2956 N 44th St · Milwaukee, WI 53210

$189,500

4 bd · 2.0 ba · 2,132 sqft · MultiFamily · 33 Days on market

Built 1923 4,356 sqft lot Est $147k · 29% 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 +25.5/30.0
• DSCR +8.5/10.0
• 1% rule +6.7/10.0
• Livability +4.0/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• 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

Beautiful renovated single family home that was converted from a 3/2 duplex. Minor repairs needed as follows, need a new front door, screen door, rear door and pantry completed. There are various areas in the house that needs trim installed. Garage needs some TLC. There's an additional bathroom in the basement that needs to be installed, the plumbing has already been ran. The buyer can easily convert this property back into a duplex if necessary. The seller is willing to work out a deal with the following defects to pass FHA guidelines with a reasonable offer.

Key facts

• Refreshed kitchens
• One car garage
• Refreshed bathrooms

Tags

• REFRESHED KITCHENS
• REFRESHED BATHROOMS
• ONE CAR GARAGE
• HOUSE HACKING OPPORTUNITY

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $190k.

Deal economics

• At list price, monthly cash flow is $443 ($5k/yr) — positive. Per door: $222/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $184k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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 (+3.8%/yr); 142 active listings in the ZIP; 8 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 $2,219/mo this rent would consume 55% of the median local household income ($48k/yr) (locally 1730% 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 $6k 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 + 3.8% rent growth), your $53k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($184k) 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.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $183,815 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 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 1923 — 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: 1.17% ✓
• Cap rate: 9.10%
• Cash-on-cash: 10.03%
• DSCR: 1.45
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $147,108
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3024 N 44th St	0.08mi	4/2.0	1,998 (-6%)	1mo	$120,775	$60	85
2866 N 52nd St #2868	0.51mi	4/2.0	2,215 (+4%)	1mo	$257,000	$116	69
2834 N 54th St Unit 2834A	0.64mi	4/2.0	2,080 (-2%)	0mo	$175,000	$84	66
2576 N 51st St #2578	0.65mi	4/2.0	2,178 (+2%)	1mo	$149,900	$69	66
2808 N 52nd St #2810	0.54mi	4/2.0	2,292 (+8%)	1mo	$153,000	$67	61
3068 N 34th St Unit 3068A	0.65mi	5/2.0 (+1)	2,087 (-2%)	0mo	$110,000	$53	61
3037 N 53rd St	0.60mi	4/2.0	2,257 (+6%)	2mo	$161,000	$71	61
2642 N 51st St #2644	0.60mi	4/2.0	2,294 (+8%)	1mo	$122,500	$53	59
3044 N 54th St #3046	0.62mi	4/2.0	2,279 (+7%)	0mo	$200,000	$88	59
3128 N 52nd St #3130	0.54mi	4/2.0	2,400 (+13%)	0mo	$283,000	$118	54
3023 N 52nd St #3025	0.54mi	4/2.0	2,408 (+13%)	2mo	$139,900	$58	52
2873 N 34th St #2875	0.61mi	4/2.0	1,888 (-11%)	1mo	$108,500	$57	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 · 3.82% rent growth · sell at horizon

5-year hold

• IRR: -0.3%
• Equity multiple: 0.99×
• Total profit: $-586
• Equity at exit: $28,255

10-year hold

• IRR: 10.2%
• Equity multiple: 1.82×
• Total profit: $43,692
• Equity at exit: $16,384

Cash invested: $53,060 (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 53210

• Home prices YoY: -21.5%
• Rents YoY: 3.8%
• Active inventory: 142
• Price-to-rent: 14.2×

Monthly cashflow live

• Estimated rent: $2,219 high
• Mortgage (P&I): −$994
• Tax est. 1.5%: −$237 /mo · $2,842/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$466
• Net cashflow: $443

Break-even live

Break-even rent $1,658

Max offer price $189,500

Occupancy floor 75%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,218
Total (2 units)			$2,219

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: $47,375
• Closing costs: $5,685
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3123 N 42nd St Milwaukee, WI	4.0	1.0	1500	$1,700	$1.13	23d	1	0.22mi
2976 N 49th St Milwaukee, WI	3.0	1.0	1700	$1,300	$0.76	17d	1	0.33mi
2713 N 44th St Milwaukee, WI	3.0	1.0	1450	$1,350	$0.93	44d	1	0.33mi
2137 N 47th St Milwaukee, WI	5.0	2.0	1723	$1,850	$1.07	14d	1	1.07mi
2809 W Clarke St Unit 12811 Milwaukee, WI	3.0	1.0	1400	$1,200	$0.86	17d	1	1.08mi
2704 W Concordia Ave Unit Na Milwaukee, WI	5.0	2.0	1856	$2,500	$1.35	23d	1	1.13mi
2432 N 28th St Milwaukee, WI	5.0	1.5	1876	$1,600	$0.85	44d	1	1.20mi
2308 W Clarke St Milwaukee, WI	4.0	2.0	1545	$1,750	$1.13	23d	1	1.41mi

Listing history 11 events

1. 2026-02-18
   status Pending
2. 2026-01-16
   listed $189,500 Active
3. 2023-12-14
   price $144,000 567-char remark

   Show marketing remark (567 chars)

   Beautiful renovated single family home that was converted from a 3/2 duplex. Minor repairs needed as follows, need a new front door, screen door, rear door and pantry completed. There are various areas in the house that needs trim installed. Garage needs some TLC. There's an additional bathroom in the basement that needs to be installed, the plumbing has already been ran. The buyer can easily convert this property back into a duplex if necessary. The seller is willing to work out a deal with the following defects to pass FHA guidelines with a reasonable offer.

4. 2023-12-14
   historical 567-char remark

   Show marketing remark (567 chars)

   Beautiful renovated single family home that was converted from a 3/2 duplex. Minor repairs needed as follows, need a new front door, screen door, rear door and pantry completed. There are various areas in the house that needs trim installed. Garage needs some TLC. There's an additional bathroom in the basement that needs to be installed, the plumbing has already been ran. The buyer can easily convert this property back into a duplex if necessary. The seller is willing to work out a deal with the following defects to pass FHA guidelines with a reasonable offer.

5. 2023-10-30
   listed $155,000 Active 567-char remark

   Show marketing remark (567 chars)

   Beautiful renovated single family home that was converted from a 3/2 duplex. Minor repairs needed as follows, need a new front door, screen door, rear door and pantry completed. There are various areas in the house that needs trim installed. Garage needs some TLC. There's an additional bathroom in the basement that needs to be installed, the plumbing has already been ran. The buyer can easily convert this property back into a duplex if necessary. The seller is willing to work out a deal with the following defects to pass FHA guidelines with a reasonable offer.

6. 2022-11-11
   historical 379-char remark

   Show marketing remark (379 chars)

   2,132 sq ft rent rolling duplex perfect for any investor or homebuyer. This property is always rented never a vacancy. Building features 2 2-bedroom 1-bathroom units. Rents are currently at $550 for both units. Vacant at close is an option, tenants are on month-to-month lease. The duplex is on a 4,400 sq ft lot with a detached car garage. Sherman Park is only one a block away.

7. 2022-10-18
   price $59,900 379-char remark

   Show marketing remark (379 chars)

   2,132 sq ft rent rolling duplex perfect for any investor or homebuyer. This property is always rented never a vacancy. Building features 2 2-bedroom 1-bathroom units. Rents are currently at $550 for both units. Vacant at close is an option, tenants are on month-to-month lease. The duplex is on a 4,400 sq ft lot with a detached car garage. Sherman Park is only one a block away.

8. 2022-09-20
   price $72,000 379-char remark

   Show marketing remark (379 chars)

   2,132 sq ft rent rolling duplex perfect for any investor or homebuyer. This property is always rented never a vacancy. Building features 2 2-bedroom 1-bathroom units. Rents are currently at $550 for both units. Vacant at close is an option, tenants are on month-to-month lease. The duplex is on a 4,400 sq ft lot with a detached car garage. Sherman Park is only one a block away.

9. 2022-09-20
   status Active 379-char remark

   Show marketing remark (379 chars)

   2,132 sq ft rent rolling duplex perfect for any investor or homebuyer. This property is always rented never a vacancy. Building features 2 2-bedroom 1-bathroom units. Rents are currently at $550 for both units. Vacant at close is an option, tenants are on month-to-month lease. The duplex is on a 4,400 sq ft lot with a detached car garage. Sherman Park is only one a block away.

10. 2022-09-16
    historical Contingent 379-char remark

    Show marketing remark (379 chars)

    2,132 sq ft rent rolling duplex perfect for any investor or homebuyer. This property is always rented never a vacancy. Building features 2 2-bedroom 1-bathroom units. Rents are currently at $550 for both units. Vacant at close is an option, tenants are on month-to-month lease. The duplex is on a 4,400 sq ft lot with a detached car garage. Sherman Park is only one a block away.

11. 2022-09-02
    listed $79,900 Active 379-char remark

    Show marketing remark (379 chars)

    2,132 sq ft rent rolling duplex perfect for any investor or homebuyer. This property is always rented never a vacancy. Building features 2 2-bedroom 1-bathroom units. Rents are currently at $550 for both units. Vacant at close is an option, tenants are on month-to-month lease. The duplex is on a 4,400 sq ft lot with a detached car garage. Sherman Park is only one a block away.

ⓘ 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: $26,628
• − Mortgage interest: −$10,615
• − Property taxes: −$2,842
• − Insurance: −$948
• − Repairs & maintenance: −$2,130
• − Management: −$2,130
• − Depreciation: −$5,513
• Taxable income: $2,450
• Est. tax owed @ 24.0%: −$588
• After-tax cash flow: $4,733/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): 23,922
• Household income: $48,217
• Rent vs Own: 60.4% rent · 39.6% own
• Severe rent burden: 1730.0

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 (71%)
• Race & ethnicity: Black 71% White 17% Hispanic / Latino 6% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Romanian 2% Portuguese 1% Italian 1%
• Foreign-born: 3% · Canada, Philippines
• Languages at home: 94% English-only · Spanish 3% 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: ▼ -76.77%
• Current HPI: 280.0133
• Rent YoY: ▲ 3.82%
• 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

+137.2% since first listed

11 events — show timeline

• 2026-02-18 Pending — METROMLS
• 2026-01-16 Listed $189,500 METROMLS
• 2023-12-14 Price Changed $144,000 METROMLS
• 2023-12-14 Listing Removed — METROMLS
• 2023-10-30 Listed $155,000 METROMLS
• 2022-11-11 Listing Removed — METROMLS
• 2022-10-18 Price Changed $59,900 METROMLS
• 2022-09-20 Price Changed $72,000 METROMLS
• 2022-09-20 Relisted — METROMLS
• 2022-09-16 Contingent — METROMLS
• 2022-09-02 Listed $79,900 METROMLS