1601 S 65th St · West Allis, WI 53214

$174,900

3 bd · 1.0 ba · 990 sqft · SingleFamily · 5 Days on market

Built 1923 6,098 sqft lot Est $210k · 17% under

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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 +15.3/30.0
• ARV discount +15.0/15.0
• DSCR +4.7/10.0
• 1% rule +4.6/10.0
• Rent growth +4.6/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Key facts

• 6,098 sq ft lot
• 2 garage spots
• Built 1923

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $64 ($764/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $168k (3.7% below list).
• Recommended offer: $168k (3.7% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 4.3% in West Allis — 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 79/100 on livability (#69 in WI, #1,958 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities F.
• West Allis-West Milwaukee School District (urban): math 17% / reading 26% proficiency, ranked #328 of 342 in WI (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Horace Mann Elementary (math 12% / reading 12%, grade F, #928 of 1,041 statewide, top 90%, 398 students, 82% FRL); West Milwaukee Intermediate (math 11% / reading 21%, grade F, #365 of 383 statewide, top 95%, 304 students, 79% FRL); Central High (math 8% / reading 14%, grade F, #438 of 483 statewide, top 91%, 1,007 students, 68% FRL) — zoned schools average 76% FRL vs 48% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+8.3%/yr); 52 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• This rent runs 33% of the median local income ($61k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $168,437 (3.7% below list)

Questions for the listing agent

1. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.96% ✗
• Cap rate: 6.73%
• Cash-on-cash: 1.56%
• DSCR: 1.07
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $209,880
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1601 S 65th St	0.00mi	3/1.0	990 (0%)	0mo	$201,000	$203	100
6220 W Burnham St	0.28mi	3/1.0	990 (0%)	2mo	$189,900	$192	85
1929 S 72nd St	0.57mi	3/2.0	1,000 (+1%)	1mo	$210,000	$210	67
6508 W Mitchell St	0.09mi	3/1.0	1,129 (+14%)	6mo	$225,000	$199	67
2057 S 70th St	0.60mi	2/1.0 (-1)	990 (0%)	2mo	$170,000	$172	66
1108 S 65th St	0.41mi	2/1.0 (-1)	897 (-9%)	0mo	$230,000	$256	60
2243 S 63rd St	0.70mi	3/2.0	1,005 (+2%)	1mo	$307,000	$305	60
2180 S 60th St	0.68mi	2/1.0 (-1)	1,000 (+1%)	6mo	$225,000	$225	57
2065 S 71st St	0.64mi	3/1.0	1,052 (+6%)	4mo	$230,000	$219	56
1220 S 65th St	0.34mi	2/1.0 (-1)	858 (-13%)	3mo	$185,000	$216	54
2140 S 70th St	0.67mi	3/1.0	1,080 (+9%)	5mo	$195,000	$181	49
2219 S 59th St	0.75mi	3/2.0	1,134 (+14%)	4mo	$240,000	$212	33

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -8.1%
• Equity multiple: 0.69×
• Total profit: $-15,322
• Equity at exit: $26,078

10-year hold

• IRR: 7.2%
• Equity multiple: 1.67×
• Total profit: $32,645
• Equity at exit: $15,122

Cash invested: $48,972 (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 53214

• Home prices YoY: -28.9%
• Rents YoY: 8.3%
• Active inventory: 52
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,684 high
• Mortgage (P&I): −$917
• Tax from tax record: −$277 /mo · $3,323/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $64

Break-even live

Break-even rent $1,604

Max offer price $174,900

Occupancy floor 91%

Sensitivity live

Price	-10% $163	-5% $113	+0% $64	+5% $14	+10% $-35
Rent	-10% $-69	-5% $-3	+0% $64	+5% $130	+10% $197
Rate	-1.0pp $152	-0.5pp $108	base $64	+0.5pp $18	+1.0pp $-28

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6516 W National Ave Unit 1460-110 West Allis, WI	2.0	1.0	1080	$1,815	$1.68	18d	1	0.10mi
6400 W Greenfield Ave West Allis, WI	2.0	1.0	950	$2,148	$2.26	0d	3	0.21mi
6901 W Mitchell St Unit 6903 West Allis, WI	2.0	1.0	800	$1,150	$1.44	25d	1	0.34mi
6901 W Mitchell St Unit 6903 West Allis, WI	2.0	1.0	800	$945	$1.18	5d	1	0.34mi
1732 S 71st St Unit 1732 West Allis, WI	3.0	1.0	912	$1,795	$1.97	14d	1	0.45mi
1414 S 55th St Unit 4 West Milwaukee, WI	2.0	1.0	800	$995	$1.24	14d	1	0.62mi
1673 S 54th St Milwaukee, WI	2.0	1.0	750	$1,250	$1.67	25d	1	0.64mi
1553 S 75th St Unit 1553 West Allis, WI	2.0	1.0	1008	$1,595	$1.58	5d	1	0.68mi
5832 W Walker St Milwaukee, WI	3.0	1.0	981	$1,300	$1.33	25d	1	0.69mi
7500 W Greenfield Ave Unit 7504 Upper West Allis, WI	2.0	1.0	844	$1,250	$1.48	25d	1	0.70mi
642 S 66th St Milwaukee, WI	3.0	1.0	1059	$1,770	$1.67	19d	1	0.77mi
638 S 66th St Milwaukee, WI	3.0	1.0	1104	$1,795	$1.63	16d	1	0.78mi
1467 S 78th St Milwaukee, WI	2.0	1.0	1000	$1,500	$1.50	14d	1	0.86mi
2329 S 51st St Unit 2359 202 Milwaukee, WI	2.0	2.0	1100	$1,350	$1.23	46d	1	1.13mi
2329 S 51st St Unit 2349 204 Milwaukee, WI	2.0	2.0	1060	$1,395	$1.32	6d	1	1.13mi
2028 S 81st St West Allis, WI	2.0	1.0	930	$1,600	$1.72	25d	1	1.14mi
2034 S 81st St West Allis, WI	2.0	1.0	900	$1,800	$2.00	5d	1	1.14mi
1482 S 84th St Milwaukee, WI	1.0–2.0	1.0–2.0	1077	$2,500	$2.32	0d	33	1.20mi
1119 S Westchester St Milwaukee, WI	2.0	2.0	950	$1,500	$1.58	4d	3	1.23mi
1501 S 84th St Unit 8405 Upper West Allis, WI	2.0	1.0	950	$1,195	$1.26	5d	1	1.23mi
2238 S 82nd St Milwaukee, WI	2.0	1.0	1000	$1,360	$1.36	5d	1	1.34mi
1427 S 86th St West Allis, WI	3.0	1.0	998	$1,399	$1.40	14d	1	1.36mi
8530 W National Ave West Allis, WI	1.0–3.0	1.0–2.0	1037	$3,050	$2.94	0d	6	1.37mi
323A N 59th St Milwaukee, WI	2.0	1.0	900	$1,595	$1.77	23d	1	1.47mi

Listing history 4 events

1. 2026-06-02
   statusdays on market $174,900 Pending 5 DOM
2. 2026-06-01
   days on market $174,900 Active 4 DOM
3. 2026-05-31
   days on market $174,900 Active 3 DOM
4. 2026-05-16
   historical $174,900

ⓘ 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: $3,323 · $277/mo
• Projected year-2 tax: $3,323 · $277/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

ⓘ 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 ≥99°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,212
• − Mortgage interest: −$9,797
• − Property taxes: −$3,323
• − Insurance: −$874
• − Repairs & maintenance: −$1,617
• − Management: −$1,617
• − Depreciation: −$5,088
• Taxable loss: −$2,104
• Est. tax savings @ 24.0%: +$505
• After-tax cash flow: $1,269/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: West Allis-West Milwaukee School District
• NCES district ID: 5516260
• Math proficiency: 17% ▼ -16.00%
• Reading proficiency: 26% ▼ -12.00%
• Median HH income: $45,620
• Composite: 18.71/100
• National rank: #8881
• State rank: #328 of 342 in WI

Livability — West Allis

• Score: 79/100
• State rank: #69
• US rank: #1958

Category grades

Amenities F Commute A+ Cost of living A+ Crime C+ Employment C+ Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Allis, WI
• County: Milwaukee County · 926,379 people
• City population: 57,365
• Metro: Milwaukee-Waukesha, WI
• Population (ZIP): 34,480
• Household income: $60,962
• Rent vs Own: 45.1% rent · 54.9% own
• Severe rent burden: 1377.0

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 (66%)
• Race & ethnicity: White 66% Hispanic / Latino 18% Two or more races 12% Black 7% Asian 3%
• Hispanic origin (detail): Mexican 12% Puerto Rican 4%
• Common ancestry: Romanian 11% Lithuanian 3% Portuguese 2%
• Foreign-born: 7% · Canada, China, Philippines
• Languages at home: 86% English-only · Spanish 10% Other Asian/Pacific 1% 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: ▼ -112.31%
• Current HPI: 276.0476
• Rent YoY: ▲ 8.30%
• 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

• 2026-05-16 Coming Soon $174,900 METROMLS

Property tax history

+1.5%/yr

Latest (2024): $3,323 · +21.7% YoY. Source: county tax records.