5754 N 65th St · Milwaukee, WI 53218

$180,000

4 bd · 2.0 ba · 1,536 sqft · MultiFamily · 170 Days on market

Built 1954 Good condition 5,227 sqft lot $117/sqft · 14% above area Est $158k · 14% over ↓ 8% since listing

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +3.8/5.0
• ARV discount +1.2/15.0
• 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

Freshly remodeled two bedroom duplex, is available for owner occupant or investor, projected income is 2400 a month. Hardwood floors in both units, both kitchens updated with cabinets and countertops. Both bathrooms newly remodeled. Separate furnaces, circuit panels and water heaters. Vinyl siding and vinyl windows. Call today!

Key facts

• Water heaters
• Separate furnaces
• Circuit panels

Tags

• HARDWOOD FLOORS
• UPDATED KITCHENS
• NEWLY REMODELED BATHROOMS
• SEPARATE FURNACES
• CIRCUIT PANELS
• WATER HEATERS

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $180k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $752 ($9k/yr) — positive. Per door: $376/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $180k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.3% 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; 12 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 $2,526/mo this rent would consume 66% 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 $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 + 5.3% rent growth), your $50k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 170 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $158,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 170 days. Have you received any prior offers? Is the seller open to a 12% 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. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.40% ✓
• Cap rate: 11.30%
• Cash-on-cash: 17.90%
• DSCR: 1.80
• GRM: 5.9

CMA / ARV

• ARV (median comp): $157,931
• List price: $180,000
• Delta: 13.97%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6600 W Carmen Ave #6602	0.10mi	4/2.0	1,536 (0%)	14mo	$150,000	$98	84
5908 N 65th St #5910	0.18mi	4/2.0	1,536 (0%)	21mo	$155,000	$101	74
5831 N 76th St	0.73mi	4/3.0	1,704 (+11%)	1mo	$140,000	$82	43

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: 12.0%
• Equity multiple: 1.49×
• Total profit: $24,693
• Equity at exit: $26,839

10-year hold

• IRR: 22.7%
• Equity multiple: 3.16×
• Total profit: $108,899
• Equity at exit: $15,563

Cash invested: $50,400 (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: 11.9×

Monthly cashflow live

• Estimated rent: $2,526 high
• Mortgage (P&I): −$944
• Tax est. 1.5%: −$225 /mo · $2,700/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$530
• Net cashflow: $752

Break-even live

Break-even rent $1,575

Max offer price $180,000

Occupancy floor 65%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,526
Total (2 units)			$2,526

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6046 N 61st St Unit 2 Milwaukee, WI	3.0	1.0	1250	$1,395	$1.12	44d	1	0.42mi
6046 N 61st St Unit 1 Milwaukee, WI	3.0	1.0	1200	$1,345	$1.12	24d	1	0.42mi
6921 W Herbert Ave Milwaukee, WI	3.0	2.0	1414	$1,620	$1.15	4d	1	0.56mi
5268 N 64th St Milwaukee, WI	5.0	1.0	1672	$1,850	$1.11	11d	1	0.65mi
6919-6921 W Brentwood Ave Unit 6919 Milwaukee, WI	3.0	1.5	1200	$1,699	$1.42	4d	1	0.87mi
5955 N 79th St Unit 1 Milwaukee, WI	3.0	1.0	1100	$1,650	$1.50	44d	1	0.94mi
5908 N 80th St Milwaukee, WI	3.0	1.0	1056	$1,550	$1.47	24d	1	0.95mi
4900 N 58th St Milwaukee, WI	3.0	1.0	1455	$1,450	$1.00	4d	1	1.19mi
6813 W Hampton Ave Unit Rear (Unit B) Milwaukee, WI	3.0	2.0	1600	$1,350	$0.84	24d	1	1.30mi
5073 N 48th St Milwaukee, WI	4.0	1.0	1152	$1,595	$1.38	15d	1	1.32mi
4340 W Eggert Pl Milwaukee, WI	4.0	1.0	1066	$1,695	$1.59	24d	1	1.47mi
4334 W Eggert Pl Milwaukee, WI	4.0	1.0	1077	$1,695	$1.57	24d	1	1.48mi

Listing history 17 events

1. 2026-06-18
   days on market $180,000 Active 170 DOM
2. 2026-06-17
   days on market $180,000 Active 169 DOM
3. 2026-06-16
   days on market $180,000 Active 168 DOM
4. 2026-06-15
   days on market $180,000 Active 167 DOM
5. 2026-06-13
   days on market $180,000 Active 165 DOM
6. 2026-06-13
   days on market $180,000 Active 164 DOM
7. 2026-06-09
   days on market $180,000 Active 161 DOM
8. 2026-06-08
   days on market $180,000 Active 160 DOM
9. 2026-06-07
   days on market $180,000 Active 159 DOM
10. 2026-06-05
    days on market $180,000 Active 156 DOM
11. 2026-06-03
    days on market $180,000 Active 155 DOM
12. 2026-06-02
    days on market $180,000 Active 154 DOM
13. 2026-06-01
    days on market $180,000 Active 153 DOM
14. 2026-05-31
    days on market $180,000 Active 152 DOM
15. 2026-04-08
    price $180,000 329-char remark

    Show marketing remark (329 chars)

    Freshly remodeled two bedroom duplex, is available for owner occupant or investor, projected income is 2400 a month. Hardwood floors in both units, both kitchens updated with cabinets and countertops. Both bathrooms newly remodeled. Separate furnaces, circuit panels and water heaters. Vinyl siding and vinyl windows. Call today!

16. 2026-03-20
    price $185,000 329-char remark

    Show marketing remark (329 chars)

    Freshly remodeled two bedroom duplex, is available for owner occupant or investor, projected income is 2400 a month. Hardwood floors in both units, both kitchens updated with cabinets and countertops. Both bathrooms newly remodeled. Separate furnaces, circuit panels and water heaters. Vinyl siding and vinyl windows. Call today!

17. 2025-12-30
    listed $195,000 Active 329-char remark

    Show marketing remark (329 chars)

    Freshly remodeled two bedroom duplex, is available for owner occupant or investor, projected income is 2400 a month. Hardwood floors in both units, both kitchens updated with cabinets and countertops. Both bathrooms newly remodeled. Separate furnaces, circuit panels and water heaters. Vinyl siding and vinyl windows. Call today!

ⓘ 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 ≥100°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: $30,312
• − Mortgage interest: −$10,083
• − Property taxes: −$2,700
• − Insurance: −$900
• − Repairs & maintenance: −$2,425
• − Management: −$2,425
• − Depreciation: −$5,236
• Taxable income: $6,543
• Est. tax owed @ 24.0%: −$1,570
• After-tax cash flow: $7,449/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

Good 80/100 Cosmetic rehab

A freshly remodeled two-bedroom duplex with good condition and minimal repairs needed. Potential for further value increase with cosmetic updates and landscaping.

Value-add opportunities

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics.
• Both Refrigerator and other appliances — Improves move-in readiness and attracts tenants/investors.
• Both Landscaping and curb appeal — Enhances curb appeal and attracts tenants/investors.
• Both New flooring in bathrooms — Improves aesthetics and functionality in bathrooms.
• Both New countertops in kitchen — Enhances kitchen functionality and aesthetics.
• Both New lighting fixtures — Improves lighting and aesthetics in common areas and bathrooms.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics. ↑
• Both Refrigerator and other appliances — Improves move-in readiness and attracts tenants/investors. ↑
• Both Landscaping and curb appeal — Enhances curb appeal and attracts tenants/investors. ↑
• Both New flooring in bathrooms — Improves aesthetics and functionality in bathrooms. ↑
• Both New countertops in kitchen — Enhances kitchen functionality and aesthetics. ↑
• Both New lighting fixtures — Improves lighting and aesthetics in common areas and bathrooms. ↑

ⓘ 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): 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

-7.7% since first listed

3 events — show timeline

• 2026-04-08 Price Changed $180,000 METROMLS
• 2026-03-20 Price Changed $185,000 METROMLS
• 2025-12-30 Listed $195,000 METROMLS