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Property profile & analytics
OFF-MARKET
Estimated value
$705,000
Specialty properties
1901 Farwell Ave, Milwaukee, WI 53202-1409
Entity Owned
1-yr Hold
Free & Clear
Property ID
US92-1042984
Property profile
Verified
Property type
Specialty properties
Use group
FUNERAL HOME
Year built
1930
Total area
13,518 SF
Lot
0.91 ac (39,561 SF)
Zoning code
RO2
APN
355-0486-100
UPID
US92-1042984
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Thrifty Dumpster & Porta Potty Rental Building Supply
-
Heritage Funeral Homes - Suminski/Weiss Chapel Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$520k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$884k
Blend (final)
Blend
$705k
Owner & transaction history
1901 Erps LLC · 1 yrs held
1901 Erps LLC
since 2025
3 recorded transactions
Zoning & alternative use
RO2 · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$1.1M
+83.9%
Medical building
$1.0M
+68.0%
Commercial (general)
$995,000
+60.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Milwaukee submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Milwaukee submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$520,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
CEMETERY, FUNERAL HOME, MORTUARY (COMMERCIAL)
$620,000
Current use
APARTMENT HOUSE (5+ UNITS)
$1,145,000
Change: +84% · Conversion: Difficult
MEDICAL BUILDING
$1,045,000
Change: +68% · Conversion: Difficult
COMMERCIAL (GENERAL)
$995,000
Change: +60% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$590,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$705k
Range $635k – $776k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$52 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$28,220
Tax year 2022
Assessed value
$1,185,200
Assessed 2022
Previous assessed
$1,185,200
+0.0% YoY
Effective rate
2.38%
On assessed value
Assessed land
$1,184,200
Assessed improvement
$1,000
Land market value
$1,184,200
Improvement market value
$1,000
Total market value
$1,185,200
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Specialty properties
Use group
FUNERAL HOME
Status
Off-Market
Year built
1930
Heating
YES
Cooling
YES
Stories
2
Units
1
Total area
13,518 SF
Lot
0.91 ac (39,561 SF)
Zoning code
RO2
APN
355-0486-100
UPID
US92-1042984
Jurisdiction
MILWAUKEE
Zoning & alternative use
RO2 · Milwaukee, WI
Zoning RO2 · permitted uses
RO2 · Milwaukee, WI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Milwaukee. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
CEMETERY, FUNERAL HOME, MORTUARY (COMMERCIAL) Current
Est. value
$620,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$1.0M
COMMERCIAL (GENERAL)
Est. value
$995,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$590,000
CEMETERY, FUNERAL HOME, MORTUARY (COMMERCIAL) Current
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1930
Heating
YES
Cooling
Yes
Stories
2
Units
1
Lot
0.91 ac
Current owner
From public records · entity-resolved
1901 Erps LLC
Entity
Free & Clear · 1 yrs held
Mailing address
1901 N FARWELL AVE MILWAUKEE
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 6, 2025
—
1901 Erps LLC
Edward James Suminski JR
Quitclaim Deed
related
—
Apr 1, 2024
—
Erps Holdings INC
Edward James Suminski JR
Correction Deed
related
—
Feb 23, 2023
—
Eprs Holdings INC
Edward James Suminski JR
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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