3719 N Vel R Phillips Ave #3721 · Milwaukee, WI 53212

$160,000

4 bd · 2.0 ba · 2,086 sqft · MultiFamily · 15 Days on market

Built 1924 Average condition 3,920 sqft lot $77/sqft · 30% above area Est $123k · 30% over

---

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
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Condition / age +2.8/5.0
• Schools +1.2/10.0
• ARV discount +0.0/15.0
• 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

Solid, low-maintenance duplex in Milwaukee's Harambee neighborhood. Two 2BR/1BA units. Lower unit will be occupied 5/5 w rent being $1100 and $1,135 upper rent. Functional layouts, easy-care finishes, and convenient access to transit, schools, and downtown. Great option for owner-occupants or investors looking for reliable cash flow.

Key facts

• Functional layouts
• Easy-care finishes
• 3,920 sq ft lot

Tags

• LOW-MAINTENANCE DUPLEX
• FUNCTIONAL LAYOUTS
• EASY-CARE FINISHES
• CONVENIENT ACCESS TO TRANSIT
• CONVENIENT ACCESS TO SCHOOLS
• CONVENIENT ACCESS TO DOWNTOWN

Property features AI

Finance

• Other: Includes 2 stoves and 2 refrigerators; seller and tenant personal property excluded

Exterior

• Utilities: Municipal water; Municipal sewer; 2 electric meters; 2 gas meters
• Home design: 2-story duplex; Multi-family property; Zoned RT4
• Construction: Information source: Assessor/Public Record
• Exterior features: Wood exterior; Lot less than 1/2 acre

Interior

• Kitchen: Unit 2 kitchen located on upper level (approx. 11 x 11); Includes 2 stoves and 2 refrigerators
• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 2 bedrooms (master on upper level, approx. 11 x 11)
• Bathrooms: Unit 1: 1 full bathroom; Unit 2: 1 full bathroom
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 2 × 2.0-bed/1.0-bath units multifamily listed at $160k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $662 ($8k/yr) — positive. Per door: $331/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $158k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.3% 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; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% 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 $2,238/mo this rent would consume 57% 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 $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 + 5.0% rent growth), your $45k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 13y 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 $115k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $157,600 (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. Built in 1924 — 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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.40% ✓
• Cap rate: 11.26%
• Cash-on-cash: 17.74%
• DSCR: 1.79
• GRM: 6.0

CMA / ARV

• ARV (median comp): $123,243
• List price: $160,000
• Delta: 29.82%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3906 N 6th St #3908	0.32mi	4/2.0	2,223 (+7%)	4mo	$134,900	$61	71
3341 N 3rd St #3343	0.32mi	4/2.0	2,292 (+10%)	4mo	$109,000	$48	65
3452 N 1st St Unit 3452A	0.32mi	5/2.0 (+1)	1,908 (-8%)	1mo	$130,000	$68	65
3258 N 12th St #3260	0.70mi	4/2.0	2,086 (0%)	3mo	$51,000	$24	65
3613 N 11th St	0.50mi	4/2.0	2,197 (+5%)	6mo	$35,000	$16	63
608 W Burleigh St #610	0.68mi	4/2.0	2,174 (+4%)	3mo	$112,000	$52	59
3730 N 11th St #3732	0.47mi	5/2.0 (+1)	2,210 (+6%)	6mo	$149,000	$67	59
4071 N 12th St Unit 4071A	0.72mi	3/2.0 (-1)	2,045 (-2%)	1mo	$110,000	$54	57
3701 N 14th St #3703	0.69mi	4/2.0	2,174 (+4%)	4mo	$90,000	$41	57
3358 N Richards St #3364	0.51mi	4/2.0	1,858 (-11%)	1mo	$95,000	$51	57
3905 N 13th St #3907	0.67mi	4/2.0	1,884 (-10%)	2mo	$144,500	$77	51
3615 N 13th St	0.62mi	4/2.0	2,326 (+12%)	1mo	$90,000	$39	51

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: 11.5%
• Equity multiple: 1.47×
• Total profit: $20,882
• Equity at exit: $23,857

10-year hold

• IRR: 22.0%
• Equity multiple: 3.06×
• Total profit: $92,272
• Equity at exit: $13,834

Cash invested: $44,800 (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: 11.9×

Monthly cashflow live

• Estimated rent: $2,238 high
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,400/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$470
• Net cashflow: $662

Break-even live

Break-even rent $1,400

Max offer price $160,000

Occupancy floor 65%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2.0	1	$2,238
Total (2 units)			$2,238

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3420-22 N Vel R Phillips Ave Milwaukee, WI	3.0	1.0	2756	$1,195	$0.43	43d	1	0.22mi
3420 N Vel R. Phillips Ave Unit 3422 Milwaukee, WI	3.0	1.0	2756	$1,195	$0.43	43d	1	0.22mi
312 E Townsend St Unit 312 Milwaukee, WI	3.0	1.0	1400	$1,250	$0.89	23d	1	0.47mi
3042 N Palmer St #5 Milwaukee, WI	3.0	1.0	1718	$1,050	$0.61	23d	1	0.76mi
2634 N Doctor M.L.K. Jr Dr Milwaukee, WI	5.0	2.5	2512	$3,700	$1.47	43d	1	1.21mi
2772 N Bremen St #2774 Milwaukee, WI	3.0	1.0	1500	$1,795	$1.20	43d	1	1.28mi
2116 W Atkinson Ave Unit A Milwaukee, WI	4.0	1.0	1707	$2,000	$1.17	1d	1	1.31mi
3131 N Bartlett Ave Unit 1 Milwaukee, WI	4.0	1.0	1600	$1,750	$1.09	43d	1	1.42mi

Listing history 49 events

1. 2026-06-18
   days on market $160,000 Active 15 DOM
2. 2026-06-17
   days on market $160,000 Active 14 DOM
3. 2026-06-16
   days on market $160,000 Active 13 DOM
4. 2026-06-15
   days on market $160,000 Active 12 DOM
5. 2026-06-13
   days on market $160,000 Active 10 DOM
6. 2026-06-13
   days on market $160,000 Active 9 DOM
7. 2026-06-09
   days on market $160,000 Active 6 DOM
8. 2026-06-08
   days on market $160,000 Active 5 DOM
9. 2026-06-07
   days on market $160,000 Active 4 DOM
10. 2026-06-05
    days on marketlisting id $160,000 Active 1 DOM
11. 2026-06-02
    days on market $160,000 Active 70 DOM
12. 2026-06-01
    days on market $160,000 Active 69 DOM
13. 2026-05-31
    days on market $160,000 Active 68 DOM
14. 2026-05-01
    price $164,000 336-char remark

    Show marketing remark (336 chars)

    Solid, low-maintenance duplex in Milwaukee's Harambee neighborhood. Two 2BR/1BA units. Lower unit will be occupied 5/5 w rent being $1100 and $1,135 upper rent. Functional layouts, easy-care finishes, and convenient access to transit, schools, and downtown. Great option for owner-occupants or investors looking for reliable cash flow.

15. 2026-04-11
    price $167,000 336-char remark

    Show marketing remark (336 chars)

    Solid, low-maintenance duplex in Milwaukee's Harambee neighborhood. Two 2BR/1BA units. Lower unit will be occupied 5/5 w rent being $1100 and $1,135 upper rent. Functional layouts, easy-care finishes, and convenient access to transit, schools, and downtown. Great option for owner-occupants or investors looking for reliable cash flow.

16. 2026-03-25
    listed $170,000 Active 336-char remark

    Show marketing remark (273 chars)

    Solid, low-maintenance duplex in Milwaukee's Harambee neighborhood. Two 2BR/1BA units with $950 lower rent and $925 upper rent. . Functional layouts, easy-care finishes, and convenient access to transit, schools, and downtown. Great option for owner-occupants or investors.

17. 2026-03-25
    historical 273-char remark

    Show marketing remark (273 chars)

    Solid, low-maintenance duplex in Milwaukee's Harambee neighborhood. Two 2BR/1BA units with $950 lower rent and $925 upper rent. . Functional layouts, easy-care finishes, and convenient access to transit, schools, and downtown. Great option for owner-occupants or investors.

18. 2026-02-10
    price $165,000 273-char remark

    Show marketing remark (273 chars)

    Solid, low-maintenance duplex in Milwaukee's Harambee neighborhood. Two 2BR/1BA units with $950 lower rent and $925 upper rent. . Functional layouts, easy-care finishes, and convenient access to transit, schools, and downtown. Great option for owner-occupants or investors.

19. 2026-01-23
    price $170,000 273-char remark

    Show marketing remark (273 chars)

    Solid, low-maintenance duplex in Milwaukee's Harambee neighborhood. Two 2BR/1BA units with $950 lower rent and $925 upper rent. . Functional layouts, easy-care finishes, and convenient access to transit, schools, and downtown. Great option for owner-occupants or investors.

20. 2025-12-04
    price $175,000 273-char remark

    Show marketing remark (273 chars)

    Solid, low-maintenance duplex in Milwaukee's Harambee neighborhood. Two 2BR/1BA units with $950 lower rent and $925 upper rent. . Functional layouts, easy-care finishes, and convenient access to transit, schools, and downtown. Great option for owner-occupants or investors.

21. 2025-12-04
    listed $160,000 Active 273-char remark

    Show marketing remark (273 chars)

    Solid, low-maintenance duplex in Milwaukee's Harambee neighborhood. Two 2BR/1BA units with $950 lower rent and $925 upper rent. . Functional layouts, easy-care finishes, and convenient access to transit, schools, and downtown. Great option for owner-occupants or investors.

22. 2025-11-30
    historical $160,000 273-char remark

    Show marketing remark (273 chars)

    Solid, low-maintenance duplex in Milwaukee's Harambee neighborhood. Two 2BR/1BA units with $950 lower rent and $925 upper rent. . Functional layouts, easy-care finishes, and convenient access to transit, schools, and downtown. Great option for owner-occupants or investors.

23. 2023-10-24
    soldstatus $115,000 Sold
24. 2023-09-15
    historical Contingent
25. 2023-09-02
    listed $125,000 Active
26. 2022-10-27
    soldstatus $96,000 Sold
27. 2022-09-17
    historical Contingent
28. 2022-08-31
    listed $99,900 Active
29. 2022-08-27
    historical
30. 2022-08-16
    price $100,000
31. 2022-07-08
    status Active
32. 2022-06-30
    status Pending
33. 2022-06-28
    price $112,500
34. 2022-05-11
    price $115,000
35. 2022-03-29
    price $120,000
36. 2022-03-07
    listed $125,900 Active
37. 2020-09-03
    soldstatus $80,000 Sold
38. 2020-09-01
    historical
39. 2020-07-27
    historical Contingent
40. 2020-06-22
    status Active
41. 2020-05-26
    historical Contingent
42. 2020-03-24
    status Active
43. 2020-03-06
    historical Contingent
44. 2020-01-16
    listed $89,000 Active
45. 2020-01-01
    historical
46. 2019-06-18
    listed $99,900 Active
47. 2013-11-30
    historical
48. 2013-11-30
    listed $22,900
49. 2013-11-27
    soldstatus $21,500

ⓘ 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,856
• − Mortgage interest: −$8,962
• − Property taxes: −$2,400
• − Insurance: −$800
• − Repairs & maintenance: −$2,148
• − Management: −$2,148
• − Depreciation: −$4,655
• Taxable income: $5,742
• Est. tax owed @ 24.0%: −$1,378
• After-tax cash flow: $6,569/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 · 9 photos

Average 55/100 Cosmetic rehab

A low-maintenance duplex with average condition, requiring cosmetic repairs and updates to enhance its resale and rental value.

Repairs flagged

• Minor kitchen cabinets — dated and could be replaced
• Minor bathroom fixtures — dated and could be replaced
• Moderate exterior paint — moderate wear and could be refreshed

Value-add opportunities

• Both paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both replace kitchen cabinets — Modern cabinets improve functionality and aesthetics
• Both replace bathroom fixtures — Upgraded fixtures enhance functionality and aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and could be replaced	Minor	$500–3,000
bathroom fixtures · dated and could be replaced	Minor	$500–3,000
exterior paint · moderate wear and could be refreshed	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$4,000–21,000

Value-add ROI direction

• Both paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both replace kitchen cabinets — Modern cabinets improve functionality and aesthetics ↑
• Both replace bathroom fixtures — Upgraded fixtures enhance functionality and aesthetics ↑

ⓘ 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): 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

+644.2% since first listed

39 events — show timeline

• 2026-06-03 Listing Removed — METROMLS
• 2026-06-03 Listed $160,000 METROMLS
• 2026-05-27 Price Changed $160,000 METROMLS
• 2026-05-01 Price Changed $164,000 METROMLS
• 2026-04-11 Price Changed $167,000 METROMLS
• 2026-03-25 Listed $170,000 METROMLS
• 2026-03-25 Listing Removed — METROMLS
• 2026-02-10 Price Changed $165,000 METROMLS
• 2026-01-23 Price Changed $170,000 METROMLS
• 2025-12-04 Price Changed $175,000 METROMLS
• 2025-12-04 Listed $160,000 METROMLS
• 2025-11-30 Coming Soon $160,000 METROMLS
• 2023-10-24 Sold (MLS) $115,000 METROMLS
• 2023-09-15 Contingent — METROMLS
• 2023-09-02 Listed $125,000 METROMLS
• 2022-10-27 Sold (MLS) $96,000 METROMLS
• 2022-09-17 Contingent — METROMLS
• 2022-08-31 Listed $99,900 METROMLS
• 2022-08-27 Listing Removed — METROMLS
• 2022-08-16 Price Changed $100,000 METROMLS
• 2022-07-08 Relisted — METROMLS
• 2022-06-30 Pending — METROMLS
• 2022-06-28 Price Changed $112,500 METROMLS
• 2022-05-11 Price Changed $115,000 METROMLS
• 2022-03-29 Price Changed $120,000 METROMLS
• 2022-03-07 Listed $125,900 METROMLS
• 2020-09-03 Sold (MLS) $80,000 METROMLS
• 2020-09-01 Listing Removed — METROMLS
• 2020-07-27 Contingent — METROMLS
• 2020-06-22 Relisted — METROMLS
• 2020-05-26 Contingent — METROMLS
• 2020-03-24 Relisted — METROMLS
• 2020-03-06 Contingent — METROMLS
• 2020-01-16 Listed $89,000 METROMLS
• 2020-01-01 Listing Removed — METROMLS
• 2019-06-18 Listed $99,900 METROMLS
• 2013-11-30 Listed $22,900 METROMLS
• 2013-11-30 Listing Removed — METROMLS
• 2013-11-27 Sold (MLS) $21,500 METROMLS