1217 W Orchard St #1219 · Milwaukee, WI 53204

$149,900

None bd · None ba · 2,081 sqft · MultiFamily · 11 Days on market

Built 1880 Fair condition 3,049 sqft lot $72/sqft · at area comps Est $157k · at est. ↓ 20% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +9.4/15.0
• Livability +4.0/5.0
• Rent growth +3.0/5.0
• Condition / age +2.2/5.0
• 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

This unique 3-unit property, on 2 separate tax keys, features a duplex plus a separate cottage, offering strong potential for investors, flippers, or buyers looking for their next project. The property will require some repairs and updates throughout, but has plenty of upside for the investment. Conveniently configured with multiple units and off street parking, this is a true opportunity. Property is being sold as-is and only cash offers will be considered.

Key facts

• 3 unit property
• Separate cottage
• Off street parking

Tags

• 3 UNIT PROPERTY
• DUPLEX
• SEPARATE COTTAGE
• OFF STREET PARKING

Property features AI

Finance

• Other: Three-unit building

Exterior

• Parking: Outdoor parking; On-site inside parking available; Outside parking
• Utilities: Municipal water; Municipal sewer
• Home design: Multi-family property (Duplex+); 1–2 stories
• Exterior features: Small lot (approximately 0.07 acre); Less than 1/2 acre; Exterior described as Other; Zoned residential

Interior

• Heating & cooling: Forced air heating; Natural gas heat
• Interior features: Full basement; Washer and dryer included (seller-owned)
• Laundry & utility: Washer (seller-owned); Dryer (seller-owned)

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/?-bath units multifamily listed at $150k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $699/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Cap rate 17.5% 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 (+2.0%/yr); 57 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $3,081/mo this rent would consume 80% of the median local household income ($46k/yr) (locally 2357% 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 $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Milwaukee County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 2.0% rent growth), your $42k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $120k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $149,900

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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1880 — 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: 2.06% ✓
• Cap rate: 17.48%
• Cash-on-cash: 39.97%
• DSCR: 2.78
• GRM: 4.1

CMA / ARV

• ARV (median comp): $156,621
• List price: $149,900
• Delta: -4.29%
• 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
1217 W Orchard St #1219	0.00mi	—/—	2,081 (0%)	0mo	$120,000	$58	100
1425 W Orchard St Unit 1425A	0.13mi	6/2.0	1,967 (-6%)	3mo	$172,000	$87	82
1505 S 8th St	0.30mi	6/2.0	2,184 (+5%)	1mo	$265,000	$121	77
1541 S Union St	0.48mi	—/—	2,128 (+2%)	1mo	$182,000	$86	73
1571 S 14th St	0.15mi	4/2.0	1,830 (-12%)	0mo	$155,000	$85	73
1600 S Muskego Ave	0.46mi	5/2.0	1,910 (-8%)	3mo	$140,140	$73	62
1544 S 6th St	0.47mi	6/2.0	2,287 (+10%)	1mo	$175,000	$77	61
1624 W Washington St	0.45mi	6/2.0	2,290 (+10%)	2mo	$170,000	$74	60
2111 W Burnham St Unit 2111A	0.71mi	4/2.0	1,977 (-5%)	0mo	$194,000	$98	58
2119 S 14th St	0.69mi	5/2.0	1,968 (-5%)	3mo	$220,000	$112	56
1939 S Winona Ln #1941	0.59mi	7/2.5	2,286 (+10%)	1mo	$220,000	$96	55
1926 S 20th St	0.68mi	6/2.0	1,796 (-14%)	4mo	$192,500	$107	42

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

Projected returns pro-forma

10.0% appreciation · 2.0% rent growth · sell at horizon

5-year hold

• IRR: 54.5%
• Equity multiple: 4.99×
• Total profit: $167,660
• Equity at exit: $135,042

10-year hold

• IRR: 47.7%
• Equity multiple: 10.95×
• Total profit: $417,822
• Equity at exit: $291,223

Cash invested: $41,972 (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 53204

• Home prices YoY: 19.0%
• Rents YoY: 2.0%
• Active inventory: 57
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $3,081 high
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$647
• Net cashflow: $1,398

Break-even live

Break-even rent $1,311

Max offer price $149,900

Occupancy floor 50%

Sensitivity live

Price	-10% $1,502	-5% $1,450	+0% $1,398	+5% $1,346	+10% $1,294
Rent	-10% $1,155	-5% $1,276	+0% $1,398	+5% $1,520	+10% $1,641
Rate	-1.0pp $1,474	-0.5pp $1,436	base $1,398	+0.5pp $1,359	+1.0pp $1,320

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	—	$3,082
Total (2 units)			$3,081

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1812 S 7th St Milwaukee, WI	3.0	1.5	1703	$2,100	$1.23	24d	1	0.52mi
625 W Freshwater Way Milwaukee, WI	1.0–2.0	1.0–2.0	1137	$3,650	$3.21	3d	12	0.94mi
133 W Oregon St Milwaukee, WI	3.0	2.0	1561	$2,775	$1.78	4d	3	1.14mi
2141 S Robinson Ave Milwaukee, WI	3.0	1.0–2.0	1006	$2,272	$2.26	2d	20	1.23mi
135 W Seeboth St Unit Cream City Lofts-104 Milwaukee, WI	3.0	2.0	1856	$2,995	$1.61	18d	1	1.24mi
441 E Erie St Milwaukee, WI	1.0–2.0	1.0–2.0	1044	$4,099	$3.93	4d	4	1.45mi
239 E Chicago St Milwaukee, WI	1.0–3.0	1.0–2.5	1652	$2,425	$1.47	5d	2	1.48mi
239 E Chicago St Milwaukee, WI	1.0–2.0	1.0–2.0	1510	$3,348	$2.22	44d	2	1.48mi

Listing history 1 events

1. 2026-05-08
   listed $149,900 Active 462-char remark

ⓘ 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 ≥96°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,972
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$750
• − Repairs & maintenance: −$2,958
• − Management: −$2,958
• − Depreciation: −$4,361
• Taxable income: $15,301
• Est. tax owed @ 24.0%: −$3,672
• After-tax cash flow: $13,105/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 · 1 photo

Fair 45/100 Moderate rehab

This 3-unit property requires moderate renovations, including exterior repairs, interior painting, and landscaping, to improve its resale and rental value.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major concrete steps — Worn and uneven
• Major interior walls — Painted walls show significant wear

Value-add opportunities

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics
• Both Rebuilding or repairing concrete steps — Improves safety and enhances curb appeal
• Both Landscaping and curb appeal improvements — Enhances property's visual appeal and marketability

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
concrete steps · Worn and uneven	Major	$15,000–50,000
interior walls · Painted walls show significant wear	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Rebuilding or repairing concrete steps — Improves safety and enhances curb appeal ↑
• Both Landscaping and curb appeal improvements — Enhances property's visual appeal and marketability ↑

ⓘ 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): 39,996
• Household income: $45,934
• Rent vs Own: 73.8% rent · 26.2% own
• Severe rent burden: 2357.0

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 Hispanic (68%)
• Race & ethnicity: Hispanic / Latino 68% Two or more races 35% White 15% Black 11% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 51% Puerto Rican 13%
• Common ancestry: Romanian 3% Portuguese 1% Lithuanian 1%
• Foreign-born: 28% · Canada
• Languages at home: 35% English-only · Spanish 61% Other Asian/Pacific 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: ▲ 64.27%
• Current HPI: 403.236
• Rent YoY: ▲ 2.00%
• 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

-19.9% since first listed

3 events — show timeline

• 2026-06-09 Sold (MLS) $120,000 METROMLS
• 2026-05-19 Pending — METROMLS
• 2026-05-08 Listed $149,900 METROMLS