2748 N 44th St #2750 · Milwaukee, WI 53210

$154,900

4 bd · 2.0 ba · 2,682 sqft · MultiFamily · 69 Days on market

Built 1929 Fair condition 4,356 sqft lot $58/sqft · at area comps Est $155k · at est.

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.4/15.0
• Livability +4.0/5.0
• Rent growth +3.5/5.0
• Condition / age +2.2/5.0
• 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

Huge 2/2 duplex fully rented duplex in popular ''St. Joes'' Area. This Duplex has garage parking in the back. A small yard, newer roof, trim in last 12 years, and separate utilities. Lower and upper units both offer a formal dinning room and eat in kitchen with tons of natural woodwork. Great place to start your investing career. Rents are low. Hurry while it's still available with tons of upside.

Key facts

• Separate utilities
• Formal dining room
• Newer roof

Tags

• GARAGE PARKING
• SMALL YARD
• NEWER ROOF
• SEPARATE UTILITIES
• FORMAL DINING ROOM
• EAT IN KITCHEN

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $155k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $769 ($9k/yr) — positive. Per door: $384/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $146k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.2% 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 (+3.8%/yr); 142 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $2,328/mo this rent would consume 58% of the median local household income ($48k/yr) (locally 1730% 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 $5k 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 + 3.8% rent growth), your $43k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 4 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 $37k; list at $155k implies a 319% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,606 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.50% ✓
• Cap rate: 12.25%
• Cash-on-cash: 21.27%
• DSCR: 1.95
• GRM: 5.5

CMA / ARV

• ARV (median comp): $154,633
• List price: $154,900
• Delta: 0.17%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2924 N 48th St	0.33mi	4/2.0	2,518 (-6%)	5mo	$250,000	$99	71
2661 N 39th St #2663	0.32mi	4/2.0	2,469 (-8%)	2mo	$145,000	$59	70
2342 N 45th St #2344	0.52mi	4/2.0	2,577 (-4%)	3mo	$125,000	$49	67
2631 N 33rd St #2633	0.68mi	4/2.0	2,470 (-8%)	1mo	$72,500	$29	54
2642 N 51st St #2644	0.47mi	4/2.0	2,294 (-14%)	1mo	$122,500	$53	54
3023 N 52nd St #3025	0.63mi	4/2.0	2,408 (-10%)	2mo	$139,900	$58	52
2808 N 52nd St #2810	0.51mi	4/2.0	2,292 (-14%)	1mo	$153,000	$67	51
3128 N 52nd St #3130	0.69mi	4/2.0	2,400 (-10%)	0mo	$283,000	$118	50
2182 N 48th St	0.74mi	4/2.0	2,410 (-10%)	4mo	$199,900	$83	46
2229 N 41st St #2231	0.65mi	4/2.0	2,346 (-12%)	5mo	$139,500	$59	45
3044 N 54th St #3046	0.72mi	4/2.0	2,279 (-15%)	0mo	$200,000	$88	41
2770 N 56th St #2772	0.74mi	4/2.0	2,281 (-15%)	4mo	$185,000	$81	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 · 3.82% rent growth · sell at horizon

5-year hold

• IRR: 14.7%
• Equity multiple: 1.60×
• Total profit: $25,826
• Equity at exit: $23,096

10-year hold

• IRR: 24.1%
• Equity multiple: 3.16×
• Total profit: $93,749
• Equity at exit: $13,393

Cash invested: $43,372 (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 53210

• Home prices YoY: -21.5%
• Rents YoY: 3.8%
• Active inventory: 142
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $2,328 high
• Mortgage (P&I): −$812
• Tax est. 1.5%: −$194 /mo · $2,324/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$489
• Net cashflow: $769

Break-even live

Break-even rent $1,355

Max offer price $154,900

Occupancy floor 62%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,328
Total (2 units)			$2,328

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	44d	1	1.07mi
2704 W Concordia Ave Unit Na Milwaukee, WI	5.0	2.0	1856	$2,500	$1.35	24d	1	1.26mi

Listing history 13 events

1. 2026-06-02
   status $154,900 Pending 69 DOM
2. 2026-06-01
   days on market $154,900 Active 69 DOM
3. 2026-05-31
   days on market $154,900 Active 68 DOM
4. 2026-03-17
   listed $154,900 Active 401-char remark

   Show marketing remark (401 chars)

   Huge 2/2 duplex fully rented duplex in popular ''St. Joes'' Area. This Duplex has garage parking in the back. A small yard, newer roof, trim in last 12 years, and separate utilities. Lower and upper units both offer a formal dinning room and eat in kitchen with tons of natural woodwork. Great place to start your investing career. Rents are low. Hurry while it's still available with tons of upside.

5. 2026-01-01
   historical 401-char remark

   Show marketing remark (401 chars)

   Huge 2/2 duplex fully rented duplex in popular ''St. Joes'' Area. This Duplex has garage parking in the back. A small yard, newer roof, trim in last 12 years, and separate utilities. Lower and upper units both offer a formal dinning room and eat in kitchen with tons of natural woodwork. Great place to start your investing career. Rents are low. Hurry while it's still available with tons of upside.

6. 2025-12-15
   historical $1,099
7. 2025-11-03
   listed $1,099
8. 2025-09-22
   price $159,900 401-char remark

   Show marketing remark (401 chars)

   Huge 2/2 duplex fully rented duplex in popular ''St. Joes'' Area. This Duplex has garage parking in the back. A small yard, newer roof, trim in last 12 years, and separate utilities. Lower and upper units both offer a formal dinning room and eat in kitchen with tons of natural woodwork. Great place to start your investing career. Rents are low. Hurry while it's still available with tons of upside.

9. 2025-09-10
   listed $169,900 Active 401-char remark

   Show marketing remark (401 chars)

   Huge 2/2 duplex fully rented duplex in popular ''St. Joes'' Area. This Duplex has garage parking in the back. A small yard, newer roof, trim in last 12 years, and separate utilities. Lower and upper units both offer a formal dinning room and eat in kitchen with tons of natural woodwork. Great place to start your investing career. Rents are low. Hurry while it's still available with tons of upside.

10. 2012-10-10
    listed $37,900
11. 2012-10-10
    historical
12. 2009-03-13
    soldstatus $37,000
13. 2006-01-27
    soldstatus $110,000

ⓘ 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 ≥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: $27,936
• − Mortgage interest: −$8,677
• − Property taxes: −$2,324
• − Insurance: −$774
• − Repairs & maintenance: −$2,235
• − Management: −$2,235
• − Depreciation: −$4,506
• Taxable income: $7,185
• Est. tax owed @ 24.0%: −$1,724
• After-tax cash flow: $7,499/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 · 1 photo

Fair 45/100 Moderate rehab

This 2/2 duplex requires moderate renovations to improve its curb appeal and interior aesthetics, enhancing both resale and rental value.

Repairs flagged

• Minor Kitchen cabinets — Worn and dated
• Minor Bathroom fixtures — Worn and dated
• Moderate Exterior siding — Some wear visible
• Moderate Flooring — Worn and dated
• Moderate Paint — Faded and uneven

Value-add opportunities

• Both Painting and updating kitchen cabinets — Improves curb appeal and interior aesthetics
• Both Flooring replacement — Enhances comfort and value
• Both Bathroom updates — Modernizes and increases appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn and dated	Minor	$500–3,000
Bathroom fixtures · Worn and dated	Minor	$500–3,000
Exterior siding · Some wear visible	Moderate	$3,000–15,000
Flooring · Worn and dated	Moderate	$3,000–15,000
Paint · Faded and uneven	Moderate	$3,000–15,000
Total estimated repair cost · 5 items		$10,000–51,000

Value-add ROI direction

• Both Painting and updating kitchen cabinets — Improves curb appeal and interior aesthetics ↑
• Both Flooring replacement — Enhances comfort and value ↑
• Both Bathroom updates — Modernizes and increases appeal ↑

ⓘ 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): 23,922
• Household income: $48,217
• Rent vs Own: 60.4% rent · 39.6% own
• Severe rent burden: 1730.0

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 (71%)
• Race & ethnicity: Black 71% White 17% Hispanic / Latino 6% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Romanian 2% Portuguese 1% Italian 1%
• Foreign-born: 3% · Canada, Philippines
• Languages at home: 94% English-only · Spanish 3% Other Asian/Pacific 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: ▼ -76.77%
• Current HPI: 280.0133
• Rent YoY: ▲ 3.82%
• 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

+40.8% since first listed

10 events — show timeline

• 2026-03-17 Listed $154,900 METROMLS
• 2026-01-01 Listing Removed — METROMLS
• 2025-12-15 Rental Removed $1,099 APPFOLIO
• 2025-11-03 Listed for Rent $1,099 APPFOLIO
• 2025-09-22 Price Changed $159,900 METROMLS
• 2025-09-10 Listed $169,900 METROMLS
• 2012-10-10 Listing Removed — METROMLS
• 2012-10-10 Listed $37,900 METROMLS
• 2009-03-13 Sold (MLS) $37,000 METROMLS
• 2006-01-27 Sold (MLS) $110,000 METROMLS