wauwatosa, the property combines a two-unit configuration with substantial improvements already completed. The address supports either continued use as a duplex or occupancy of one unit while maintaining a second residential unit, as supported by the existing configuration.
Located in Wauwatosa, the property combines a two-unit configuration with substantial improvements already completed. The address supports either continued use as a duplex or occupancy of one unit while maintaining a second residential unit, as supported by the existing configuration.
Key Highlights
- Two‑unit duplex with 2,600 square feet
- Each unit includes 3 bedrooms and 1 full bathroom
- City‑permitted renovation completed
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
$27,862
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
5.17%
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%
$557,240
$557.2K
Cap Rate 7%
$398,029
$398.0K
Cap Rate 9%
$309,578
$309.6K
Market Conditions
NOI Build-Up for 2,600 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
$42.1K $16.20/SF
− Vacancy
−$2.3K −$0.89/SF
EGI
$39.8K $15.31/SF
− OpEx
−$11.9K −$4.59/SF
NOI
$27.9K $10.72/SF
Area
Milwaukee County, WI
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%
$557,240
Cap Rate 7%
$398,029
Cap Rate 9%
$309,578
Alternative Uses
Best Use
Multifamily LT 5
$398.0K
$348.3K – $464.4K
NOI $27,862 @ 7.0% cap · market cap 5.17%
Second Best
Apartment 5plus
$355.6K
$311.1K – $414.8K
NOI $24,890 @ 7.0% cap · market cap 4.62%
Theoretical Best
Office A
$616.6K
$539.5K – $719.3K
NOI $43,159 @ 7.0% cap · market cap 8.01%
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
893
Businesses Nearby
Explore this area
Business Placement
Demographics for 53213, WI
26,469
Population
12,591
Households
2.1
Avg Household Size
37
Median Age
63%
College-Educated
98%
High-School Grad
3.9 sq mi
ZIP Area
6,787
Density / Sq Mi
$94,144
Median Household Income
$59,472
Median Earnings
$1,228
Median Rent
$311,200
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 - Two three-bedroom residences feature updated kitchens, baths, mechanical systems, and exterior components.
Where is this duplex located?
The property is located at 6800 Auburn Ave Wauwatosa, WI.
What is the asking price?
The asking price for this property is $539,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,600 square feet; Each unit includes 3 bedrooms and 1 full bathroom; City‑permitted renovation completed
