Character Duplex with Furnished Upper
New
For Sale
$469,900
8215 Portland AVENUE 8217, Milwaukee, WI 53213
Two distinct units pair original interior details downstairs with a furnished mid-term rental setup upstairs.
Property Size1,874 SF
Price / SF$250.75
Days on Market4
Property Features for 8215 Portland AVENUE 8217
General Information
Standard status
Active
Size
1,874 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,688
Amenities
coin-op laundry
enclosed front porch
patio
Building Details
Building Size
1,874 SF
Year Built
1923
Listing Agency:
Keller Williams Realty-Lake Country
Listed By:
Zachary Siewert
(262) 212-0260
Source:
Prolificrealtygroup
Added: Oct 30
Changed: Nov 2
Last Checked: Oct 31 at 3:18AM
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 Keller Williams Realty-Lake Country
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Investment Insights
Based on property information with market context.
Built in 1923, this Milwaukee duplex has two distinct living spaces. The lower unit features natural woodwork, stained glass, a walk-in pantry and an enclosed front porch. Upstairs, the unit is furnished and configured for mid-term stays, with a large primary bedroom, breakfast bar and additional storage. Shared property features include a basement with storage and coin-operated laundry, off-street parking, and a backyard with a patio and stone landscaping.
The property is near Froedtert/MCW and Wilson Elementary. The furnished upper unit has been used as a mid-term rental for traveling professionals.
The property is near Froedtert/MCW and Wilson Elementary. The furnished upper unit has been used as a mid-term rental for traveling professionals.
Key Highlights
- Duplex built in 1923
- Furnished upper unit used for mid‑term stays
- Lower unit includes stained glass, natural woodwork, walk‑in pantry and enclosed front porch
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,851
Cap Rate
4.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$377,020
$377.0K
Cap Rate 7%
$269,300
$269.3K
Cap Rate 9%
$209,456
$209.5K
Market Conditions
NOI Build-Up for 1,874 SF
Gross rent
$28.1K $15.00/SF
− Vacancy
−$1.2K −$0.63/SF
EGI
$26.9K $14.37/SF
− OpEx
−$8.1K −$4.31/SF
NOI
$18.9K $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 Rate 5%
$377,020
Cap Rate 7%
$269,300
Cap Rate 9%
$209,456
Alternative Uses
Best Use
Multifamily LT 5
$269.3K
$235.6K – $314.2K
NOI $18,851 @ 7.0% cap · market cap 4.01%
Second Best
Apartment 5plus
$249.3K
$218.2K – $290.9K
NOI $17,454 @ 7.0% cap · market cap 3.71%
Theoretical Best
Office A
$450.3K
$394.1K – $525.4K
NOI $31,524 @ 7.0% cap · market cap 6.71%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,364
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two distinct units pair original interior details downstairs with a furnished mid-term rental setup upstairs.
Where is this duplex located?
The property is located at 8215 Portland AVENUE 8217 Milwaukee, WI.
What is the asking price?
The asking price for this property is $469,900.
What are key features of this property?
This property features: Duplex built in 1923; Furnished upper unit used for mid‑term stays; Lower unit includes stained glass, natural woodwork, walk‑in pantry and enclosed front porch
