Corner-Lot Duplex With 3-Car
New
For Sale
$349,900
9700 W Lisbon Ave, Milwaukee, WI 53222
Two residences offer varied bedroom layouts, basement space, private rear access, and a fenced outdoor area.
Property Size2,461 SF
Price / SF$142.18
Days on Market3
Property Features for 9700 W Lisbon Ave
General Information
Standard status
Active
Size
2,461 SF
Total Parking Spaces
5
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 2BR/1.5BA
Multifamily Units
2
Amenities
fully fenced backyard
storage shed
private rear entrances
dedicated laundry room
dry bar
Building Details
Year Built
1957
Listing Agency:
Homestead Realty, Inc
Listed By:
Nicole Ehrhart Fenner · License #86567-94
(414) 477-7980
Source:
Nikolicgroup
Added: Sep 8
Last Checked: Sep 9 at 9:40PM
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 Homestead Realty, Inc
Investment Insights
Based on property information with market context.
This 1957 duplex includes two separate residences with distinct layouts. The larger unit has 3 bedrooms, 1.5 bathrooms, a partially finished basement, a dry bar, and plumbing stubbed for a future full bathroom. The second unit contains 2 bedrooms, 1.5 bathrooms, a partially finished basement, and a dedicated laundry room. Both residences have private rear entrances.
The property occupies a corner lot at 9700 W Lisbon Ave in Milwaukee, Wisconsin. Exterior improvements include a fully fenced backyard, storage shed, 3-car garage, and two additional parking slabs. The building provides 2,461 square feet of property space, with added basement and storage areas supporting the two-unit configuration.
The property occupies a corner lot at 9700 W Lisbon Ave in Milwaukee, Wisconsin. Exterior improvements include a fully fenced backyard, storage shed, 3-car garage, and two additional parking slabs. The building provides 2,461 square feet of property space, with added basement and storage areas supporting the two-unit configuration.
Key Highlights
- 2,461‑square‑foot duplex built in 1957
- One unit offers 3 bedrooms, 1.5 bathrooms, dry bar, and plumbing stubbed for a future full bathroom
- Second unit includes 2 bedrooms, 1.5 bathrooms, partially finished basement, and dedicated laundry room
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
$24,755
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
7.07%
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%
$495,100
$495.1K
Cap Rate 7%
$353,643
$353.6K
Cap Rate 9%
$275,056
$275.1K
Market Conditions
NOI Build-Up for 2,461 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
$36.9K $15.00/SF
− Vacancy
−$1.6K −$0.63/SF
EGI
$35.4K $14.37/SF
− OpEx
−$10.6K −$4.31/SF
NOI
$24.8K $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%
$495,100
Cap Rate 7%
$353,643
Cap Rate 9%
$275,056
Alternative Uses
Best Use
Multifamily LT 5
$353.6K
$309.4K – $412.6K
NOI $24,755 @ 7.0% cap · market cap 7.07%
Second Best
Apartment 5plus
$327.5K
$286.5K – $382.0K
NOI $22,922 @ 7.0% cap · market cap 6.55%
Theoretical Best
Office A
$591.4K
$517.5K – $690.0K
NOI $41,398 @ 7.0% cap · market cap 11.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
402
Businesses Nearby
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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
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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 residences offer varied bedroom layouts, basement space, private rear access, and a fenced outdoor area.
Where is this duplex located?
The property is located at 9700 W Lisbon Ave Milwaukee, WI.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 2,461‑square‑foot duplex built in 1957; One unit offers 3 bedrooms, 1.5 bathrooms, dry bar, and plumbing stubbed for a future full bathroom; Second unit includes 2 bedrooms, 1.5 bathrooms, partially finished basement, and dedicated laundry room
