1722 S 18th St Unit 1722A · Milwaukee, WI 53204

$229,900

4 bd · 2.0 ba · 1,767 sqft · MultiFamily · 3 Days on market

Built 1890 Good condition 3,920 sqft lot $130/sqft · 50% above area Est $154k · 50% 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 +19.1/30.0
• Appreciation +10.0/10.0
• DSCR +6.0/10.0
• 1% rule +5.1/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +3.0/5.0
• Schools +1.2/10.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 2 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Charming 2-unit duplex in Milwaukee's vibrant Clarke Square neighborhood! This well-maintained 1890-built home offers 5 bedrooms and 2 bathrooms across 1,768 sq ft. Both units are rented! Recent updates (2024) include brand-new siding, a new roof, and several new windows -- giving you peace of mind and lower maintenance for years to come. Convenient location near parks, schools, shopping, and easy access to downtown Milwaukee. A solid investment property and the perfect add to any portfolio! Don't miss out -- schedule your showing today!

Key facts

• New siding
• Convenient location
• New roof

Tags

• CLARKE SQUARE NEIGHBORHOOD
• NEW SIDING
• NEW ROOF
• NEW WINDOWS
• CONVENIENT LOCATION

Property features AI

Finance

• Other: Inclusions: 2 stoves, 2 refrigerators; Exclusions: Seller/tenant personal property

Exterior

• Utilities: Municipal water; Municipal sewer; Separate electric meters for each unit (2 electric meters); Separate gas meters for each unit (2 gas meters)
• Home design: Two-story duplex; Multi-family property; Zoned RES
• Construction: Information source for year built: Assessor/Public Record
• Exterior features: Vinyl exterior; Lot is approximately 0.09 acres (less than 1/2 acre)

Interior

• Kitchen: Unit 2 kitchen is on the upper level (approx. 16 x 15); Includes 2 stoves and 2 refrigerators
• Bedrooms: Unit 1 has 3 bedrooms; Unit 2 has 2 bedrooms (master and second bedroom on the upper level)
• Bathrooms: Unit 1 has 1 full bathroom; Unit 2 has 1 full bathroom
• Interior features: Full block basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $230k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $244 ($3k/yr) — positive. Per door: $122/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $230k).
• Cap rate 7.6% 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 (+2.0%/yr); 55 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 $2,320/mo this rent would consume 61% of the median local household income ($46k/yr) (locally 2357% 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 $25k of equity ($2k loan paydown + $23k appreciation (10.0% local appreciation)).
• Milwaukee County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 2.0% rent growth), your $64k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $229,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.01% ✓
• Cap rate: 7.57%
• Cash-on-cash: 4.55%
• DSCR: 1.20
• GRM: 8.3

CMA / ARV

• ARV (median comp): $153,752
• List price: $229,900
• Delta: 49.53%
• 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
1571 S 14th St	0.33mi	4/2.0	1,830 (+4%)	0mo	$155,000	$85	78
2133 S 20th St	0.44mi	4/2.0	1,754 (-1%)	3mo	$130,000	$74	76
1423 S Comstock Ave	0.34mi	5/2.0 (+1)	1,731 (-2%)	3mo	$148,148	$86	73
1600 S Muskego Ave	0.15mi	5/2.0 (+1)	1,910 (+8%)	3mo	$140,140	$73	72
2111 W Burnham St Unit 2111A	0.23mi	4/2.0	1,977 (+12%)	0mo	$194,000	$98	69
1300 W Greenfield Ave	0.51mi	5/2.0 (+1)	1,692 (-4%)	3mo	$155,000	$92	62
2322 S 15th Pl	0.66mi	5/2.0 (+1)	1,694 (-4%)	4mo	$265,000	$156	54
2225 S 17th St Unit 2225A	0.53mi	4/2.0	1,576 (-11%)	5mo	$160,000	$102	54
2119 S 14th St	0.48mi	5/2.0 (+1)	1,968 (+11%)	3mo	$220,000	$112	51
2239 S 11th St	0.72mi	4/2.0	1,920 (+9%)	4mo	$260,000	$135	49
2607 W Orchard St	0.65mi	5/2.0 (+1)	1,620 (-8%)	3mo	$127,127	$78	48
2375 S 15th Pl	0.74mi	5/2.0 (+1)	1,619 (-8%)	2mo	$185,000	$114	45

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

Projected returns pro-forma

10.0% appreciation · 2.0% rent growth · sell at horizon

5-year hold

• IRR: 27.2%
• Equity multiple: 3.15×
• Total profit: $138,475
• Equity at exit: $207,112

10-year hold

• IRR: 23.5%
• Equity multiple: 7.08×
• Total profit: $391,131
• Equity at exit: $446,645

Cash invested: $64,372 (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 53204

• Home prices YoY: 19.0%
• Rents YoY: 2.0%
• Active inventory: 55
• Price-to-rent: 16.5×

Monthly cashflow live

• Estimated rent: $2,320 high
• Mortgage (P&I): −$1,206
• Tax est. 1.5%: −$287 /mo · $3,448/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$487
• Net cashflow: $244

Break-even live

Break-even rent $2,011

Max offer price $229,900

Occupancy floor 84%

Sensitivity live

Price	-10% $403	-5% $323	+0% $244	+5% $165	+10% $85
Rent	-10% $61	-5% $152	+0% $244	+5% $336	+10% $427
Rate	-1.0pp $360	-0.5pp $302	base $244	+0.5pp $184	+1.0pp $124

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,320
Total (2 units)			$2,320

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1812 S 7th St Milwaukee, WI	3.0	1.5	1703	$2,100	$1.23	24d	1	0.78mi
2141 S Robinson Ave Milwaukee, WI	3.0	1.0–2.0	1006	$2,695	$2.68	2d	20	1.46mi

Listing history 2 events

1. 2026-05-04
   status Pending 543-char remark
2. 2026-04-29
   listed $229,900 Active 543-char remark

ⓘ 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) · 73% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,840
• − Mortgage interest: −$12,878
• − Property taxes: −$3,448
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,227
• − Management: −$2,227
• − Depreciation: −$6,688
• Taxable loss: −$778
• Est. tax savings @ 24.0%: +$187
• After-tax cash flow: $3,115/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

Good 80/100 Cosmetic rehab

A well-maintained 2-unit duplex with recent updates, including new siding, roof, and windows, located in a vibrant neighborhood. Potential for further value through exterior and interior updates.

Value-add opportunities

• Both Painting exterior and interior — Fresh paint enhances curb appeal and interior aesthetics.
• Both Landscaping and curb appeal improvements — Enhances curb appeal and can attract more tenants or buyers.
• Both Interior updates (paint, minor repairs) — Fresh paint and minor repairs can improve the home's appearance and attract more tenants or buyers.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Landscaping and curb appeal improvements — Enhances curb appeal and can attract more tenants or buyers. ↑
• Both Interior updates (paint, minor repairs) — Fresh paint and minor repairs can improve the home's appearance and attract more tenants or buyers. ↑

ⓘ 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): 39,996
• Household income: $45,934
• Rent vs Own: 73.8% rent · 26.2% own
• Severe rent burden: 2357.0

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 Hispanic (68%)
• Race & ethnicity: Hispanic / Latino 68% Two or more races 35% White 15% Black 11% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 51% Puerto Rican 13%
• Common ancestry: Romanian 3% Portuguese 1% Lithuanian 1%
• Foreign-born: 28% · Canada
• Languages at home: 35% English-only · Spanish 61% Other Asian/Pacific 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: ▲ 64.27%
• Current HPI: 403.236
• Rent YoY: ▲ 2.00%
• 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

2 events — show timeline

• 2026-05-04 Pending — METROMLS
• 2026-04-29 Listed $229,900 METROMLS