8600 W Hampton Ave #8602 · Milwaukee, WI 53225

$189,900

4 bd · 2.0 ba · 1,872 sqft · MultiFamily · 25 Days on market

Built 1956 5,227 sqft lot Est $219k · 13% under

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Why this score? — see what drove the B 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 +29.3/30.0
• ARV discount +13.5/15.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• Rent growth +4.3/5.0
• Livability +4.0/5.0
• 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

Four bedroom Duplex with a 2.5 car detached garage located in the City of Milwaukee. All contracts/offers are subject to Indymac Banks senior management approval and any offers or counter offers by Indymac Bank are not binding unless the entire agreement is ratified by all parties. Property is being sold 'as is' and no condition report will be provided.

Key facts

• Interior upgrades
• Good rental location
• New siding

Tags

• NEW ROOF
• NEW WINDOWS
• NEW SIDING
• INTERIOR UPGRADES
• GOOD RENTAL LOCATION

Property features AI

Finance

• Financial info: Multi-family investment with 2 units (cash-flow details not provided)

Exterior

• Parking: Detached 2-car garage; Total of 2 garage parking spaces
• Utilities: Municipal water; Municipal sewer; 2 electric meters; 2 gas meters
• Home design: 2-story duplex (multi-family property); Estimated living area range: 751–1,000 sq. ft. per unit
• Construction: Mixed exterior: aluminum/steel, brick/stone, vinyl; Listed year-built source: Assessor/Public Record
• Exterior features: Aluminum/steel, brick/stone, and vinyl exterior materials; Lot size about 0.12 acres (less than 1/2 acre); Zoning: RT2

Interior

• Kitchen: Unit 2 kitchen on upper level (approx. 12 x 12)
• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 2 bedrooms (master and second bedroom on the upper level; master approx. 12 x 10, second bedroom approx. 10 x 10)
• Bathrooms: Unit 1: 1 full bathroom; Unit 2: 1 full bathroom
• Interior features: Full basement with block construction

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $190k.

Deal economics

• At list price, monthly cash flow is $670 ($8k/yr) — positive. Per door: $335/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• Recommended offer: $187k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.5% 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 (+7.1%/yr); 45 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $2,509/mo this rent would consume 53% of the median local household income ($57k/yr) (locally 1391% 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 $1k of loan paydown is wiped out by about $6k 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 + 7.1% rent growth), your $53k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 14y ago; this cycle's ask is 17179% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $45k; list at $190k implies a 322% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $187,051 (1.5% 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 1956 — 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. 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: 1.32% ✓
• Cap rate: 10.53%
• Cash-on-cash: 15.12%
• DSCR: 1.67
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $219,024
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7862 W Beckett Ave	0.58mi	4/2.0	1,881 (+0%)	6mo	$220,000	$117	67
4530 N 84th St	0.40mi	4/2.0	2,144 (+14%)	1mo	$225,000	$105	57
8027 W Appleton Ave	0.46mi	4/2.0	1,801 (-4%)	23mo	$152,000	$84	53
4328 N 90th St #4330	0.70mi	4/2.0	1,900 (+2%)	14mo	$255,000	$134	53
5164 N 84th St #5166	0.51mi	5/2.0 (+1)	2,040 (+9%)	9mo	$182,500	$89	49
5044 N 84th St #5046	0.37mi	5/2.0 (+1)	2,040 (+9%)	18mo	$260,000	$127	48
4650 N 84th St Unit 4650A	0.25mi	5/2.0 (+1)	2,107 (+13%)	18mo	$247,000	$117	47

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 · 7.14% rent growth · sell at horizon

5-year hold

• IRR: 10.4%
• Equity multiple: 1.43×
• Total profit: $22,809
• Equity at exit: $28,315

10-year hold

• IRR: 22.6%
• Equity multiple: 3.32×
• Total profit: $123,601
• Equity at exit: $16,419

Cash invested: $53,172 (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 53225

• Home prices YoY: -21.1%
• Rents YoY: 7.1%
• Active inventory: 45
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $2,509 high
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$237 /mo · $2,848/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$527
• Net cashflow: $670

Break-even live

Break-even rent $1,661

Max offer price $189,900

Occupancy floor 68%

Sensitivity live

Price	-10% $801	-5% $735	+0% $670	+5% $604	+10% $539
Rent	-10% $472	-5% $571	+0% $670	+5% $769	+10% $868
Rate	-1.0pp $765	-0.5pp $718	base $670	+0.5pp $621	+1.0pp $570

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,510
Total (2 units)			$2,509

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4824 N 104th St Unit 12 Milwaukee, WI	3.0	2.0	1300	$1,510	$1.16	17d	1	1.11mi
6813 W Hampton Ave Unit Rear (Unit B) Milwaukee, WI	3.0	2.0	1600	$1,350	$0.84	24d	1	1.15mi
5005 N 106th St Milwaukee, WI	3.0	2.0	2556	$1,795	$0.70	44d	1	1.29mi
6921 W Herbert Ave Milwaukee, WI	3.0	2.0	1414	$1,620	$1.15	4d	1	1.36mi

Listing history 10 events

1. 2026-05-03
   historical $1,099
2. 2026-04-30
   listed $1,099
3. 2026-04-24
   status Pending
4. 2026-04-02
   historical Contingent
5. 2026-03-30
   listed $189,900 Active
6. 2025-08-09
   historical $999
7. 2025-07-31
   listed $999
8. 2012-03-27
   listed $62,000 355-char remark

   Show marketing remark (355 chars)

   Four bedroom Duplex with a 2.5 car detached garage located in the City of Milwaukee. All contracts/offers are subject to Indymac Banks senior management approval and any offers or counter offers by Indymac Bank are not binding unless the entire agreement is ratified by all parties. Property is being sold 'as is' and no condition report will be provided.

9. 2012-03-27
   historical 355-char remark

   Show marketing remark (355 chars)

   Four bedroom Duplex with a 2.5 car detached garage located in the City of Milwaukee. All contracts/offers are subject to Indymac Banks senior management approval and any offers or counter offers by Indymac Bank are not binding unless the entire agreement is ratified by all parties. Property is being sold 'as is' and no condition report will be provided.

10. 2009-03-31
    soldstatus $45,000 355-char remark

    Show marketing remark (355 chars)

    Four bedroom Duplex with a 2.5 car detached garage located in the City of Milwaukee. All contracts/offers are subject to Indymac Banks senior management approval and any offers or counter offers by Indymac Bank are not binding unless the entire agreement is ratified by all parties. Property is being sold 'as is' and no condition report will be provided.

ⓘ 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: $30,108
• − Mortgage interest: −$10,637
• − Property taxes: −$2,848
• − Insurance: −$950
• − Repairs & maintenance: −$2,409
• − Management: −$2,409
• − Depreciation: −$5,524
• Taxable income: $5,331
• Est. tax owed @ 24.0%: −$1,279
• After-tax cash flow: $6,758/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): 25,187
• Household income: $56,545
• Rent vs Own: 60.1% rent · 39.9% own
• Severe rent burden: 1391.0

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 0.59)
• Race & ethnicity: Black 58% White 26% Two or more races 7% Asian 6% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 2% Lithuanian 2% Iranian 1%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 89% English-only · Other Asian/Pacific 4% Spanish 3% Other Indo-European 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: ▼ -70.59%
• Current HPI: 264.1941
• Rent YoY: ▲ 7.14%
• 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

-97.6% since first listed

10 events — show timeline

• 2026-05-03 Rental Removed $1,099 APPFOLIO
• 2026-04-30 Listed for Rent $1,099 APPFOLIO
• 2026-04-24 Pending — METROMLS
• 2026-04-02 Contingent — METROMLS
• 2026-03-30 Listed $189,900 METROMLS
• 2025-08-09 Rental Removed $999 APPFOLIO
• 2025-07-31 Listed for Rent $999 APPFOLIO
• 2012-03-27 Listing Removed — METROMLS
• 2012-03-27 Listed $62,000 METROMLS
• 2009-03-31 Sold (MLS) $45,000 METROMLS