3506 W Hampton Ave #3508 · Milwaukee, WI 53209

$165,000

4 bd · 2.0 ba · 2,016 sqft · MultiFamily · 23 Days on market

Built 1952 Fair condition 4,791 sqft lot Est $149k · 11% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.7/5.0
• Livability +4.0/5.0
• ARV discount +2.7/15.0
• Condition / age +2.2/5.0
• 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

This charming duplex in Milwaukee offers an exceptional opportunity for both buyers and investors. With reliable cash flow from long-term renters, this property provides a steady income stream, making it an excellent choice for those looking to expand their real estate portfolio or secure a new home with the added benefit of rental income. Offering easy access to major amenities, public transportation, and popular local attractions, its prime location ensures both convenience and long-term value, while the stability of long-term renters adds an extra layer of security to your investment. Whether you're an experienced investor seeking a lucrative opportunity or a first-time buyer looking to make a smart purchase, this property is sure to deliver strong returns and lasting potential.

Key facts

• Prime location
• 4,791 sq ft lot
• Parking

Tags

• EASY ACCESS TO MAJOR AMENITIES
• PUBLIC TRANSPORTATION
• POPULAR LOCAL ATTRACTIONS
• PRIME LOCATION

Property features AI

Finance

• Other: Information source for year built: Assessor/Public Record

Exterior

• Parking: 1 parking space
• Utilities: Municipal water; Municipal sewer; 2 electric meters; 2 gas meters
• Home design: 2-story duplex; Multi-family property
• Construction: Brick construction
• Exterior features: Brick/stone exterior; Brick construction; Lot approximately 0.11 acres (less than 1/2 acre); Zoned RT3

Interior

• Kitchen: Unit 2 kitchen (upper level); Includes 2 ovens and 2 refrigerators
• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 2 bedrooms (master and second bedroom on upper level)
• Bathrooms: Unit 1: 1 full bathroom; Unit 2: 1 full bathroom
• Interior features: Full basement
• Laundry & utility: Includes 1 washer and dryer set

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $165k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $884 ($11k/yr) — positive. Per door: $442/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $165k).
• Recommended offer: $163k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.7% 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+, 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.
• Zoned schools: Clemens Elementary (math 5% / reading 2%, grade F, #1,021 of 1,041 statewide, top 98%, 285 students, 99% FRL); Marshall High (math 5% / reading 5%, grade F, #467 of 483 statewide, top 100%, 798 students, 86% FRL) — zoned schools average 92% FRL vs 77% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+8.6%/yr); 168 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $2,562/mo this rent would consume 63% of the median local household income ($48k/yr) (locally 3390% 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 $1k of loan paydown is wiped out by about $5k 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 + 8.0% rent growth), your $46k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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 $130k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $162,525 (1.5% below list)

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 1952 — 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: 1.55% ✓
• Cap rate: 12.72%
• Cash-on-cash: 22.95%
• DSCR: 2.02
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $149,184
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4673 N 36th St	0.19mi	4/2.0	2,120 (+5%)	9mo	$200,000	$94	75
4783 N 30th St #4785	0.31mi	5/2.5 (+1)	2,050 (+2%)	3mo	$85,000	$41	73
4572 N 38th St Unit 4572A	0.34mi	4/2.0	1,873 (-7%)	4mo	$110,000	$59	69
4703 N 35th St	0.15mi	4/2.0	1,789 (-11%)	9mo	$147,500	$82	66
4952 N 25th St	0.70mi	4/2.0	2,027 (+0%)	0mo	$140,000	$69	66
4537 N 27th St	0.61mi	4/2.0	2,012 (-0%)	8mo	$150,000	$75	64
4568 N 38th St	0.34mi	4/2.0	1,796 (-11%)	8mo	$70,000	$39	59
5352 N 39th St Unit 5352A	0.72mi	4/2.0	1,889 (-6%)	2mo	$295,900	$157	54
5277 N 38th St	0.63mi	4/2.0	2,182 (+8%)	8mo	$115,000	$53	50
4423 N 30th St #4425	0.58mi	4/2.0	2,205 (+9%)	9mo	$250,000	$113	50
5342 N 35th St	0.68mi	4/2.0	1,843 (-9%)	10mo	$90,000	$49	46
4360 N 28th St #4362	0.74mi	5/2.0 (+1)	2,222 (+10%)	5mo	$165,000	$74	39

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 21.5%
• Equity multiple: 1.93×
• Total profit: $43,125
• Equity at exit: $24,602

10-year hold

• IRR: 32.7%
• Equity multiple: 4.72×
• Total profit: $171,807
• Equity at exit: $14,266

Cash invested: $46,200 (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 53209

• Rents YoY: 8.6%
• Active inventory: 168
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,562 high
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,475/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$538
• Net cashflow: $884

Break-even live

Break-even rent $1,443

Max offer price $165,000

Occupancy floor 61%

Sensitivity live

Price	-10% $998	-5% $941	+0% $884	+5% $827	+10% $770
Rent	-10% $681	-5% $783	+0% $884	+5% $985	+10% $1,086
Rate	-1.0pp $967	-0.5pp $926	base $884	+0.5pp $841	+1.0pp $797

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,562
Total (2 units)			$2,562

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2116 W Atkinson Ave Unit A Milwaukee, WI	4.0	1.0	1707	$2,000	$1.17	2d	1	1.30mi
4900 N 58th St Milwaukee, WI	3.0	1.0	1455	$1,450	$1.00	5d	1	1.41mi

Listing history 23 events

1. 2026-06-18
   days on market $165,000 Active 23 DOM
2. 2026-06-17
   days on market $165,000 Active 22 DOM
3. 2026-06-16
   days on market $165,000 Active 21 DOM
4. 2026-06-15
   days on market $165,000 Active 20 DOM
5. 2026-06-13
   days on market $165,000 Active 18 DOM
6. 2026-06-13
   days on market $165,000 Active 17 DOM
7. 2026-06-09
   days on market $165,000 Active 14 DOM
8. 2026-06-08
   days on market $165,000 Active 13 DOM
9. 2026-06-07
   days on market $165,000 Active 12 DOM
10. 2026-06-05
    days on market $165,000 Active 9 DOM
11. 2026-06-03
    days on market $165,000 Active 8 DOM
12. 2026-06-02
    days on market $165,000 Active 7 DOM
13. 2026-06-01
    days on market $165,000 Active 6 DOM
14. 2026-05-31
    days on market $165,000 Active 5 DOM
15. 2026-05-26
    listed $165,000 Active
16. 2025-02-19
    historical 792-char remark

    Show marketing remark (792 chars)

    This charming duplex in Milwaukee offers an exceptional opportunity for both buyers and investors. With reliable cash flow from long-term renters, this property provides a steady income stream, making it an excellent choice for those looking to expand their real estate portfolio or secure a new home with the added benefit of rental income. Offering easy access to major amenities, public transportation, and popular local attractions, its prime location ensures both convenience and long-term value, while the stability of long-term renters adds an extra layer of security to your investment. Whether you're an experienced investor seeking a lucrative opportunity or a first-time buyer looking to make a smart purchase, this property is sure to deliver strong returns and lasting potential.

17. 2025-02-18
    listed $145,000 Active 792-char remark

    Show marketing remark (792 chars)

    This charming duplex in Milwaukee offers an exceptional opportunity for both buyers and investors. With reliable cash flow from long-term renters, this property provides a steady income stream, making it an excellent choice for those looking to expand their real estate portfolio or secure a new home with the added benefit of rental income. Offering easy access to major amenities, public transportation, and popular local attractions, its prime location ensures both convenience and long-term value, while the stability of long-term renters adds an extra layer of security to your investment. Whether you're an experienced investor seeking a lucrative opportunity or a first-time buyer looking to make a smart purchase, this property is sure to deliver strong returns and lasting potential.

18. 2024-03-08
    soldstatus $130,000 Sold 480-char remark

    Show marketing remark (480 chars)

    A sturdy and attractive brick duplex in a convenient neighborhood, close to amenities, parks, and schools. Great house hack--live in one unit and rent out the other or landlords, add this investment/income property to your rental portfolio. Two identical units, each with two bedrooms, one bathroom, a kitchen, a living room and dining room. The property also has a backyard, with off street parking. Currently rented to two long-term tenants who pay $750 and $850 per month each.

19. 2024-02-05
    historical Contingent 480-char remark

    Show marketing remark (480 chars)

    A sturdy and attractive brick duplex in a convenient neighborhood, close to amenities, parks, and schools. Great house hack--live in one unit and rent out the other or landlords, add this investment/income property to your rental portfolio. Two identical units, each with two bedrooms, one bathroom, a kitchen, a living room and dining room. The property also has a backyard, with off street parking. Currently rented to two long-term tenants who pay $750 and $850 per month each.

20. 2024-01-29
    listed $125,000 Active 480-char remark

    Show marketing remark (480 chars)

    A sturdy and attractive brick duplex in a convenient neighborhood, close to amenities, parks, and schools. Great house hack--live in one unit and rent out the other or landlords, add this investment/income property to your rental portfolio. Two identical units, each with two bedrooms, one bathroom, a kitchen, a living room and dining room. The property also has a backyard, with off street parking. Currently rented to two long-term tenants who pay $750 and $850 per month each.

21. 2022-12-14
    soldstatus $116,000 Sold
22. 2022-11-25
    status Pending
23. 2022-10-24
    listed $119,900 Active

ⓘ 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 ≥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: $30,744
• − Mortgage interest: −$9,243
• − Property taxes: −$2,475
• − Insurance: −$825
• − Repairs & maintenance: −$2,460
• − Management: −$2,460
• − Depreciation: −$4,800
• Taxable income: $8,482
• Est. tax owed @ 24.0%: −$2,036
• After-tax cash flow: $8,569/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 · 12 photos

Fair 45/100 Moderate rehab

This two-unit duplex requires moderate renovations to improve its condition and increase its value. Key areas for improvement include updating the kitchen and bathrooms, landscaping, and repairing the exterior fence.

Repairs flagged

• Major kitchen countertops — worn and outdated
• Major bathroom fixtures — dated and worn
• Major landscaping — overgrown and unkempt
• Major exterior fence — needs repair

Value-add opportunities

• Both update kitchen countertops and appliances — improves both resale and rental value
• Both update bathroom fixtures and layout — enhances both resale and rental appeal
• Both landscape and fence repair — enhances curb appeal and property value
• Both paint interior walls — refreshes the interior and improves curb appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen countertops · worn and outdated	Major	$15,000–50,000
bathroom fixtures · dated and worn	Major	$15,000–50,000
landscaping · overgrown and unkempt	Major	$15,000–50,000
exterior fence · needs repair	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both update kitchen countertops and appliances — improves both resale and rental value ↑
• Both update bathroom fixtures and layout — enhances both resale and rental appeal ↑
• Both landscape and fence repair — enhances curb appeal and property value ↑
• Both paint interior walls — refreshes the interior and improves curb 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): 45,170
• Household income: $48,486
• Rent vs Own: 56.2% rent · 43.8% own
• Severe rent burden: 3390.0

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 (66%)
• Race & ethnicity: Black 66% White 22% Hispanic / Latino 5% Two or more races 5% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 3% Portuguese 1% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 4% Other Asian/Pacific 1% Russian/Polish/Slavic 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: ▼ -194.98%
• Current HPI: 172.4275
• Rent YoY: ▲ 8.61%
• 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

+37.6% since first listed

9 events — show timeline

• 2026-05-26 Listed $165,000 METROMLS
• 2025-02-19 Listing Removed — METROMLS
• 2025-02-18 Listed $145,000 METROMLS
• 2024-03-08 Sold (MLS) $130,000 METROMLS
• 2024-02-05 Contingent — METROMLS
• 2024-01-29 Listed $125,000 METROMLS
• 2022-12-14 Sold (MLS) $116,000 METROMLS
• 2022-11-25 Pending — METROMLS
• 2022-10-24 Listed $119,900 METROMLS