4956 W Midland Dr #4958 · Greenfield, WI 53219

$290,000

6 bd · 3.0 ba · 2,244 sqft · MultiFamily · 1 Days on market

Built 1965 5,227 sqft lot Est $330k · 12% under

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Why this score? — see what drove the C+ 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 +22.0/30.0
• ARV discount +12.9/15.0
• DSCR +7.0/10.0
• 1% rule +5.8/10.0
• Livability +4.3/5.0
• Rent growth +3.8/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• 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

Wonderful town home style duplex with 3 bedrooms and 1.5 bathrooms in each unit on a lovely street of primarily single-family homes. Current rents total $2145/mo. Property has a 2.5 car garage and a partially fenced back yard. Recent updates include: all upper windows replaced, kitchen in 4958 was remodeled, exterior brick on side of house was replaced due to a car hitting the building. Many appliances are included, 1 unit has central air, and each unit has their own basement. The units are comfortable and would work well for an owner occupant or investor. Don't delay and set up your showing today! Measurements have not been verified.

Key facts

• Fully remodeled
• Separate basements
• Corner lot

Tags

• SEPARATE BASEMENTS
• FULLY REMODELED
• DETACHED GARAGE
• CORNER LOT
• DESIRABLE NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $290k.

Deal economics

• At list price, monthly cash flow is $463 ($6k/yr) — positive. Per door: $232/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $290k).
• Cap rate 8.2% vs local median 2.8% in Greenfield — 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 86/100 on livability (#23 in WI, #361 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+.
• Greenfield School District (suburban): math 27% / reading 34% proficiency, ranked #271 of 342 in WI (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Greenfield High (math 17% / reading 29%, grade F, #343 of 483 statewide, top 72%, 1,157 students, 47% FRL) — zoned schools average 47% FRL vs 32% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.1%/yr); 55 active listings in the ZIP; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $3,123/mo this rent would consume 53% of the median local household income ($70k/yr) (locally 902% 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 $2k of loan paydown is wiped out by about $9k 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.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 14y 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.
• Current owner paid $175k; list at $290k implies a 66% gain — meaningful room to come down on a strong offer.

Recommended offer $290,000

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 1965 — 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. 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.
6. 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.
7. 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: 1.08% ✓
• Cap rate: 8.21%
• Cash-on-cash: 6.84%
• DSCR: 1.30
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $329,868
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4956 W Midland Dr #4958	0.00mi	6/3.0	2,244 (0%)	1mo	$315,000	$140	99
3448 S 44th St #3450	0.38mi	5/2.0 (-1)	2,054 (-8%)	1mo	$387,500	$189	58
5625 W Oklahoma Ave Unit 5625A	0.55mi	5/2.0 (-1)	2,224 (-1%)	13mo	$295,000	$133	53
4804 W Forest Home Ave	0.20mi	7/2.5 (+1)	1,948 (-13%)	12mo	$369,900	$190	52
2825 S 48th St #2823	0.71mi	6/2.0	2,180 (-3%)	23mo	$295,000	$135	39
3208 S 40th St #3210	0.67mi	5/2.0 (-1)	2,313 (+3%)	21mo	$340,000	$147	37
3773 S 58th St #3775	0.73mi	6/2.0	2,515 (+12%)	10mo	$396,000	$157	34

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 · 5.09% rent growth · sell at horizon

5-year hold

• IRR: -3.5%
• Equity multiple: 0.87×
• Total profit: $-10,750
• Equity at exit: $43,240

10-year hold

• IRR: 8.5%
• Equity multiple: 1.71×
• Total profit: $57,518
• Equity at exit: $25,074

Cash invested: $81,200 (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 53219

• Home prices YoY: -29.8%
• Rents YoY: 5.1%
• Active inventory: 55
• Price-to-rent: 15.5×

Monthly cashflow live

• Estimated rent: $3,123 high
• Mortgage (P&I): −$1,521
• Tax est. 1.5%: −$362 /mo · $4,350/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$656
• Net cashflow: $463

Break-even live

Break-even rent $2,537

Max offer price $290,000

Occupancy floor 80%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$3,124
Total (2 units)			$3,123

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: $72,500
• Closing costs: $8,700
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-04-28
   status Pending
2. 2026-04-27
   listed $290,000 Active
3. 2019-02-26
   status Pending 642-char remark

   Show marketing remark (642 chars)

   Wonderful town home style duplex with 3 bedrooms and 1.5 bathrooms in each unit on a lovely street of primarily single-family homes. Current rents total $2145/mo. Property has a 2.5 car garage and a partially fenced back yard. Recent updates include: all upper windows replaced, kitchen in 4958 was remodeled, exterior brick on side of house was replaced due to a car hitting the building. Many appliances are included, 1 unit has central air, and each unit has their own basement. The units are comfortable and would work well for an owner occupant or investor. Don't delay and set up your showing today! Measurements have not been verified.

4. 2019-02-25
   soldstatus $175,000 Sold 642-char remark

   Show marketing remark (642 chars)

   Wonderful town home style duplex with 3 bedrooms and 1.5 bathrooms in each unit on a lovely street of primarily single-family homes. Current rents total $2145/mo. Property has a 2.5 car garage and a partially fenced back yard. Recent updates include: all upper windows replaced, kitchen in 4958 was remodeled, exterior brick on side of house was replaced due to a car hitting the building. Many appliances are included, 1 unit has central air, and each unit has their own basement. The units are comfortable and would work well for an owner occupant or investor. Don't delay and set up your showing today! Measurements have not been verified.

5. 2019-01-28
   historical Contingent 642-char remark

   Show marketing remark (642 chars)

   Wonderful town home style duplex with 3 bedrooms and 1.5 bathrooms in each unit on a lovely street of primarily single-family homes. Current rents total $2145/mo. Property has a 2.5 car garage and a partially fenced back yard. Recent updates include: all upper windows replaced, kitchen in 4958 was remodeled, exterior brick on side of house was replaced due to a car hitting the building. Many appliances are included, 1 unit has central air, and each unit has their own basement. The units are comfortable and would work well for an owner occupant or investor. Don't delay and set up your showing today! Measurements have not been verified.

6. 2018-12-28
   listed $199,900 Active 642-char remark

   Show marketing remark (642 chars)

   Wonderful town home style duplex with 3 bedrooms and 1.5 bathrooms in each unit on a lovely street of primarily single-family homes. Current rents total $2145/mo. Property has a 2.5 car garage and a partially fenced back yard. Recent updates include: all upper windows replaced, kitchen in 4958 was remodeled, exterior brick on side of house was replaced due to a car hitting the building. Many appliances are included, 1 unit has central air, and each unit has their own basement. The units are comfortable and would work well for an owner occupant or investor. Don't delay and set up your showing today! Measurements have not been verified.

7. 2012-10-10
   listed $215,000 241-char remark

   Show marketing remark (241 chars)

   Beautiful picturesque neighborhood is the setting for this two-story brick and aluminum townhouse. Each unit has three bedrooms, 1.5 baths and separate basements. One unit has central air and a dishwasher. 2.5 car garage and 2 parking spots.

8. 2012-10-10
   historical 241-char remark

   Show marketing remark (241 chars)

   Beautiful picturesque neighborhood is the setting for this two-story brick and aluminum townhouse. Each unit has three bedrooms, 1.5 baths and separate basements. One unit has central air and a dishwasher. 2.5 car garage and 2 parking spots.

9. 2008-12-11
   soldstatus $185,000 241-char remark

   Show marketing remark (241 chars)

   Beautiful picturesque neighborhood is the setting for this two-story brick and aluminum townhouse. Each unit has three bedrooms, 1.5 baths and separate basements. One unit has central air and a dishwasher. 2.5 car garage and 2 parking spots.

ⓘ 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,476
• − Mortgage interest: −$16,245
• − Property taxes: −$4,350
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,998
• − Management: −$2,998
• − Depreciation: −$8,436
• Taxable income: $999
• Est. tax owed @ 24.0%: −$240
• After-tax cash flow: $5,317/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: Greenfield School District
• NCES district ID: 5505940
• Math proficiency: 27% ▼ -7.00%
• Reading proficiency: 34% ▼ -2.00%
• Median HH income: $48,942
• Composite: 26.49/100
• National rank: #7209
• State rank: #271 of 342 in WI

Livability — Greenfield

• Score: 86/100
• State rank: #23
• US rank: #361

Category grades

Amenities B Commute A+ Cost of living A+ Crime B+ Employment B Housing A+ Health & safety A+ User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenfield, WI
• County: Milwaukee County · 926,379 people
• City population: 42,903
• Metro: Milwaukee-Waukesha, WI
• Population (ZIP): 34,764
• Household income: $70,388
• Rent vs Own: 37.7% rent · 62.3% own
• Severe rent burden: 902.0

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 0.56)
• Race & ethnicity: White 59% Hispanic / Latino 31% Two or more races 16% Black 5% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 22% Puerto Rican 7%
• Common ancestry: Romanian 12% Portuguese 3% Lithuanian 3%
• Foreign-born: 10% · Canada, Philippines, China
• Languages at home: 77% English-only · Spanish 19% 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: ▼ -118.46%
• Current HPI: 278.8314
• Rent YoY: ▲ 5.09%
• 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

+56.8% since first listed

9 events — show timeline

• 2026-04-28 Pending — METROMLS
• 2026-04-27 Listed $290,000 METROMLS
• 2019-02-26 Pending — METROMLS
• 2019-02-25 Sold (MLS) $175,000 METROMLS
• 2019-01-28 Contingent — METROMLS
• 2018-12-28 Listed $199,900 METROMLS
• 2012-10-10 Listing Removed — METROMLS
• 2012-10-10 Listed $215,000 METROMLS
• 2008-12-11 Sold (MLS) $185,000 METROMLS