Duplex with Three-Bedroom
New
For Sale
$365,000
9423 W Mount Vernon Ave, Milwaukee, WI 53226
Each residence has an eat-in kitchen, spacious living room, and bedrooms with larger-than-normal closets.
Property Size2,036 SF
Price / SF$179.27
Days on Market4
Property Features for 9423 W Mount Vernon Ave
General Information
Standard status
Active
Size
2,036 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1954
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty
Listed By:
Realty Executives Southeast
(262) 443-0030
Source:
Therealestatestudiowi
Added: Oct 2
Changed: Oct 4
Last Checked: Oct 5 at 5:53PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This duplex contains two 3-bedroom units, each with a large living room, an eat-in kitchen, and generously sized bedrooms with larger-than-normal closets. The third bedroom in each unit is currently open to the living room; basement divider sections could be used to enclose those spaces. The property measures 2,036 square feet and was built in 1954.
The site overlooks Cannon Park and is near the Medical College, I-94, Wauwatosa Village, and American Family Field. Downtown Milwaukee is less than 10 minutes away. Both apartments have long-term tenants on month-to-month leases.
The site overlooks Cannon Park and is near the Medical College, I-94, Wauwatosa Village, and American Family Field. Downtown Milwaukee is less than 10 minutes away. Both apartments have long-term tenants on month-to-month leases.
Key Highlights
- Two 3‑bedroom units, each with an eat‑in kitchen and large living room
- Third bedroom in each unit is open to the living room; basement divider sections offer a way to enclose it
- 2,036 square feet; built in 1954
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,480
Cap Rate
5.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$409,600
$409.6K
Cap Rate 7%
$292,571
$292.6K
Cap Rate 9%
$227,556
$227.6K
Market Conditions
NOI Build-Up for 2,036 SF
Gross rent
$30.5K $15.00/SF
− Vacancy
−$1.3K −$0.63/SF
EGI
$29.3K $14.37/SF
− OpEx
−$8.8K −$4.31/SF
NOI
$20.5K $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%
$409,600
Cap Rate 7%
$292,571
Cap Rate 9%
$227,556
Alternative Uses
Best Use
Multifamily LT 5
$292.6K
$256.0K – $341.3K
NOI $20,480 @ 7.0% cap · market cap 5.61%
Second Best
Apartment 5plus
$270.9K
$237.0K – $316.1K
NOI $18,963 @ 7.0% cap · market cap 5.20%
Theoretical Best
Office A
$489.3K
$428.1K – $570.8K
NOI $34,249 @ 7.0% cap · market cap 9.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,507
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
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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 - Each residence has an eat-in kitchen, spacious living room, and bedrooms with larger-than-normal closets.
Where is this duplex located?
The property is located at 9423 W Mount Vernon Ave Milwaukee, WI.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Two 3‑bedroom units, each with an eat‑in kitchen and large living room; Third bedroom in each unit is open to the living room; basement divider sections offer a way to enclose it; 2,036 square feet; built in 1954
