Duplex with Alley
For Sale
$289,900
Pending
8306 W Center St, Milwaukee, WI 53222
Two-unit property with separate mechanical systems, a vacant lower unit, and an occupied upper unit.
Property Size1,800 SF
Days on Market18
Property Features for 8306 W Center St
General Information
Standard status
Pending
Size
1,800 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,760
Building Details
Buildings
1
Listing Agency:
Lake Country Home Realty LLC
(262) 563-9565
Listed By:
James Lotz
(262) 312-8603
Source:
Exprealty
Added: Sep 3
Changed: Sep 10
Last Checked: Sep 19 at 12:30PM
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 Lake Country Home Realty LLC
Investment Insights
Based on property information with market context.
This duplex at 8306 W Center St in Milwaukee, WI offers two separate residential units with individual mechanical systems. The lower unit is vacant, while the upper unit is occupied under a month-to-month arrangement. Both units receive natural light, and the property includes a yard with alley access to the garage and parking area.
The upper resident has been handling lawn care and snow removal. The property information identifies the building size as 1,800 square feet, although room dimensions and square footage should be confirmed by the buyer.
The upper resident has been handling lawn care and snow removal. The property information identifies the building size as 1,800 square feet, although room dimensions and square footage should be confirmed by the buyer.
Key Highlights
- Two‑unit duplex with separate mechanical systems
- Lower unit is vacant
- Upper unit occupied under a month‑to‑month agreement
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
$18,106
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
6.25%
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%
$362,120
$362.1K
Cap Rate 7%
$258,657
$258.7K
Cap Rate 9%
$201,178
$201.2K
Market Conditions
NOI Build-Up for 1,800 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
$27.0K $15.00/SF
− Vacancy
−$1.1K −$0.63/SF
EGI
$25.9K $14.37/SF
− OpEx
−$7.8K −$4.31/SF
NOI
$18.1K $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%
$362,120
Cap Rate 7%
$258,657
Cap Rate 9%
$201,178
Alternative Uses
Best Use
Multifamily LT 5
$258.7K
$226.3K – $301.8K
NOI $18,106 @ 7.0% cap · market cap 6.25%
Second Best
Apartment 5plus
$239.5K
$209.6K – $279.4K
NOI $16,765 @ 7.0% cap · market cap 5.78%
Theoretical Best
Office A
$432.6K
$378.5K – $504.7K
NOI $30,279 @ 7.0% cap · market cap 10.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
474
Businesses Nearby
Explore this area
Business Placement
Demographics for 53222, WI
25,422
Population
11,765
Households
2.2
Avg Household Size
37
Median Age
44%
College-Educated
96%
High-School Grad
5.4 sq mi
ZIP Area
4,708
Density / Sq Mi
$73,523
Median Household Income
$48,029
Median Earnings
$1,026
Median Rent
$202,100
Median Home Value
Check the figures for this property
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-unit property with separate mechanical systems, a vacant lower unit, and an occupied upper unit.
Where is this duplex located?
The property is located at 8306 W Center St Milwaukee, WI.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: Two‑unit duplex with separate mechanical systems; Lower unit is vacant; Upper unit occupied under a month‑to‑month agreement
