2621 N Maryland Ave · Milwaukee, WI 53211

$600,000

7 bd · 3.5 ba · 3,510 sqft · MultiFamily public records · 3 Days on market

Built 1895 5,662 sqft lot Est $491k · 22% over

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Why this score? — see what drove the F 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 +14.3/30.0
• DSCR +4.4/10.0
• Livability +4.0/5.0
• 1% rule +3.6/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Completely turn key, LEGAL 3 family on Milwaukee's East Side. The unit mix includes: First Floor: 3BR / 1.5BA---Second Floor: 4BR / 1BA---Third Floor: 2BR / 1BA. All apartments have been recently updated and refreshed, and all windows were replaced within the last two years. This property is easy to manage for a first or second-time investor, or it could serve as an ideal opportunity for student housing. Additionally, the property includes a two-car detached garage and two slab parking spots for extra income, with space in the backyard to add further parking.

Key facts

• Replaced windows
• Recently updated
• Slab parking spots

Tags

• RECENTLY UPDATED
• REPLACED WINDOWS
• DETACHED GARAGE
• SLAB PARKING SPOTS
• BACKYARD PARKING

Property features AI

Finance

• Other: Lot size approximately 0.13 acres; Zoning: RT3

Exterior

• Parking: Outdoor space parking; Indoor parking available; Outside parking
• Utilities: Municipal water; Municipal sewer
• Home design: Multi-family property; Apartment building / duplex+; 3–4 stories
• Construction: Aluminum construction
• Exterior features: Aluminum/steel exterior

Interior

• Kitchen: Includes 3 stoves; Includes 3 refrigerators; Includes 1 dishwasher
• Heating & cooling: Forced air heating; Natural gas fuel
• Interior features: Brick full basement; Building contains 3 units
• Laundry & utility: One seller-owned washer; One seller-owned dryer

What this means for you Summary

Snapshot

• This is a 2×3.0bd/1.5ba + 1×2.0bd/1.0ba units multifamily listed at $600k.

Deal economics

• At list price, monthly cash flow is $111 ($1k/yr) — positive. Per door: $37/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $514k (14.3% below list).
• Recommended offer: $514k (14.3% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 5.1% in Milwaukee — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 (+2.5%/yr); 67 active listings in the ZIP; solid renter incomes; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $5,141/mo this rent would consume 82% of the median local household income ($75k/yr) (locally 2472% 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 $4k of loan paydown is wiped out by about $18k 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.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $360k; list at $600k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $514,100 (14.3% below list)

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 1895 — 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. 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?
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: 0.86% ✗
• Cap rate: 6.51%
• Cash-on-cash: 0.79%
• DSCR: 1.04
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $491,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2744 N Stowell Ave #2746	0.25mi	7/3.0	3,542 (+1%)	2mo	$515,000	$145	83
2638 N Farwell Ave #2640	0.10mi	7/2.0	3,672 (+5%)	18mo	$427,000	$116	67
2928 N Farwell Ave #2930	0.36mi	6/3.0 (-1)	3,645 (+4%)	6mo	$480,000	$132	65
2734 N Murray Ave	0.14mi	8/2.0 (+1)	3,092 (-12%)	3mo	$425,000	$137	60
2000 E Newberry Blvd #2002	0.23mi	6/2.0 (-1)	3,798 (+8%)	11mo	$516,000	$136	55
2825 N Murray Ave #2827	0.27mi	6/2.0 (-1)	3,775 (+8%)	14mo	$501,000	$133	52
2036 E Kenilworth Pl Unit 2205 N Summit Ave	0.57mi	6/3.0 (-1)	3,752 (+7%)	6mo	$525,000	$140	50
1812 E Newberry Blvd #1814	0.29mi	6/2.0 (-1)	3,045 (-13%)	4mo	$480,000	$158	50
2856 N Frederick Ave #2858	0.29mi	8/2.0 (+1)	3,092 (-12%)	11mo	$500,000	$162	46
2863 N Prospect Ave #2865	0.32mi	8/3.0 (+1)	3,802 (+8%)	23mo	$490,000	$129	45
3132 N Bartlett Ave #3134	0.67mi	7/2.5	3,195 (-9%)	16mo	$450,000	$141	37
3006 N Murray Ave #3008	0.45mi	6/2.0 (-1)	3,030 (-14%)	23mo	$472,800	$156	26

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 · 2.55% rent growth · sell at horizon

5-year hold

• IRR: -15.5%
• Equity multiple: 0.45×
• Total profit: $-92,536
• Equity at exit: $89,462

10-year hold

• IRR: -7.8%
• Equity multiple: 0.52×
• Total profit: $-81,097
• Equity at exit: $51,877

Cash invested: $168,000 (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 53211

• Rents YoY: 2.5%
• Active inventory: 67
• Price-to-rent: 28.4×

Monthly cashflow live

• Estimated rent: $5,141 high
• Mortgage (P&I): −$3,146
• Tax from tax record: −$554 /mo · $6,651/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,080
• Net cashflow: $111

Break-even live

Break-even rent $5,001

Max offer price $600,000

Occupancy floor 93%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3.0	1.5	$3,526
1× unit	2.0	1	$1,614
Total (3 units)			$5,141

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: $150,000
• Closing costs: $18,000
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-18
   days on market $600,000 Active 3 DOM
2. 2026-06-17
   days on market $600,000 Active 2 DOM
3. 2026-06-15
   remarks 565-char remark
4. 2026-06-15
   listed $600,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast WI · Partial reset (capped growth)

• Current annual tax: $6,651 · $554/mo
• Projected year-2 tax: $8,875 · $740/mo
• Expected delta: +$2,225/yr (+$185/mo · 33.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 ≥96°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $61,692
• − Mortgage interest: −$33,609
• − Property taxes: −$6,651
• − Insurance: −$3,000
• − Repairs & maintenance: −$4,935
• − Management: −$4,935
• − Depreciation: −$17,455
• Taxable loss: −$8,893
• Est. tax savings @ 24.0%: +$2,134
• After-tax cash flow: $3,463/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): 34,234
• Household income: $75,256
• Rent vs Own: 59.9% rent · 40.1% own
• Severe rent burden: 2472.0

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 White (81%)
• Race & ethnicity: White 81% Two or more races 7% Asian 5% Hispanic / Latino 5% Black 4%
• Common ancestry: Romanian 9% Portuguese 4% Lithuanian 3%
• Foreign-born: 8% · Canada, China, South Korea
• Languages at home: 88% English-only · Spanish 3% Other Indo-European 3% Russian/Polish/Slavic 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: ▼ -333.49%
• Current HPI: 234.8421
• Rent YoY: ▲ 2.55%
• 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

+378.1% since first listed

3 events — show timeline

• 2026-06-15 Listed $600,000 METROMLS
• 2024-06-27 Sold (Public Records) $360,000 Public Records
• 1995-06-01 Sold (Public Records) $125,500 Public Records

Property tax history

-2.9%/yr

Latest (2024): $6,651 · +7.8% YoY. Source: county tax records.