3135 N 44th St #3137 · Milwaukee, WI 53216

$159,000

4 bd · 2.0 ba · 2,268 sqft · MultiFamily · 119 Days on market

Built 1927 4,791 sqft lot $70/sqft · 9% above area Est $146k · 9% over

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Why this score? — see what drove the B 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
• Appreciation +5.7/10.0
• Rent growth +4.3/5.0
• Livability +4.0/5.0
• ARV discount +3.6/15.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Multi-family units

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

Listing remarks MLS

Well maintained, cash flowing duplex located in the Sherman Park neighborhood. Newly rebuilt porches front and back with a large parking pad for extra income. Beautiful hardwood floors throughout with original built-ins and ample natural light create a charming, comfortable living space. Both tenants are long term and on month to month leases at $850/month. Upper tenant takes care of lawn/snow. Don't miss out on this opportunity, great for investors and owner occupants alike!

Key facts

• Cash flowing duplex
• Original built-ins
• Large parking pad

Tags

• CASH FLOWING DUPLEX
• SHERMAN PARK NEIGHBORHOOD
• NEWLY REBUILT PORCHES
• LARGE PARKING PAD
• HARDWOOD FLOORS
• ORIGINAL BUILT-INS

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $159k.

Deal economics

• At list price, monthly cash flow is $655 ($8k/yr) — positive. Per door: $327/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $159k).
• Recommended offer: $145k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.2% 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; 4 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 $2,220/mo this rent would consume 57% 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 $3k 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 $45k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 14y ago; this cycle's ask has dropped $40k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $110k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $144,690 (9.0% below list)

Questions for the listing agent

1. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 9% 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 1927 — 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: 11.24%
• Cash-on-cash: 17.65%
• DSCR: 1.79
• GRM: 6.0

CMA / ARV

• ARV (median comp): $146,403
• List price: $159,000
• Delta: 8.60%
• Verdict: FAIR
• 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	0.14mi	4/2.0	1,998 (-12%)	1mo	$120,775	$60	72
3044 N 54th St #3046	0.59mi	4/2.0	2,279 (+0%)	0mo	$200,000	$88	71
3037 N 53rd St	0.57mi	4/2.0	2,257 (-0%)	2mo	$161,000	$71	71
2866 N 52nd St #2868	0.57mi	4/2.0	2,215 (-2%)	1mo	$257,000	$116	69
3128 N 52nd St #3130	0.47mi	4/2.0	2,400 (+6%)	0mo	$283,000	$118	68
2808 N 52nd St #2810	0.63mi	4/2.0	2,292 (+1%)	1mo	$153,000	$67	68
3166 N 39th St #3168	0.37mi	4/2.0	2,064 (-9%)	2mo	$145,000	$70	66
3023 N 52nd St #3025	0.52mi	4/2.0	2,408 (+6%)	2mo	$139,900	$58	64
2642 N 51st St #2644	0.74mi	4/2.0	2,294 (+1%)	1mo	$122,500	$53	63
2834 N 54th St Unit 2834A	0.70mi	4/2.0	2,080 (-8%)	0mo	$175,000	$84	53
3280 N 54th St #3282	0.61mi	4/2.0	2,494 (+10%)	2mo	$340,000	$136	53
3068 N 34th St Unit 3068A	0.67mi	5/2.0 (+1)	2,087 (-8%)	0mo	$110,000	$53	50

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: 23.6%
• Equity multiple: 2.27×
• Total profit: $56,611
• Equity at exit: $57,014

10-year hold

• IRR: 28.5%
• Equity multiple: 4.99×
• Total profit: $177,750
• Equity at exit: $77,927

Cash invested: $44,520 (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: 11.9×

Monthly cashflow live

• Estimated rent: $2,220 high
• Mortgage (P&I): −$834
• Tax est. 1.5%: −$199 /mo · $2,385/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$466
• Net cashflow: $655

Break-even live

Break-even rent $1,391

Max offer price $159,000

Occupancy floor 66%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,220
Total (2 units)			$2,220

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2976 N 49th St Milwaukee, WI	3.0	1.0	1700	$1,300	$0.76	17d	1	0.34mi
2704 W Concordia Ave Unit Na Milwaukee, WI	5.0	2.0	1856	$2,500	$1.35	23d	1	1.11mi
2137 N 47th St Milwaukee, WI	5.0	2.0	1723	$1,850	$1.07	14d	1	1.26mi
2432 N 28th St Milwaukee, WI	5.0	1.5	1876	$1,600	$0.85	43d	1	1.36mi

Listing history 25 events

1. 2026-06-18
   days on market $159,000 Active 119 DOM
2. 2026-06-17
   days on market $159,000 Active 118 DOM
3. 2026-06-16
   days on market $159,000 Active 117 DOM
4. 2026-06-15
   days on market $159,000 Active 116 DOM
5. 2026-06-13
   days on market $159,000 Active 114 DOM
6. 2026-06-13
   days on market $159,000 Active 113 DOM
7. 2026-06-09
   days on market $159,000 Active 110 DOM
8. 2026-06-08
   days on market $159,000 Active 109 DOM
9. 2026-06-07
   days on market $159,000 Active 108 DOM
10. 2026-06-05
    days on market $159,000 Active 105 DOM
11. 2026-06-03
    days on market $159,000 Active 104 DOM
12. 2026-06-02
    days on market $159,000 Active 103 DOM
13. 2026-06-01
    days on market $159,000 Active 102 DOM
14. 2026-05-31
    days on market $159,000 Active 101 DOM
15. 2026-05-06
    price $159,000 480-char remark

    Show marketing remark (480 chars)

    Well maintained, cash flowing duplex located in the Sherman Park neighborhood. Newly rebuilt porches front and back with a large parking pad for extra income. Beautiful hardwood floors throughout with original built-ins and ample natural light create a charming, comfortable living space. Both tenants are long term and on month to month leases at $850/month. Upper tenant takes care of lawn/snow. Don't miss out on this opportunity, great for investors and owner occupants alike!

16. 2026-03-09
    price $175,000 480-char remark

    Show marketing remark (480 chars)

    Well maintained, cash flowing duplex located in the Sherman Park neighborhood. Newly rebuilt porches front and back with a large parking pad for extra income. Beautiful hardwood floors throughout with original built-ins and ample natural light create a charming, comfortable living space. Both tenants are long term and on month to month leases at $850/month. Upper tenant takes care of lawn/snow. Don't miss out on this opportunity, great for investors and owner occupants alike!

17. 2026-02-19
    listed $199,000 Active 480-char remark

    Show marketing remark (480 chars)

    Well maintained, cash flowing duplex located in the Sherman Park neighborhood. Newly rebuilt porches front and back with a large parking pad for extra income. Beautiful hardwood floors throughout with original built-ins and ample natural light create a charming, comfortable living space. Both tenants are long term and on month to month leases at $850/month. Upper tenant takes care of lawn/snow. Don't miss out on this opportunity, great for investors and owner occupants alike!

18. 2023-07-14
    soldstatus $110,000 Sold 338-char remark

    Show marketing remark (338 chars)

    Nestled in Sunset Heights this duplex is a GREAT investment opportunity for CASH FLOW!!! This property has 2 bedrooms per unit, 3-4 car parking slab and recent mechanical. The lower unit has beautiful hardwood flooring, ceramic tile kitchen and bathroom. Both of the units are spacious with nice size bedrooms and tenants are long-term.

19. 2023-06-21
    historical Contingent 338-char remark

    Show marketing remark (338 chars)

    Nestled in Sunset Heights this duplex is a GREAT investment opportunity for CASH FLOW!!! This property has 2 bedrooms per unit, 3-4 car parking slab and recent mechanical. The lower unit has beautiful hardwood flooring, ceramic tile kitchen and bathroom. Both of the units are spacious with nice size bedrooms and tenants are long-term.

20. 2023-05-17
    status Active 338-char remark

    Show marketing remark (338 chars)

    Nestled in Sunset Heights this duplex is a GREAT investment opportunity for CASH FLOW!!! This property has 2 bedrooms per unit, 3-4 car parking slab and recent mechanical. The lower unit has beautiful hardwood flooring, ceramic tile kitchen and bathroom. Both of the units are spacious with nice size bedrooms and tenants are long-term.

21. 2023-05-05
    historical Contingent 338-char remark

    Show marketing remark (338 chars)

    Nestled in Sunset Heights this duplex is a GREAT investment opportunity for CASH FLOW!!! This property has 2 bedrooms per unit, 3-4 car parking slab and recent mechanical. The lower unit has beautiful hardwood flooring, ceramic tile kitchen and bathroom. Both of the units are spacious with nice size bedrooms and tenants are long-term.

22. 2023-04-18
    price $121,500 338-char remark

    Show marketing remark (338 chars)

    Nestled in Sunset Heights this duplex is a GREAT investment opportunity for CASH FLOW!!! This property has 2 bedrooms per unit, 3-4 car parking slab and recent mechanical. The lower unit has beautiful hardwood flooring, ceramic tile kitchen and bathroom. Both of the units are spacious with nice size bedrooms and tenants are long-term.

23. 2023-03-23
    listed $127,500 Active 338-char remark

    Show marketing remark (338 chars)

    Nestled in Sunset Heights this duplex is a GREAT investment opportunity for CASH FLOW!!! This property has 2 bedrooms per unit, 3-4 car parking slab and recent mechanical. The lower unit has beautiful hardwood flooring, ceramic tile kitchen and bathroom. Both of the units are spacious with nice size bedrooms and tenants are long-term.

24. 2012-10-10
    listed $149,900
25. 2012-10-10
    historical

ⓘ 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: $26,640
• − Mortgage interest: −$8,906
• − Property taxes: −$2,385
• − Insurance: −$795
• − Repairs & maintenance: −$2,131
• − Management: −$2,131
• − Depreciation: −$4,625
• Taxable income: $5,666
• Est. tax owed @ 24.0%: −$1,360
• After-tax cash flow: $6,500/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): 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

+6.1% since first listed

11 events — show timeline

• 2026-05-06 Price Changed $159,000 METROMLS
• 2026-03-09 Price Changed $175,000 METROMLS
• 2026-02-19 Listed $199,000 METROMLS
• 2023-07-14 Sold (MLS) $110,000 METROMLS
• 2023-06-21 Contingent — METROMLS
• 2023-05-17 Relisted — METROMLS
• 2023-05-05 Contingent — METROMLS
• 2023-04-18 Price Changed $121,500 METROMLS
• 2023-03-23 Listed $127,500 METROMLS
• 2012-10-10 Listing Removed — METROMLS
• 2012-10-10 Listed $149,900 METROMLS