2116 N Oakland Ave #2118 · Milwaukee, WI 53202

$299,900

4 bd · 2.0 ba · 2,032 sqft · MultiFamily · 1 Days on market

Built 1912 3,920 sqft lot Est $354k · 15% under

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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 +24.6/30.0
• ARV discount +14.3/15.0
• DSCR +7.9/10.0
• 1% rule +6.4/10.0
• Livability +4.0/5.0
• Rent growth +2.9/5.0
• 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: 2 units. confirmed

Listing remarks MLS

This charming and well-maintained 2/2 duplex located on the popular East Side is perfect for an owner occupant or for an investor looking for solid rents. Property includes two brand new furnaces, hardwood flooring, leaded glass windows, crown moldings, china cabinets and loads of original character throughout! Don't miss the large balcony, 3-car garage, expandable attic and updates like newer siding and paint. Be close to it all by being located between North Avenue and Brady Street! Call today!

Key facts

• 3,920 sq ft lot
• 3 garage spots
• Built 1912

Property features AI

Exterior

• Parking: Detached 3-car garage
• Utilities: Municipal water; Municipal sewer; Two electric meters; Two gas meters
• Home design: Two-story duplex (multi-family); Two units
• Construction: Block basement
• Exterior features: Wood exterior; Lot size approximately 0.09 acre; Zoned RT3

Interior

• Kitchen: Unit 2 kitchen on upper level; Two stoves and two refrigerators included (one set per unit)
• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 2 bedrooms (master and second bedroom on upper level)
• Bathrooms: Unit 1: 1 full bathroom; Unit 2: 1 full bathroom
• Interior features: Full basement with block construction
• Laundry & utility: One washer and one dryer included

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $620 ($7k/yr) — positive. Per door: $310/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $300k).
• Cap rate 8.8% 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 (+1.6%/yr); 146 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $3,408/mo this rent would consume 58% of the median local household income ($71k/yr) (locally 2752% 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 $9k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 $215k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $299,900

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. Built in 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.14% ✓
• Cap rate: 8.77%
• Cash-on-cash: 8.86%
• DSCR: 1.39
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $353,568
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2116 N Oakland Ave #2118	0.00mi	4/2.0	2,032 (0%)	0mo	$305,000	$150	100
2333 N Cramer St #2335	0.19mi	4/2.0	2,016 (-1%)	16mo	$365,000	$181	77
1932 N Warren Ave #1934	0.28mi	5/2.0 (+1)	2,080 (+2%)	11mo	$340,000	$163	69
2736 N Cramer St #2738	0.69mi	4/2.0	2,032 (0%)	18mo	$369,979	$182	53
2469 N Maryland Ave	0.40mi	4/2.0	1,863 (-8%)	19mo	$325,000	$174	51
1815 N Astor St	0.63mi	4/2.0	1,887 (-7%)	9mo	$285,715	$151	51
2525 N Weil St	0.70mi	3/2.0 (-1)	2,085 (+3%)	9mo	$235,000	$113	51
2026 E Kenilworth Pl	0.20mi	3/2.0 (-1)	2,278 (+12%)	18mo	$220,000	$97	50
2563 N Gordon Pl	0.60mi	3/3.0 (-1)	2,072 (+2%)	14mo	$430,000	$208	49
2450 N Dousman St	0.53mi	4/2.0	1,822 (-10%)	13mo	$295,000	$162	47
1740 N Arlington Pl Unit A-B	0.45mi	4/3.0	2,282 (+12%)	13mo	$423,000	$185	43
2557 N Frederick Ave #2559	0.50mi	5/2.0 (+1)	2,234 (+10%)	20mo	$406,000	$182	39

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 · 1.56% rent growth · sell at horizon

5-year hold

• IRR: -4.5%
• Equity multiple: 0.83×
• Total profit: $-13,939
• Equity at exit: $44,716

10-year hold

• IRR: 3.4%
• Equity multiple: 1.23×
• Total profit: $19,494
• Equity at exit: $25,930

Cash invested: $83,972 (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 53202

• Rents YoY: 1.6%
• Active inventory: 146
• Price-to-rent: 14.7×

Monthly cashflow live

• Estimated rent: $3,408 high
• Mortgage (P&I): −$1,573
• Tax est. 1.5%: −$375 /mo · $4,498/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$716
• Net cashflow: $620

Break-even live

Break-even rent $2,623

Max offer price $299,900

Occupancy floor 77%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,408
Total (2 units)			$3,408

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2245 N Lake Dr Unit 2247 Milwaukee, WI	3.0	1.0	2197	$2,495	$1.14	43d	1	0.31mi
1116 E Hamilton St Milwaukee, WI	3.0	2.0	1400	$1,750	$1.25	17d	1	0.53mi
2579 N Frederick Ave Milwaukee, WI	4.0	2.0	2400	$2,095	$0.87	4d	1	0.55mi
2511 N Prospect Ave Unit 2511 19 Milwaukee, WI	3.0	1.0	1658	$1,980	$1.19	17d	1	0.56mi
1025 E Land Pl Milwaukee, WI	3.0	1.0	1560	$1,750	$1.12	23d	1	0.58mi
1014 E Land Pl Milwaukee, WI	3.0	2.0	1900	$2,000	$1.05	4d	1	0.58mi
2534 N Prospect Ave Milwaukee, WI	3.0	1.0	1500	$2,095	$1.40	43d	1	0.59mi
2609 N Maryland Ave Milwaukee, WI	4.0	2.5	1700	$2,050	$1.21	4d	1	0.62mi
922 E Hamilton St Unit Lower Milwaukee, WI	3.0	1.0	1900	$1,550	$0.82	23d	1	0.65mi
1703 N Astor St Milwaukee, WI	4.0	2.0	1800	$2,200	$1.22	43d	1	0.68mi
2706 N Frederick Ave Milwaukee, WI	3.0	2.0	1500	$2,000	$1.33	17d	1	0.69mi
2803 E Belleview Pl Unit 1 Milwaukee, WI	3.0	1.0	1500	$2,040	$1.36	4d	1	0.77mi
2745 N Downer Ave #2747 Milwaukee, WI	3.0	2.0	1800	$2,400	$1.33	10d	1	0.86mi
2830 N Maryland Ave Unit 2828 Milwaukee, WI	3.0	1.0	1675	$1,995	$1.19	17d	1	0.88mi
2012 N Buffum St Milwaukee, WI	3.0	2.5	2200	$2,695	$1.23	43d	1	0.94mi
2937 N Frederick Ave Milwaukee, WI	4.0	1.0	1700	$1,925	$1.13	4d	1	0.97mi
2772 N Bremen St #2774 Milwaukee, WI	3.0	1.0	1500	$1,795	$1.20	43d	1	0.98mi
400 E Meinecke Ave #402 Milwaukee, WI	3.0	1.0	1700	$1,800	$1.06	16d	1	0.98mi
2959 N Murray Ave Milwaukee, WI	3.0	1.0	1500	$1,800	$1.20	16d	1	1.00mi
2974 N Frederick Ave Milwaukee, WI	4.0	2.0	1626	$2,600	$1.60	43d	1	1.03mi
1814 E Linnwood Ave Milwaukee, WI	4.0	2.0	1800	$3,100	$1.72	43d	1	1.04mi
1902 E Linnwood Ave Unit 1902 04 Milwaukee, WI	4.0	1.5	1599	$2,400	$1.50	17d	1	1.04mi
1902 E Linnwood Ave Unit 1902 05 Milwaukee, WI	4.0	1.5	1599	$2,400	$1.50	4d	1	1.04mi
2935 N Downer Ave Milwaukee, WI	3.0	1.0	1500	$1,695	$1.13	4d	1	1.07mi
1551 N Water St Milwaukee, WI	3.0	1.0–2.0	1074	$3,395	$3.16	2d	52	1.10mi
3015 N Prospect Ave Unit 3015 Prospect Milwaukee, WI	3.0	1.0	1570	$1,950	$1.24	17d	1	1.10mi
1040 N Cass St Milwaukee, WI	1.0–3.0	1.0–2.0	2025	$7,750	$3.83	2d	9	1.14mi
3131 N Bartlett Ave Unit 1 Milwaukee, WI	4.0	1.0	1600	$1,750	$1.09	43d	1	1.20mi
700 E Kilbourn Ave Milwaukee, WI	1.0–3.0	1.0–2.0	1041	$5,500	$5.28	3d	13	1.27mi
2634 N Doctor M.L.K. Jr Dr Milwaukee, WI	5.0	2.5	2512	$3,700	$1.47	43d	1	1.43mi
777 N Van Buren St Milwaukee, WI	3.0	1.0–3.0	1108	$6,730	$6.07	2d	8	1.44mi
828 N Milwaukee St Unit 6 Milwaukee, WI	3.0	1.0	1500	$1,725	$1.15	43d	1	1.46mi
828 N Milwaukee St Unit 9 Milwaukee, WI	4.0	1.0	1600	$2,300	$1.44	43d	1	1.46mi

Listing history 18 events

1. 2026-05-23
   status Pending
2. 2026-05-21
   listed $299,900 Active
3. 2026-05-17
   historical $299,900
4. 2016-12-20
   soldstatus $214,900 Sold 501-char remark

   Show marketing remark (501 chars)

   This charming and well-maintained 2/2 duplex located on the popular East Side is perfect for an owner occupant or for an investor looking for solid rents. Property includes two brand new furnaces, hardwood flooring, leaded glass windows, crown moldings, china cabinets and loads of original character throughout! Don't miss the large balcony, 3-car garage, expandable attic and updates like newer siding and paint. Be close to it all by being located between North Avenue and Brady Street! Call today!

5. 2016-10-07
   historical Contingent 501-char remark

   Show marketing remark (501 chars)

   This charming and well-maintained 2/2 duplex located on the popular East Side is perfect for an owner occupant or for an investor looking for solid rents. Property includes two brand new furnaces, hardwood flooring, leaded glass windows, crown moldings, china cabinets and loads of original character throughout! Don't miss the large balcony, 3-car garage, expandable attic and updates like newer siding and paint. Be close to it all by being located between North Avenue and Brady Street! Call today!

6. 2016-06-10
   status Active 501-char remark

   Show marketing remark (501 chars)

   This charming and well-maintained 2/2 duplex located on the popular East Side is perfect for an owner occupant or for an investor looking for solid rents. Property includes two brand new furnaces, hardwood flooring, leaded glass windows, crown moldings, china cabinets and loads of original character throughout! Don't miss the large balcony, 3-car garage, expandable attic and updates like newer siding and paint. Be close to it all by being located between North Avenue and Brady Street! Call today!

7. 2016-06-06
   historical 501-char remark

   Show marketing remark (501 chars)

   This charming and well-maintained 2/2 duplex located on the popular East Side is perfect for an owner occupant or for an investor looking for solid rents. Property includes two brand new furnaces, hardwood flooring, leaded glass windows, crown moldings, china cabinets and loads of original character throughout! Don't miss the large balcony, 3-car garage, expandable attic and updates like newer siding and paint. Be close to it all by being located between North Avenue and Brady Street! Call today!

8. 2016-06-03
   listed $214,900 Active 501-char remark

   Show marketing remark (501 chars)

   This charming and well-maintained 2/2 duplex located on the popular East Side is perfect for an owner occupant or for an investor looking for solid rents. Property includes two brand new furnaces, hardwood flooring, leaded glass windows, crown moldings, china cabinets and loads of original character throughout! Don't miss the large balcony, 3-car garage, expandable attic and updates like newer siding and paint. Be close to it all by being located between North Avenue and Brady Street! Call today!

9. 2015-01-12
   historical 488-char remark

   Show marketing remark (488 chars)

   Just Reduced by $10K! Be close to it all! This charming and well-maintained 2/2 duplex located on the popular East Side is perfect for an owner occupant or for an investor looking for solid rents. Property includes hardwood flooring, leaded glass windows, crown moldings, china cabinets and loads of original character throughout! Don't miss the large balcony, 3-car garage, expandable attic and updates like newer siding and paint. Don't let this one slip through your hands- call today!

10. 2014-10-30
    price $208,900 488-char remark

    Show marketing remark (488 chars)

    Just Reduced by $10K! Be close to it all! This charming and well-maintained 2/2 duplex located on the popular East Side is perfect for an owner occupant or for an investor looking for solid rents. Property includes hardwood flooring, leaded glass windows, crown moldings, china cabinets and loads of original character throughout! Don't miss the large balcony, 3-car garage, expandable attic and updates like newer siding and paint. Don't let this one slip through your hands- call today!

11. 2014-09-05
    listed $218,900 Active 488-char remark

    Show marketing remark (488 chars)

    Just Reduced by $10K! Be close to it all! This charming and well-maintained 2/2 duplex located on the popular East Side is perfect for an owner occupant or for an investor looking for solid rents. Property includes hardwood flooring, leaded glass windows, crown moldings, china cabinets and loads of original character throughout! Don't miss the large balcony, 3-car garage, expandable attic and updates like newer siding and paint. Don't let this one slip through your hands- call today!

12. 2012-04-17
    listed $199,950
13. 2012-04-17
    historical
14. 2012-02-16
    listed $255,000
15. 2012-02-16
    historical
16. 2012-01-20
    historical
17. 2012-01-20
    listed $269,900
18. 2008-10-29
    soldstatus $198,000

ⓘ 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 ≥96°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: $40,896
• − Mortgage interest: −$16,799
• − Property taxes: −$4,498
• − Insurance: −$1,500
• − Repairs & maintenance: −$3,272
• − Management: −$3,272
• − Depreciation: −$8,724
• Taxable income: $2,831
• Est. tax owed @ 24.0%: −$679
• After-tax cash flow: $6,758/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): 25,861
• Household income: $71,034
• Rent vs Own: 78.6% rent · 21.4% own
• Severe rent burden: 2752.0

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 White (75%)
• Race & ethnicity: White 75% Black 8% Two or more races 6% Hispanic / Latino 6% Asian 5%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Romanian 9% Portuguese 4% Lithuanian 2%
• Foreign-born: 10% · Canada, South Korea
• Languages at home: 89% English-only · Spanish 4% Other Indo-European 2% Other Asian/Pacific 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: ▼ -133.46%
• Current HPI: 226.4316
• Rent YoY: ▲ 1.56%
• 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

+51.5% since first listed

18 events — show timeline

• 2026-05-23 Pending — METROMLS
• 2026-05-21 Listed $299,900 METROMLS
• 2026-05-17 Coming Soon $299,900 METROMLS
• 2016-12-20 Sold (MLS) $214,900 METROMLS
• 2016-10-07 Contingent — METROMLS
• 2016-06-10 Relisted — METROMLS
• 2016-06-06 Listing Removed — METROMLS
• 2016-06-03 Listed $214,900 METROMLS
• 2015-01-12 Listing Removed — METROMLS
• 2014-10-30 Price Changed $208,900 METROMLS
• 2014-09-05 Listed $218,900 METROMLS
• 2012-04-17 Listing Removed — METROMLS
• 2012-04-17 Listed $199,950 METROMLS
• 2012-02-16 Listing Removed — METROMLS
• 2012-02-16 Listed $255,000 METROMLS
• 2012-01-20 Listed $269,900 METROMLS
• 2012-01-20 Listing Removed — METROMLS
• 2008-10-29 Sold (MLS) $198,000 METROMLS