2511 N Buffum St #2513 · Milwaukee, WI 53212

$249,000

4 bd · 2.0 ba · 2,016 sqft · MultiFamily · 9 Days on market

Built 1910 Fair condition 3,920 sqft lot Est $175k · 42% over

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Why this score? — see what drove the D+ 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 +22.1/30.0
• DSCR +7.1/10.0
• 1% rule +5.8/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Condition / age +2.2/5.0
• 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: 2 units. confirmed

Listing remarks

This Harambee duplex brings in $1760 per month and has a 6 car garage generating $500 per month. Multi-family investment property next door is also available MLS# 1966364.

Key facts

• 3,920 sq ft lot
• 6 garage spots
• Built 1910

Property features AI

Finance

• Financial info: Property is a multi-family duplex with two units

Exterior

• Parking: One additional parking space; Detached garage with capacity for 4+ cars (6 total garage parking spaces reported)
• Utilities: Municipal water; Municipal sewer
• Home design: Duplex, 2-story building; Multi-family property
• Construction: Year built information from assessor/public record
• Exterior features: Vinyl siding; Lot size approximately 0.09 acre (less than 1/2 acre); Zoning: RT4

Interior

• Kitchen: Unit 2 kitchen located on upper level (dimensions 13 x 12)
• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 2 bedrooms (master on upper level, second bedroom on upper level)
• Bathrooms: Unit 1: 1 full bath; Unit 2: 1 full bath
• Interior features: Full poured concrete basement; Vinyl exterior (noted under exterior but relevant to interior maintenance)
• Laundry & utility: 2 electric meters; 2 gas meters

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $249k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $403 ($5k/yr) — positive. Per door: $201/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $249k).
• Cap rate 8.2% 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 (+5.0%/yr); 129 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $2,688/mo this rent would consume 68% of the median local household income ($47k/yr) (locally 2397% 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.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $249,000

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. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
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: 1.08% ✓
• Cap rate: 8.23%
• Cash-on-cash: 6.93%
• DSCR: 1.31
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $175,392
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
220 E Clarke St	0.15mi	3/2.0 (-1)	2,077 (+3%)	3mo	$180,000	$87	80
2611 N Holton St Unit 2611A	0.14mi	4/2.0	1,892 (-6%)	6mo	$165,000	$87	78
2438 N Pierce St	0.23mi	5/3.0 (+1)	2,032 (+1%)	0mo	$265,000	$130	78
2514 N Holton St #2516	0.09mi	4/2.0	2,246 (+11%)	1mo	$215,000	$96	76
137 W Hadley St #139	0.44mi	4/2.5	2,013 (-0%)	5mo	$138,000	$69	73
2940 N Holton St #2942	0.55mi	4/2.0	2,032 (+1%)	0mo	$195,000	$96	73
2768 N Palmer St #2770	0.35mi	4/2.0	2,211 (+10%)	3mo	$174,415	$79	65
2477 N 6th St	0.60mi	5/2.0 (+1)	2,046 (+2%)	1mo	$111,000	$54	64
2813 N Humboldt Blvd #2815	0.57mi	4/2.0	2,152 (+7%)	2mo	$276,000	$128	61
2724 N Palmer St Unit 2724A	0.30mi	4/2.0	1,746 (-13%)	4mo	$104,900	$60	60
2812 N Fratney St #2814	0.47mi	4/2.0	2,314 (+15%)	2mo	$300,000	$130	52
215 E Chambers St	0.60mi	4/2.0	1,733 (-14%)	4mo	$110,000	$63	45

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 · 5.0% rent growth · sell at horizon

5-year hold

• IRR: -3.4%
• Equity multiple: 0.87×
• Total profit: $-9,141
• Equity at exit: $37,127

10-year hold

• IRR: 8.4%
• Equity multiple: 1.70×
• Total profit: $48,818
• Equity at exit: $21,529

Cash invested: $69,720 (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 53212

• Rents YoY: 5.0%
• Active inventory: 129
• Price-to-rent: 15.4×

Monthly cashflow live

• Estimated rent: $2,688 high
• Mortgage (P&I): −$1,306
• Tax est. 1.5%: −$311 /mo · $3,735/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$564
• Net cashflow: $403

Break-even live

Break-even rent $2,178

Max offer price $249,000

Occupancy floor 80%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,688
Total (2 units)			$2,688

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
400 E Meinecke Ave #402 Milwaukee, WI	3.0	1.0	1700	$1,800	$1.06	16d	1	0.13mi
2634 N Doctor M.L.K. Jr Dr Milwaukee, WI	5.0	2.5	2512	$3,700	$1.47	44d	1	0.38mi
2772 N Bremen St #2774 Milwaukee, WI	3.0	1.0	1500	$1,795	$1.20	44d	1	0.50mi
2012 N Buffum St Milwaukee, WI	3.0	2.5	2200	$2,695	$1.23	44d	1	0.50mi
3042 N Palmer St #5 Milwaukee, WI	3.0	1.0	1718	$1,050	$0.61	24d	1	0.69mi
1014 E Land Pl Milwaukee, WI	3.0	2.0	1900	$2,000	$1.05	4d	1	0.73mi
922 E Hamilton St Unit Lower Milwaukee, WI	3.0	1.0	1900	$1,550	$0.82	24d	1	0.74mi
1025 E Land Pl Milwaukee, WI	3.0	1.0	1560	$1,750	$1.12	24d	1	0.75mi
1116 E Hamilton St Milwaukee, WI	3.0	2.0	1400	$1,750	$1.25	17d	1	0.81mi
1703 N Astor St Milwaukee, WI	4.0	2.0	1800	$2,200	$1.22	44d	1	0.83mi
1551 N Water St Milwaukee, WI	3.0	1.0–2.0	1074	$3,395	$3.16	2d	52	0.93mi
312 E Townsend St Unit 312 Milwaukee, WI	3.0	1.0	1400	$1,250	$0.89	24d	1	1.14mi
2579 N Frederick Ave Milwaukee, WI	4.0	2.0	2400	$2,095	$0.87	4d	1	1.14mi
1814 E Linnwood Ave Milwaukee, WI	4.0	2.0	1800	$3,100	$1.72	44d	1	1.17mi
3131 N Bartlett Ave Unit 1 Milwaukee, WI	4.0	1.0	1600	$1,750	$1.09	44d	1	1.19mi
2706 N Frederick Ave Milwaukee, WI	3.0	2.0	1500	$2,000	$1.33	17d	1	1.19mi
2609 N Maryland Ave Milwaukee, WI	4.0	2.5	1700	$2,050	$1.21	4d	1	1.20mi
1902 E Linnwood Ave Unit 1902 04 Milwaukee, WI	4.0	1.5	1599	$2,400	$1.50	17d	1	1.22mi
1902 E Linnwood Ave Unit 1902 05 Milwaukee, WI	4.0	1.5	1599	$2,400	$1.50	4d	1	1.22mi
2959 N Murray Ave Milwaukee, WI	3.0	1.0	1500	$1,800	$1.20	16d	1	1.22mi
3420 N Vel R. Phillips Ave Unit 3422 Milwaukee, WI	3.0	1.0	2756	$1,195	$0.43	44d	1	1.23mi
3420-22 N Vel R Phillips Ave Milwaukee, WI	3.0	1.0	2756	$1,195	$0.43	44d	1	1.23mi
2937 N Frederick Ave Milwaukee, WI	4.0	1.0	1700	$1,925	$1.13	4d	1	1.26mi
2830 N Maryland Ave Unit 2828 Milwaukee, WI	3.0	1.0	1675	$1,995	$1.19	17d	1	1.31mi
2245 N Lake Dr Unit 2247 Milwaukee, WI	3.0	1.0	2197	$2,495	$1.14	44d	1	1.31mi
2974 N Frederick Ave Milwaukee, WI	4.0	2.0	1626	$2,600	$1.60	44d	1	1.32mi
2511 N Prospect Ave Unit 2511 19 Milwaukee, WI	3.0	1.0	1658	$1,980	$1.19	17d	1	1.33mi
1141 N Doctor Martin Luther King Junior Dr Milwaukee, WI	1.0–3.0	1.0–2.5	1861	$6,250	$3.36	2d	6	1.33mi
1040 N Cass St Milwaukee, WI	1.0–3.0	1.0–2.0	2025	$7,750	$3.83	2d	9	1.34mi
2534 N Prospect Ave Milwaukee, WI	3.0	1.0	1500	$2,095	$1.40	44d	1	1.35mi
901 W Winnebago St Milwaukee, WI	1.0–3.0	1.0–2.0	1359	$2,629	$1.93	2d	10	1.42mi
700 E Kilbourn Ave Milwaukee, WI	1.0–3.0	1.0–2.0	1041	$5,500	$5.28	3d	13	1.45mi
3015 N Prospect Ave Unit 3015 Prospect Milwaukee, WI	3.0	1.0	1570	$1,950	$1.24	17d	1	1.47mi
2745 N Downer Ave #2747 Milwaukee, WI	3.0	2.0	1800	$2,400	$1.33	11d	1	1.48mi

Listing history 8 events

1. 2026-06-18
   days on market $249,000 Active 9 DOM
2. 2026-06-17
   days on market $249,000 Active 8 DOM
3. 2026-06-16
   days on market $249,000 Active 7 DOM
4. 2026-06-15
   days on market $249,000 Active 6 DOM
5. 2026-06-13
   days on market $249,000 Active 4 DOM
6. 2026-06-13
   days on market $249,000 Active 3 DOM
7. 2026-06-10
   remarks 171-char remark
8. 2026-06-10
   listed $249,000 Active 1 DOM

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

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 ≥97°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: $32,256
• − Mortgage interest: −$13,948
• − Property taxes: −$3,735
• − Insurance: −$1,245
• − Repairs & maintenance: −$2,580
• − Management: −$2,580
• − Depreciation: −$7,244
• Taxable income: $924
• Est. tax owed @ 24.0%: −$222
• After-tax cash flow: $4,611/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 · 13 photos

Fair 45/100 Moderate rehab

This multi-family property requires significant repairs and updates to its exterior, interior, and systems, but presents a good opportunity for investment with high potential for value increase.

Repairs flagged

• Major brick facade — Significant damage and exposed insulation
• Major siding — Missing siding
• Major flooring — Worn carpet
• Major interior walls — Painted walls with visible wear
• Major bathrooms — Small, outdated bathrooms with basic fixtures
• Major systems — Old water heater and electrical panel

Value-add opportunities

• Both Paint the exterior — Enhances curb appeal and value
• Both Replace the roof — Extends the life of the home and improves value
• Both Upgrade the bathrooms — Improves functionality and value
• Both Replace the water heater and electrical panel — Ensures safety and functionality

Renovation cost estimate screening

Repair item	Severity	Est. cost
brick facade · Significant damage and exposed insulation	Major	$15,000–50,000
siding · Missing siding	Major	$15,000–50,000
flooring · Worn carpet	Major	$15,000–50,000
interior walls · Painted walls with visible wear	Major	$15,000–50,000
bathrooms · Small, outdated bathrooms with basic fixtures	Major	$15,000–50,000
systems · Old water heater and electrical panel	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both Paint the exterior — Enhances curb appeal and value ↑
• Both Replace the roof — Extends the life of the home and improves value ↑
• Both Upgrade the bathrooms — Improves functionality and value ↑
• Both Replace the water heater and electrical panel — Ensures safety and functionality ↑

ⓘ 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): 28,938
• Household income: $47,298
• Rent vs Own: 65.6% rent · 34.4% own
• Severe rent burden: 2397.0

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: Black 48% White 35% Hispanic / Latino 12% Two or more races 9%
• Hispanic origin (detail): Mexican 4% Puerto Rican 6%
• Common ancestry: Romanian 4% Portuguese 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 92% English-only · Spanish 6%

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: ▼ -216.73%
• Current HPI: 385.8225
• Rent YoY: ▲ 5.00%
• 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

1 event — show timeline

• 2026-06-08 Listed $249,000 METROMLS