Duplex with In-Ground
For Sale
$475,000
6840 S North Cape Rd, Franklin, WI 53132
Two residential units include flexible lower-level space, a private balcony, composite deck, fenced yard, and attached garage or shop area.
Property Size2,532 SF
Price / SF$187.60
Days on Market19
Property Features for 6840 S North Cape Rd
General Information
Standard status
Active
Size
2,532 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$6,662
Amenities
in-ground pool
composite deck
private balcony
fenced backyard
custom shed
Building Details
Tenancy
Multi
Listing Agency:
Shorewest Realtors, Inc.
(414) 803-5789
Listed By:
Robert Wood
(414) 803-5789
Source:
Exprealty
Added: Jul 24
Changed: Aug 8
Last Checked: Aug 10 at 9:56AM
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 Shorewest Realtors, Inc.
Investment Insights
Based on property information with market context.
This 2,532-square-foot duplex includes two residential units with distinct layouts. The first-floor unit features an oak kitchen, large family room with natural fireplace, dining and living areas separated by barn doors, and a finished lower level with a third bedroom and den. The upper unit offers two bedrooms, an eat-in kitchen, and a private balcony.
Exterior features include an expansive composite deck overlooking a large in-ground pool and private fenced backyard. The attached garage or shop area can be converted back to two spaces, and the property also includes additional outside spaces and a custom shed.
Exterior features include an expansive composite deck overlooking a large in-ground pool and private fenced backyard. The attached garage or shop area can be converted back to two spaces, and the property also includes additional outside spaces and a custom shed.
Key Highlights
- 2,532‑square‑foot duplex with two residential units
- First‑floor unit includes a third bedroom and den in the finished lower level
- Upper unit features 2 bedrooms, an eat‑in kitchen, and private balcony
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
$27,134
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
5.71%
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%
$542,680
$542.7K
Cap Rate 7%
$387,629
$387.6K
Cap Rate 9%
$301,489
$301.5K
Market Conditions
NOI Build-Up for 2,532 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
$41.0K $16.20/SF
− Vacancy
−$2.3K −$0.89/SF
EGI
$38.8K $15.31/SF
− OpEx
−$11.6K −$4.59/SF
NOI
$27.1K $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%
$542,680
Cap Rate 7%
$387,629
Cap Rate 9%
$301,489
Alternative Uses
Best Use
Multifamily LT 5
$387.6K
$339.2K – $452.2K
NOI $27,134 @ 7.0% cap · market cap 5.71%
Second Best
Apartment 5plus
$346.3K
$303.0K – $404.0K
NOI $24,239 @ 7.0% cap · market cap 5.10%
Theoretical Best
Office A
$600.4K
$525.4K – $700.5K
NOI $42,030 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
161
Businesses Nearby
Explore this area
Business Placement
Demographics for 53132, WI
36,166
Population
14,073
Households
2.6
Avg Household Size
44
Median Age
46%
College-Educated
95%
High-School Grad
34.7 sq mi
ZIP Area
1,042
Density / Sq Mi
$110,656
Median Household Income
$64,194
Median Earnings
$1,380
Median Rent
$345,600
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 residential units include flexible lower-level space, a private balcony, composite deck, fenced yard, and attached garage or shop area.
Where is this duplex located?
The property is located at 6840 S North Cape Rd Franklin, WI.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 2,532‑square‑foot duplex with two residential units; First‑floor unit includes a third bedroom and den in the finished lower level; Upper unit features 2 bedrooms, an eat‑in kitchen, and private balcony
