5916 W Dixon Ave #5918 · Milwaukee, WI 53214

$181,400

4 bd · 2.0 ba · 1,612 sqft · MultiFamily · 29 Days on market

Built 1927 3,484 sqft lot Est $276k · 34% under

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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 +23.1/30.0
• ARV discount +15.0/15.0
• DSCR +7.4/10.0
• 1% rule +6.0/10.0
• Rent growth +4.6/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Large duplex located on a dead end street w/ virtually no thru traffic. City of Milw. owned/maintained side driveway can be used for parking by owner/tenants per present owner. Lower available immediately, upper tenant on M-T-M lease. Separate entrances & utilities. (2) 100amp electrical serv. Oven/range & frig optional in both units. LR, DR, KIT, 2 BR's & BA in each unit. Full basement.

Key facts

• 3,484 sq ft lot
• Built 1927
• Listed 29 days

Property features AI

Finance

• Financial info: Less than 1/2 acre lot (approx. 0.08 acre)

Exterior

• Utilities: Municipal water; Municipal sewer; No gas meter
• Home design: 2-story duplex; Multi-family property; Zoned RT3
• Construction: Property records list year built (assessor/public record)
• Exterior features: Brick/stone exterior; Brick exterior

Interior

• Kitchen: Unit 2 kitchen located on lower level (approx. 10 x 10)
• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 2 bedrooms (master on lower level, approx. 10 x 10)
• Bathrooms: Unit 1: 1 full bathroom; Unit 2: 1 full bathroom
• Interior features: Full basement

🏷️ Possibly a rental listed for sale. The $181,400 price doesn't fit this home's estimated sale value (~$275,652) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $181k.

Deal economics

• At list price, monthly cash flow is $324 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $181k).
• Recommended offer: $179k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.4% 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); 55 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• This rent runs 39% of the median local income ($61k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 $51k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 14y ago 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 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $178,679 (1.5% below list)

Questions for the listing agent

1. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.10% ✓
• Cap rate: 8.44%
• Cash-on-cash: 7.65%
• DSCR: 1.34
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $275,652
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
230 S 61st St	0.10mi	5/2.0 (+1)	1,554 (-4%)	12mo	$230,000	$148	74
5915 W Park Hill Ave	0.22mi	4/2.0	1,807 (+12%)	3mo	$246,500	$136	67
212 N 60th St	0.26mi	4/2.0	1,816 (+13%)	1mo	$340,000	$187	66
625 S 61st St	0.32mi	4/2.0	1,510 (-6%)	13mo	$293,500	$194	64
309 N 61st St	0.32mi	4/2.0	1,496 (-7%)	14mo	$330,000	$221	61
1021 S 57th St #1023	0.66mi	3/2.0 (-1)	1,659 (+3%)	1mo	$253,000	$153	58
316 S 71st St	0.69mi	3/2.0 (-1)	1,678 (+4%)	2mo	$260,000	$155	54
401 S 69th St	0.61mi	4/2.0	1,553 (-4%)	15mo	$287,000	$185	53
653 S 65th St	0.50mi	3/2.0 (-1)	1,428 (-11%)	8mo	$225,000	$158	46
552 N 62nd St	0.55mi	4/2.0	1,823 (+13%)	10mo	$312,000	$171	44
428 S 70th St	0.65mi	4/2.0	1,812 (+12%)	14mo	$262,000	$145	38
6621 W Saint Paul Ave	0.55mi	5/2.0 (+1)	1,824 (+13%)	15mo	$330,000	$181	34

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: 0.9%
• Equity multiple: 1.04×
• Total profit: $1,817
• Equity at exit: $27,047

10-year hold

• IRR: 15.0%
• Equity multiple: 2.50×
• Total profit: $76,298
• Equity at exit: $15,684

Cash invested: $50,792 (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 53214

• Home prices YoY: -28.9%
• Rents YoY: 8.3%
• Active inventory: 55
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,997 high
• Mortgage (P&I): −$951
• Tax est. 1.5%: −$227 /mo · $2,721/yr
• Insurance: −$76
• HOA: −$0
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $324

Break-even live

Break-even rent $1,587

Max offer price $181,400

Occupancy floor 79%

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: $45,350
• Closing costs: $5,442
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
638 S 66th St Milwaukee, WI	3.0	1.0	1104	$1,795	$1.63	14d	1	0.51mi
642 S 66th St Milwaukee, WI	3.0	1.0	1059	$1,770	$1.67	17d	1	0.52mi
1301 S 63rd St Uppr -6307 West Allis, WI	3.0	1.0	1150	$1,650	$1.43	24d	1	0.84mi
4802 W Wells St Unit 4802-1 Milwaukee, WI	3.0	2.0	1700	$1,799	$1.06	44d	1	0.95mi
6100 W State St Wauwatosa, WI	1.0–3.0	1.0–2.0	1160	$3,017	$2.60	2d	20	0.99mi
3520 W Mount Vernon Ave Unit 3520 Milwaukee, WI	4.0	1.0	1279	$1,450	$1.13	2d	1	1.47mi

Listing history 17 events

1. 2026-06-18
   days on market $181,400 Active 29 DOM
2. 2026-06-17
   days on market $181,400 Active 28 DOM
3. 2026-06-16
   days on market $181,400 Active 27 DOM
4. 2026-06-15
   days on market $181,400 Active 26 DOM
5. 2026-06-13
   days on market $181,400 Active 24 DOM
6. 2026-06-13
   days on market $181,400 Active 23 DOM
7. 2026-06-09
   days on market $181,400 Active 20 DOM
8. 2026-06-08
   days on market $181,400 Active 19 DOM
9. 2026-06-07
   days on market $181,400 Active 18 DOM
10. 2026-06-05
    days on market $181,400 Active 15 DOM
11. 2026-06-03
    days on market $181,400 Active 14 DOM
12. 2026-06-02
    days on market $181,400 Active 13 DOM
13. 2026-06-01
    days on market $181,400 Active 12 DOM
14. 2026-05-31
    days on market $181,400 Active 11 DOM
15. 2026-05-20
    listed $181,400 Active
16. 2012-01-21
    listed $149,900 408-char remark

    Show marketing remark (408 chars)

    Large duplex located on a dead end street w/ virtually no thru traffic. City of Milw. owned/maintained side driveway can be used for parking by owner/tenants per present owner. Lower available immediately, upper tenant on M-T-M lease. Separate entrances & utilities. (2) 100amp electrical serv. Oven/range & frig optional in both units. LR, DR, KIT, 2 BR's & BA in each unit. Full basement.

17. 2012-01-21
    historical 408-char remark

    Show marketing remark (408 chars)

    Large duplex located on a dead end street w/ virtually no thru traffic. City of Milw. owned/maintained side driveway can be used for parking by owner/tenants per present owner. Lower available immediately, upper tenant on M-T-M lease. Separate entrances & utilities. (2) 100amp electrical serv. Oven/range & frig optional in both units. LR, DR, KIT, 2 BR's & BA in each unit. Full basement.

ⓘ 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 ≥99°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,962
• − Mortgage interest: −$10,161
• − Property taxes: −$2,721
• − Insurance: −$907
• − Repairs & maintenance: −$1,917
• − Management: −$1,917
• − Depreciation: −$5,277
• Taxable income: $1,062
• Est. tax owed @ 24.0%: −$255
• After-tax cash flow: $3,632/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.

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): 34,480
• Household income: $60,962
• Rent vs Own: 45.1% rent · 54.9% own
• Severe rent burden: 1377.0

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 White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 18% Two or more races 12% Black 7% Asian 3%
• Hispanic origin (detail): Mexican 12% Puerto Rican 4%
• Common ancestry: Romanian 11% Lithuanian 3% Portuguese 2%
• Foreign-born: 7% · Canada, China, Philippines
• Languages at home: 86% English-only · Spanish 10% 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: ▼ -112.31%
• Current HPI: 276.0476
• Rent YoY: ▲ 8.30%
• 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

+21.0% since first listed

3 events — show timeline

• 2026-05-20 Listed $181,400 METROMLS
• 2012-01-21 Listing Removed — METROMLS
• 2012-01-21 Listed $149,900 METROMLS