Two-Unit Duplex with Separate
For Sale
$424,900
8811 W Hawthorne Ave #8813, Wauwatosa, WI 53226
Well-maintained duplex near Wisconsin Lutheran College, major medical facilities, Honey Creek Parkway, and convenient freeway connections.
Property Size1,950 SF
Price / SF$217.90
Days on Market21
Property Features for 8811 W Hawthorne Ave #8813
General Information
Standard status
Active
Size
1,950 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1951
Listing Agency:
Keller Williams-MNS Wauwatosa
(414) 550-6426
Listed By:
Todd Weickardt · License #3322
Source:
Milwaukeeforeverhome
Added: Aug 10
Changed: Aug 29
Last Checked: Aug 29 at 8:37PM
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-MNS Wauwatosa
Investment Insights
Based on property information with market context.
This 1,950-square-foot duplex, built in 1951, contains two matching residences. Each unit offers two bedrooms, one bathroom, an eat-in kitchen, living room, and dining room. Hardwood flooring and period kitchen elements add character, while included appliances support existing functionality. Separate utilities serve the units, with furnaces updated in 2015 and air-conditioning systems installed in 2021.
The property is located in Wauwatosa near Wisconsin Lutheran College, the Medical College of Wisconsin and MKE Regional Medical Center, Honey Creek Parkway, and Stone Creek Coffee. Freeway access is also described as convenient. The upper residence has a long-term tenant, providing an established occupancy arrangement within the two-unit configuration.
The property is located in Wauwatosa near Wisconsin Lutheran College, the Medical College of Wisconsin and MKE Regional Medical Center, Honey Creek Parkway, and Stone Creek Coffee. Freeway access is also described as convenient. The upper residence has a long-term tenant, providing an established occupancy arrangement within the two-unit configuration.
Key Highlights
- Two matching units, each with 2 BR and 1 BA
- 1950 SF duplex built in 1951
- Separate utilities for each unit
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
$20,897
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
4.92%
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%
$417,940
$417.9K
Cap Rate 7%
$298,529
$298.5K
Cap Rate 9%
$232,189
$232.2K
Market Conditions
NOI Build-Up for 1,950 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
$31.6K $16.20/SF
− Vacancy
−$1.7K −$0.89/SF
EGI
$29.9K $15.31/SF
− OpEx
−$9.0K −$4.59/SF
NOI
$20.9K $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%
$417,940
Cap Rate 7%
$298,529
Cap Rate 9%
$232,189
Alternative Uses
Best Use
Multifamily LT 5
$298.5K
$261.2K – $348.3K
NOI $20,897 @ 7.0% cap · market cap 4.92%
Second Best
Apartment 5plus
$266.7K
$233.3K – $311.1K
NOI $18,667 @ 7.0% cap · market cap 4.39%
Theoretical Best
Office A
$462.4K
$404.6K – $539.5K
NOI $32,369 @ 7.0% cap · market cap 7.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
541
Businesses Nearby
Explore this area
Business Placement
Demographics for 53226, WI
19,921
Population
8,912
Households
2.2
Avg Household Size
37
Median Age
60%
College-Educated
97%
High-School Grad
6.8 sq mi
ZIP Area
2,930
Density / Sq Mi
$86,361
Median Household Income
$57,753
Median Earnings
$1,348
Median Rent
$301,400
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 - Well-maintained duplex near Wisconsin Lutheran College, major medical facilities, Honey Creek Parkway, and convenient freeway connections.
Where is this duplex located?
The property is located at 8811 W Hawthorne Ave #8813 Wauwatosa, WI.
What is the asking price?
The asking price for this property is $424,900.
What are key features of this property?
This property features: Two matching units, each with 2 BR and 1 BA; 1950 SF duplex built in 1951; Separate utilities for each unit
