2477 N 6th St · Milwaukee, WI 53212

$139,000

4 bd · 2.0 ba · 2,046 sqft · MultiFamily · 51 Days on market

Built 1875 10,018 sqft lot Est $162k · 14% under ↓ 3% 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 +30.0/30.0
• ARV discount +13.8/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• 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 MLS

Newly renovated two-family home in Milwaukee! Each unit offers 2 bedrooms and 1 full bath, featuring fresh updates throughout. Perfect for an owner-occupant or investor, this property provides comfortable layouts and move-in ready finishes. No garage, but plenty of nearby street parking. Conveniently located close to schools, shopping, and downtown access. Don't miss this great opportunity!

Key facts

• Double lot
• Fresh updates
• Newly renovated

Tags

• NEWLY RENOVATED
• DOUBLE LOT
• FRESH UPDATES
• MOVE-IN READY FINISHES
• NEARBY STREET PARKING
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 1×2bd/1.0ba + 1×3bd/1.0ba units multifamily listed at $139k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $556/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $139k).
• Recommended offer: $135k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.9% 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 (+5.0%/yr); 129 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $2,623/mo this rent would consume 67% of the median local household income ($47k/yr) (locally 2397% 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 $961 of loan paydown is wiped out by about $4k 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 + 5.0% rent growth), your $39k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($135k) is reasonable based on typical stale-listing flexibility.
• 3 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 1875 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $134,830 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% 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 1875 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.89% ✓
• Cap rate: 15.89%
• Cash-on-cash: 34.27%
• DSCR: 2.52
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $161,634
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2477 N 6th St	0.00mi	5/2.0 (+1)	2,046 (0%)	1mo	$111,000	$54	94
2507 N 6th St Unit 2507A	0.03mi	4/2.0	1,862 (-9%)	7mo	$165,000	$89	78
137 W Hadley St #139	0.50mi	4/2.5	2,013 (-2%)	5mo	$138,000	$69	68
220 E Clarke St	0.52mi	3/2.0 (-1)	2,077 (+2%)	3mo	$180,000	$87	66
2237 N 15th St #2239	0.72mi	4/2.0	2,024 (-1%)	3mo	$95,000	$47	62
2136 N 11th St	0.49mi	4/2.0	1,920 (-6%)	6mo	$115,052	$60	62
2768 N Palmer St #2770	0.60mi	4/2.0	2,211 (+8%)	3mo	$174,415	$79	56
2611 N Holton St Unit 2611A	0.68mi	4/2.0	1,892 (-8%)	6mo	$165,000	$87	51
2514 N Holton St #2516	0.69mi	4/2.0	2,246 (+10%)	1mo	$215,000	$96	50
2555 N 16th St	0.73mi	4/2.0	1,898 (-7%)	5mo	$95,999	$51	50
2138 N Hubbard St	0.64mi	4/4.0	1,942 (-5%)	8mo	$430,000	$221	47
2724 N Palmer St Unit 2724A	0.56mi	4/2.0	1,746 (-15%)	4mo	$104,900	$60	46

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 · 5.0% rent growth · sell at horizon

5-year hold

• IRR: 31.9%
• Equity multiple: 2.38×
• Total profit: $53,696
• Equity at exit: $20,725

10-year hold

• IRR: 40.1%
• Equity multiple: 5.14×
• Total profit: $161,093
• Equity at exit: $12,018

Cash invested: $38,920 (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 53212

• Rents YoY: 5.0%
• Active inventory: 129
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,623 high
• Mortgage (P&I): −$729
• Tax est. 1.5%: −$174 /mo · $2,085/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$551
• Net cashflow: $1,112

Break-even live

Break-even rent $1,216

Max offer price $139,000

Occupancy floor 53%

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,275
1× unit	3	1	$1,348
Total (2 units)			$2,623

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2634 N Doctor M.L.K. Jr Dr Milwaukee, WI	5.0	2.5	2512	$3,700	$1.47	43d	1	0.32mi
400 E Meinecke Ave #402 Milwaukee, WI	3.0	1.0	1700	$1,800	$1.06	16d	1	0.65mi
2012 N Buffum St Milwaukee, WI	3.0	2.5	2200	$2,695	$1.23	43d	1	0.81mi
3042 N Palmer St #5 Milwaukee, WI	3.0	1.0	1718	$1,050	$0.61	23d	1	0.85mi
2772 N Bremen St #2774 Milwaukee, WI	3.0	1.0	1500	$1,795	$1.20	43d	1	1.02mi
1551 N Water St Milwaukee, WI	3.0	1.0–2.0	1074	$3,395	$3.16	2d	52	1.11mi
2308 W Clarke St Milwaukee, WI	4.0	2.0	1545	$1,750	$1.13	23d	1	1.16mi
922 E Hamilton St Unit Lower Milwaukee, WI	3.0	1.0	1900	$1,550	$0.82	23d	1	1.16mi
2119 W Brown St Milwaukee, WI	3.0	1.0	1754	$995	$0.57	3d	1	1.18mi
3420 N Vel R. Phillips Ave Unit 3422 Milwaukee, WI	3.0	1.0	2756	$1,195	$0.43	43d	1	1.18mi
1014 E Land Pl Milwaukee, WI	3.0	2.0	1900	$2,000	$1.05	4d	1	1.18mi
3420-22 N Vel R Phillips Ave Milwaukee, WI	3.0	1.0	2756	$1,195	$0.43	43d	1	1.18mi
901 W Winnebago St Milwaukee, WI	1.0–3.0	1.0–2.0	1359	$2,629	$1.93	2d	10	1.19mi
1025 E Land Pl Milwaukee, WI	3.0	1.0	1560	$1,750	$1.12	23d	1	1.20mi
1703 N Astor St Milwaukee, WI	4.0	2.0	1800	$2,200	$1.22	43d	1	1.23mi
1116 E Hamilton St Milwaukee, WI	3.0	2.0	1400	$1,750	$1.25	17d	1	1.27mi
312 E Townsend St Unit 312 Milwaukee, WI	3.0	1.0	1400	$1,250	$0.89	23d	1	1.29mi
1141 N Doctor Martin Luther King Junior Dr Milwaukee, WI	1.0–3.0	1.0–2.5	1861	$6,250	$3.36	2d	6	1.29mi
1116 N 13th St Milwaukee, WI	3.0	1.0	1400	$1,345	$0.96	14d	1	1.40mi
2432 N 28th St Milwaukee, WI	5.0	1.5	1876	$1,600	$0.85	43d	1	1.49mi

Listing history 8 events

1. 2026-03-09
   status Pending
2. 2026-01-14
   historical 393-char remark

   Show marketing remark (393 chars)

   Newly renovated two-family home in Milwaukee! Each unit offers 2 bedrooms and 1 full bath, featuring fresh updates throughout. Perfect for an owner-occupant or investor, this property provides comfortable layouts and move-in ready finishes. No garage, but plenty of nearby street parking. Conveniently located close to schools, shopping, and downtown access. Don't miss this great opportunity!

3. 2026-01-14
   listed $139,000 Active

   Show marketing remark (393 chars)

   Newly renovated two-family home in Milwaukee! Each unit offers 2 bedrooms and 1 full bath, featuring fresh updates throughout. Perfect for an owner-occupant or investor, this property provides comfortable layouts and move-in ready finishes. No garage, but plenty of nearby street parking. Conveniently located close to schools, shopping, and downtown access. Don't miss this great opportunity!

4. 2025-11-18
   status Active 393-char remark

   Show marketing remark (393 chars)

   Newly renovated two-family home in Milwaukee! Each unit offers 2 bedrooms and 1 full bath, featuring fresh updates throughout. Perfect for an owner-occupant or investor, this property provides comfortable layouts and move-in ready finishes. No garage, but plenty of nearby street parking. Conveniently located close to schools, shopping, and downtown access. Don't miss this great opportunity!

5. 2025-11-18
   price $125,000 393-char remark

   Show marketing remark (393 chars)

   Newly renovated two-family home in Milwaukee! Each unit offers 2 bedrooms and 1 full bath, featuring fresh updates throughout. Perfect for an owner-occupant or investor, this property provides comfortable layouts and move-in ready finishes. No garage, but plenty of nearby street parking. Conveniently located close to schools, shopping, and downtown access. Don't miss this great opportunity!

6. 2025-11-05
   historical Contingent 393-char remark

   Show marketing remark (393 chars)

   Newly renovated two-family home in Milwaukee! Each unit offers 2 bedrooms and 1 full bath, featuring fresh updates throughout. Perfect for an owner-occupant or investor, this property provides comfortable layouts and move-in ready finishes. No garage, but plenty of nearby street parking. Conveniently located close to schools, shopping, and downtown access. Don't miss this great opportunity!

7. 2025-10-17
   price $139,000 393-char remark

   Show marketing remark (393 chars)

   Newly renovated two-family home in Milwaukee! Each unit offers 2 bedrooms and 1 full bath, featuring fresh updates throughout. Perfect for an owner-occupant or investor, this property provides comfortable layouts and move-in ready finishes. No garage, but plenty of nearby street parking. Conveniently located close to schools, shopping, and downtown access. Don't miss this great opportunity!

8. 2025-09-20
   listed $144,000 Active 393-char remark

   Show marketing remark (393 chars)

   Newly renovated two-family home in Milwaukee! Each unit offers 2 bedrooms and 1 full bath, featuring fresh updates throughout. Perfect for an owner-occupant or investor, this property provides comfortable layouts and move-in ready finishes. No garage, but plenty of nearby street parking. Conveniently located close to schools, shopping, and downtown access. Don't miss this great opportunity!

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,476
• − Mortgage interest: −$7,786
• − Property taxes: −$2,085
• − Insurance: −$695
• − Repairs & maintenance: −$2,518
• − Management: −$2,518
• − Depreciation: −$4,044
• Taxable income: $11,830
• Est. tax owed @ 24.0%: −$2,839
• After-tax cash flow: $10,500/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): 28,938
• Household income: $47,298
• Rent vs Own: 65.6% rent · 34.4% own
• Severe rent burden: 2397.0

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 0.64)
• Race & ethnicity: Black 48% White 35% Hispanic / Latino 12% Two or more races 9%
• Hispanic origin (detail): Mexican 4% Puerto Rican 6%
• Common ancestry: Romanian 4% Portuguese 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 92% English-only · Spanish 6%

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: ▼ -216.73%
• Current HPI: 385.8225
• Rent YoY: ▲ 5.00%
• 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

-3.5% since first listed

8 events — show timeline

• 2026-03-09 Pending — METROMLS
• 2026-01-14 Listing Removed — METROMLS
• 2026-01-14 Listed $139,000 METROMLS
• 2025-11-18 Relisted — METROMLS
• 2025-11-18 Price Changed $125,000 METROMLS
• 2025-11-05 Contingent — METROMLS
• 2025-10-17 Price Changed $139,000 METROMLS
• 2025-09-20 Listed $144,000 METROMLS