2411 N 16th St #2413 · Milwaukee, WI 53206

$165,000

6 bd · 2.0 ba · 2,068 sqft · MultiFamily · 8 Days on market

Built 1913 4,791 sqft lot ↓ 13% since listing

---

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 +30.0/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.5/10.0
• ARV discount +7.5/15.0
• Rent growth +4.6/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Fully renovated Duplex This spacious 3-bedroom, 2 bathroom in each unit offers unmatched versatility and modern comfort newly finished attic that includes an additional laundry setup, a full bath, and two bonus rooms--perfect for extra bedrooms or creative spaces. The basement adds even more potential with two bonus rooms, ideal for storage, a home gym, or additional living areas.

Key facts

• 4,791 sq ft lot
• Built 1913
• Listed 8 days

Property features AI

Finance

• Other: Estimated building size range: 1,001–1,250 sq ft per unit; Two units in building

Exterior

• Utilities: Municipal water; Municipal sewer; Separate electric and gas meters (2 electric meters, 2 gas meters)
• Home design: 2-story duplex; Multi-family property; Zoning: RT4
• Construction: Less than 1/2 acre lot (approximately 0.11 acre)
• Exterior features: Vinyl and wood exterior

Interior

• Kitchen: Unit 2 kitchen on upper level
• Bedrooms: Unit 1: 3 bedrooms; Unit 2: 3 bedrooms (master on upper level; other bedrooms on upper level)
• Bathrooms: Unit 1: 1 full bathroom; Unit 2: 1 full bathroom
• Interior features: Full block basement

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $165k.

Deal economics

• At list price, monthly cash flow is $745 ($9k/yr) — positive. Per door: $372/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Cap rate 11.7% 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: Rents rising fast (+8.3%/yr); 160 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $2,386/mo this rent would consume 98% 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 $18k of equity ($1k loan paydown + $16k 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 $46k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 5y 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 1913 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $165,000

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. Built in 1913 — 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: 1.45% ✓
• Cap rate: 11.71%
• Cash-on-cash: 19.34%
• DSCR: 1.86
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $99,264
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2411 N 16th St #2413	0.00mi	6/3.0	2,068 (0%)	16mo	$160,000	$77	83
2346 N 17th St Unit 2346-2348	0.09mi	5/2.0 (-1)	2,148 (+4%)	10mo	$88,000	$41	76
1123 W Hadley St	0.57mi	6/2.0	2,054 (-1%)	6mo	$100,000	$49	67
2813 N 21st St	0.60mi	6/2.0	1,942 (-6%)	1mo	$70,000	$36	61
2654 N 24th St	0.57mi	6/2.0	2,100 (+2%)	13mo	$100,000	$48	60
2477 N 6th St	0.72mi	5/2.0 (-1)	2,046 (-1%)	1mo	$111,000	$54	59
2630 N 24th Pl #2632	0.61mi	6/2.0	2,055 (-1%)	14mo	$76,000	$37	58
1817 N 22nd St #1819	0.70mi	6/2.0	2,112 (+2%)	11mo	$80,000	$38	54
639 W Meinecke Ave	0.66mi	6/2.0	2,261 (+9%)	1mo	$170,000	$75	52
2925 N 22nd St	0.75mi	6/2.0	2,000 (-3%)	15mo	$138,000	$69	47
2927 N 17th St	0.66mi	5/2.0 (-1)	1,954 (-6%)	12mo	$82,500	$42	45
2900 N 21st St #2902	0.68mi	6/2.0	2,356 (+14%)	6mo	$20,000	$8	41

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: 41.4%
• Equity multiple: 4.25×
• Total profit: $149,937
• Equity at exit: $148,645

10-year hold

• IRR: 37.7%
• Equity multiple: 10.43×
• Total profit: $435,552
• Equity at exit: $320,559

Cash invested: $46,200 (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: 160
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $2,386 high
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,475/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$501
• Net cashflow: $745

Break-even live

Break-even rent $1,443

Max offer price $165,000

Occupancy floor 64%

Sensitivity live

Price	-10% $859	-5% $802	+0% $745	+5% $688	+10% $631
Rent	-10% $556	-5% $650	+0% $745	+5% $839	+10% $933
Rate	-1.0pp $828	-0.5pp $787	base $745	+0.5pp $702	+1.0pp $658

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,386
Total (2 units)			$2,386

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2432 N 28th St Milwaukee, WI	5.0	1.5	1876	$1,600	$0.85	45d	1	0.78mi
2634 N Doctor M.L.K. Jr Dr Milwaukee, WI	5.0	2.5	2512	$3,700	$1.47	45d	1	1.00mi
2704 W Concordia Ave Unit Na Milwaukee, WI	5.0	2.0	1856	$2,500	$1.35	25d	1	1.35mi
806 W Keefe Ave Milwaukee, WI	7.0	2.0	2900	$700	$0.24	45d	1	1.43mi

Listing history 7 events

1. 2026-06-21
   days on market $165,000 Active 8 DOM
2. 2026-06-18
   days on market $165,000 Active 5 DOM
3. 2026-06-17
   days on market $165,000 Active 4 DOM
4. 2026-06-16
   days on market $165,000 Active 3 DOM
5. 2026-06-15
   days on market $165,000 Active 2 DOM
6. 2026-06-13
   remarks 406-char remark
7. 2026-06-13
   listed $165,000 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 6/10 Major FEMA zone X (unshaded) · 72% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°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: $28,632
• − Mortgage interest: −$9,243
• − Property taxes: −$2,475
• − Insurance: −$825
• − Repairs & maintenance: −$2,291
• − Management: −$2,291
• − Depreciation: −$4,800
• Taxable income: $6,708
• Est. tax owed @ 24.0%: −$1,610
• After-tax cash flow: $7,326/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

-13.1% since first listed

22 events — show timeline

• 2026-06-12 Listed $165,000 METROMLS
• 2025-03-29 Rental Removed $1,300 APPFOLIO
• 2025-03-18 Listed for Rent $1,300 APPFOLIO
• 2025-03-04 Sold (MLS) $160,000 METROMLS
• 2025-01-10 Pending — METROMLS
• 2024-12-20 Listed $190,000 METROMLS
• 2022-03-25 Contingent — METROMLS
• 2022-03-25 Sold (MLS) $60,952 METROMLS
• 2022-03-17 Relisted — METROMLS
• 2022-01-01 Listing Removed — METROMLS
• 2021-10-27 Contingent — METROMLS
• 2021-10-23 Price Changed $66,900 METROMLS
• 2021-10-17 Price Changed $67,900 METROMLS
• 2021-10-11 Price Changed $68,900 METROMLS
• 2021-09-23 Relisted — METROMLS
• 2021-09-20 Contingent — METROMLS
• 2021-09-01 Price Changed $69,900 METROMLS
• 2021-08-28 Relisted — METROMLS
• 2021-08-05 Price Changed $74,900 METROMLS
• 2021-07-16 Contingent — METROMLS
• 2021-06-19 Price Changed $79,900 METROMLS
• 2021-06-03 Listed $189,900 METROMLS