3461 N 14th St #3463 · Milwaukee, WI 53206

$199,900

4 bd · 2.0 ba · 2,440 sqft · MultiFamily · 72 Days on market

Built 1912 Good condition 7,405 sqft lot $82/sqft · 113% above area ↓ 9% since listing

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +19.4/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• 1% rule +5.2/10.0
• Rent growth +4.6/5.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Schools +1.2/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Expired Listing. ..

Key facts

• 7,405 sq ft lot
• Built 1912
• Listed 72 days

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $200k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $223 ($3k/yr) — positive. Per door: $112/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $188k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 5.1% in Milwaukee — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 81/100 on livability (#55 in WI, #1,534 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment D+, schools F, crime F.
• Milwaukee School District (urban): math 10% / reading 18% proficiency, ranked #337 of 342 in WI (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 77% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+8.3%/yr); 150 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $2,031/mo this rent would consume 83% of the median local household income ($29k/yr) (locally 2061% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Milwaukee County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 8.0% rent growth), your $56k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $187,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.02% ✓
• Cap rate: 7.63%
• Cash-on-cash: 4.78%
• DSCR: 1.21
• GRM: 8.2

CMA / ARV

• ARV (median comp): $94,051
• List price: $199,900
• Delta: 112.54%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3419 N 15th St #3421	0.09mi	4/2.0	2,416 (-1%)	6mo	$201,500	$83	90
3615 N 13th St	0.18mi	4/2.0	2,326 (-5%)	1mo	$90,000	$39	83
3266 N 17th St	0.27mi	4/2.0	2,322 (-5%)	2mo	$185,000	$80	78
3381 N 21st St #3383	0.51mi	4/2.0	2,364 (-3%)	2mo	$71,000	$30	70
3701 N 14th St #3703	0.23mi	4/2.0	2,174 (-11%)	4mo	$90,000	$41	68
3748 N 17th St	0.34mi	4/2.0	2,161 (-11%)	2mo	$80,000	$37	64
3607 N 19th St #3609	0.35mi	5/2.0 (+1)	2,270 (-7%)	6mo	$213,000	$94	63
3258 N 12th St #3260	0.28mi	4/2.0	2,086 (-14%)	3mo	$51,000	$24	60
3382 N 23rd St #3384	0.61mi	4/2.0	2,266 (-7%)	0mo	$152,435	$67	59
608 W Burleigh St #610	0.66mi	4/2.0	2,174 (-11%)	3mo	$112,000	$52	48
3906 N 6th St #3908	0.73mi	4/2.0	2,223 (-9%)	4mo	$134,900	$61	48
3202 N 24th St #3204	0.73mi	4/2.0	2,169 (-11%)	2mo	$165,000	$76	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 29.7%
• Equity multiple: 3.39×
• Total profit: $133,839
• Equity at exit: $180,086

10-year hold

• IRR: 27.4%
• Equity multiple: 8.32×
• Total profit: $409,616
• Equity at exit: $388,362

Cash invested: $55,972 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 73 Landlord-Friendly
• State Wisconsin: 73 Landlord-Friendly · R+2
• County: — inherits STATE
• City: — inherits STATE

5-day notice; preempted; Madison / Milwaukee have some local enforcement.

Methodology + full state rankings →

ZIP-level market 53206

• Rents YoY: 8.3%
• Active inventory: 150
• Price-to-rent: 16.4×

Monthly cashflow live

• Estimated rent: $2,031 high
• Mortgage (P&I): −$1,048
• Tax est. 1.5%: −$250 /mo · $2,998/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$427
• Net cashflow: $223

Break-even live

Break-even rent $1,749

Max offer price $199,900

Occupancy floor 84%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,030
Total (2 units)			$2,031

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3420-22 N Vel R Phillips Ave Milwaukee, WI	3.0	1.0	2756	$1,195	$0.43	43d	1	0.71mi
3420 N Vel R. Phillips Ave Unit 3422 Milwaukee, WI	3.0	1.0	2756	$1,195	$0.43	43d	1	0.71mi
2116 W Atkinson Ave Unit A Milwaukee, WI	4.0	1.0	1707	$2,000	$1.17	1d	1	0.89mi
2704 W Concordia Ave Unit Na Milwaukee, WI	5.0	2.0	1856	$2,500	$1.35	23d	1	0.94mi
3042 N Palmer St #5 Milwaukee, WI	3.0	1.0	1718	$1,050	$0.61	23d	1	1.12mi
2634 N Doctor M.L.K. Jr Dr Milwaukee, WI	5.0	2.5	2512	$3,700	$1.47	43d	1	1.26mi

Listing history 19 events

1. 2026-06-18
   days on market $199,900 Active 72 DOM
2. 2026-06-17
   days on market $199,900 Active 71 DOM
3. 2026-06-16
   days on market $199,900 Active 70 DOM
4. 2026-06-15
   days on market $199,900 Active 69 DOM
5. 2026-06-13
   days on market $199,900 Active 67 DOM
6. 2026-06-13
   days on market $199,900 Active 66 DOM
7. 2026-06-09
   days on market $199,900 Active 63 DOM
8. 2026-06-08
   days on market $199,900 Active 62 DOM
9. 2026-06-07
   days on market $199,900 Active 61 DOM
10. 2026-06-05
    days on market $199,900 Active 58 DOM
11. 2026-06-03
    days on market $199,900 Active 57 DOM
12. 2026-06-02
    days on market $199,900 Active 56 DOM
13. 2026-06-01
    days on market $199,900 Active 55 DOM
14. 2026-05-31
    days on market $199,900 Active 54 DOM
15. 2026-04-07
    historical 19-char remark

    Show marketing remark (488 chars)

    Fully RENOVATED duplex featuring a 2-bedroom upper with additional room and 1 full bath plus a 2-bedroom, 1-bath lower unit. This gem is an ideal opportunity for investors or owner-occupants looking to offset their mortgage. Both units are currently tenant-occupied on month-to-month leases and tenants would love to stay - offering immediate rental income from day one. Turn-key condition makes this a worry-free purchase. Priced to Sell. MOTIVATED SELLER!!! Schedule your tour today!!

16. 2026-04-07
    listed $199,900 Active 488-char remark

    Show marketing remark (488 chars)

    Fully RENOVATED duplex featuring a 2-bedroom upper with additional room and 1 full bath plus a 2-bedroom, 1-bath lower unit. This gem is an ideal opportunity for investors or owner-occupants looking to offset their mortgage. Both units are currently tenant-occupied on month-to-month leases and tenants would love to stay - offering immediate rental income from day one. Turn-key condition makes this a worry-free purchase. Priced to Sell. MOTIVATED SELLER!!! Schedule your tour today!!

17. 2026-03-25
    price $199,900 19-char remark

    Show marketing remark (19 chars)

    Expired Listing. ..

18. 2026-02-17
    price $209,900 19-char remark

    Show marketing remark (19 chars)

    Expired Listing. ..

19. 2026-01-30
    listed $219,900 Active 19-char remark

    Show marketing remark (19 chars)

    Expired Listing. ..

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,372
• − Mortgage interest: −$11,198
• − Property taxes: −$2,998
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,950
• − Management: −$1,950
• − Depreciation: −$5,815
• Taxable loss: −$538
• Est. tax savings @ 24.0%: +$129
• After-tax cash flow: $2,806/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This fully renovated duplex is in excellent condition, with both units currently tenant-occupied. Immediate rental income is available, making it a worry-free investment opportunity.

Value-add opportunities

• Both Paint exterior trim — Enhances curb appeal and value
• Both Clean gutters — Improves drainage and overall appearance

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior trim — Enhances curb appeal and value ↑
• Both Clean gutters — Improves drainage and overall appearance ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Milwaukee School District
• NCES district ID: 5509600
• Math proficiency: 10% ▼ -5.00%
• Reading proficiency: 18% ▬ 0.00%
• Median HH income: $36,339
• Composite: 11.61/100
• National rank: #9696
• State rank: #337 of 342 in WI

Livability — Milwaukee

• Score: 81/100
• State rank: #55
• US rank: #1534

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime F Employment D+ Housing A+ Health & safety A+ User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Milwaukee, WI
• County: Milwaukee County · 926,379 people
• City population: 573,768
• Metro: Milwaukee-Waukesha, WI
• Population (ZIP): 19,887
• Household income: $29,336
• Rent vs Own: 67.8% rent · 32.2% own
• Severe rent burden: 2061.0

Population outlook (Milwaukee County) Hauer SSP2

• Today (2025): 995,758 people
• By 2030: 1,009,124 · +1.3%
• By 2040: 1,028,128 · +3.3%
• By 2050: 1,040,066 · +4.4%
• By 2075: 1,057,849 · +6.2%
• By 2100: 1,039,774 · +4.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (91%)
• Race & ethnicity: Black 91% Two or more races 3% White 3% Hispanic / Latino 3%
• Common ancestry: Norwegian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Milwaukee

• 2024 margin: Solid D (+38.5) · D 68.3% · R 29.8% · Other 1.8%
• 2008→2024 swing: +2.7pp toward D · 2008: 35.9pp · 2024: 38.5pp
• All cycles: 2024: D+38.5 2020: D+39.9 2016: D+37.5 2012: D+34.6 2008: D+35.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 133.03%
• Current HPI: 397.7151
• Rent YoY: ▲ 8.28%
• Metro: Milwaukee-Waukesha, WI
• State GDP YoY: ▲ 2.10%
• F500 in state: 20

Industry mix (Fortune 500 HQ in WI)

Industry	F500 HQs	Revenue
▸Industrial Machinery	4	$23B
▸Industrial Technology	2	$36B
▸Insurance	1	$36B
▸Professional Services	1	$19B
▸Utilities	1	$9B
▸Consumer Goods	1	$3B

Price history

-9.1% since first listed

5 events — show timeline

• 2026-04-07 Listing Removed — METROMLS
• 2026-04-07 Listed $199,900 METROMLS
• 2026-03-25 Price Changed $199,900 METROMLS
• 2026-02-17 Price Changed $209,900 METROMLS
• 2026-01-30 Listed $219,900 METROMLS