3764 N 88th St #3766 · Milwaukee, WI 53222

$254,900

4 bd · 2.0 ba · 1,723 sqft · MultiFamily · 1 Days on market

Built 1953 5,227 sqft lot Est $231k · 10% 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 +3.2/5.0
• ARV discount +2.8/15.0
• Condition / age +2.5/5.0
• 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 MLS

Great Conditioon inside and out, great neighborhood, quiet street and kitchens recently updated.

Key facts

• Cash flow potential
• Both units occupied
• Rent ready

Tags

• NASH PARK NEIGHBORHOOD
• CASH FLOW POTENTIAL
• BOTH UNITS OCCUPIED
• RENT READY
• STRONG RENTAL MARKET
• INCOME IN PLACE

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $255k.

Deal economics

• At list price, monthly cash flow is $413 ($5k/yr) — positive. Per door: $206/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $255k).
• 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 (+2.9%/yr); 65 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• This rent runs 43% of the median local income ($77k/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 $2k of loan paydown is wiped out by about $8k 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 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $254,900

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 1953 — 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: 1.08% ✓
• Cap rate: 8.23%
• Cash-on-cash: 6.94%
• DSCR: 1.31
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $230,882
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8630 W Keefe Ave	0.21mi	4/2.0	1,791 (+4%)	7mo	$220,000	$123	77
3461 N 90th St	0.30mi	4/2.0	1,675 (-3%)	13mo	$255,000	$152	71
3524 N 85th St #3526	0.26mi	4/2.0	1,876 (+9%)	11mo	$265,000	$141	64
3223 N 84th St #3225	0.60mi	4/2.0	1,615 (-6%)	0mo	$275,000	$170	61
3607 N 85th St	0.22mi	4/2.0	1,890 (+10%)	21mo	$241,000	$128	56
3604 N 97th St	0.56mi	4/2.0	1,792 (+4%)	14mo	$260,000	$145	55
3317 N 84th St #3319	0.49mi	4/2.0	1,800 (+4%)	21mo	$155,000	$86	52
4168 N 92nd St Unit 4168A	0.56mi	5/2.0 (+1)	1,819 (+6%)	20mo	$199,800	$110	42
4328 N 90th St #4330	0.71mi	4/2.0	1,900 (+10%)	14mo	$255,000	$134	38
3137 N 90th St Unit 3137A	0.69mi	4/2.0	1,938 (+12%)	14mo	$260,000	$134	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 · 2.85% rent growth · sell at horizon

5-year hold

• IRR: -5.8%
• Equity multiple: 0.78×
• Total profit: $-15,404
• Equity at exit: $38,006

10-year hold

• IRR: 3.7%
• Equity multiple: 1.26×
• Total profit: $18,890
• Equity at exit: $22,039

Cash invested: $71,372 (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 53222

• Rents YoY: 2.9%
• Active inventory: 65
• Price-to-rent: 15.4×

Monthly cashflow live

• Estimated rent: $2,752 high
• Mortgage (P&I): −$1,337
• Tax est. 1.5%: −$319 /mo · $3,824/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$578
• Net cashflow: $413

Break-even live

Break-even rent $2,230

Max offer price $254,900

Occupancy floor 80%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,752
Total (2 units)			$2,752

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: $63,725
• Closing costs: $7,647
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9016 N 90th St Unit 8854 202 Milwaukee, WI	3.0	1.5	1100	$1,599	$1.45	16d	1	0.27mi
9016 N 90th St Unit 8856 202 Milwaukee, WI	3.0	1.5	1100	$1,799	$1.64	44d	1	0.27mi
9016 N 90th St Unit 9002 202 Milwaukee, WI	3.0	1.5	1100	$1,599	$1.45	14d	1	0.27mi
9016 N 90th St Unit 9012 202 Milwaukee, WI	3.0	1.5	1100	$1,699	$1.54	16d	1	0.27mi
4052 N 85th St Milwaukee, WI	3.0	1.0	1113	$1,500	$1.35	4d	1	0.39mi
4053 N 91st St Milwaukee, WI	3.0	1.0	1158	$1,248	$1.08	4d	1	0.42mi
4272 N 91st St #4274 Milwaukee, WI	3.0	1.5	1100	$1,495	$1.36	44d	1	0.65mi
4309 N 91st St Unit Upper Milwaukee, WI	3.0	1.0	1100	$1,395	$1.27	44d	1	0.69mi
3521 N 99th St Unit 2 Milwaukee, WI	3.0	1.0	1200	$1,850	$1.54	2d	1	0.78mi
4623 N 77th St Milwaukee, WI	3.0	1.5	1156	$1,800	$1.56	17d	1	1.28mi

Listing history 2 events

1. 2026-06-19
   remarks 699-char remark
2. 2026-06-19
   listed $254,900 Coming Soon 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 ≥101°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: $33,024
• − Mortgage interest: −$14,278
• − Property taxes: −$3,824
• − Insurance: −$1,274
• − Repairs & maintenance: −$2,642
• − Management: −$2,642
• − Depreciation: −$7,415
• Taxable income: $949
• Est. tax owed @ 24.0%: −$228
• After-tax cash flow: $4,723/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): 24,663
• Household income: $76,980
• Rent vs Own: 33.1% rent · 66.9% own
• Severe rent burden: 867.0

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 0.61)
• Race & ethnicity: White 53% Black 33% Two or more races 9% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Romanian 6% Portuguese 3% Lithuanian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 93% English-only · Spanish 3% German/W. Germanic 1% French/Haitian/Cajun 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: ▼ -160.15%
• Current HPI: 264.2798
• Rent YoY: ▲ 2.85%
• 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

+45.7% since first listed

3 events — show timeline

• 2026-06-19 Coming Soon $254,900 METROMLS
• 2012-03-27 Listing Removed — METROMLS
• 2012-03-27 Listed $174,900 METROMLS