3533 W Clarke St · Milwaukee, WI 53210

$100,000

5 bd · 2.0 ba · 1,846 sqft · MultiFamily public records · 12 Days on market

Built 1901 2,613 sqft lot Est $105k · at est.

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +9.7/15.0
• Livability +4.0/5.0
• Rent growth +3.5/5.0
• 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: 2 units. confirmed

Listing remarks

Great opportunity for investors! This Three/Three Duplex offers strong rental potential and is being sold AS-IS.

Key facts

• 2,613 sq ft lot
• Garage
• Built 1901

Property features AI

Finance

• Financial info: Two-unit building (duplex)

Exterior

• Parking: Detached 1-car garage (1 garage parking space total)
• Utilities: Municipal water; Municipal sewer; Two electric meters; Two gas meters
• Home design: 2-story duplex (multi-family); Zoning: RT3
• Construction: Property listed as multi-family; Land parcel under 1/2 acre (approx. 0.06 acre)
• Exterior features: Vinyl exterior

Interior

• Kitchen: Unit 2 kitchen (upper level, approx. 11 x 9)
• Bedrooms: Unit 1: 3 bedrooms; Unit 2: 3 bedrooms (primary and all bedrooms on upper level; primary approx. 11 x 10, second bedroom approx. 11 x 11)
• Bathrooms: Unit 1: 1 full bath; Unit 2: 1 full bath
• Interior features: Partial basement

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $100k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $519/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Cap rate 18.7% 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 (+3.8%/yr); 144 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $2,200/mo this rent would consume 55% of the median local household income ($48k/yr) (locally 1730% 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 $691 of loan paydown is wiped out by about $3k 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 + 3.8% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $49k; list at $100k implies a 104% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $100,000

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 1901 — 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. 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.
8. 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.
9. 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: 2.20% ✓
• Cap rate: 18.75%
• Cash-on-cash: 44.49%
• DSCR: 2.98
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $105,222
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2519 N 35th St	0.09mi	6/2.0 (+1)	1,811 (-2%)	2mo	$110	—	86
2616 N 38th St	0.12mi	4/2.0 (-1)	1,887 (+2%)	2mo	$117,500	$62	84
2760 N 35th St Unit 2760A	0.24mi	5/2.0	1,897 (+3%)	2mo	$107,500	$57	83
2400 N 35th St #2402	0.24mi	5/2.0	1,994 (+8%)	1mo	$65,000	$33	75
2873 N 34th St #2875	0.39mi	4/2.0 (-1)	1,888 (+2%)	1mo	$108,500	$57	72
2162 N 35th St	0.49mi	5/2.0	1,750 (-5%)	2mo	$8,500	$5	67
2137 N 31st St	0.57mi	5/2.0	1,919 (+4%)	1mo	$138,500	$72	66
2847 N 26th St	0.70mi	4/2.0 (-1)	1,863 (+1%)	2mo	$70,000	$38	59
2149 N 41st St	0.61mi	4/2.0 (-1)	1,931 (+5%)	1mo	$33,000	$17	59
2972 N 28th St	0.72mi	4/2.0 (-1)	1,757 (-5%)	0mo	$141,806	$81	53
3068 N 34th St Unit 3068A	0.63mi	5/2.0	2,087 (+13%)	0mo	$110,000	$53	48
3148 N 39th St #3150	0.74mi	4/2.0 (-1)	2,044 (+11%)	2mo	$128,888	$63	41

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 · 3.82% rent growth · sell at horizon

5-year hold

• IRR: 42.4%
• Equity multiple: 2.85×
• Total profit: $51,775
• Equity at exit: $14,910

10-year hold

• IRR: 48.9%
• Equity multiple: 5.93×
• Total profit: $138,004
• Equity at exit: $8,646

Cash invested: $28,000 (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 53210

• Home prices YoY: -21.5%
• Rents YoY: 3.8%
• Active inventory: 144
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $2,200 high
• Mortgage (P&I): −$524
• Tax from tax record: −$134 /mo · $1,607/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$462
• Net cashflow: $1,038

Break-even live

Break-even rent $886

Max offer price $100,000

Occupancy floor 48%

Sensitivity live

Price	-10% $1,095	-5% $1,066	+0% $1,038	+5% $1,010	+10% $981
Rent	-10% $864	-5% $951	+0% $1,038	+5% $1,125	+10% $1,212
Rate	-1.0pp $1,088	-0.5pp $1,063	base $1,038	+0.5pp $1,012	+1.0pp $986

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,200
Total (2 units)			$2,200

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2432 N 28th St Milwaukee, WI	5.0	1.5	1876	$1,600	$0.85	45d	1	0.52mi
3123 N 42nd St Milwaukee, WI	4.0	1.0	1500	$1,700	$1.13	25d	1	0.78mi
2308 W Clarke St Milwaukee, WI	4.0	2.0	1545	$1,750	$1.13	25d	1	0.83mi
2137 N 47th St Milwaukee, WI	5.0	2.0	1723	$1,850	$1.07	15d	1	0.93mi
2704 W Concordia Ave Unit Na Milwaukee, WI	5.0	2.0	1856	$2,500	$1.35	25d	1	1.06mi

Listing history 9 events

1. 2026-06-21
   days on market $100,000 Active 12 DOM
2. 2026-06-18
   days on market $100,000 Active 9 DOM
3. 2026-06-17
   days on market $100,000 Active 8 DOM
4. 2026-06-16
   days on market $100,000 Active 7 DOM
5. 2026-06-15
   days on market $100,000 Active 6 DOM
6. 2026-06-13
   days on market $100,000 Active 4 DOM
7. 2026-06-13
   days on market $100,000 Active 3 DOM
8. 2026-06-10
   remarks 112-char remark
9. 2026-06-10
   listed $100,000 Active 1 DOM

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

Tax reassessment forecast WI · Partial reset (capped growth)

• Current annual tax: $1,607 · $134/mo
• Projected year-2 tax: $1,729 · $144/mo
• Expected delta: +$121/yr (+$10/mo · 7.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,400
• − Mortgage interest: −$5,602
• − Property taxes: −$1,607
• − Insurance: −$500
• − Repairs & maintenance: −$2,112
• − Management: −$2,112
• − Depreciation: −$2,909
• Taxable income: $11,558
• Est. tax owed @ 24.0%: −$2,774
• After-tax cash flow: $9,682/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): 23,922
• Household income: $48,217
• Rent vs Own: 60.4% rent · 39.6% own
• Severe rent burden: 1730.0

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 (71%)
• Race & ethnicity: Black 71% White 17% Hispanic / Latino 6% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Romanian 2% Portuguese 1% Italian 1%
• Foreign-born: 3% · Canada, Philippines
• Languages at home: 94% English-only · Spanish 3% 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: ▼ -76.77%
• Current HPI: 280.0133
• Rent YoY: ▲ 3.82%
• 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

+100.4% since first listed

3 events — show timeline

• 2026-06-09 Listed $100,000 METROMLS
• 2005-01-21 Sold (Public Records) $48,900 Public Records
• 2000-03-10 Sold (Public Records) $49,900 Public Records

Property tax history

-4.4%/yr

Latest (2024): $1,607 · +28.4% YoY. Source: county tax records.