Side-by-Side
New
For Sale
$278,000
7951 N 94th St, Milwaukee, WI 53224
Two attached units provide three-bedroom layouts, private basements, and separate access for residential income use.
Property Size2,517 SF
Price / SF$110.45
Days on Market7
Property Features for 7951 N 94th St
General Information
Standard status
Active
Size
2,517 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/1.5BA
Multifamily Units
2
Building Details
Year Built
1981
Construction
brick
Listing Agency:
Cherry Home Realty, LLC
Listed By:
Darkis Davis
(414) 895-8130
Source:
Levelupwi
Added: Sep 21
Last Checked: Sep 26 at 12:24PM
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 Cherry Home Realty, LLC
Investment Insights
Based on property information with market context.
Built in 1981, this side-by-side duplex contains two townhouse-style units totaling 2,517 square feet. Each unit offers three bedrooms with walk-in closets, 1.5 baths, and a private basement. Brick and aluminum siding provide a low-maintenance exterior, while each side has a private paved driveway. Additional parking is available along the street.
The property is located at 7951 N 94th St in Milwaukee, Wisconsin. One unit is vacant, creating an owner-occupant option, while the second unit can generate rent immediately. Investors may also lease both residences as a two-unit income property.
The property is located at 7951 N 94th St in Milwaukee, Wisconsin. One unit is vacant, creating an owner-occupant option, while the second unit can generate rent immediately. Investors may also lease both residences as a two-unit income property.
Key Highlights
- Two‑unit side‑by‑side duplex with 2,517 SF
- Each unit includes 3 bedrooms, walk‑in closets, and 1.5 baths
- Private basement included with both units
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
$25,319
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
9.11%
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%
$506,380
$506.4K
Cap Rate 7%
$361,700
$361.7K
Cap Rate 9%
$281,322
$281.3K
Market Conditions
NOI Build-Up for 2,517 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
$37.8K $15.00/SF
− Vacancy
−$1.6K −$0.63/SF
EGI
$36.2K $14.37/SF
− OpEx
−$10.9K −$4.31/SF
NOI
$25.3K $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 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%
$506,380
Cap Rate 7%
$361,700
Cap Rate 9%
$281,322
Alternative Uses
Best Use
Multifamily LT 5
$361.7K
$316.5K – $422.0K
NOI $25,319 @ 7.0% cap · market cap 9.11%
Second Best
Apartment 5plus
$334.9K
$293.0K – $390.7K
NOI $23,443 @ 7.0% cap · market cap 8.43%
Theoretical Best
Office A
$604.9K
$529.3K – $705.7K
NOI $42,340 @ 7.0% cap · market cap 15.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
105
Businesses Nearby
Explore this area
Business Placement
Demographics for 53224, WI
20,786
Population
8,530
Households
2.4
Avg Household Size
32
Median Age
27%
College-Educated
92%
High-School Grad
10.1 sq mi
ZIP Area
2,058
Density / Sq Mi
$69,727
Median Household Income
$44,745
Median Earnings
$1,160
Median Rent
$194,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two attached units provide three-bedroom layouts, private basements, and separate access for residential income use.
Where is this duplex located?
The property is located at 7951 N 94th St Milwaukee, WI.
What is the asking price?
The asking price for this property is $278,000.
What are key features of this property?
This property features: Two‑unit side‑by‑side duplex with 2,517 SF; Each unit includes 3 bedrooms, walk‑in closets, and 1.5 baths; Private basement included with both units
