6041 W Port Ave Unit A · Milwaukee, WI 53223

$99,900

3 bd · 2.0 ba · 1,315 sqft · Condo public records · 109 Days on market

Built 1972 $76/sqft · 50% above area $350/mo HOA · 21% of rent

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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 +24.4/30.0
• 1% rule +10.0/10.0
• DSCR +7.9/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This spacious 3 bedroom, 2 bathroom condo is ready for a new owner. The unit boasts new paint, carpet & appliances. The furnace & central air unit have also been upgraded. Included is a 1 car garage. There is also a storage locker. This is a Fannie Mae HomePath property.

Key facts

• Upgraded central air
• New carpet
• New paint

Tags

• NEW PAINT
• NEW CARPET
• NEW APPLIANCES
• UPGRADED FURNACE
• UPGRADED CENTRAL AIR
• STORAGE LOCKER

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $100k.

Deal economics

• At list price, monthly cash flow is $203 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $91k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.7% 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+, 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: 46 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• This rent runs 32% of the median local income ($61k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k 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 109 days — a 9% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 13y ago; this cycle's ask has dropped $30k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.

Recommended offer $90,909 (9.0% below list)

Questions for the listing agent

1. It's been on market 109 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.64% ✓
• Cap rate: 8.73%
• Cash-on-cash: 8.70%
• DSCR: 1.39
• GRM: 5.1

CMA / ARV

• ARV (median comp): $66,517
• List price: $99,900
• Delta: 50.19%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.8%
• Equity multiple: 0.89×
• Total profit: $-3,005
• Equity at exit: $14,895

10-year hold

• IRR: 7.1%
• Equity multiple: 1.54×
• Total profit: $15,114
• Equity at exit: $8,638

Cash invested: $27,972 (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 53223

• Home prices YoY: -27.7%
• Active inventory: 46
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,640 high
• Mortgage (P&I): −$524
• Tax from tax record: −$177 /mo · $2,125/yr
• Insurance: −$42
• HOA: −$350
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $203

Break-even live

Break-even rent $1,383

Max offer price $99,900

Occupancy floor 83%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6401 W Bradley Rd Milwaukee, WI	1.0–3.0	1.0–2.5	882	$1,750	$1.98	2d	2	0.39mi
5005 W Bradley Rd Milwaukee, WI	2.0	1.0	1149	$1,299	$1.13	44d	1	0.73mi
5005 W Bradley Rd Milwaukee, WI	2.0	1.0	1064	$1,299	$1.22	14d	2	0.73mi
5829 W Helena St Milwaukee, WI	3.0	2.0	1212	$2,200	$1.82	10d	1	0.82mi
5401 W Presidio Ln Milwaukee, WI	2.0	2.0	1200	$1,685	$1.40	2d	13	0.88mi
7290 W Dean Rd Milwaukee, WI	2.0	1.0–1.5	625	$1,545	$2.47	2d	8	1.12mi
7300 W Dean Rd Milwaukee, WI	1.0–2.0	1.0–1.5	850	$1,545	$1.82	2d	8	1.23mi
6762 N 52nd St Milwaukee, WI	2.0	2.0	1309	$1,500	$1.15	14d	1	1.29mi
6951 N 76th St Apt 112 Milwaukee, WI	2.0	1.0	1025	$1,100	$1.07	24d	1	1.35mi
4127 W Kiley Ave Unit A Milwaukee, WI	3.0	1.0	1025	$1,250	$1.22	44d	1	1.44mi
6535 N 58th St Milwaukee, WI	2.0	1.0	962	$1,195	$1.24	17d	1	1.47mi

HOA detail condo

• Monthly dues: $350 · $4,200/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 49 events

1. 2026-06-18
   days on market $99,900 Active 109 DOM
2. 2026-06-17
   days on market $99,900 Active 108 DOM
3. 2026-06-16
   days on market $99,900 Active 107 DOM
4. 2026-06-15
   days on market $99,900 Active 106 DOM
5. 2026-06-13
   days on market $99,900 Active 104 DOM
6. 2026-06-13
   pricedays on market $99,900 Active 103 DOM
7. 2026-06-09
   days on market $105,000 Active 100 DOM
8. 2026-06-08
   status $105,000 Active 99 DOM
9. 2026-05-13
   status Pending 283-char remark

   Show marketing remark (283 chars)

   This spacious 3 bedroom, 2 bathroom condo is ready for a new owner. The unit boasts new paint, carpet & appliances. The furnace & central air unit have also been upgraded. Included is a 1 car garage. There is also a storage locker. This is a Fannie Mae HomePath property.

10. 2026-04-09
    price $105,000 283-char remark

    Show marketing remark (283 chars)

    This spacious 3 bedroom, 2 bathroom condo is ready for a new owner. The unit boasts new paint, carpet & appliances. The furnace & central air unit have also been upgraded. Included is a 1 car garage. There is also a storage locker. This is a Fannie Mae HomePath property.

11. 2026-03-04
    price $119,900 283-char remark

    Show marketing remark (283 chars)

    This spacious 3 bedroom, 2 bathroom condo is ready for a new owner. The unit boasts new paint, carpet & appliances. The furnace & central air unit have also been upgraded. Included is a 1 car garage. There is also a storage locker. This is a Fannie Mae HomePath property.

12. 2026-02-03
    listed $129,900 Active 283-char remark

    Show marketing remark (283 chars)

    This spacious 3 bedroom, 2 bathroom condo is ready for a new owner. The unit boasts new paint, carpet & appliances. The furnace & central air unit have also been upgraded. Included is a 1 car garage. There is also a storage locker. This is a Fannie Mae HomePath property.

13. 2023-10-26
    soldstatus $104,900
14. 2023-10-25
    soldstatus $104,900 Sold 529-char remark

    Show marketing remark (529 chars)

    Back on the market!! A rare 3 bedroom, 2 full bath condo. This condo has a brand new kitchen with all new cabinets, counters, and appliances. The master bedroom has a huge WIC and a completely remodeled ensuite. You'll have plenty of room for storage and parking as this unit has 2 assigned spaces as well as a large 1 car garage. In the basement there is also an assigned storage unit. This unit is listed below appraised value looking for a quick and easy close. Three bedroom condos don't come around often so don't miss out!

15. 2023-10-03
    historical Contingent 529-char remark

    Show marketing remark (529 chars)

    Back on the market!! A rare 3 bedroom, 2 full bath condo. This condo has a brand new kitchen with all new cabinets, counters, and appliances. The master bedroom has a huge WIC and a completely remodeled ensuite. You'll have plenty of room for storage and parking as this unit has 2 assigned spaces as well as a large 1 car garage. In the basement there is also an assigned storage unit. This unit is listed below appraised value looking for a quick and easy close. Three bedroom condos don't come around often so don't miss out!

16. 2023-09-18
    status Active 529-char remark

    Show marketing remark (529 chars)

    Back on the market!! A rare 3 bedroom, 2 full bath condo. This condo has a brand new kitchen with all new cabinets, counters, and appliances. The master bedroom has a huge WIC and a completely remodeled ensuite. You'll have plenty of room for storage and parking as this unit has 2 assigned spaces as well as a large 1 car garage. In the basement there is also an assigned storage unit. This unit is listed below appraised value looking for a quick and easy close. Three bedroom condos don't come around often so don't miss out!

17. 2023-09-13
    status Pending 529-char remark

    Show marketing remark (529 chars)

    Back on the market!! A rare 3 bedroom, 2 full bath condo. This condo has a brand new kitchen with all new cabinets, counters, and appliances. The master bedroom has a huge WIC and a completely remodeled ensuite. You'll have plenty of room for storage and parking as this unit has 2 assigned spaces as well as a large 1 car garage. In the basement there is also an assigned storage unit. This unit is listed below appraised value looking for a quick and easy close. Three bedroom condos don't come around often so don't miss out!

18. 2023-09-09
    status Active 529-char remark

    Show marketing remark (529 chars)

    Back on the market!! A rare 3 bedroom, 2 full bath condo. This condo has a brand new kitchen with all new cabinets, counters, and appliances. The master bedroom has a huge WIC and a completely remodeled ensuite. You'll have plenty of room for storage and parking as this unit has 2 assigned spaces as well as a large 1 car garage. In the basement there is also an assigned storage unit. This unit is listed below appraised value looking for a quick and easy close. Three bedroom condos don't come around often so don't miss out!

19. 2023-07-25
    historical Contingent 529-char remark

    Show marketing remark (529 chars)

    Back on the market!! A rare 3 bedroom, 2 full bath condo. This condo has a brand new kitchen with all new cabinets, counters, and appliances. The master bedroom has a huge WIC and a completely remodeled ensuite. You'll have plenty of room for storage and parking as this unit has 2 assigned spaces as well as a large 1 car garage. In the basement there is also an assigned storage unit. This unit is listed below appraised value looking for a quick and easy close. Three bedroom condos don't come around often so don't miss out!

20. 2023-06-27
    price $104,900 529-char remark

    Show marketing remark (529 chars)

    Back on the market!! A rare 3 bedroom, 2 full bath condo. This condo has a brand new kitchen with all new cabinets, counters, and appliances. The master bedroom has a huge WIC and a completely remodeled ensuite. You'll have plenty of room for storage and parking as this unit has 2 assigned spaces as well as a large 1 car garage. In the basement there is also an assigned storage unit. This unit is listed below appraised value looking for a quick and easy close. Three bedroom condos don't come around often so don't miss out!

21. 2023-06-27
    status Active 529-char remark

    Show marketing remark (529 chars)

    Back on the market!! A rare 3 bedroom, 2 full bath condo. This condo has a brand new kitchen with all new cabinets, counters, and appliances. The master bedroom has a huge WIC and a completely remodeled ensuite. You'll have plenty of room for storage and parking as this unit has 2 assigned spaces as well as a large 1 car garage. In the basement there is also an assigned storage unit. This unit is listed below appraised value looking for a quick and easy close. Three bedroom condos don't come around often so don't miss out!

22. 2023-06-01
    historical Contingent 529-char remark

    Show marketing remark (529 chars)

    Back on the market!! A rare 3 bedroom, 2 full bath condo. This condo has a brand new kitchen with all new cabinets, counters, and appliances. The master bedroom has a huge WIC and a completely remodeled ensuite. You'll have plenty of room for storage and parking as this unit has 2 assigned spaces as well as a large 1 car garage. In the basement there is also an assigned storage unit. This unit is listed below appraised value looking for a quick and easy close. Three bedroom condos don't come around often so don't miss out!

23. 2023-05-29
    status Active 529-char remark

    Show marketing remark (529 chars)

    Back on the market!! A rare 3 bedroom, 2 full bath condo. This condo has a brand new kitchen with all new cabinets, counters, and appliances. The master bedroom has a huge WIC and a completely remodeled ensuite. You'll have plenty of room for storage and parking as this unit has 2 assigned spaces as well as a large 1 car garage. In the basement there is also an assigned storage unit. This unit is listed below appraised value looking for a quick and easy close. Three bedroom condos don't come around often so don't miss out!

24. 2023-05-02
    historical Contingent 529-char remark

    Show marketing remark (529 chars)

    Back on the market!! A rare 3 bedroom, 2 full bath condo. This condo has a brand new kitchen with all new cabinets, counters, and appliances. The master bedroom has a huge WIC and a completely remodeled ensuite. You'll have plenty of room for storage and parking as this unit has 2 assigned spaces as well as a large 1 car garage. In the basement there is also an assigned storage unit. This unit is listed below appraised value looking for a quick and easy close. Three bedroom condos don't come around often so don't miss out!

25. 2023-04-30
    listed $99,000 Active 529-char remark

    Show marketing remark (529 chars)

    Back on the market!! A rare 3 bedroom, 2 full bath condo. This condo has a brand new kitchen with all new cabinets, counters, and appliances. The master bedroom has a huge WIC and a completely remodeled ensuite. You'll have plenty of room for storage and parking as this unit has 2 assigned spaces as well as a large 1 car garage. In the basement there is also an assigned storage unit. This unit is listed below appraised value looking for a quick and easy close. Three bedroom condos don't come around often so don't miss out!

26. 2021-03-12
    soldstatus $57,000 Sold
27. 2021-03-12
    soldstatus $57,000
28. 2021-03-09
    status Pending
29. 2021-03-02
    historical Contingent
30. 2021-02-03
    listed $65,000 Active
31. 2019-06-30
    historical
32. 2019-06-07
    price $50,000
33. 2019-05-28
    price $57,000
34. 2019-05-28
    status Active
35. 2019-05-23
    historical
36. 2019-03-16
    listed $65,000 Active
37. 2019-01-29
    historical
38. 2018-10-29
    status Active
39. 2018-10-25
    historical
40. 2018-08-02
    listed $50,000 Active
41. 2018-06-19
    historical
42. 2018-06-14
    price $50,000
43. 2018-05-14
    listed $55,000 Active
44. 2014-12-12
    soldstatus $15,000 Sold
45. 2014-10-24
    listed $16,000 Active
46. 2013-07-12
    historical
47. 2013-07-12
    listed $54,900
48. 2007-06-14
    soldstatus $57,000
49. 2006-11-03
    soldstatus $39,500

ⓘ 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: $2,125 · $177/mo
• Projected year-2 tax: $2,125 · $177/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

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 ≥99°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,676
• − Mortgage interest: −$5,596
• − Property taxes: −$2,125
• − Insurance: −$500
• − Repairs & maintenance: −$1,574
• − Management: −$1,574
• − HOA: −$4,200
• − Depreciation: −$2,906
• Taxable income: $1,201
• Est. tax owed @ 24.0%: −$288
• After-tax cash flow: $2,144/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): 28,793
• Household income: $60,839
• Rent vs Own: 46.6% rent · 53.4% own
• Severe rent burden: 1084.0

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 0.59)
• Race & ethnicity: Black 57% White 29% Asian 6% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Romanian 3% Portuguese 1% Lithuanian 1%
• Foreign-born: 7% · Canada
• Languages at home: 89% English-only · Other Asian/Pacific 4% Spanish 2% French/Haitian/Cajun 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: ▼ -108.51%
• Current HPI: 283.4147
• Rent YoY: —
• 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

+165.8% since first listed

41 events — show timeline

• 2026-05-13 Pending — METROMLS
• 2026-04-09 Price Changed $105,000 METROMLS
• 2026-03-04 Price Changed $119,900 METROMLS
• 2026-02-03 Listed $129,900 METROMLS
• 2023-10-26 Sold (Public Records) $104,900 Public Records
• 2023-10-25 Sold (MLS) $104,900 METROMLS
• 2023-10-03 Contingent — METROMLS
• 2023-09-18 Relisted — METROMLS
• 2023-09-13 Pending — METROMLS
• 2023-09-09 Relisted — METROMLS
• 2023-07-25 Contingent — METROMLS
• 2023-06-27 Price Changed $104,900 METROMLS
• 2023-06-27 Relisted — METROMLS
• 2023-06-01 Contingent — METROMLS
• 2023-05-29 Relisted — METROMLS
• 2023-05-02 Contingent — METROMLS
• 2023-04-30 Listed $99,000 METROMLS
• 2021-03-12 Sold (Public Records) $57,000 Public Records
• 2021-03-12 Sold (MLS) $57,000 METROMLS
• 2021-03-09 Pending — METROMLS
• 2021-03-02 Contingent — METROMLS
• 2021-02-03 Listed $65,000 METROMLS
• 2019-06-30 Listing Removed — METROMLS
• 2019-06-07 Price Changed $50,000 METROMLS
• 2019-05-28 Price Changed $57,000 METROMLS
• 2019-05-28 Relisted — METROMLS
• 2019-05-23 Listing Removed — METROMLS
• 2019-03-16 Listed $65,000 METROMLS
• 2019-01-29 Listing Removed — METROMLS
• 2018-10-29 Relisted — METROMLS
• 2018-10-25 Listing Removed — METROMLS
• 2018-08-02 Listed $50,000 METROMLS
• 2018-06-19 Listing Removed — METROMLS
• 2018-06-14 Price Changed $50,000 METROMLS
• 2018-05-14 Listed $55,000 METROMLS
• 2014-12-12 Sold (MLS) $15,000 METROMLS
• 2014-10-24 Listed $16,000 METROMLS
• 2013-07-12 Listed $54,900 METROMLS
• 2013-07-12 Listing Removed — METROMLS
• 2007-06-14 Sold (Public Records) $57,000 Public Records
• 2006-11-03 Sold (Public Records) $39,500 Public Records

Property tax history

+6.7%/yr

Latest (2024): $2,125 · +67.6% YoY. Source: county tax records.