1322 W Hopkins St Unit 1322-A · Milwaukee, WI 53206

$78,000

4 bd · 2.0 ba · 1,758 sqft · SingleFamily · 2 Days on market

Built 1900 2,178 sqft lot Est $90k · 13% under

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Why this score? — see what drove the A 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
• ARV discount +13.4/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Rent growth +4.6/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks

REHABBERS AND LANDLORDS: This 2/2 Duplex with a full basement needs your cosmetic cleanup. Upper unit is rented for $750/mo MTM giving you instant cash flow, and the lower is vacant for your fix-up. Your tenants pay their own heat and electricity. All mechanicals are upgraded, including circuit breakers and newer furnaces & water heaters. It has maintenance-free vinyl siding and most windows are newer vinyl. Make this a cash-flowing addition to your rental portfolio. Sold in AS-IS condition. Room sizes are estimated.

Key facts

• 2,178 sq ft lot
• Built 1900

Property features AI

Finance

• Other: All items on the premises as of closing are included without warranties; no exclusions listed
• Financial info: Total of 2 units in the building
• HOA & community: No yearly HOA fee

Exterior

• Utilities: Municipal water; Municipal sewer; 2 electric meters; 2 gas meters
• Home design: Duplex, 2-story; Multi-family property; Estimated living area between 751 and 1,000 sq ft per unit
• Construction: Less than 1/2 acre lot (approximately 0.05 acre); Year built information from assessor/public record
• Exterior features: Vinyl exterior; Zoning: RT4 (two-family residential)

Interior

• Kitchen: Unit 2 kitchen on upper level
• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 2 bedrooms (master on upper level)
• 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 4-bed/2.0-bath single-family listed at $78k.

Deal economics

• At list price, monthly cash flow is $810 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $78k).
• Cap rate 18.8% 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 (+8.3%/yr); 150 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $1,708/mo this rent would consume 70% of the median local household income ($29k/yr) (locally 2061% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $8k of equity ($539 loan paydown + $8k appreciation (10.0% local appreciation)).
• Milwaukee County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 8.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y 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 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $78,000

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.19% ✓
• Cap rate: 18.75%
• Cash-on-cash: 44.50%
• DSCR: 2.98
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $89,658
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2814 N 12th St	0.11mi	4/4.0	1,867 (+6%)	2mo	$60,000	$32	75
2436 N 16th St	0.44mi	4/2.0	1,668 (-5%)	1mo	$50,000	$30	70
1809 W Wright St	0.50mi	3/2.5 (-1)	1,771 (+1%)	1mo	$230,000	$130	68
1122 W Wright St	0.31mi	5/1.0 (+1)	1,810 (+3%)	4mo	$43,500	$24	68
3146 N 15th St	0.53mi	5/1.5 (+1)	1,761 (+0%)	5mo	$90,000	$51	64
2774 N 7th St	0.42mi	3/2.0 (-1)	1,640 (-7%)	2mo	$164,000	$100	63
3206 N 12th St	0.58mi	4/1.0	1,710 (-3%)	3mo	$25,800	$15	62
3230 N 12th St	0.61mi	5/1.0 (+1)	1,762 (+0%)	4mo	$140,000	$79	59
1540 W Groeling Ave	0.33mi	4/1.0	1,535 (-13%)	6mo	$68,000	$44	54
2548 N 18th St	0.42mi	4/1.5	1,510 (-14%)	2mo	$130,000	$86	53
2463 N 22nd St	0.71mi	5/2.0 (+1)	1,678 (-5%)	4mo	$55,000	$33	51
2120 N 11th St	0.71mi	5/2.0 (+1)	1,569 (-11%)	6mo	$83,750	$53	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 62.6%
• Equity multiple: 5.72×
• Total profit: $103,114
• Equity at exit: $70,269

10-year hold

• IRR: 58.2%
• Equity multiple: 14.07×
• Total profit: $285,496
• Equity at exit: $151,537

Cash invested: $21,840 (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 53206

• Rents YoY: 8.3%
• Active inventory: 150
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,708 high
• Mortgage (P&I): −$409
• Tax est. 1.5%: −$98 /mo · $1,170/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $810

Break-even live

Break-even rent $682

Max offer price $78,000

Occupancy floor 48%

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: $19,500
• Closing costs: $2,340
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2308 W Clarke St Milwaukee, WI	4.0	2.0	1545	$1,750	$1.13	23d	1	0.70mi
2634 N Doctor M.L.K. Jr Dr Milwaukee, WI	5.0	2.5	2512	$3,700	$1.47	43d	1	0.73mi
2119 W Brown St Milwaukee, WI	3.0	1.0	1754	$995	$0.57	3d	1	1.01mi
3042 N Palmer St #5 Milwaukee, WI	3.0	1.0	1718	$1,050	$0.61	23d	1	1.04mi
2809 W Clarke St Unit 12811 Milwaukee, WI	3.0	1.0	1400	$1,200	$0.86	17d	1	1.08mi
2432 N 28th St Milwaukee, WI	5.0	1.5	1876	$1,600	$0.85	43d	1	1.09mi
2507 N Buffum St Milwaukee, WI	3.0	1.0	1300	$1,375	$1.06	20d	1	1.10mi
2870 N 29th St #2872 Milwaukee, WI	3.0	1.0	1300	$1,250	$0.96	43d	1	1.11mi
2106A W Keefe Ave Unit 2106 Lower Milwaukee, WI	3.0	1.0	1300	$1,100	$0.85	17d	1	1.14mi
400 E Meinecke Ave #402 Milwaukee, WI	3.0	1.0	1700	$1,800	$1.06	16d	1	1.16mi
2704 W Concordia Ave Unit Na Milwaukee, WI	5.0	2.0	1856	$2,500	$1.35	23d	1	1.26mi
2012 N Buffum St Milwaukee, WI	3.0	2.5	2200	$2,695	$1.23	43d	1	1.34mi
312 E Townsend St Unit 312 Milwaukee, WI	3.0	1.0	1400	$1,250	$0.89	23d	1	1.37mi
2772 N Bremen St #2774 Milwaukee, WI	3.0	1.0	1500	$1,795	$1.20	43d	1	1.42mi
901 W Winnebago St Milwaukee, WI	1.0–3.0	1.0–2.0	1359	$2,629	$1.93	2d	10	1.47mi
2429 N Weil St Milwaukee, WI	3.0	1.0	1300	$1,500	$1.15	43d	1	1.49mi

Listing history 4 events

1. 2026-06-18
   days on market $78,000 Active 2 DOM
2. 2026-06-18
   remarks 524-char remark
3. 2026-06-17
   remarks 262-char remark
4. 2026-06-17
   listed $78,000 Active 1 DOM

ⓘ 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: $20,490
• − Mortgage interest: −$4,369
• − Property taxes: −$1,170
• − Insurance: −$390
• − Repairs & maintenance: −$1,639
• − Management: −$1,639
• − Depreciation: −$2,269
• Taxable income: $9,014
• Est. tax owed @ 24.0%: −$2,163
• After-tax cash flow: $7,556/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): 19,887
• Household income: $29,336
• Rent vs Own: 67.8% rent · 32.2% own
• Severe rent burden: 2061.0

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 (91%)
• Race & ethnicity: Black 91% Two or more races 3% White 3% Hispanic / Latino 3%
• Common ancestry: Norwegian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 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: ▲ 133.03%
• Current HPI: 397.7151
• Rent YoY: ▲ 8.28%
• 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

3 events — show timeline

• 2026-06-17 Listed $78,000 METROMLS
• 2024-12-24 Rental Removed $700 PROPERTYWARE
• 2024-11-23 Listed for Rent $700 PROPERTYWARE