3293 N 45th St Unit 3293A · Milwaukee, WI 53216

$179,900

4 bd · 2.0 ba · 1,792 sqft · MultiFamily · 71 Days on market

Built 1950 Good condition 3,920 sqft lot $100/sqft · at area comps Est $174k · at est. ↓ 10% since listing

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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 +26.2/30.0
• DSCR +8.9/10.0
• 1% rule +7.0/10.0
• ARV discount +6.0/15.0
• Appreciation +5.7/10.0
• Rent growth +4.3/5.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Schools +1.2/10.0

Multi-family units

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

Listing remarks MLS

2/2 duplex fully rented duplex, in popular ''St. Joes'' Area. This Duplex has garage parking with a nice sized yard. New roof, windows, siding, trim and plumbing fixtures. Separate utilities. This is a maintenance free easy to run property. Both units occupied with long term residents.

Key facts

• New siding
• Nice sized yard
• Garage parking

Tags

• GARAGE PARKING
• NICE SIZED YARD
• NEW ROOF
• NEW WINDOWS
• NEW SIDING
• NEW TRIM

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $458 ($6k/yr) — positive. Per door: $229/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $169k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.4% 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 (+7.0%/yr); 126 active listings in the ZIP; 15 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 $2,154/mo this rent would consume 55% of the median local household income ($47k/yr) (locally 2202% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $4k of equity ($1k loan paydown + $2k appreciation (1.3% local appreciation)).
• Milwaukee County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (1.3% appreciation + 7.0% rent growth), your $50k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($169k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $169,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.20% ✓
• Cap rate: 9.35%
• Cash-on-cash: 10.92%
• DSCR: 1.49
• GRM: 7.0

CMA / ARV

• ARV (median comp): $174,251
• List price: $179,900
• Delta: 3.24%
• 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
3373 N 47th St #3375	0.18mi	4/2.0	1,840 (+3%)	4mo	$192,000	$104	84
3287 N 49th St #3289	0.25mi	4/2.0	1,710 (-5%)	3mo	$181,000	$106	78
3259 N 35th St	0.64mi	4/2.0	1,773 (-1%)	3mo	$185,000	$104	66
3367 N 36th St	0.59mi	4/2.0	1,787 (-0%)	11mo	$100,000	$56	63
3024 N 44th St	0.36mi	4/2.0	1,998 (+12%)	1mo	$120,775	$60	63
3719 N 50th St Unit 3719A	0.51mi	3/2.0 (-1)	1,822 (+2%)	7mo	$175,000	$96	63
3260 N 34th St Unit 3260A	0.73mi	4/2.0	1,776 (-1%)	2mo	$86,000	$48	62
3148 N 39th St #3150	0.46mi	4/2.0	2,044 (+14%)	2mo	$128,888	$63	53
3205 N 35th St	0.65mi	3/2.0 (-1)	1,723 (-4%)	8mo	$119,000	$69	51
3502 N 37th St	0.60mi	5/2.0 (+1)	1,898 (+6%)	8mo	$95,000	$50	50
3616 N 55th St #3618	0.68mi	3/2.0 (-1)	1,977 (+10%)	2mo	$185,000	$94	44
4122 W Roosevelt Dr	0.60mi	5/2.0 (+1)	1,964 (+10%)	9mo	$181,621	$92	44

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

Projected returns pro-forma

1.33% appreciation · 7.01% rent growth · sell at horizon

5-year hold

• IRR: 16.5%
• Equity multiple: 1.88×
• Total profit: $44,542
• Equity at exit: $64,508

10-year hold

• IRR: 22.0%
• Equity multiple: 4.06×
• Total profit: $154,226
• Equity at exit: $88,170

Cash invested: $50,372 (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 53216

• Home prices YoY: 0.3%
• Rents YoY: 7.0%
• Active inventory: 126
• Price-to-rent: 13.9×

Monthly cashflow live

• Estimated rent: $2,154 high
• Mortgage (P&I): −$943
• Tax est. 1.5%: −$225 /mo · $2,698/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$452
• Net cashflow: $458

Break-even live

Break-even rent $1,574

Max offer price $179,900

Occupancy floor 74%

Sensitivity live

Price	-10% $583	-5% $521	+0% $458	+5% $396	+10% $334
Rent	-10% $288	-5% $373	+0% $458	+5% $543	+10% $629
Rate	-1.0pp $549	-0.5pp $504	base $458	+0.5pp $412	+1.0pp $364

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,154
Total (2 units)			$2,154

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3123 N 42nd St Milwaukee, WI	4.0	1.0	1500	$1,700	$1.13	24d	1	0.31mi
3122 N 42nd St Milwaukee, WI	3.0	1.0	1323	$1,495	$1.13	5d	1	0.32mi
2976 N 49th St Milwaukee, WI	3.0	1.0	1700	$1,300	$0.76	17d	1	0.45mi
3155 N 52nd St Milwaukee, WI	3.0	2.0	1300	$1,400	$1.08	44d	1	0.48mi
3925 N 42nd St Milwaukee, WI	3.0	1.0	1300	$1,675	$1.29	44d	1	0.70mi
2713 N 44th St Milwaukee, WI	3.0	1.0	1450	$1,350	$0.93	44d	1	0.74mi
2629 N 50th St Unit Upper Milwaukee, WI	3.0	1.0	1258	$1,375	$1.09	3d	1	0.91mi
4139 N 50th St Milwaukee, WI	3.0	1.0	1275	$1,600	$1.25	44d	1	0.99mi
2704 W Concordia Ave Unit Na Milwaukee, WI	5.0	2.0	1856	$2,500	$1.35	24d	1	1.14mi
2438 N 51st St Unit 2 Milwaukee, WI	3.0	1.0	1300	$1,650	$1.27	24d	1	1.14mi
2409 N 49th St Milwaukee, WI	3.0	1.0	1335	$1,248	$0.93	44d	1	1.16mi
2870 N 29th St #2872 Milwaukee, WI	3.0	1.0	1300	$1,250	$0.96	44d	1	1.17mi
4079 N 63rd St Milwaukee, WI	3.0	1.0	1600	$1,595	$1.00	20d	1	1.38mi
2809 W Clarke St Unit 12811 Milwaukee, WI	3.0	1.0	1400	$1,200	$0.86	17d	1	1.40mi
2137 N 47th St Milwaukee, WI	5.0	2.0	1723	$1,850	$1.07	15d	1	1.46mi

Listing history 10 events

1. 2026-06-05
   status $179,900 Pending 71 DOM
2. 2026-06-03
   days on market $179,900 Active 71 DOM
3. 2026-06-02
   statusdays on market $179,900 Active 70 DOM
4. 2026-06-01
   days on market $179,900 Contingent 69 DOM
5. 2026-05-31
   days on market $179,900 Contingent 68 DOM
6. 2026-03-24
   listed $179,900 Active 286-char remark

   Show marketing remark (286 chars)

   2/2 duplex fully rented duplex, in popular ''St. Joes'' Area. This Duplex has garage parking with a nice sized yard. New roof, windows, siding, trim and plumbing fixtures. Separate utilities. This is a maintenance free easy to run property. Both units occupied with long term residents.

7. 2026-01-01
   historical 272-char remark

   Show marketing remark (272 chars)

   2/2 duplex fully rented duplex, in popular ''St. Joes'' Area. This Duplex has garage parking with a nice sized yard. New roof, windows, siding, trim and plumbing fixtures. Separate utilities. This is a maintenance free easy to run ----beautiful ---- well kept----property!

8. 2025-10-20
   price $189,900 272-char remark

   Show marketing remark (272 chars)

   2/2 duplex fully rented duplex, in popular ''St. Joes'' Area. This Duplex has garage parking with a nice sized yard. New roof, windows, siding, trim and plumbing fixtures. Separate utilities. This is a maintenance free easy to run ----beautiful ---- well kept----property!

9. 2025-09-22
   price $194,500 272-char remark

   Show marketing remark (272 chars)

   2/2 duplex fully rented duplex, in popular ''St. Joes'' Area. This Duplex has garage parking with a nice sized yard. New roof, windows, siding, trim and plumbing fixtures. Separate utilities. This is a maintenance free easy to run ----beautiful ---- well kept----property!

10. 2025-09-10
    listed $199,999 Active 272-char remark

    Show marketing remark (272 chars)

    2/2 duplex fully rented duplex, in popular ''St. Joes'' Area. This Duplex has garage parking with a nice sized yard. New roof, windows, siding, trim and plumbing fixtures. Separate utilities. This is a maintenance free easy to run ----beautiful ---- well kept----property!

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $25,848
• − Mortgage interest: −$10,077
• − Property taxes: −$2,698
• − Insurance: −$900
• − Repairs & maintenance: −$2,068
• − Management: −$2,068
• − Depreciation: −$5,233
• Taxable income: $2,804
• Est. tax owed @ 24.0%: −$673
• After-tax cash flow: $4,828/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 · 2 photos

Good 80/100 Cosmetic rehab

This two-unit duplex is in good condition with recent renovations, including a new roof, windows, siding, and plumbing fixtures. It is fully rented and located in a popular area, making it a solid investment.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value
• Both Landscaping — Improves curb appeal and rental appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Landscaping — Improves curb appeal and rental appeal ↑

ⓘ 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): 30,345
• Household income: $46,752
• Rent vs Own: 52.7% rent · 47.3% own
• Severe rent burden: 2202.0

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 (81%)
• Race & ethnicity: Black 81% White 9% Hispanic / Latino 5% Two or more races 5% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 1%
• Foreign-born: 3% · Canada, Philippines, China
• Languages at home: 93% English-only · Spanish 4% 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: ▲ 1.33%
• Current HPI: 381.0954
• Rent YoY: ▲ 7.01%
• 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

-10.0% since first listed

5 events — show timeline

• 2026-03-24 Listed $179,900 METROMLS
• 2026-01-01 Listing Removed — METROMLS
• 2025-10-20 Price Changed $189,900 METROMLS
• 2025-09-22 Price Changed $194,500 METROMLS
• 2025-09-10 Listed $199,999 METROMLS