Duplex with Three-Bedroom
New
For Sale
$350,000
9423 W Mount Vernon Avenue #9425, Milwaukee, WI 53226
Each residence has an eat-in kitchen, a spacious living area, and bedroom closets described as larger than usual.
Property Size2,036 SF
Price / SF$171.91
Days on Market6
Property Features for 9423 W Mount Vernon Avenue #9425
General Information
Standard status
Active
Size
2,036 SF
Property subtype
Multi Family Home
Zoning
RS5
Site & Location
Neighborhood
Cannon Park
Highway Access
Yes
Additional Details
Multifamily Units
2
Tenant in Place
Yes
Building Details
Building Size
2,036 SF
Year Built
1954
Listing Agency:
Abundance Real Estate
(262) 599-3735
Listed By:
Kevin Rigg · License #5675394
(414) 333-4760
Source:
Coactionrealestate
Added: Oct 19
Changed: Oct 23
Last Checked: Oct 23 at 3:30PM
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 Abundance Real Estate
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Investment Insights
Based on property information with market context.
Built in 1954, this 2,036-square-foot duplex contains two residences, each with three bedrooms, an eat-in kitchen, and a large living room. The third bedroom in each unit is open to the living area; basement divider sections offer a way to separate those spaces. Both units have long-term tenants on month-to-month arrangements.
The property is at 9423 W Mount Vernon Avenue #9425 in Milwaukee, near the Medical College, I-94, Wauwatosa Village, American Family Field, and downtown Milwaukee. It overlooks Cannon Park and is zoned RS5.
The property is at 9423 W Mount Vernon Avenue #9425 in Milwaukee, near the Medical College, I-94, Wauwatosa Village, American Family Field, and downtown Milwaukee. It overlooks Cannon Park and is zoned RS5.
Key Highlights
- Two‑unit duplex with three bedrooms in each residence
- 2,036 square feet; built in 1954
- Both units have long‑term tenants on month‑to‑month arrangements
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,480
Cap Rate
5.85%
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 5.85%
Second Best
Apartment 5plus
$270.9K
$237.0K – $316.1K
NOI $18,963 @ 7.0% cap · market cap 5.42%
Theoretical Best
Office A
$489.3K
$428.1K – $570.8K
NOI $34,249 @ 7.0% cap · market cap 9.79%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,507
Businesses Nearby
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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
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has an eat-in kitchen, a spacious living area, and bedroom closets described as larger than usual.
Where is this duplex located?
The property is located at 9423 W Mount Vernon Avenue #9425 Milwaukee, WI.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two‑unit duplex with three bedrooms in each residence; 2,036 square feet; built in 1954; Both units have long‑term tenants on month‑to‑month arrangements
