Duplex with Two Three-Bedroom
For Sale
$229,900
9324 W Allyn St, Milwaukee, WI 53224
Both residences include one bathroom, while tenants handle their own utility costs.
Property Size2,148 SF
Price / SF$107.03
Days on Market29
Property Features for 9324 W Allyn St
General Information
Standard status
Active
Size
2,148 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Building Details
Year Built
1977
Listing Agency:
Allied Realty Group LLC
(262) 224-0092
Listed By:
Joseph Schulteis · License #5889590
Source:
Nikolicgroup
Added: Aug 2
Changed: Aug 29
Last Checked: Aug 29 at 10:45PM
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 Allied Realty Group LLC
Investment Insights
Based on property information with market context.
Built in 1977, this Milwaukee duplex contains two residential units with the same three-bedroom, one-bathroom layout. The configuration provides a straightforward two-unit property with established residential occupancy.
Utility responsibilities are divided between the parties: tenants pay their own utilities, while the owner covers water and sewer charges that are reimbursed by the tenants. One lease reaches its expiration date on 8/31, creating a defined point for reviewing occupancy and lease arrangements. The property is located at 9324 W Allyn St in Milwaukee, Wisconsin.
Utility responsibilities are divided between the parties: tenants pay their own utilities, while the owner covers water and sewer charges that are reimbursed by the tenants. One lease reaches its expiration date on 8/31, creating a defined point for reviewing occupancy and lease arrangements. The property is located at 9324 W Allyn St in Milwaukee, Wisconsin.
Key Highlights
- Two‑unit duplex in Milwaukee
- Each unit offers 3 bedrooms and 1 bathroom
- One lease expires on 8/31
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
$20,006
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
8.70%
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%
$400,120
$400.1K
Cap Rate 7%
$285,800
$285.8K
Cap Rate 9%
$222,289
$222.3K
Market Conditions
NOI Build-Up for 2,148 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
$37.9K $17.64/SF
− Vacancy
−$1.5K −$0.71/SF
EGI
$36.4K $16.93/SF
− OpEx
−$16.4K −$7.62/SF
NOI
$20.0K $9.31/SF
Area
Milwaukee, WI
Vacancy
4.00%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
45.00%
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%
$400,120
Cap Rate 7%
$285,800
Cap Rate 9%
$222,289
Alternative Uses
Best Use
Multifamily LT 5
$308.7K
$270.1K – $360.1K
NOI $21,607 @ 7.0% cap · market cap 9.40%
Second Best
Apartment 5plus
$285.8K
$250.1K – $333.4K
NOI $20,006 @ 7.0% cap · market cap 8.70%
Theoretical Best
Office A
$516.2K
$451.7K – $602.2K
NOI $36,133 @ 7.0% cap · market cap 15.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
222
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
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 - Both residences include one bathroom, while tenants handle their own utility costs.
Where is this duplex located?
The property is located at 9324 W Allyn St Milwaukee, WI.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: Two‑unit duplex in Milwaukee; Each unit offers 3 bedrooms and 1 bathroom; One lease expires on 8/31
