2200 N 42nd St #2202 · Milwaukee, WI 53208

$36,500

6 bd · 2.0 ba · 2,565 sqft · MultiFamily · 48 Days on market

Built 1911 3,484 sqft lot

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +5.0/5.0
• Livability +4.0/5.0
• 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

Sizeable 3/3 Duplex with great potential for owner occupants and investors. This building comes with built-in china cabnets, newer furnace and water heaters. The upper unit is freshly painted in move-in condition and weatherized last year. Room sizes to follow

Key facts

• 3,484 sq ft lot
• 2 garage spots
• Built 1911

Tags

• INVESTMENT OPPORTUNITY
• SEPARATE LIVING SPACES
• ACCESS TO GREEN SPACE

Property features AI

Exterior

• Parking: Detached 2-car garage; Total of 2 garage parking spaces
• Utilities: Municipal water; Municipal sewer; 2 electric meters; 2 gas meters
• Home design: 2-story duplex; Multi-family property
• Construction: Information source for year built: Assessor/Public Record
• Exterior features: Vinyl exterior; Lot less than 1/2 acre (approx. 0.08 acre); Zoning: RT4

Interior

• Kitchen: Unit 2 kitchen located on upper level
• Bedrooms: Unit 1: 3 bedrooms; Unit 2: 3 bedrooms (master bedroom 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 $36k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $857/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $36k).
• Recommended offer: $35k (3.0% below list) — sets the bar for market timing.
• Cap rate 62.7% 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 (+10.8%/yr); 92 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $2,490/mo this rent would consume 57% of the median local household income ($53k/yr) (locally 1568% 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 $252 of loan paydown is wiped out by about $1k 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 + 8.0% rent growth), your $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($35k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 14y ago; this cycle's ask has dropped $4k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1911 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $35,405 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% 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 1911 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 6.82% ✓
• Cap rate: 62.67%
• Cash-on-cash: 201.35%
• DSCR: 9.96
• GRM: 1.2

CMA / ARV

• ARV (on-the-fly): $189,810
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2200 N 42nd St #2202	0.00mi	6/2.0	2,565 (0%)	0mo	$37,000	$14	100
2328 N 45th St #2330	0.25mi	7/2.0 (+1)	2,622 (+2%)	2mo	$175,000	$67	78
2107 N 48th St #2109	0.45mi	6/2.0	2,552 (-0%)	3mo	$250,000	$98	76
3903 W Walnut St #3905	0.52mi	6/2.0	2,600 (+1%)	1mo	$84,000	$32	72
2338 N 45th St #2340	0.27mi	6/2.0	2,304 (-10%)	2mo	$170,000	$74	69
2201 N 33rd St	0.52mi	6/2.0	2,446 (-5%)	3mo	$186,300	$76	66
2771 N 40th St #2773	0.70mi	6/2.0	2,614 (+2%)	2mo	$135,000	$52	62
2642 N 50th St #2644	0.75mi	6/2.0	2,612 (+2%)	1mo	$264,000	$101	61
2139 N 48th St #2141	0.44mi	6/2.0	2,866 (+12%)	1mo	$219,000	$76	59
1800 N 36th St	0.55mi	6/2.0	2,320 (-10%)	1mo	$147,700	$64	58
3127 W Garfield Ave #3129	0.61mi	5/2.0 (-1)	2,332 (-9%)	0mo	$130,000	$56	51
4907 W Vine St	0.57mi	6/2.0	2,900 (+13%)	3mo	$465,000	$160	50

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 12.40×
• Total profit: $116,502
• Equity at exit: $5,442

10-year hold

• IRR: —
• Equity multiple: 30.56×
• Total profit: $302,131
• Equity at exit: $3,156

Cash invested: $10,220 (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 53208

• Home prices YoY: -27.1%
• Rents YoY: 10.8%
• Active inventory: 92
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $2,490 high
• Mortgage (P&I): −$191
• Tax est. 1.5%: −$46 /mo · $548/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$523
• Net cashflow: $1,715

Break-even live

Break-even rent $319

Max offer price $36,500

Occupancy floor 26%

Sensitivity live

Price	-10% $1,740	-5% $1,727	+0% $1,715	+5% $1,702	+10% $1,690
Rent	-10% $1,518	-5% $1,617	+0% $1,715	+5% $1,813	+10% $1,912
Rate	-1.0pp $1,733	-0.5pp $1,724	base $1,715	+0.5pp $1,705	+1.0pp $1,696

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,490
Total (2 units)			$2,490

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: $9,125
• Closing costs: $1,095
• Reserves months: —
• Total cash needed: —

Rent comps 1 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	0.88mi

Listing history 6 events

1. 2026-04-27
   status Pending
2. 2026-04-25
   historical Contingent
3. 2026-04-10
   price $36,500
4. 2026-03-09
   listed $40,000 Active
5. 2012-10-10
   listed $119,900 260-char remark

   Show marketing remark (260 chars)

   Sizeable 3/3 Duplex with great potential for owner occupants and investors. This building comes with built-in china cabnets, newer furnace and water heaters. The upper unit is freshly painted in move-in condition and weatherized last year. Room sizes to follow

6. 2012-10-10
   historical 260-char remark

   Show marketing remark (260 chars)

   Sizeable 3/3 Duplex with great potential for owner occupants and investors. This building comes with built-in china cabnets, newer furnace and water heaters. The upper unit is freshly painted in move-in condition and weatherized last year. Room sizes to follow

ⓘ 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) · 71% 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: $29,880
• − Mortgage interest: −$2,045
• − Property taxes: −$548
• − Insurance: −$182
• − Repairs & maintenance: −$2,390
• − Management: −$2,390
• − Depreciation: −$1,062
• Taxable income: $21,263
• Est. tax owed @ 24.0%: −$5,103
• After-tax cash flow: $15,475/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): 27,201
• Household income: $52,690
• Rent vs Own: 60.8% rent · 39.2% own
• Severe rent burden: 1568.0

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: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Black 41% White 36% Hispanic / Latino 10% Asian 9% Two or more races 6%
• Hispanic origin (detail): Mexican 7% Puerto Rican 2%
• Common ancestry: Romanian 5% Italian 2% Lithuanian 2%
• Foreign-born: 9% · Canada, Philippines
• Languages at home: 84% English-only · Other Asian/Pacific 6% Spanish 6% French/Haitian/Cajun 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: ▼ -123.92%
• Current HPI: 333.7268
• Rent YoY: ▲ 10.78%
• 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

-69.6% since first listed

6 events — show timeline

• 2026-04-27 Pending — METROMLS
• 2026-04-25 Contingent — METROMLS
• 2026-04-10 Price Changed $36,500 METROMLS
• 2026-03-09 Listed $40,000 METROMLS
• 2012-10-10 Listing Removed — METROMLS
• 2012-10-10 Listed $119,900 METROMLS