Duplex with Attached
For Sale
$389,900
801 Oakland Ave, Waukesha, WI 53186
Central air, newer mechanicals, and a refreshed exterior serve the upper and lower units.
Property Size2,336 SF
Price / SF$166.91
Days on Market27
Property Features for 801 Oakland Ave
General Information
Standard status
Active
Size
2,336 SF
Property subtype
Multi-Family
Building Details
Year Built
1900
Listing Agency:
Century 21 Affiliated-Wauwatosa
(920) 893-3001
Listed By:
James Olsen · License #3460
Source:
Milwaukeeforeverhome
Added: Aug 4
Changed: Aug 29
Last Checked: Aug 25 at 3:46AM
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 Century 21 Affiliated-Wauwatosa
Investment Insights
Based on property information with market context.
Built in 1900, this 2,336-square-foot duplex is configured with upper and lower residences. The exterior has fresh paint, a new tear-off roof, and new gutters. Central air serves both units, while newer furnaces and water heaters support the building. An attached 2-car garage adds on-site parking and storage.
The lower residence is occupied by a long-term tenant under a month-to-month arrangement. The property is located at 801 Oakland Ave in Waukesha, Wisconsin. Its two-unit layout combines established residential improvements with updated exterior and mechanical components.
The lower residence is occupied by a long-term tenant under a month-to-month arrangement. The property is located at 801 Oakland Ave in Waukesha, Wisconsin. Its two-unit layout combines established residential improvements with updated exterior and mechanical components.
Key Highlights
- 2,336‑square‑foot duplex built in 1900
- New tear‑off roof and gutters
- Freshly painted exterior
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
$26,797
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
6.87%
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%
$535,940
$535.9K
Cap Rate 7%
$382,814
$382.8K
Cap Rate 9%
$297,744
$297.7K
Market Conditions
NOI Build-Up for 2,336 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
$40.1K $17.16/SF
− Vacancy
−$1.8K −$0.77/SF
EGI
$38.3K $16.39/SF
− OpEx
−$11.5K −$4.92/SF
NOI
$26.8K $11.47/SF
Area
Waukesha County, WI
Vacancy
4.50%
Lease Rate
$17.16 /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%
$535,940
Cap Rate 7%
$382,814
Cap Rate 9%
$297,744
Alternative Uses
Best Use
Multifamily LT 5
$382.8K
$335.0K – $446.6K
NOI $26,797 @ 7.0% cap · market cap 6.87%
Second Best
Apartment 5plus
$354.5K
$310.2K – $413.6K
NOI $24,814 @ 7.0% cap · market cap 6.36%
Theoretical Best
Flex RnD
$1.19M
$1.04M – $1.39M
NOI $83,456 @ 7.0% cap · market cap 21.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
495
Businesses Nearby
Explore this area
Business Placement
Demographics for 53186, WI
32,332
Population
15,066
Households
2.1
Avg Household Size
38
Median Age
39%
College-Educated
95%
High-School Grad
12.6 sq mi
ZIP Area
2,566
Density / Sq Mi
$74,596
Median Household Income
$42,007
Median Earnings
$1,180
Median Rent
$277,800
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 - Central air, newer mechanicals, and a refreshed exterior serve the upper and lower units.
Where is this duplex located?
The property is located at 801 Oakland Ave Waukesha, WI.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: 2,336‑square‑foot duplex built in 1900; New tear‑off roof and gutters; Freshly painted exterior
