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$325,000

For Sale - Active
1026 N 23rd St Unit 1028, Milwaukee, WI 53233
8 Beds
0 Baths
3,500 Square Feet
0.00 Acres Lot
Built in 1910
For Sale - Active
Units n/a
Checked: 14 hours ago
Updated: May 22, 2025 at 08:28AM

Investment Summary


Monthly Cash Flow
-$690
Cap Rate
3.6%
Cash-on-Cash Return
-11.1%
Debt Coverage Ratio
0.59
Internal Rate of Return (5 years)
-6.7%

Property Description


0.00 Acres Lot
Built in 1910
For Sale - Active
Units n/a

Investor's dream! This well-maintained super duplex in Milwaukee is currently configured as three rental income units, delivering immediate cash flow from day one. A spacious layout features generous living areas and private entrances for each unit, ensuring tenant comfort and privacy.It also includes a versatile fourth suite--perfect for entertaining guests, a home office, or future expansion--that adds even more flexibility to the property. With strong cash flow potential and multiple income streams, this property is a rare find. Whether you're expanding your portfolio or starting out, seize this opportunity to own a high-yield, multi-unit investment in Milwaukee's high-demand rental market!

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Location


Property Details


Parking

  • Description: Detached Garage
  • Details: Detached
  • Garage Spaces: 4
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 8

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 0.0

Interior Features

  • # of Rooms: 14
  • # of Stories: 2
  • Basement: Yes
  • Basement Description: Full

Exterior Features

  • Exterior Walls Materials: Siding (Alum/Vinyl)

Land Information

  • Land Use: Residential Income
  • Land Use Subtype: Duplex

Lot Information

  • Parcel ID: 3891115000
  • Lot Size: 0 sqft

Property Information

  • Property Type: Multi Family
  • Year Built: 1910

Tax Information

  • Annual Tax: $3,200

Utilities

  • Water & Sewer: Public

Location

  • County: Milwaukee

Listing Details


Listed by:
Rachel Greer
EXP Realty, LLC MKE
(262) 307-1440

Source:
Wisconsin Real Estate Exchange
MLS#: 803798823542
Wisconsin Real Estate Exchange

Investment Summary


Monthly Cash Flow
-$690
Cap Rate
3.6%
Cash-on-Cash Return
-11.1%
Debt Coverage Ratio
0.59
Internal Rate of Return (5 years)
-6.7%

Purchase Details

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Purchase price:
$325,000
Amount financed:
-$260,000
Down payment:
$65,000
Closing costs:
$9,750
Rehab costs:
$0
Initial cash invested:
$74,750
Square feet:
3,500
Cost per square foot:
$93
Monthly rent per square foot:
$0.51

Financing Details

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Loan amount:
$260,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,665
Property tax:
$267
Insurance:
$126
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,058

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,800 $21,600
Vacancy loss: (6%)
6% -$108 -$1,296
Operating income:
$1,692 $20,304

Operating Expenses


% Rent Monthly Yearly
Property taxes: (15%)
15%-$267-$3,200
Insurance: (7%)
7%-$126-$1,512
Property management: (8%)
8%-$144-$1,728
Repairs & maintenance: (5%)
5%-$90-$1,080
Capital expenditures: (5%)
5%-$90-$1,080
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (40%)
40%-$717-$8,600

Cash Flow


Monthly Yearly
Net operating income:
$975 $11,700
Mortgage payments:
-$1,665 -$19,980
Cash flow:
$690 $8,280