4673 N 49th St · Milwaukee, WI 53218

$124,900

5 bd · 2.0 ba · 1,715 sqft · SingleFamily public records · 3 Days on market

Built 1930 5,662 sqft lot Est $232k · 46% under

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Why this score? — see what drove the B 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 +28.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• 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

Listing remarks

Investor special duplex in great west Hampton corridor is ready for an owner willing to put in sweat equity! Long time owner with long time (25+ year) tenants. Long driveway for parking abutting large wooded lot behind. A definite project with unquestioned opportunity/upside. Call today!

Key facts

• Large wooded lot
• Long driveway
• Duplex

Tags

• DUPLEX
• LONG DRIVEWAY
• LARGE WOODED LOT

Property features AI

Finance

• Other: Inclusions: None; Exclusions: Seller personal property

Exterior

• Parking: Attached 2-car garage
• Utilities: Municipal water; Municipal sewer; Natural gas
• Home design: 1.5-story single-family home; Less than 1/2 acre lot (about 0.13 acre); Zoning: RS6
• Construction: Aluminum/steel exterior; Year built from assessor/public record
• Exterior features: Aluminum siding; Sidewalks

Interior

• Kitchen: Kitchen on main level (approximately 10 x 10)
• Bedrooms: Master bedroom (Upper) roughly 10 x 12; Bedroom 2 (Upper) roughly 10 x 8; Bedroom 3 (Lower) roughly 10 x 8; Bedroom 4 (Main) roughly 10 x 8; Bedroom 5 (Main) roughly 10 x 8
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating; Natural gas fuel
• Interior features: Full basement; Shower over tub bathrooms

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $390 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Cap rate 10.0% 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; 4 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 $1,836/mo this rent would consume 48% 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 $864 of loan paydown is wiped out by about $4k 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 + 5.3% rent growth), your $35k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $34k; list at $125k implies a 267% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $124,900

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.47% ✓
• Cap rate: 10.04%
• Cash-on-cash: 13.40%
• DSCR: 1.60
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $231,525
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4607 N 42nd St	0.48mi	4/2.0 (-1)	1,700 (-1%)	1mo	$195,000	$115	71
4341 N 48th St	0.43mi	4/2.5 (-1)	1,675 (-2%)	1mo	$255,000	$152	68
4611 N 46th St	0.21mi	4/2.0 (-1)	1,900 (+11%)	0mo	$250,000	$132	67
4575 N 44th St	0.34mi	4/2.0 (-1)	1,820 (+6%)	7mo	$245,000	$135	63
4826 N 51st Blvd	0.22mi	4/2.0 (-1)	1,494 (-13%)	0mo	$219,900	$147	63
4463 N 51st Blvd	0.28mi	4/2.0 (-1)	1,900 (+11%)	6mo	$225,000	$118	59
4545 N 45th St	0.30mi	4/2.5 (-1)	1,542 (-10%)	4mo	$205,000	$133	59
4570 N 44th St	0.37mi	4/2.0 (-1)	1,892 (+10%)	3mo	$260,000	$137	58
4571 N 39th St	0.66mi	4/1.5 (-1)	1,691 (-1%)	6mo	$219,900	$130	55
5613 W Congress St	0.58mi	4/2.0 (-1)	1,881 (+10%)	5mo	$249,900	$133	48
4466 W Hope Ave	0.65mi	4/2.0 (-1)	1,575 (-8%)	7mo	$225,000	$143	45
4151 N 46th St	0.68mi	4/2.5 (-1)	1,539 (-10%)	9mo	$245,000	$159	37

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: 6.5%
• Equity multiple: 1.26×
• Total profit: $9,106
• Equity at exit: $18,623

10-year hold

• IRR: 18.1%
• Equity multiple: 2.69×
• Total profit: $59,166
• Equity at exit: $10,799

Cash invested: $34,972 (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 53218

• Home prices YoY: -19.0%
• Rents YoY: 5.3%
• Active inventory: 153
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,836 medium
• Mortgage (P&I): −$655
• Tax from tax record: −$353 /mo · $4,235/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$386
• Net cashflow: $390

Break-even live

Break-even rent $1,342

Max offer price $124,900

Occupancy floor 74%

Sensitivity live

Price	-10% $461	-5% $426	+0% $390	+5% $355	+10% $320
Rent	-10% $245	-5% $318	+0% $390	+5% $463	+10% $536
Rate	-1.0pp $453	-0.5pp $422	base $390	+0.5pp $358	+1.0pp $325

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5073 N 48th St Milwaukee, WI	4.0	1.0	1152	$1,595	$1.38	15d	1	0.55mi
4340 W Eggert Pl Milwaukee, WI	4.0	1.0	1066	$1,695	$1.59	24d	1	0.73mi
4334 W Eggert Pl Milwaukee, WI	4.0	1.0	1077	$1,695	$1.57	24d	1	0.73mi
5268 N 64th St Milwaukee, WI	5.0	1.0	1672	$1,850	$1.11	11d	1	1.14mi

Listing history 4 events

1. 2026-06-18
   days on market $124,900 Active 3 DOM
2. 2026-06-17
   days on market $124,900 Active 2 DOM
3. 2026-06-16
   remarks 288-char remark
4. 2026-06-16
   listed $124,900 Active 1 DOM

ⓘ 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: $4,235 · $353/mo
• Projected year-2 tax: $4,235 · $353/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 (shaded) · 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: $22,032
• − Mortgage interest: −$6,996
• − Property taxes: −$4,235
• − Insurance: −$624
• − Repairs & maintenance: −$1,763
• − Management: −$1,763
• − Depreciation: −$3,633
• Taxable income: $3,017
• Est. tax owed @ 24.0%: −$724
• After-tax cash flow: $3,962/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

+267.4% since first listed

2 events — show timeline

• 2026-06-15 Listed $124,900 METROMLS
• 1988-08-01 Sold (Public Records) $34,000 Public Records

Property tax history

+11.2%/yr

Latest (2024): $4,235 · +5.9% YoY. Source: county tax records.