3160 N Dr William Finlayson St #3162 · Milwaukee, WI 53212

$185,000

4 bd · 2.0 ba · 2,593 sqft · MultiFamily · 6 Days on market

Built 1920 Fair condition 0.33 ac lot Est $124k · 49% 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 +27.6/30.0
• DSCR +9.7/10.0
• 1% rule +7.5/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Condition / age +2.2/5.0
• 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

One of a kind Harambee duplex, in so many special ways, is ready for you! Park like 1/3 acre enclosed side yard that is wooded and scenic, not your typical urban setting! 2 car attached garage at front, ground level, with an additional 1.5 car garage in back! And top of that is two character filled bungalow style units, with nice space, and pretty ready to go for income production or owner occupancy. 2 newer furnaces, 2 water heaters, recently insulated for energy efficiency! Central location minutes from downtown, eastside, and UWM, not to mention a minute from highway access! Neat place with endless potential, call today!

Key facts

• Bungalow style units
• 1.5 car garage
• Central location

Tags

• 1/3 ACRE ENCLOSED SIDE YARD
• 2 CAR ATTACHED GARAGE
• 1.5 CAR GARAGE
• BUNGALOW STYLE UNITS
• CENTRAL LOCATION
• MINUTES FROM DOWNTOWN

Property features AI

Exterior

• Parking: Attached garage accommodating 3 cars (listed as 4+ cars / 3 car configuration); Total of 3 garage parking spaces
• Utilities: Municipal water; Municipal sewer; 2 electric meters; 2 gas meters
• Home design: 2-story duplex; Multi-family property
• Construction: Year built information from assessor/public record
• Exterior features: Stucco/Slate exterior; Lot approx. 0.33 acres (less than 1/2 acre); Zoned RT4

Interior

• Kitchen: Unit 2 kitchen on upper level (approx. 12 x 12)
• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 2 bedrooms (master and second bedroom on upper level; master approx. 12 x 11, bedroom 2 approx. 12 x 10)
• Bathrooms: Unit 1: 1 full bath; Unit 2: 1 full bath
• Interior features: Partial basement; Two-unit configuration (duplex)

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $185k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $551 ($7k/yr) — positive. Per door: $276/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Cap rate 9.9% 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 (+5.0%/yr); 129 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $2,316/mo this rent would consume 59% of the median local household income ($47k/yr) (locally 2397% 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 + 5.0% rent growth), your $52k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $185,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1920 — 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: 1.25% ✓
• Cap rate: 9.87%
• Cash-on-cash: 12.77%
• DSCR: 1.57
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $124,464
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3123 N 2nd St Unit 3123 A	0.20mi	4/2.0	2,847 (+10%)	1mo	$84,000	$30	73
3153 N Buffum St	0.51mi	5/2.0 (+1)	2,598 (+0%)	1mo	$63,200	$24	71
3248 N 2nd St	0.25mi	4/2.0	2,397 (-8%)	9mo	$70,000	$29	68
3341 N 3rd St #3343	0.29mi	4/2.0	2,292 (-12%)	4mo	$109,000	$48	64
2866 N 11th St #2868	0.55mi	4/2.0	2,454 (-5%)	12mo	$112,500	$46	56
3715 N Dr William Finlayson St #3717	0.58mi	4/2.0	2,383 (-8%)	7mo	$125,000	$52	54
102 W Auer Ave	0.28mi	5/2.0 (+1)	2,282 (-12%)	13mo	$230,000	$101	51
3747 N Vel R Phillips Ave	0.62mi	4/2.0	2,362 (-9%)	6mo	$92,500	$39	51
3214 N Buffum St #3216	0.54mi	4/2.0	2,324 (-10%)	11mo	$91,450	$39	48
2768 N Palmer St #2770	0.61mi	4/2.0	2,211 (-15%)	3mo	$174,415	$79	44
3422 N 15th St	0.73mi	4/2.0	2,224 (-14%)	12mo	$115,000	$52	32
3730 N 11th St #3732	0.75mi	5/2.0 (+1)	2,210 (-15%)	6mo	$149,000	$67	31

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 · 5.0% rent growth · sell at horizon

5-year hold

• IRR: 4.8%
• Equity multiple: 1.19×
• Total profit: $9,913
• Equity at exit: $27,584

10-year hold

• IRR: 16.1%
• Equity multiple: 2.43×
• Total profit: $74,294
• Equity at exit: $15,995

Cash invested: $51,800 (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 53212

• Rents YoY: 5.0%
• Active inventory: 129
• Price-to-rent: 13.3×

Monthly cashflow live

• Estimated rent: $2,316 high
• Mortgage (P&I): −$970
• Tax est. 1.5%: −$231 /mo · $2,775/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$486
• Net cashflow: $551

Break-even live

Break-even rent $1,618

Max offer price $185,000

Occupancy floor 71%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,316
Total (2 units)			$2,316

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3420-22 N Vel R Phillips Ave Milwaukee, WI	3.0	1.0	2756	$1,195	$0.43	44d	1	0.35mi
3420 N Vel R. Phillips Ave Unit 3422 Milwaukee, WI	3.0	1.0	2756	$1,195	$0.43	44d	1	0.35mi
2634 N Doctor M.L.K. Jr Dr Milwaukee, WI	5.0	2.5	2512	$3,700	$1.47	44d	1	0.67mi
2012 N Buffum St Milwaukee, WI	3.0	2.5	2200	$2,695	$1.23	44d	1	1.43mi

Listing history 7 events

1. 2026-06-18
   days on market $185,000 Active 6 DOM
2. 2026-06-17
   days on market $185,000 Active 5 DOM
3. 2026-06-16
   days on market $185,000 Active 4 DOM
4. 2026-06-15
   days on market $185,000 Active 3 DOM
5. 2026-06-13
   remarks 636-char remark
6. 2026-06-13
   remarks 558-char remark
7. 2026-06-13
   listed $185,000 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: $27,792
• − Mortgage interest: −$10,363
• − Property taxes: −$2,775
• − Insurance: −$925
• − Repairs & maintenance: −$2,223
• − Management: −$2,223
• − Depreciation: −$5,382
• Taxable income: $3,901
• Est. tax owed @ 24.0%: −$936
• After-tax cash flow: $5,678/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This multi-family property requires moderate renovations to its kitchen and bathrooms, and some maintenance to its exterior and landscaping. The property has good potential for increased value with these updates.

Repairs flagged

• Major kitchen cabinets — severely dated and worn
• Major bathroom fixtures — dated and worn
• Major flooring — damaged hardwoods
• Major interior walls — peeling paint

Value-add opportunities

• Both kitchen renovation — modernizing kitchen would increase both resale and rental value
• Both bathroom renovation — modernizing bathrooms would increase both resale and rental value
• Rental landscaping — improved landscaping would enhance curb appeal and rental potential

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · severely dated and worn	Major	$15,000–50,000
bathroom fixtures · dated and worn	Major	$15,000–50,000
flooring · damaged hardwoods	Major	$15,000–50,000
interior walls · peeling paint	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both kitchen renovation — modernizing kitchen would increase both resale and rental value ↑
• Both bathroom renovation — modernizing bathrooms would increase both resale and rental value ↑
• Rental landscaping — improved landscaping would enhance curb appeal and rental potential ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 28,938
• Household income: $47,298
• Rent vs Own: 65.6% rent · 34.4% own
• Severe rent burden: 2397.0

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 0.64)
• Race & ethnicity: Black 48% White 35% Hispanic / Latino 12% Two or more races 9%
• Hispanic origin (detail): Mexican 4% Puerto Rican 6%
• Common ancestry: Romanian 4% Portuguese 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 92% English-only · Spanish 6%

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: ▼ -216.73%
• Current HPI: 385.8225
• Rent YoY: ▲ 5.00%
• 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

1 event — show timeline

• 2026-06-12 Listed $185,000 METROMLS