2244 N 55th St #2246 · Milwaukee, WI 53208

$34,000

4 bd · 2.0 ba · 2,248 sqft · MultiFamily · 8 Days on market

Built 1923 4,791 sqft lot

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +5.0/5.0
• 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

Come check out this spacious duplex in a prime location! This duplex is fully occupied; It offers 2 spacious bedrooms in both units, a full basement and a spacious 2 car garage and ample of parking. Located conveniently near shopping and dining establishments!Schedule your tour today!

Key facts

• 4,791 sq ft lot
• Built 1923
• Listed 8 days

Property features AI

Finance

• Other: Lot under 1/2 acre (approx. 0.11 acre)

Exterior

• Utilities: Municipal water; Municipal sewer
• Home design: Two-story duplex; Multi-family property; Zoned RT3
• Construction: Assessor/Public Record year built information
• Exterior features: Other 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

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $34k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $34k).
• Cap rate 67.6% 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 (+10.8%/yr); 92 active listings in the ZIP; 9 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).
• At $2,496/mo this rent would consume 57% of the median local household income ($53k/yr) (locally 1568% 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 $235 of loan paydown is wiped out by about $1k 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 $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y 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 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $34,000

Questions for the listing agent

1. Built in 1923 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 7.34% ✓
• Cap rate: 67.59%
• Cash-on-cash: 218.93%
• DSCR: 10.74
• GRM: 1.1

CMA / ARV

• ARV (on-the-fly): $305,728
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2164 N 56th St	0.13mi	4/2.0	2,238 (-0%)	0mo	$350,000	$156	93
2160 N 52nd St	0.21mi	4/2.0	2,261 (+1%)	0mo	$399,900	$177	89
2400 N 56th St #2402	0.16mi	4/2.0	2,291 (+2%)	2mo	$278,000	$121	88
2403 N 56th St	0.18mi	4/2.0	2,200 (-2%)	1mo	$339,500	$154	88
1913 N 57th St #1915	0.35mi	4/2.5	2,187 (-3%)	1mo	$265,000	$121	76
2576 N 51st St #2578	0.45mi	4/2.0	2,178 (-3%)	1mo	$149,900	$69	73
2642 N 51st St #2644	0.52mi	4/2.0	2,294 (+2%)	1mo	$122,500	$53	72
2808 N 52nd St #2810	0.69mi	4/2.0	2,292 (+2%)	1mo	$153,000	$67	63
1620 N Hawley Rd	0.57mi	4/2.0	2,378 (+6%)	1mo	$324,000	$136	63
1527 N 49th St #1529	0.74mi	4/2.0	2,134 (-5%)	2mo	$406,500	$190	56
2131 N 65th St #2133	0.64mi	4/2.0	2,445 (+9%)	1mo	$415,000	$170	54
2834 N 54th St Unit 2834A	0.71mi	4/2.0	2,080 (-8%)	0mo	$175,000	$84	54

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: —
• Equity multiple: 13.43×
• Total profit: $118,341
• Equity at exit: $5,070

10-year hold

• IRR: —
• Equity multiple: 33.11×
• Total profit: $305,683
• Equity at exit: $2,940

Cash invested: $9,520 (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 53208

• Home prices YoY: -27.1%
• Rents YoY: 10.8%
• Active inventory: 92
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $2,496 high
• Mortgage (P&I): −$178
• Tax est. 1.5%: −$42 /mo · $510/yr
• Insurance: −$14
• HOA: −$0
• Vacancy / Maint / Mgmt: −$524
• Net cashflow: $1,737

Break-even live

Break-even rent $297

Max offer price $34,000

Occupancy floor 25%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,496
Total (2 units)			$2,496

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: $8,500
• Closing costs: $1,020
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2137 N 47th St Milwaukee, WI	5.0	2.0	1723	$1,850	$1.07	14d	1	0.49mi
2713 N 44th St Milwaukee, WI	3.0	1.0	1450	$1,350	$0.93	43d	1	0.87mi
2976 N 49th St Milwaukee, WI	3.0	1.0	1700	$1,300	$0.76	17d	1	0.99mi
6100 W State St Wauwatosa, WI	1.0–3.0	1.0–2.0	1160	$3,017	$2.60	1d	20	1.13mi
3123 N 42nd St Milwaukee, WI	4.0	1.0	1500	$1,700	$1.13	23d	1	1.36mi
7400 W State St Milwaukee, WI	1.0–3.0	1.0–2.0	1106	$3,995	$3.61	2d	8	1.38mi
7474 Harwood Ave Wauwatosa, WI	3.0	1.0–3.0	999	$4,780	$4.78	3d	73	1.39mi
4802 W Wells St Unit 4802-1 Milwaukee, WI	3.0	2.0	1700	$1,799	$1.06	43d	1	1.43mi
1639 N 33rd St Milwaukee, WI	3.0	1.0	1424	$950	$0.67	23d	1	1.44mi

Listing history 8 events

1. 2026-06-18
   days on market $34,000 Active 8 DOM
2. 2026-06-17
   remarks 249-char remark
3. 2026-06-17
   days on market $34,000 Active 7 DOM
4. 2026-06-16
   days on market $34,000 Active 6 DOM
5. 2026-06-15
   days on market $34,000 Active 5 DOM
6. 2026-06-13
   days on market $34,000 Active 3 DOM
7. 2026-06-13
   remarks 227-char remark
8. 2026-06-13
   listed $34,000 Active 2 DOM

ⓘ 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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,952
• − Mortgage interest: −$1,905
• − Property taxes: −$510
• − Insurance: −$170
• − Repairs & maintenance: −$2,396
• − Management: −$2,396
• − Depreciation: −$989
• Taxable income: $21,586
• Est. tax owed @ 24.0%: −$5,181
• After-tax cash flow: $15,662/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): 27,201
• Household income: $52,690
• Rent vs Own: 60.8% rent · 39.2% own
• Severe rent burden: 1568.0

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 0.69)
• Race & ethnicity: Black 41% White 36% Hispanic / Latino 10% Asian 9% Two or more races 6%
• Hispanic origin (detail): Mexican 7% Puerto Rican 2%
• Common ancestry: Romanian 5% Italian 2% Lithuanian 2%
• Foreign-born: 9% · Canada, Philippines
• Languages at home: 84% English-only · Other Asian/Pacific 6% Spanish 6% French/Haitian/Cajun 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: ▼ -123.92%
• Current HPI: 333.7268
• Rent YoY: ▲ 10.78%
• 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

-83.8% since first listed

3 events — show timeline

• 2026-06-10 Listed $34,000 METROMLS
• 2024-04-01 Listing Removed — METROMLS
• 2023-01-31 Listed $210,000 METROMLS