2633 N 50th St #2635 · Milwaukee, WI 53210

$219,000

6 bd · 2.0 ba · 2,517 sqft · MultiFamily · 38 Days on market

Built 1924 Good condition 4,356 sqft lot Est $201k · 9% over

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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 +8.8/10.0
• 1% rule +6.9/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• ARV discount +3.6/15.0
• Rent growth +3.5/5.0
• 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

Huge income producing 3 bed/3 bed duplex in St Joseph's neighborhood is ready for purchase. Long-term tenants in both units paying almost 1900/month gross rent! Newer roof, water heaters, unit updates, 2 car garage. Needs some TLC inside and out, but opportunity for ARV as well as immediate rent. Add this to your investment portfolio by calling today! Property being sold AS-IS.

Key facts

• Car garage
• Newer roof
• New flooring

Tags

• FRESHLY REMODELED
• NEW FLOORING
• KITCHEN UPDATES
• BATHROOM UPDATES
• NEWER ROOF
• CAR GARAGE

Property features AI

Finance

• Other: Two-unit building
• Financial info: Total taxes listed (reference only)

Exterior

• Parking: Detached 2-car garage; 2 garage parking spaces (total)
• Utilities: Municipal water; Municipal sewer; 2 electric meters; 2 gas meters
• Home design: 2-story duplex (multi-family, 2 units); Zoned RT2
• Construction: Information source: Assessor/Public Record
• Exterior features: Wood exterior; Less than 1/2 acre lot

Interior

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

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $219k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $546 ($7k/yr) — positive. Per door: $273/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $219k).
• Recommended offer: $212k (3.0% 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 (+3.8%/yr); 143 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 $2,607/mo this rent would consume 65% 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 $2k of loan paydown is wiped out by about $7k 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 $61k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 7 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 $75k; list at $219k implies a 192% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $212,430 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 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 1924 — 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. 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.
9. 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.
10. 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: 9.29%
• Cash-on-cash: 10.69%
• DSCR: 1.48
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $201,360
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2642 N 50th St #2644	0.04mi	6/2.0	2,612 (+4%)	1mo	$264,000	$101	91
2646 N 50th St #2648	0.04mi	6/2.0	2,826 (+12%)	1mo	$155,000	$55	76
2420 N 60th St #2422	0.60mi	6/2.0	2,514 (-0%)	1mo	$295,000	$117	71
2848 N 50th St #2850	0.28mi	6/2.0	2,222 (-12%)	2mo	$239,900	$108	66
2107 N 48th St #2109	0.67mi	6/2.0	2,552 (+1%)	3mo	$250,000	$98	64
2328 N 45th St #2330	0.52mi	7/2.0 (+1)	2,622 (+4%)	2mo	$175,000	$67	62
2338 N 45th St #2340	0.50mi	6/2.0	2,304 (-8%)	2mo	$170,000	$74	61
2771 N 40th St #2773	0.68mi	6/2.0	2,614 (+4%)	2mo	$135,000	$52	60
3013 N 57th St #3015	0.63mi	6/2.5	2,682 (+7%)	1mo	$329,000	$123	57
3012 N 57th St	0.61mi	6/2.0	2,261 (-10%)	3mo	$180,000	$80	52
2139 N 48th St #2141	0.63mi	6/2.0	2,866 (+14%)	1mo	$219,000	$76	47
2977 N 60th St #2979	0.72mi	5/2.0 (-1)	2,273 (-10%)	1mo	$179,900	$79	45

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: 0.6%
• Equity multiple: 1.02×
• Total profit: $1,500
• Equity at exit: $32,654

10-year hold

• IRR: 11.1%
• Equity multiple: 1.90×
• Total profit: $55,298
• Equity at exit: $18,935

Cash invested: $61,320 (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: 143
• Price-to-rent: 14.0×

Monthly cashflow live

• Estimated rent: $2,607 high
• Mortgage (P&I): −$1,148
• Tax est. 1.5%: −$274 /mo · $3,285/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$547
• Net cashflow: $546

Break-even live

Break-even rent $1,916

Max offer price $219,000

Occupancy floor 74%

Sensitivity live

Price	-10% $697	-5% $622	+0% $546	+5% $470	+10% $395
Rent	-10% $340	-5% $443	+0% $546	+5% $649	+10% $752
Rate	-1.0pp $656	-0.5pp $602	base $546	+0.5pp $489	+1.0pp $432

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,608
Total (2 units)			$2,607

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: $54,750
• Closing costs: $6,570
• 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	45d	1	1.47mi

Listing history 38 events

1. 2026-06-21
   days on market $219,000 Active 38 DOM
2. 2026-06-18
   days on market $219,000 Active 35 DOM
3. 2026-06-17
   days on market $219,000 Active 34 DOM
4. 2026-06-16
   days on market $219,000 Active 33 DOM
5. 2026-06-15
   remarks 516-char remark
6. 2026-06-15
   days on market $219,000 Active 32 DOM
7. 2026-06-13
   days on market $219,000 Active 30 DOM
8. 2026-06-13
   days on market $219,000 Active 29 DOM
9. 2026-06-09
   days on market $219,000 Active 26 DOM
10. 2026-06-08
    days on market $219,000 Active 25 DOM
11. 2026-06-07
    days on market $219,000 Active 24 DOM
12. 2026-06-05
    days on market $219,000 Active 21 DOM
13. 2026-06-03
    days on market $219,000 Active 20 DOM
14. 2026-06-02
    days on market $219,000 Active 19 DOM
15. 2026-06-01
    days on market $219,000 Active 18 DOM
16. 2026-05-31
    days on market $219,000 Active 17 DOM
17. 2026-05-14
    listed $219,000 Active
18. 2025-12-26
    historical 381-char remark

    Show marketing remark (381 chars)

    Huge income producing 3 bed/3 bed duplex in St Joseph's neighborhood is ready for purchase. Long-term tenants in both units paying almost 1900/month gross rent! Newer roof, water heaters, unit updates, 2 car garage. Needs some TLC inside and out, but opportunity for ARV as well as immediate rent. Add this to your investment portfolio by calling today! Property being sold AS-IS.

19. 2025-11-17
    price $159,500 381-char remark

    Show marketing remark (381 chars)

    Huge income producing 3 bed/3 bed duplex in St Joseph's neighborhood is ready for purchase. Long-term tenants in both units paying almost 1900/month gross rent! Newer roof, water heaters, unit updates, 2 car garage. Needs some TLC inside and out, but opportunity for ARV as well as immediate rent. Add this to your investment portfolio by calling today! Property being sold AS-IS.

20. 2025-09-22
    price $164,900 381-char remark

    Show marketing remark (381 chars)

    Huge income producing 3 bed/3 bed duplex in St Joseph's neighborhood is ready for purchase. Long-term tenants in both units paying almost 1900/month gross rent! Newer roof, water heaters, unit updates, 2 car garage. Needs some TLC inside and out, but opportunity for ARV as well as immediate rent. Add this to your investment portfolio by calling today! Property being sold AS-IS.

21. 2025-09-22
    status Active 381-char remark

    Show marketing remark (381 chars)

    Huge income producing 3 bed/3 bed duplex in St Joseph's neighborhood is ready for purchase. Long-term tenants in both units paying almost 1900/month gross rent! Newer roof, water heaters, unit updates, 2 car garage. Needs some TLC inside and out, but opportunity for ARV as well as immediate rent. Add this to your investment portfolio by calling today! Property being sold AS-IS.

22. 2025-09-15
    historical 381-char remark

    Show marketing remark (381 chars)

    Huge income producing 3 bed/3 bed duplex in St Joseph's neighborhood is ready for purchase. Long-term tenants in both units paying almost 1900/month gross rent! Newer roof, water heaters, unit updates, 2 car garage. Needs some TLC inside and out, but opportunity for ARV as well as immediate rent. Add this to your investment portfolio by calling today! Property being sold AS-IS.

23. 2025-09-09
    status Active 381-char remark

    Show marketing remark (381 chars)

    Huge income producing 3 bed/3 bed duplex in St Joseph's neighborhood is ready for purchase. Long-term tenants in both units paying almost 1900/month gross rent! Newer roof, water heaters, unit updates, 2 car garage. Needs some TLC inside and out, but opportunity for ARV as well as immediate rent. Add this to your investment portfolio by calling today! Property being sold AS-IS.

24. 2025-09-01
    historical Contingent 381-char remark

    Show marketing remark (381 chars)

    Huge income producing 3 bed/3 bed duplex in St Joseph's neighborhood is ready for purchase. Long-term tenants in both units paying almost 1900/month gross rent! Newer roof, water heaters, unit updates, 2 car garage. Needs some TLC inside and out, but opportunity for ARV as well as immediate rent. Add this to your investment portfolio by calling today! Property being sold AS-IS.

25. 2025-06-17
    price $169,000 381-char remark

    Show marketing remark (381 chars)

    Huge income producing 3 bed/3 bed duplex in St Joseph's neighborhood is ready for purchase. Long-term tenants in both units paying almost 1900/month gross rent! Newer roof, water heaters, unit updates, 2 car garage. Needs some TLC inside and out, but opportunity for ARV as well as immediate rent. Add this to your investment portfolio by calling today! Property being sold AS-IS.

26. 2025-05-08
    listed $175,000 Active 381-char remark

    Show marketing remark (381 chars)

    Huge income producing 3 bed/3 bed duplex in St Joseph's neighborhood is ready for purchase. Long-term tenants in both units paying almost 1900/month gross rent! Newer roof, water heaters, unit updates, 2 car garage. Needs some TLC inside and out, but opportunity for ARV as well as immediate rent. Add this to your investment portfolio by calling today! Property being sold AS-IS.

27. 2022-10-14
    historical 213-char remark

    Show marketing remark (213 chars)

    Jumbo 3/3 fully tenant occupied duplex near St Joseph's hospital. Newer roof and water heaters, lower unit updated prior to current tenant. 2 car garage. Great income producer to add to your portfolio, call today!

28. 2022-09-29
    historical Contingent 213-char remark

    Show marketing remark (213 chars)

    Jumbo 3/3 fully tenant occupied duplex near St Joseph's hospital. Newer roof and water heaters, lower unit updated prior to current tenant. 2 car garage. Great income producer to add to your portfolio, call today!

29. 2022-08-27
    price $134,900 213-char remark

    Show marketing remark (213 chars)

    Jumbo 3/3 fully tenant occupied duplex near St Joseph's hospital. Newer roof and water heaters, lower unit updated prior to current tenant. 2 car garage. Great income producer to add to your portfolio, call today!

30. 2022-08-15
    price $139,900 213-char remark

    Show marketing remark (213 chars)

    Jumbo 3/3 fully tenant occupied duplex near St Joseph's hospital. Newer roof and water heaters, lower unit updated prior to current tenant. 2 car garage. Great income producer to add to your portfolio, call today!

31. 2022-07-18
    price $144,900 213-char remark

    Show marketing remark (213 chars)

    Jumbo 3/3 fully tenant occupied duplex near St Joseph's hospital. Newer roof and water heaters, lower unit updated prior to current tenant. 2 car garage. Great income producer to add to your portfolio, call today!

32. 2022-06-20
    listed $149,900 Active 213-char remark

    Show marketing remark (213 chars)

    Jumbo 3/3 fully tenant occupied duplex near St Joseph's hospital. Newer roof and water heaters, lower unit updated prior to current tenant. 2 car garage. Great income producer to add to your portfolio, call today!

33. 2021-06-26
    status Pending
34. 2021-06-25
    soldstatus $74,900 Sold
35. 2021-06-01
    historical Contingent
36. 2021-05-25
    listed $74,900 Active
37. 2012-02-17
    historical
38. 2012-02-17
    listed $134,900

ⓘ 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: $31,284
• − Mortgage interest: −$12,267
• − Property taxes: −$3,285
• − Insurance: −$1,095
• − Repairs & maintenance: −$2,503
• − Management: −$2,503
• − Depreciation: −$6,371
• Taxable income: $3,260
• Est. tax owed @ 24.0%: −$782
• After-tax cash flow: $5,770/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

This multi-family property is in good condition with recent updates and a well-maintained exterior. It is ready for immediate rent or resale with potential for further value increases through landscaping and exterior paint.

Value-add opportunities

• Both landscaping — enhances curb appeal and rental value
• Both exterior paint — improves curb appeal and resale value

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — enhances curb appeal and rental value ↑
• Both exterior paint — improves curb appeal and resale value ↑

ⓘ 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

+62.3% since first listed

22 events — show timeline

• 2026-05-14 Listed $219,000 METROMLS
• 2025-12-26 Listing Removed — METROMLS
• 2025-11-17 Price Changed $159,500 METROMLS
• 2025-09-22 Price Changed $164,900 METROMLS
• 2025-09-22 Relisted — METROMLS
• 2025-09-15 Listing Removed — METROMLS
• 2025-09-09 Relisted — METROMLS
• 2025-09-01 Contingent — METROMLS
• 2025-06-17 Price Changed $169,000 METROMLS
• 2025-05-08 Listed $175,000 METROMLS
• 2022-10-14 Listing Removed — METROMLS
• 2022-09-29 Contingent — METROMLS
• 2022-08-27 Price Changed $134,900 METROMLS
• 2022-08-15 Price Changed $139,900 METROMLS
• 2022-07-18 Price Changed $144,900 METROMLS
• 2022-06-20 Listed $149,900 METROMLS
• 2021-06-26 Pending — METROMLS
• 2021-06-25 Sold (MLS) $74,900 METROMLS
• 2021-06-01 Contingent — METROMLS
• 2021-05-25 Listed $74,900 METROMLS
• 2012-02-17 Listed $134,900 METROMLS
• 2012-02-17 Listing Removed — METROMLS