1950 S 56th St #1952 · West Allis, WI 53219

$180,000

4 bd · 2.0 ba · 1,122 sqft · MultiFamily · 10 Days on market

Built 1912 3,484 sqft lot Est $246k · 27% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• 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 MLS

Attention investors priced to sell 2/2 duplex. Long term tenants. Extra large parking slab for off street parking. Separate utilities. Close to public transportation.

Key facts

• Off street parking
• Newer roof
• Newer siding

Tags

• NEWER SIDING
• NEWER GUTTERS
• NEWER ROOF
• OFF STREET PARKING

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $180k.

Deal economics

• At list price, monthly cash flow is $790 ($9k/yr) — positive. Per door: $395/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $180k).
• Cap rate 11.6% vs local median 4.3% in West Allis — 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 79/100 on livability (#69 in WI, #1,958 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities F.
• West Allis-West Milwaukee School District (urban): math 17% / reading 26% proficiency, ranked #328 of 342 in WI (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+5.1%/yr); 55 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 44% of the median local income ($70k/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 + 5.1% rent growth), your $50k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 9y ago; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $62k; list at $180k implies a 191% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $180,000

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 1912 — 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. 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: 1.43% ✓
• Cap rate: 11.56%
• Cash-on-cash: 18.82%
• DSCR: 1.84
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $245,718
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1731 S 60th St	0.33mi	3/2.0 (-1)	1,122 (0%)	5mo	$246,000	$219	76
2080 S 61st St	0.36mi	3/2.0 (-1)	1,094 (-2%)	18mo	$240,000	$219	59
1507 S 52nd St #1509	0.46mi	3/2.0 (-1)	1,233 (+10%)	10mo	$273,000	$221	49

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 · 5.09% rent growth · sell at horizon

5-year hold

• IRR: 13.0%
• Equity multiple: 1.53×
• Total profit: $26,734
• Equity at exit: $26,839

10-year hold

• IRR: 23.4%
• Equity multiple: 3.22×
• Total profit: $111,926
• Equity at exit: $15,563

Cash invested: $50,400 (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 53219

• Home prices YoY: -29.8%
• Rents YoY: 5.1%
• Active inventory: 55
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $2,575 medium
• Mortgage (P&I): −$944
• Tax est. 1.5%: −$225 /mo · $2,700/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$541
• Net cashflow: $790

Break-even live

Break-even rent $1,575

Max offer price $180,000

Occupancy floor 64%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,574
Total (2 units)			$2,575

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1301 S 63rd St Uppr -6307 West Allis, WI	3.0	1.0	1150	$1,650	$1.43	24d	1	0.79mi
5832 W Walker St Milwaukee, WI	3.0	1.0	981	$1,300	$1.33	24d	1	0.98mi
1732 S 71st St Unit 1732 West Allis, WI	3.0	1.0	912	$1,795	$1.97	12d	1	0.99mi
2958 S 58th St Milwaukee, WI	4.0	2.0	1086	$2,500	$2.30	2d	1	1.26mi
642 S 66th St Milwaukee, WI	3.0	1.0	1059	$1,770	$1.67	17d	1	1.28mi
638 S 66th St Milwaukee, WI	3.0	1.0	1104	$1,795	$1.63	15d	1	1.29mi
2122 S 77th St Milwaukee, WI	4.0	1.5	1434	$1,895	$1.32	14d	1	1.35mi

Listing history 13 events

1. 2026-01-09
   status Pending
2. 2026-01-06
   price $180,000
3. 2026-01-06
   status Active
4. 2025-08-15
   status Pending
5. 2025-08-15
   historical
6. 2025-08-08
   listed $195,000 Active
7. 2017-10-16
   historical 166-char remark

   Show marketing remark (166 chars)

   Attention investors priced to sell 2/2 duplex. Long term tenants. Extra large parking slab for off street parking. Separate utilities. Close to public transportation.

8. 2017-10-12
   soldstatus $61,900 Sold 166-char remark

   Show marketing remark (166 chars)

   Attention investors priced to sell 2/2 duplex. Long term tenants. Extra large parking slab for off street parking. Separate utilities. Close to public transportation.

9. 2017-09-16
   historical Contingent 166-char remark

   Show marketing remark (166 chars)

   Attention investors priced to sell 2/2 duplex. Long term tenants. Extra large parking slab for off street parking. Separate utilities. Close to public transportation.

10. 2017-09-06
    price $70,000 166-char remark

    Show marketing remark (166 chars)

    Attention investors priced to sell 2/2 duplex. Long term tenants. Extra large parking slab for off street parking. Separate utilities. Close to public transportation.

11. 2017-09-01
    status Active 166-char remark

    Show marketing remark (166 chars)

    Attention investors priced to sell 2/2 duplex. Long term tenants. Extra large parking slab for off street parking. Separate utilities. Close to public transportation.

12. 2017-08-24
    status Pending 166-char remark

    Show marketing remark (166 chars)

    Attention investors priced to sell 2/2 duplex. Long term tenants. Extra large parking slab for off street parking. Separate utilities. Close to public transportation.

13. 2017-08-11
    listed $80,000 Active 166-char remark

    Show marketing remark (166 chars)

    Attention investors priced to sell 2/2 duplex. Long term tenants. Extra large parking slab for off street parking. Separate utilities. Close to public transportation.

ⓘ 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: $30,900
• − Mortgage interest: −$10,083
• − Property taxes: −$2,700
• − Insurance: −$900
• − Repairs & maintenance: −$2,472
• − Management: −$2,472
• − Depreciation: −$5,236
• Taxable income: $7,037
• Est. tax owed @ 24.0%: −$1,689
• After-tax cash flow: $7,795/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: West Allis-West Milwaukee School District
• NCES district ID: 5516260
• Math proficiency: 17% ▼ -16.00%
• Reading proficiency: 26% ▼ -12.00%
• Median HH income: $45,620
• Composite: 18.71/100
• National rank: #8881
• State rank: #328 of 342 in WI

Livability — West Allis

• Score: 79/100
• State rank: #69
• US rank: #1958

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Allis, WI
• County: Milwaukee County · 926,379 people
• City population: 57,365
• Metro: Milwaukee-Waukesha, WI
• Population (ZIP): 34,764
• Household income: $70,388
• Rent vs Own: 37.7% rent · 62.3% own
• Severe rent burden: 902.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 59% Hispanic / Latino 31% Two or more races 16% Black 5% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 22% Puerto Rican 7%
• Common ancestry: Romanian 12% Portuguese 3% Lithuanian 3%
• Foreign-born: 10% · Canada, Philippines, China
• Languages at home: 77% English-only · Spanish 19% Other Asian/Pacific 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: ▼ -118.46%
• Current HPI: 278.8314
• Rent YoY: ▲ 5.09%
• 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

+125.0% since first listed

13 events — show timeline

• 2026-01-09 Pending — METROMLS
• 2026-01-06 Price Changed $180,000 METROMLS
• 2026-01-06 Relisted — METROMLS
• 2025-08-15 Pending — METROMLS
• 2025-08-15 Listing Removed — METROMLS
• 2025-08-08 Listed $195,000 METROMLS
• 2017-10-16 Listing Removed — METROMLS
• 2017-10-12 Sold (MLS) $61,900 METROMLS
• 2017-09-16 Contingent — METROMLS
• 2017-09-06 Price Changed $70,000 METROMLS
• 2017-09-01 Relisted — METROMLS
• 2017-08-24 Pending — METROMLS
• 2017-08-11 Listed $80,000 METROMLS