3251 N 44th St Unit 3251A · Milwaukee, WI 53216

$179,900

4 bd · 2.0 ba · 1,930 sqft · MultiFamily · 69 Days on market

Built 1928 Fair condition 4,791 sqft lot $93/sqft · 23% above area Est $146k · 23% over ↓ 10% 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 +26.0/30.0
• DSCR +8.7/10.0
• 1% rule +6.9/10.0
• Appreciation +5.7/10.0
• Rent growth +4.3/5.0
• Livability +4.0/5.0
• Condition / age +2.2/5.0
• Schools +1.2/10.0
• ARV discount +0.0/15.0

Multi-family units

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

Listing remarks MLS

Nice 2/2 craftsmen / Bungalow style 2/2 duplex located north of Burleigh. This property has a lower unit with formal dinning room and all the old world charm you would expect. Long term residents. Manageable back yard and garage with extra room. New roof, porches, railings, upper level siding, and windows. Easy choice to make this one yours.

Key facts

• Formal dinning room
• Manageable back yard
• Extra room

Tags

• BUNGALOW STYLE
• LOWER UNIT
• FORMAL DINNING ROOM
• MANAGEABLE BACK YARD
• EXTRA ROOM
• NEW ROOF

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $446 ($5k/yr) — positive. Per door: $223/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $169k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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 (+7.0%/yr); 126 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 44% 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 $2,138/mo this rent would consume 55% of the median local household income ($47k/yr) (locally 2202% 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 $4k of equity ($1k loan paydown + $2k appreciation (1.3% local appreciation)).
• Milwaukee County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (1.3% appreciation + 7.0% rent growth), your $50k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($169k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $169,106 (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 1928 — 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: 1.19% ✓
• Cap rate: 9.27%
• Cash-on-cash: 10.62%
• DSCR: 1.47
• GRM: 7.0

CMA / ARV

• ARV (median comp): $146,403
• List price: $179,900
• Delta: 22.88%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3024 N 44th St	0.29mi	4/2.0	1,998 (+4%)	1mo	$120,775	$60	80
3148 N 39th St #3150	0.39mi	4/2.0	2,044 (+6%)	2mo	$128,888	$63	71
3166 N 39th St #3168	0.38mi	4/2.0	2,064 (+7%)	2mo	$145,000	$70	69
3287 N 49th St #3289	0.32mi	4/2.0	1,710 (-11%)	3mo	$181,000	$106	64
3125 N 48th St #3127	0.31mi	4/2.0	2,213 (+15%)	4mo	$310,000	$140	58
3259 N 35th St	0.58mi	4/2.0	1,773 (-8%)	3mo	$185,000	$104	57
3260 N 34th St Unit 3260A	0.66mi	4/2.0	1,776 (-8%)	2mo	$86,000	$48	54
3068 N 34th St Unit 3068A	0.70mi	5/2.0 (+1)	2,087 (+8%)	0mo	$110,000	$53	49
2838 N 40th St #2840	0.60mi	4/2.0	2,202 (+14%)	2mo	$65,000	$30	47
2866 N 52nd St #2868	0.67mi	4/2.0	2,215 (+15%)	1mo	$257,000	$116	43
3233 W Auer Ave	0.72mi	4/2.0	1,657 (-14%)	1mo	$78,500	$47	42
5601 W Brooklyn Pl	0.75mi	3/2.0 (-1)	2,186 (+13%)	1mo	$310,000	$142	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.33% appreciation · 7.01% rent growth · sell at horizon

5-year hold

• IRR: 16.2%
• Equity multiple: 1.87×
• Total profit: $43,669
• Equity at exit: $64,508

10-year hold

• IRR: 21.7%
• Equity multiple: 4.02×
• Total profit: $152,129
• Equity at exit: $88,170

Cash invested: $50,372 (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 53216

• Home prices YoY: 0.3%
• Rents YoY: 7.0%
• Active inventory: 126
• Price-to-rent: 14.0×

Monthly cashflow live

• Estimated rent: $2,138 high
• Mortgage (P&I): −$943
• Tax est. 1.5%: −$225 /mo · $2,698/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$449
• Net cashflow: $446

Break-even live

Break-even rent $1,574

Max offer price $179,900

Occupancy floor 74%

Sensitivity live

Price	-10% $570	-5% $508	+0% $446	+5% $384	+10% $321
Rent	-10% $277	-5% $361	+0% $446	+5% $530	+10% $615
Rate	-1.0pp $536	-0.5pp $492	base $446	+0.5pp $399	+1.0pp $352

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,138
Total (2 units)			$2,138

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3123 N 42nd St Milwaukee, WI	4.0	1.0	1500	$1,700	$1.13	24d	1	0.22mi
3122 N 42nd St Milwaukee, WI	3.0	1.0	1323	$1,495	$1.13	5d	1	0.24mi
2976 N 49th St Milwaukee, WI	3.0	1.0	1700	$1,300	$0.76	17d	1	0.43mi
3155 N 52nd St Milwaukee, WI	3.0	2.0	1300	$1,400	$1.08	44d	1	0.51mi
2713 N 44th St Milwaukee, WI	3.0	1.0	1450	$1,350	$0.93	44d	1	0.67mi
3925 N 42nd St Milwaukee, WI	3.0	1.0	1300	$1,675	$1.29	44d	1	0.75mi
2629 N 50th St Unit Upper Milwaukee, WI	3.0	1.0	1258	$1,375	$1.09	3d	1	0.86mi
4139 N 50th St Milwaukee, WI	3.0	1.0	1275	$1,600	$1.25	44d	1	1.07mi
2704 W Concordia Ave Unit Na Milwaukee, WI	5.0	2.0	1856	$2,500	$1.35	24d	1	1.09mi
2870 N 29th St #2872 Milwaukee, WI	3.0	1.0	1300	$1,250	$0.96	44d	1	1.09mi
2438 N 51st St Unit 2 Milwaukee, WI	3.0	1.0	1300	$1,650	$1.27	24d	1	1.09mi
2409 N 49th St Milwaukee, WI	3.0	1.0	1335	$1,248	$0.93	44d	1	1.10mi
2809 W Clarke St Unit 12811 Milwaukee, WI	3.0	1.0	1400	$1,200	$0.86	17d	1	1.31mi
2137 N 47th St Milwaukee, WI	5.0	2.0	1723	$1,850	$1.07	15d	1	1.40mi
2432 N 28th St Milwaukee, WI	5.0	1.5	1876	$1,600	$0.85	44d	1	1.46mi
4079 N 63rd St Milwaukee, WI	3.0	1.0	1600	$1,595	$1.00	20d	1	1.46mi

Listing history 8 events

1. 2026-06-02
   status $179,900 Pending 69 DOM
2. 2026-06-01
   days on market $179,900 Active 69 DOM
3. 2026-05-31
   days on market $179,900 Active 68 DOM
4. 2026-03-24
   listed $179,900 Active 343-char remark

   Show marketing remark (343 chars)

   Nice 2/2 craftsmen / Bungalow style 2/2 duplex located north of Burleigh. This property has a lower unit with formal dinning room and all the old world charm you would expect. Long term residents. Manageable back yard and garage with extra room. New roof, porches, railings, upper level siding, and windows. Easy choice to make this one yours.

5. 2026-01-01
   historical 343-char remark

   Show marketing remark (343 chars)

   Nice 2/2 craftsmen / Bungalow style 2/2 duplex located north of Burleigh. This property has a lower unit with formal dinning room and all the old world charm you would expect. Long term residents. Manageable back yard and garage with extra room. New roof, porches, railings, upper level siding, and windows. Easy choice to make this one yours.

6. 2025-09-22
   price $189,900 343-char remark

   Show marketing remark (343 chars)

   Nice 2/2 craftsmen / Bungalow style 2/2 duplex located north of Burleigh. This property has a lower unit with formal dinning room and all the old world charm you would expect. Long term residents. Manageable back yard and garage with extra room. New roof, porches, railings, upper level siding, and windows. Easy choice to make this one yours.

7. 2025-09-04
   price $194,900 343-char remark

   Show marketing remark (343 chars)

   Nice 2/2 craftsmen / Bungalow style 2/2 duplex located north of Burleigh. This property has a lower unit with formal dinning room and all the old world charm you would expect. Long term residents. Manageable back yard and garage with extra room. New roof, porches, railings, upper level siding, and windows. Easy choice to make this one yours.

8. 2025-08-18
   listed $199,900 Active 343-char remark

   Show marketing remark (343 chars)

   Nice 2/2 craftsmen / Bungalow style 2/2 duplex located north of Burleigh. This property has a lower unit with formal dinning room and all the old world charm you would expect. Long term residents. Manageable back yard and garage with extra room. New roof, porches, railings, upper level siding, and windows. Easy choice to make this one yours.

ⓘ 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: $25,656
• − Mortgage interest: −$10,077
• − Property taxes: −$2,698
• − Insurance: −$900
• − Repairs & maintenance: −$2,052
• − Management: −$2,052
• − Depreciation: −$5,233
• Taxable income: $2,642
• Est. tax owed @ 24.0%: −$634
• After-tax cash flow: $4,715/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 · 2 photos

Fair 45/100 Moderate rehab

This 2/2 duplex has a fair exterior with some weathered siding and overgrown landscaping. A moderate rehab is needed to paint the exterior and trim the landscaping to improve its resale and rental value.

Repairs flagged

• Moderate exterior siding — Weathered and discolored
• Minor landscaping — Overgrown grass

Value-add opportunities

• Both paint exterior — Enhances curb appeal and resale value
• Both landscaping — Improves curb appeal and rental appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Weathered and discolored	Moderate	$3,000–15,000
landscaping · Overgrown grass	Minor	$500–3,000
Total estimated repair cost · 2 items		$3,500–18,000

Value-add ROI direction

• Both paint exterior — Enhances curb appeal and resale value ↑
• Both landscaping — Improves curb appeal and rental 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): 30,345
• Household income: $46,752
• Rent vs Own: 52.7% rent · 47.3% own
• Severe rent burden: 2202.0

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 (81%)
• Race & ethnicity: Black 81% White 9% Hispanic / Latino 5% Two or more races 5% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 1%
• Foreign-born: 3% · Canada, Philippines, China
• Languages at home: 93% English-only · Spanish 4% 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: ▲ 1.33%
• Current HPI: 381.0954
• Rent YoY: ▲ 7.01%
• 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

-10.0% since first listed

5 events — show timeline

• 2026-03-24 Listed $179,900 METROMLS
• 2026-01-01 Listing Removed — METROMLS
• 2025-09-22 Price Changed $189,900 METROMLS
• 2025-09-04 Price Changed $194,900 METROMLS
• 2025-08-18 Listed $199,900 METROMLS