6540 W Mill Rd #6542 · Milwaukee, WI 53218

$249,800

6 bd · 3.0 ba · 2,318 sqft · MultiFamily · 7 Days on market

Built 1980 Fair condition 6,534 sqft lot Est $243k · at est.

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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 +25.2/30.0
• DSCR +8.3/10.0
• 1% rule +6.6/10.0
• ARV discount +6.3/15.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Condition / age +2.2/5.0
• 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

Add this Milwaukee townhouse-style duplex to your investment portfolio! Each spacious unit offers 3 bedrooms and 1.5 baths, with a functional layout featuring a large living room, generous kitchen, and main-level half bath. Upstairs, you'll find three sizable bedrooms and a full bath in each unit. Separate basements provide additional storage and utility space for tenants. A detached 3-car garage plus additional slab parking offer plenty of off-street parking. The exterior could use some TLC, presenting an opportunity to add value over time. Long-term tenants of 20+ years currently occupy both units and would love to stay, making this a great opportunity for investors seeking immediate rent

Key facts

• 6,534 sq ft lot
• 3 garage spots
• Built 1980

Property features AI

Finance

• Other: Owner excludes appliances and tenants' personal property
• Financial info: Two-unit income property

Exterior

• Parking: Attached 3-car garage; Additional 1 parking space
• Utilities: Municipal water; Municipal sewer; 2 electric meters; 2 gas meters
• Home design: Multi-family property (2-unit building); Estimated living area range: 1,001–1,250 sq ft per unit
• Construction: Aluminum and brick/stone exterior materials; Basement: full, block construction
• Exterior features: Aluminum/steel siding; Brick/stone accents; Property zoned residential; Lot smaller than 1/2 acre (approx. 0.15 acre)

Interior

• Kitchen: Unit 2: Kitchen on main level
• Bedrooms: Unit 1: 3 bedrooms; Unit 2: 3 bedrooms (master and additional bedrooms on upper level)
• Bathrooms: Unit 1: 1 full bath, 1 half bath; Unit 2: 1 full bath, 1 half bath
• Interior features: Full block basement
• Laundry & utility: Separate electric meters for each unit; Separate gas meters for each unit

What this means for you Summary

Snapshot

• This is a 2 × 3.0-bed/1.5-bath units multifamily listed at $250k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $557 ($7k/yr) — positive. Per door: $278/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Cap rate 9.0% 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 (+5.3%/yr); 153 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 $2,890/mo this rent would consume 76% of the median local household income ($46k/yr) (locally 2421% 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 + 5.3% rent growth), your $70k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $249,800

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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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: 1.16% ✓
• Cap rate: 8.97%
• Cash-on-cash: 9.55%
• DSCR: 1.43
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $243,390
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6602 W Mill Rd #6604	0.02mi	6/2.0	2,318 (0%)	2mo	$275,000	$119	93
6548 W Mill Rd	0.01mi	6/3.0	2,318 (0%)	10mo	$250,000	$108	91
6578 N 73rd St #6580	0.47mi	6/2.0	2,256 (-3%)	8mo	$245,000	$109	62
7030 W Acacia St #7032	0.45mi	6/3.0	2,323 (+0%)	21mo	$200,000	$86	61
6541 N 73rd St	0.50mi	6/3.0	2,469 (+6%)	8mo	$251,000	$102	60
6507 N 54th St #6509	0.68mi	5/3.0 (-1)	2,364 (+2%)	5mo	$215,000	$91	56
6928 W Mill Rd #6930	0.23mi	6/3.0	2,587 (+12%)	21mo	$250,000	$97	52
6491 N 53rd St #6493	0.74mi	6/3.0	2,499 (+8%)	10mo	$266,000	$106	44
6725 N 55th St #6727	0.73mi	6/3.0	2,537 (+9%)	11mo	$266,000	$105	41
6717 N 55th St #6719	0.73mi	6/3.0	2,537 (+9%)	12mo	$260,000	$102	40
6505 N 53rd St #6503	0.75mi	6/2.0	2,024 (-13%)	2mo	$215,000	$106	39
6052 N 61st St #6056	0.54mi	6/2.0	2,088 (-10%)	22mo	$175,000	$84	36

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 · 5.29% rent growth · sell at horizon

5-year hold

• IRR: 0.7%
• Equity multiple: 1.03×
• Total profit: $1,838
• Equity at exit: $37,246

10-year hold

• IRR: 12.5%
• Equity multiple: 2.10×
• Total profit: $76,732
• Equity at exit: $21,598

Cash invested: $69,944 (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 53218

• Home prices YoY: -19.0%
• Rents YoY: 5.3%
• Active inventory: 153
• Price-to-rent: 14.4×

Monthly cashflow live

• Estimated rent: $2,890 high
• Mortgage (P&I): −$1,310
• Tax est. 1.5%: −$312 /mo · $3,747/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$607
• Net cashflow: $557

Break-even live

Break-even rent $2,185

Max offer price $249,800

Occupancy floor 76%

Sensitivity live

Price	-10% $729	-5% $643	+0% $557	+5% $470	+10% $384
Rent	-10% $328	-5% $443	+0% $557	+5% $671	+10% $785
Rate	-1.0pp $683	-0.5pp $620	base $557	+0.5pp $492	+1.0pp $426

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

Units	Beds	Baths	Est. rent
▸ 2× units	3.0	1.5	$2,890
Total (2 units)			$2,890

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: $62,450
• Closing costs: $7,494
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5268 N 64th St Milwaukee, WI	5.0	1.0	1672	$1,850	$1.11	11d	1	1.41mi

Listing history 7 events

1. 2026-06-18
   days on market $249,800 Active 7 DOM
2. 2026-06-17
   pricedays on market $249,800 Active 6 DOM
3. 2026-06-16
   days on market $249,900 Active 5 DOM
4. 2026-06-15
   days on market $249,900 Active 4 DOM
5. 2026-06-13
   days on market $249,900 Active 2 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $249,900 Active 1 DOM

ⓘ 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: $34,680
• − Mortgage interest: −$13,993
• − Property taxes: −$3,747
• − Insurance: −$1,249
• − Repairs & maintenance: −$2,774
• − Management: −$2,774
• − Depreciation: −$7,267
• Taxable income: $2,876
• Est. tax owed @ 24.0%: −$690
• After-tax cash flow: $5,991/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

Fair 45/100 Moderate rehab

This townhouse-style duplex presents an opportunity for moderate renovations to improve its curb appeal and increase its value. The exterior siding and landscaping require significant attention, while interior updates to the kitchen and bathrooms would significantly enhance the living experience.

Repairs flagged

• Major Exterior siding — Weathered and needs repainting.
• Minor Interior walls — Some discoloration and touch-up needed.
• Minor Carpeted flooring — Worn and could be replaced or cleaned.
• Moderate Kitchen cabinets — Dated and could be updated with new cabinets.
• Moderate Bathroom fixtures — Dated and could be replaced with modern fixtures.
• Minor Windows — Discolored and could be cleaned or replaced.
• Major Landscaping — Overgrown and needs trimming and maintenance.

Value-add opportunities

• Both Paint exterior siding — Improves curb appeal and value
• Both Update kitchen cabinets — Modernizes the space and increases value
• Both Replace bathroom fixtures — Modernizes the space and increases value
• Both Replace carpeted flooring — Modernizes the space and increases value
• Both Trim and maintain landscaping — Improves curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Weathered and needs repainting.	Major	$15,000–50,000
Interior walls · Some discoloration and touch-up needed.	Minor	$500–3,000
Carpeted flooring · Worn and could be replaced or cleaned.	Minor	$500–3,000
Kitchen cabinets · Dated and could be updated with new cabinets.	Moderate	$3,000–15,000
Bathroom fixtures · Dated and could be replaced with modern fixtures.	Moderate	$3,000–15,000
Windows · Discolored and could be cleaned or replaced.	Minor	$500–3,000
Landscaping · Overgrown and needs trimming and maintenance.	Major	$15,000–50,000
Total estimated repair cost · 7 items		$37,500–139,000

Value-add ROI direction

• Both Paint exterior siding — Improves curb appeal and value ↑
• Both Update kitchen cabinets — Modernizes the space and increases value ↑
• Both Replace bathroom fixtures — Modernizes the space and increases value ↑
• Both Replace carpeted flooring — Modernizes the space and increases value ↑
• Both Trim and maintain landscaping — Improves curb appeal and 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): 41,196
• Household income: $45,642
• Rent vs Own: 57.1% rent · 42.9% own
• Severe rent burden: 2421.0

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 (72%)
• Race & ethnicity: Black 72% Asian 10% White 10% Hispanic / Latino 5% Two or more races 3%
• Common ancestry: Romanian 1% Lithuanian 1%
• Foreign-born: 6% · Philippines, Canada
• Languages at home: 89% English-only · Other Asian/Pacific 7% Spanish 3%

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: ▼ -76.44%
• Current HPI: 325.1975
• Rent YoY: ▲ 5.29%
• 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

1 event — show timeline

• 2026-06-11 Listed $249,900 METROMLS