Two-Unit Townhouse
For Sale
$209,000
6826-6824 W Mill Road, Milwaukee, WI 53218
Both residences provide three bedrooms and two bathrooms in a townhouse-style configuration.
Property Size1,375 SF
Price / SF$152
Days on Market81
Property Features for 6826-6824 W Mill Road
General Information
Standard status
Active
Size
1,375 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,209
Listing Agency:
Allied Realty Group LLC
(262) 224-0092
Listed By:
Joseph Schulteis · License #5889590
(262) 224-0092
Source:
Exprealty
Added: Jun 12
Changed: Aug 29
Last Checked: Aug 30 at 11:35PM
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 Allied Realty Group LLC
Investment Insights
Based on property information with market context.
This duplex consists of two separate townhouse-style residences, with each unit offering three bedrooms, two bathrooms, and 1,375 square feet. The layout provides distinct living spaces within one multifamily property at 6826-6824 W Mill Road in Milwaukee, Wisconsin.
Residents are responsible for their own utilities. The landlord pays water and sewer charges, with those costs reimbursed by the tenants.
Residents are responsible for their own utilities. The landlord pays water and sewer charges, with those costs reimbursed by the tenants.
Key Highlights
- Two separate townhouse units in one duplex property
- Each unit includes 3 bedrooms and 2 bathrooms
- Each residence measures 1,375 sq. ft.
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
$14,579
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
6.98%
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%
$291,580
$291.6K
Cap Rate 7%
$208,271
$208.3K
Cap Rate 9%
$161,989
$162.0K
Market Conditions
NOI Build-Up for 1,375 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
$22.3K $16.20/SF
− Vacancy
−$1.4K −$1.05/SF
EGI
$20.8K $15.15/SF
− OpEx
−$6.2K −$4.54/SF
NOI
$14.6K $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%
$291,580
Cap Rate 7%
$208,271
Cap Rate 9%
$161,989
Alternative Uses
Best Use
Multifamily LT 5
$208.3K
$182.2K – $243.0K
NOI $14,579 @ 7.0% cap · market cap 6.98%
Second Best
Apartment 5plus
$186.8K
$163.5K – $218.0K
NOI $13,079 @ 7.0% cap · market cap 6.26%
Theoretical Best
Warehouse
$1.04M
$912.0K – $1.22M
NOI $72,958 @ 7.0% cap · market cap 34.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
387
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 - Both residences provide three bedrooms and two bathrooms in a townhouse-style configuration.
Where is this duplex located?
The property is located at 6826-6824 W Mill Road Milwaukee, WI.
What is the asking price?
The asking price for this property is $209,000.
What are key features of this property?
This property features: Two separate townhouse units in one duplex property; Each unit includes 3 bedrooms and 2 bathrooms; Each residence measures 1,375 sq. ft.
