5227 N 60th St · Milwaukee, WI 53218

$350,000

5 bd · 3.0 ba · 2,880 sqft · MultiFamily public records · 215 Days on market

Built 1953 7,840 sqft lot $122/sqft · 28% above area

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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 +21.9/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +5.6/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Don't miss out on this amazing investment property. Lower unit has 3 bed rooms and central air which makes this property a great opportunity for owner occupancy. 3 NEW furnaces and water heaters were installed 10/25. Garage parking for all 3 units, as well as extra spaces in the back. More photos to be added soon.

Key facts

• 7,840 sq ft lot
• Built 1953
• Listed 215 days

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $551 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $350k).
• Recommended offer: $308k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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 (+5.3%/yr); 153 active listings in the ZIP; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $3,701/mo this rent would consume 97% of the median local household income ($46k/yr) (locally 2421% 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 $10k 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

• It's been on market 215 days — a 12% lower offer ($308k) is reasonable based on typical stale-listing flexibility.
• 7 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 $104k; list at $350k implies a 237% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $308,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 215 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.06% ✓
• Cap rate: 8.18%
• Cash-on-cash: 6.75%
• DSCR: 1.30
• GRM: 7.9

CMA / ARV

• ARV (median comp): $729,061
• List price: $350,000
• Delta: -51.99%
• Verdict: UNDERPRICED
• Comps: 9 within 2.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4815 W Custer Ave	0.70mi	4/3.5 (-1)	2,574 (-11%)	4mo	$67,500	$26	39
7003 W Villard Ave	0.62mi	4/2.0 (-1)	2,466 (-14%)	19mo	$269,000	$109	22

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 · 5.29% rent growth · sell at horizon

5-year hold

• IRR: -3.4%
• Equity multiple: 0.87×
• Total profit: $-12,859
• Equity at exit: $52,186

10-year hold

• IRR: 8.7%
• Equity multiple: 1.73×
• Total profit: $71,630
• Equity at exit: $30,262

Cash invested: $98,000 (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 53218

• Home prices YoY: -19.0%
• Rents YoY: 5.3%
• Active inventory: 153
• Price-to-rent: 21.1×

Monthly cashflow live

• Estimated rent: $3,701 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$391 /mo · $4,696/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$777
• Net cashflow: $551

Break-even live

Break-even rent $3,003

Max offer price $350,000

Occupancy floor 80%

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,383
▸ 2× units	1	1	$2,318
Total (3 units)			$3,701

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-18
   days on market $350,000 Active 215 DOM
2. 2026-06-17
   days on market $350,000 Active 214 DOM
3. 2026-06-16
   days on market $350,000 Active 213 DOM
4. 2026-06-15
   days on market $350,000 Active 212 DOM
5. 2026-06-13
   days on market $350,000 Active 210 DOM
6. 2026-06-13
   days on market $350,000 Active 209 DOM
7. 2026-06-09
   days on market $350,000 Active 206 DOM
8. 2026-06-08
   days on market $350,000 Active 205 DOM
9. 2026-06-07
   days on market $350,000 Active 204 DOM
10. 2026-06-05
    days on market $350,000 Active 201 DOM
11. 2026-06-03
    days on market $350,000 Active 200 DOM
12. 2026-06-02
    days on market $350,000 Active 199 DOM
13. 2026-06-01
    days on market $350,000 Active 198 DOM
14. 2026-05-31
    days on market $350,000 Active 197 DOM
15. 2025-11-15
    listed $350,000 Active 315-char remark

    Show marketing remark (315 chars)

    Don't miss out on this amazing investment property. Lower unit has 3 bed rooms and central air which makes this property a great opportunity for owner occupancy. 3 NEW furnaces and water heaters were installed 10/25. Garage parking for all 3 units, as well as extra spaces in the back. More photos to be added soon.

16. 2012-11-30
    historical 471-char remark

    Show marketing remark (471 chars)

    3 NEW FURNACES * 2 NEW H2O'S * NEW A/C IN LOWER UNIT. Well maintained 3-Family with both indoor and outdoor parking. Two units rented w/ leases. Plan to stay. Lower-3BR, 1BA, Eat-in Kitchen & CENTRAL AIR. Unit A & B; 1BR, 1BA. Decent Basement with toilet. NEWER 3 car garage with loft for storage, could fit 4 cars. All appliances included. Newer Cement driveway. QUALIFIED BUYERS ONLY. IF CANCELLING APPT. PLEASE CALL IN ADVANCE TO CANCEL. COURTESY TO TENNANT.

17. 2012-11-30
    listed $123,000 471-char remark

    Show marketing remark (471 chars)

    3 NEW FURNACES * 2 NEW H2O'S * NEW A/C IN LOWER UNIT. Well maintained 3-Family with both indoor and outdoor parking. Two units rented w/ leases. Plan to stay. Lower-3BR, 1BA, Eat-in Kitchen & CENTRAL AIR. Unit A & B; 1BR, 1BA. Decent Basement with toilet. NEWER 3 car garage with loft for storage, could fit 4 cars. All appliances included. Newer Cement driveway. QUALIFIED BUYERS ONLY. IF CANCELLING APPT. PLEASE CALL IN ADVANCE TO CANCEL. COURTESY TO TENNANT.

18. 2012-11-30
    historical

    Show marketing remark (471 chars)

    3 NEW FURNACES * 2 NEW H2O'S * NEW A/C IN LOWER UNIT. Well maintained 3-Family with both indoor and outdoor parking. Two units rented w/ leases. Plan to stay. Lower-3BR, 1BA, Eat-in Kitchen & CENTRAL AIR. Unit A & B; 1BR, 1BA. Decent Basement with toilet. NEWER 3 car garage with loft for storage, could fit 4 cars. All appliances included. Newer Cement driveway. QUALIFIED BUYERS ONLY. IF CANCELLING APPT. PLEASE CALL IN ADVANCE TO CANCEL. COURTESY TO TENNANT.

19. 2012-11-30
    listed $115,000

    Show marketing remark (471 chars)

    3 NEW FURNACES * 2 NEW H2O'S * NEW A/C IN LOWER UNIT. Well maintained 3-Family with both indoor and outdoor parking. Two units rented w/ leases. Plan to stay. Lower-3BR, 1BA, Eat-in Kitchen & CENTRAL AIR. Unit A & B; 1BR, 1BA. Decent Basement with toilet. NEWER 3 car garage with loft for storage, could fit 4 cars. All appliances included. Newer Cement driveway. QUALIFIED BUYERS ONLY. IF CANCELLING APPT. PLEASE CALL IN ADVANCE TO CANCEL. COURTESY TO TENNANT.

20. 2012-11-30
    historical

    Show marketing remark (471 chars)

    3 NEW FURNACES * 2 NEW H2O'S * NEW A/C IN LOWER UNIT. Well maintained 3-Family with both indoor and outdoor parking. Two units rented w/ leases. Plan to stay. Lower-3BR, 1BA, Eat-in Kitchen & CENTRAL AIR. Unit A & B; 1BR, 1BA. Decent Basement with toilet. NEWER 3 car garage with loft for storage, could fit 4 cars. All appliances included. Newer Cement driveway. QUALIFIED BUYERS ONLY. IF CANCELLING APPT. PLEASE CALL IN ADVANCE TO CANCEL. COURTESY TO TENNANT.

21. 2012-11-30
    listed $119,999

    Show marketing remark (471 chars)

    3 NEW FURNACES * 2 NEW H2O'S * NEW A/C IN LOWER UNIT. Well maintained 3-Family with both indoor and outdoor parking. Two units rented w/ leases. Plan to stay. Lower-3BR, 1BA, Eat-in Kitchen & CENTRAL AIR. Unit A & B; 1BR, 1BA. Decent Basement with toilet. NEWER 3 car garage with loft for storage, could fit 4 cars. All appliances included. Newer Cement driveway. QUALIFIED BUYERS ONLY. IF CANCELLING APPT. PLEASE CALL IN ADVANCE TO CANCEL. COURTESY TO TENNANT.

22. 2012-11-30
    listed $123,000

    Show marketing remark (471 chars)

    3 NEW FURNACES * 2 NEW H2O'S * NEW A/C IN LOWER UNIT. Well maintained 3-Family with both indoor and outdoor parking. Two units rented w/ leases. Plan to stay. Lower-3BR, 1BA, Eat-in Kitchen & CENTRAL AIR. Unit A & B; 1BR, 1BA. Decent Basement with toilet. NEWER 3 car garage with loft for storage, could fit 4 cars. All appliances included. Newer Cement driveway. QUALIFIED BUYERS ONLY. IF CANCELLING APPT. PLEASE CALL IN ADVANCE TO CANCEL. COURTESY TO TENNANT.

23. 2012-11-30
    historical

    Show marketing remark (471 chars)

    3 NEW FURNACES * 2 NEW H2O'S * NEW A/C IN LOWER UNIT. Well maintained 3-Family with both indoor and outdoor parking. Two units rented w/ leases. Plan to stay. Lower-3BR, 1BA, Eat-in Kitchen & CENTRAL AIR. Unit A & B; 1BR, 1BA. Decent Basement with toilet. NEWER 3 car garage with loft for storage, could fit 4 cars. All appliances included. Newer Cement driveway. QUALIFIED BUYERS ONLY. IF CANCELLING APPT. PLEASE CALL IN ADVANCE TO CANCEL. COURTESY TO TENNANT.

24. 2012-11-30
    historical

    Show marketing remark (471 chars)

    3 NEW FURNACES * 2 NEW H2O'S * NEW A/C IN LOWER UNIT. Well maintained 3-Family with both indoor and outdoor parking. Two units rented w/ leases. Plan to stay. Lower-3BR, 1BA, Eat-in Kitchen & CENTRAL AIR. Unit A & B; 1BR, 1BA. Decent Basement with toilet. NEWER 3 car garage with loft for storage, could fit 4 cars. All appliances included. Newer Cement driveway. QUALIFIED BUYERS ONLY. IF CANCELLING APPT. PLEASE CALL IN ADVANCE TO CANCEL. COURTESY TO TENNANT.

25. 2012-11-30
    listed $123,000

    Show marketing remark (471 chars)

    3 NEW FURNACES * 2 NEW H2O'S * NEW A/C IN LOWER UNIT. Well maintained 3-Family with both indoor and outdoor parking. Two units rented w/ leases. Plan to stay. Lower-3BR, 1BA, Eat-in Kitchen & CENTRAL AIR. Unit A & B; 1BR, 1BA. Decent Basement with toilet. NEWER 3 car garage with loft for storage, could fit 4 cars. All appliances included. Newer Cement driveway. QUALIFIED BUYERS ONLY. IF CANCELLING APPT. PLEASE CALL IN ADVANCE TO CANCEL. COURTESY TO TENNANT.

26. 2012-11-30
    listed $124,000

    Show marketing remark (471 chars)

    3 NEW FURNACES * 2 NEW H2O'S * NEW A/C IN LOWER UNIT. Well maintained 3-Family with both indoor and outdoor parking. Two units rented w/ leases. Plan to stay. Lower-3BR, 1BA, Eat-in Kitchen & CENTRAL AIR. Unit A & B; 1BR, 1BA. Decent Basement with toilet. NEWER 3 car garage with loft for storage, could fit 4 cars. All appliances included. Newer Cement driveway. QUALIFIED BUYERS ONLY. IF CANCELLING APPT. PLEASE CALL IN ADVANCE TO CANCEL. COURTESY TO TENNANT.

27. 2012-11-30
    historical

    Show marketing remark (471 chars)

    3 NEW FURNACES * 2 NEW H2O'S * NEW A/C IN LOWER UNIT. Well maintained 3-Family with both indoor and outdoor parking. Two units rented w/ leases. Plan to stay. Lower-3BR, 1BA, Eat-in Kitchen & CENTRAL AIR. Unit A & B; 1BR, 1BA. Decent Basement with toilet. NEWER 3 car garage with loft for storage, could fit 4 cars. All appliances included. Newer Cement driveway. QUALIFIED BUYERS ONLY. IF CANCELLING APPT. PLEASE CALL IN ADVANCE TO CANCEL. COURTESY TO TENNANT.

28. 2012-05-23
    soldstatus $104,000
29. 2012-05-15
    soldstatus $104,000
30. 1997-09-05
    soldstatus $82,500
31. 1997-08-01
    soldstatus $82,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast WI · Partial reset (capped growth)

• Current annual tax: $4,696 · $391/mo
• Projected year-2 tax: $5,585 · $465/mo
• Expected delta: +$890/yr (+$74/mo · 18.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°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: $44,412
• − Mortgage interest: −$19,605
• − Property taxes: −$4,696
• − Insurance: −$1,750
• − Repairs & maintenance: −$3,553
• − Management: −$3,553
• − Depreciation: −$10,182
• Taxable income: $1,073
• Est. tax owed @ 24.0%: −$258
• After-tax cash flow: $6,357/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): 41,196
• Household income: $45,642
• Rent vs Own: 57.1% rent · 42.9% own
• Severe rent burden: 2421.0

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 (72%)
• Race & ethnicity: Black 72% Asian 10% White 10% Hispanic / Latino 5% Two or more races 3%
• Common ancestry: Romanian 1% Lithuanian 1%
• Foreign-born: 6% · Philippines, Canada
• Languages at home: 89% English-only · Other Asian/Pacific 7% Spanish 3%

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: ▼ -76.44%
• Current HPI: 325.1975
• Rent YoY: ▲ 5.29%
• 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

+324.2% since first listed

17 events — show timeline

• 2025-11-15 Listed $350,000 METROMLS
• 2012-11-30 Listed $123,000 METROMLS
• 2012-11-30 Listing Removed — METROMLS
• 2012-11-30 Listed $115,000 METROMLS
• 2012-11-30 Listing Removed — METROMLS
• 2012-11-30 Listed $119,999 METROMLS
• 2012-11-30 Listing Removed — METROMLS
• 2012-11-30 Listing Removed — METROMLS
• 2012-11-30 Listed $123,000 METROMLS
• 2012-11-30 Listed $123,000 METROMLS
• 2012-11-30 Listing Removed — METROMLS
• 2012-11-30 Listing Removed — METROMLS
• 2012-11-30 Listed $124,000 METROMLS
• 2012-05-23 Sold (Public Records) $104,000 Public Records
• 2012-05-15 Sold (MLS) $104,000 METROMLS
• 1997-09-05 Sold (Public Records) $82,500 Public Records
• 1997-08-01 Sold (Public Records) $82,500 Public Records

Property tax history

+1.7%/yr

Latest (2024): $4,696 · +84.2% YoY. Source: county tax records.