4057 N 17th St Unit 4057A · Milwaukee, WI 53209

$184,900

4 bd · 2.0 ba · 2,133 sqft · MultiFamily · 25 Days on market

Built 1926 Good condition 4,791 sqft lot $87/sqft · 10% above area Est $169k · 10% over ↓ 2% 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 +26.7/30.0
• DSCR +9.1/10.0
• 1% rule +7.2/10.0
• Rent growth +4.7/5.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• ARV discount +3.2/15.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

Classic Milwaukee bungalow duplex in the up-and-coming Rufus King neighborhood bringing in a strong $2,446/month in guaranteed rent! A solid turnkey opportunity for investors or owner-occupants alike. Conveniently located near the freeway and less than 10 minutes from the lakefront, Estabrook Park, and the Oak Leaf Trail, this property offers both accessibility and lifestyle appeal. Both 2BR/1BA units feature beautiful original woodwork and key updates including new upper and common-area windows, updated electrical, new furnaces, refrigerators, stoves, plus washer/dryer in the freshly painted basement. Large 3-car garage with new siding adds extra value and functionality. Great cash flow, c

Key facts

• 4,791 sq ft lot
• 3 garage spots
• Built 1926

Property features AI

Finance

• Other: Property type: Multi-family (2 units)

Exterior

• Parking: Detached 3-car garage (3 garage parking spaces)
• Utilities: Municipal water; Municipal sewer; 2 electric meters; 2 gas meters
• Home design: 1.5-story multi-family building; Information lists year built as 'Other - See Remarks'; Lot size less than 1/2 acre (0.11 acre)
• Construction: Block foundation
• Exterior features: Exterior: Other; Zoned RES

Interior

• Kitchen: Unit 1 and Unit 2 kitchens included (Unit 2 kitchen on upper level); 2 ranges/ovens; 2 refrigerators
• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 2 bedrooms (master on upper level)
• Bathrooms: Unit 1: 1 full bathroom; Unit 2: 1 full bathroom
• Interior features: Full block basement
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 2 × 2.0-bed/1.0-bath units multifamily listed at $185k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $499 ($6k/yr) — positive. Per door: $249/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $182k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.5% 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 (+8.6%/yr); 168 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $2,249/mo this rent would consume 56% of the median local household income ($48k/yr) (locally 3390% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Milwaukee County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $52k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($182k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $182,126 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
10. 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.
11. 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.
12. 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: 1.22% ✓
• Cap rate: 9.53%
• Cash-on-cash: 11.56%
• DSCR: 1.51
• GRM: 6.9

CMA / ARV

• ARV (median comp): $168,741
• List price: $184,900
• Delta: 9.58%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3748 N 17th St	0.35mi	4/2.0	2,161 (+1%)	2mo	$80,000	$37	80
4071 N 12th St Unit 4071A	0.31mi	3/2.0 (-1)	2,045 (-4%)	1mo	$110,000	$54	73
4047 N 19th St #4049	0.12mi	4/2.0	1,815 (-15%)	2mo	$134,900	$74	68
4246 N 21st St	0.42mi	3/2.0 (-1)	2,033 (-5%)	2mo	$194,900	$96	66
3607 N 20th St	0.56mi	4/2.0	2,046 (-4%)	2mo	$115,000	$56	65
3905 N 13th St #3907	0.32mi	4/2.0	1,884 (-12%)	2mo	$144,500	$77	64
4105 N 24th St #4107	0.51mi	4/2.0	1,988 (-7%)	3mo	$180,000	$91	62
4215 N 26th St #4217	0.71mi	4/2.0	2,080 (-2%)	2mo	$190,000	$91	61
4148 N 24th Pl	0.56mi	4/2.0	2,298 (+8%)	2mo	$123,000	$54	60
3615 N 13th St	0.54mi	4/2.0	2,326 (+9%)	1mo	$90,000	$39	59
4045 N 26th St Unit 4045A	0.69mi	4/2.0	1,963 (-8%)	2mo	$66,100	$34	53
2022 W Keefe Ave Unit 2022A	0.64mi	4/2.0	1,914 (-10%)	1mo	$55,000	$29	53

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

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 6.4%
• Equity multiple: 1.27×
• Total profit: $13,733
• Equity at exit: $27,569

10-year hold

• IRR: 19.9%
• Equity multiple: 3.07×
• Total profit: $107,108
• Equity at exit: $15,987

Cash invested: $51,772 (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 53209

• Rents YoY: 8.6%
• Active inventory: 168
• Price-to-rent: 13.7×

Monthly cashflow live

• Estimated rent: $2,249 high
• Mortgage (P&I): −$970
• Tax est. 1.5%: −$231 /mo · $2,774/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$472
• Net cashflow: $499

Break-even live

Break-even rent $1,617

Max offer price $184,900

Occupancy floor 73%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2.0	1	$2,248
Total (2 units)			$2,249

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2116 W Atkinson Ave Unit A Milwaukee, WI	4.0	1.0	1707	$2,000	$1.17	2d	1	0.34mi
3420-22 N Vel R Phillips Ave Milwaukee, WI	3.0	1.0	2756	$1,195	$0.43	44d	1	1.11mi
3420 N Vel R. Phillips Ave Unit 3422 Milwaukee, WI	3.0	1.0	2756	$1,195	$0.43	44d	1	1.11mi
2704 W Concordia Ave Unit Na Milwaukee, WI	5.0	2.0	1856	$2,500	$1.35	24d	1	1.12mi
312 E Townsend St Unit 312 Milwaukee, WI	3.0	1.0	1400	$1,250	$0.89	24d	1	1.46mi

Listing history 13 events

1. 2026-06-16
   statusdays on market $184,900 Pending 25 DOM
2. 2026-06-15
   days on market $184,900 Active 24 DOM
3. 2026-06-13
   days on market $184,900 Active 22 DOM
4. 2026-06-13
   days on market $184,900 Active 21 DOM
5. 2026-06-09
   days on market $184,900 Active 18 DOM
6. 2026-06-08
   days on market $184,900 Active 17 DOM
7. 2026-06-07
   days on market $184,900 Active 16 DOM
8. 2026-06-05
   days on market $184,900 Active 13 DOM
9. 2026-06-03
   days on market $184,900 Active 12 DOM
10. 2026-06-02
    days on market $184,900 Active 11 DOM
11. 2026-06-01
    days on market $184,900 Active 10 DOM
12. 2026-05-31
    days on market $184,900 Active 9 DOM
13. 2026-05-15
    historical $189,000 769-char remark

ⓘ 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: $26,988
• − Mortgage interest: −$10,357
• − Property taxes: −$2,774
• − Insurance: −$924
• − Repairs & maintenance: −$2,159
• − Management: −$2,159
• − Depreciation: −$5,379
• Taxable income: $3,236
• Est. tax owed @ 24.0%: −$777
• After-tax cash flow: $5,210/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 · 1 photo

Good 75/100 Cosmetic rehab

This classic Milwaukee bungalow duplex is in good condition with recent updates and new appliances, making it a solid turnkey investment with strong rental potential.

Value-add opportunities

• Rental Landscaping — Enhances curb appeal and tenant satisfaction
• Both Painting exterior — Improves curb appeal and resale value
• Both Landscaping and curb appeal — Enhances overall property presentation

Renovation cost estimate screening

Value-add ROI direction

• Rental Landscaping — Enhances curb appeal and tenant satisfaction ↑
• Both Painting exterior — Improves curb appeal and resale value ↑
• Both Landscaping and curb appeal — Enhances overall property presentation ↑

ⓘ 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): 45,170
• Household income: $48,486
• Rent vs Own: 56.2% rent · 43.8% own
• Severe rent burden: 3390.0

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 (66%)
• Race & ethnicity: Black 66% White 22% Hispanic / Latino 5% Two or more races 5% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 3% Portuguese 1% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 4% Other Asian/Pacific 1% Russian/Polish/Slavic 1%

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: ▼ -194.98%
• Current HPI: 172.4275
• Rent YoY: ▲ 8.61%
• 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

-2.2% since first listed

4 events — show timeline

• 2026-06-16 Pending — METROMLS
• 2026-05-26 Price Changed $184,900 METROMLS
• 2026-05-22 Listed $189,000 METROMLS
• 2026-05-15 Coming Soon $189,000 METROMLS