518 E Lloyd St #520 · Milwaukee, WI 53212

$299,000

None bd · None ba · — sqft · MultiFamily · 7 Days on market

Built 1904 Fair condition 3,484 sqft lot Est $359k · 17% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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: 3 units. confirmed

Listing remarks MLS

Investor Alert! Don't miss this great opportunity to own a fully rented 3-unit property in Milwaukee. Conveniently located near public transportation, shopping, and major amenities, this property is already cash-flowing with reliable tenants in place.

Key facts

• 3,484 sq ft lot
• Built 1904
• Listed 7 days

Property features AI

Finance

• Other: Inclusions: three ovens/ranges, three refrigerators, one coin washer, one coin dryer; Exclusions: seller and tenant personal property

Exterior

• Parking: Inside parking available; Outside parking available
• Utilities: Municipal water; Municipal sewer
• Home design: Multi-family property (Duplex+); 3–4 stories; Zoned RT4 Residential
• Construction: Less than 1/2 acre lot (approximately 0.08 acre); Year built information from assessor/public record
• Exterior features: Wood exterior; Outdoor space

Interior

• Kitchen: Three ovens/ranges; Three refrigerators
• Heating & cooling: Forced air heating; Natural gas fuel
• Interior features: Full basement with laundry facilities; Three units in the building
• Laundry & utility: Seller-owned washer and dryer; One coin-operated washer; One coin-operated dryer; Seller-owned water heater

What this means for you Summary

Snapshot

• This is a 1×3bd/1ba + 1×2bd/1ba + 1×1bd/1ba units multifamily listed at $299k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $584/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $299k).
• Cap rate 13.3% 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); 131 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $4,832/mo this rent would consume 123% 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 $9k 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 + 5.0% rent growth), your $84k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1904 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $299,000

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 1904 — 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. 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: 1.62% ✓
• Cap rate: 13.32%
• Cash-on-cash: 25.10%
• DSCR: 2.12
• GRM: 5.2

CMA / ARV

• ARV (median comp): $358,623
• List price: $299,000
• Delta: -16.63%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1537 N 37th St #1539	0.18mi	6/2.0	2,967	1mo	$80,000	$27	78
216 E Brown St	0.24mi	2/2.0	1,780	2mo	$320,000	$180	74
1825 N Astor St	0.32mi	6/2.0	2,655	2mo	$385,000	$145	71
2438 N Pierce St	0.36mi	5/3.0	2,032	0mo	$265,000	$130	70
1682 N Cass St #1684	0.40mi	4/2.0	2,154	1mo	$332,000	$154	68
804 E Kewaunee St #806	0.43mi	5/3.0	2,611	1mo	$385,000	$147	67
2514 N Holton St #2516	0.44mi	4/2.0	2,246	1mo	$215,000	$96	66
2366 N Humboldt Blvd #2368	0.45mi	4/2.0	2,470	2mo	$450,000	$182	65
2545 N Pierce St	0.49mi	4/2.0	1,470	2mo	$250,000	$170	63
1845 N Warren Ave #1847	0.57mi	—/—	3,572	1mo	$740,000	$207	60
1923 N Oakland Ave #1925	0.70mi	—/—	4,570	2mo	$1,000,000	$219	53
2439 N Dr William Finlayson St #2441	0.73mi	—/—	2,503	2mo	$216,000	$86	52

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: 20.8%
• Equity multiple: 1.87×
• Total profit: $73,059
• Equity at exit: $44,582

10-year hold

• IRR: 30.3%
• Equity multiple: 3.99×
• Total profit: $249,908
• Equity at exit: $25,852

Cash invested: $83,720 (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: 131
• Price-to-rent: 14.5×

Monthly cashflow live

• Estimated rent: $4,832 high
• Mortgage (P&I): −$1,568
• Tax est. 1.5%: −$374 /mo · $4,485/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,015
• Net cashflow: $1,751

Break-even live

Break-even rent $2,616

Max offer price $299,000

Occupancy floor 59%

Sensitivity live

Price	-10% $1,958	-5% $1,854	+0% $1,751	+5% $1,648	+10% $1,544
Rent	-10% $1,369	-5% $1,560	+0% $1,751	+5% $1,942	+10% $2,133
Rate	-1.0pp $1,902	-0.5pp $1,827	base $1,751	+0.5pp $1,673	+1.0pp $1,595

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,724
1× unit	2	1	$1,616
1× unit	1	1	$1,492
Total (3 units)			$4,832

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2105 N Booth St Unit 2105-5 Milwaukee, WI	2.0	1.0	1000	$1,799	$1.80	18d	1	0.03mi
2220 N Holton St Milwaukee, WI	3.0	1.0	—	$1,250	—	45d	1	0.11mi
2012 N Buffum St Milwaukee, WI	3.0	2.5	2200	$2,695	$1.23	45d	1	0.11mi
329 E Garfield Ave Milwaukee, WI	2.0	1.5	1100	$1,350	$1.23	5d	1	0.13mi
1902 N Commerce St Milwaukee, WI	2.0	1.0	974	$1,895	$1.95	45d	1	0.17mi
2045 N Hubbard St Unit 2047 Milwaukee, WI	3.0	1.0	3	$1,795	$598.33	45d	1	0.19mi
2017 N Hubbard St Unit 2017A Milwaukee, WI	1.0	1.0	600	$1,250	$2.08	16d	1	0.20mi
2110 N Palmer St Milwaukee, WI	2.0	1.0	1100	$1,985	$1.80	5d	1	0.22mi
2112 N Palmer St Milwaukee, WI	2.0	1.0	—	$2,100	—	18d	1	0.22mi
1845 N Water St Milwaukee, WI	3.0	1.0–2.0	948	$3,543	$3.74	4d	84	0.24mi
1858 N Commerce St Milwaukee, WI	2.0	1.0–2.0	1124	$1,520	$1.35	16d	2	0.26mi
122-124 E Lloyd St Unit 124 Milwaukee, WI	3.0	1.0	3	$1,825	$608.33	13d	1	0.27mi
118 E Lloyd St Unit Lower Milwaukee, WI	2.0	1.0	810	$1,350	$1.67	18d	1	0.28mi
1830 N Hubbard St Apt 601 Milwaukee, WI	2.0	1.0	990	$1,900	$1.92	45d	1	0.29mi
1830 N Hubbard St Unit 607 Milwaukee, WI	2.0	1.0	850	$1,850	$2.18	18d	1	0.29mi
1830 N Hubbard St Apt 302 Milwaukee, WI	2.0	1.0	856	$1,700	$1.99	18d	1	0.29mi
910 E Land Pl Milwaukee, WI	1.0	1.0	822	$1,760	$2.14	17d	2	0.29mi
400 E Meinecke Ave #402 Milwaukee, WI	3.0	1.0	1700	$1,800	$1.06	17d	1	0.30mi
400 E Meinecke Ave Milwaukee, WI	2.0	1.0	—	$1,400	—	18d	1	0.30mi
2355 N Hubbard St Milwaukee, WI	2.0	1.0	2	$850	$425.00	5d	1	0.31mi
2355 N Hubbard St #2357 Milwaukee, WI	2.0	1.0	2	$925	$462.50	16d	1	0.31mi
1910 N Water St Milwaukee, WI	1.0	1.0	715	$1,749	$2.44	3d	7	0.33mi
922 E Hamilton St Unit Lower Milwaukee, WI	3.0	1.0	1900	$1,550	$0.82	25d	1	0.34mi
1925 N Water St #202 Milwaukee, WI	2.0	2.0	1576	$2,300	$1.46	45d	1	0.34mi
1014 E Land Pl Milwaukee, WI	3.0	2.0	1900	$2,000	$1.05	5d	1	0.36mi
2336 N 1st St Unit 8 Milwaukee, WI	1.0	1.0	650	$945	$1.45	5d	1	0.36mi
800 E Brady St Milwaukee, WI	3.0	1.0	—	$1,700	—	45d	1	0.37mi
1688 N Van Buren St Milwaukee, WI	1.0	1.0	—	$1,025	—	5d	1	0.38mi
818 E Brady St Unit 820 Milwaukee, WI	3.0	1.0	1200	$1,700	$1.42	45d	1	0.38mi
1659 N Jackson St Milwaukee, WI	1.0	1.0	840	$1,955	$2.33	4d	5	0.38mi
1025 E Land Pl Milwaukee, WI	3.0	1.0	1560	$1,750	$1.12	25d	1	0.38mi
1681 N Cass St Unit 3 Milwaukee, WI	1.0	1.0	500	$1,345	$2.69	18d	1	0.40mi
1809 N Humboldt Ave Milwaukee, WI	1.0	2.0	1739	$1,895	$1.09	45d	1	0.41mi
2130 N Commerce St Milwaukee, WI	2.0	2.5	1550	$2,495	$1.61	45d	1	0.41mi
524 E Wright St Milwaukee, WI	3.0	1.0	900	$1,275	$1.42	16d	1	0.42mi
2442 N Bremen St Milwaukee, WI	2.0	1.0	1100	$1,495	$1.36	45d	1	0.42mi
100 E Meinecke Ave Unit 2 Milwaukee, WI	2.0	1.0	—	$1,200	—	25d	1	0.42mi
2429 N Weil St Milwaukee, WI	3.0	1.0	1300	$1,500	$1.15	45d	1	0.43mi
2507 N Buffum St Milwaukee, WI	3.0	1.0	1300	$1,375	$1.06	21d	1	0.43mi
1116 E Hamilton St Milwaukee, WI	3.0	2.0	1400	$1,750	$1.25	18d	1	0.45mi

Listing history 7 events

1. 2026-05-07
   status Pending 645-char remark
2. 2026-04-29
   listed $299,000 Active 645-char remark
3. 2026-04-27
   historical $299,000 645-char remark
4. 2026-01-12
   historical 251-char remark

   Show marketing remark (251 chars)

   Investor Alert! Don't miss this great opportunity to own a fully rented 3-unit property in Milwaukee. Conveniently located near public transportation, shopping, and major amenities, this property is already cash-flowing with reliable tenants in place.

5. 2025-08-21
   price $357,500 251-char remark

   Show marketing remark (251 chars)

   Investor Alert! Don't miss this great opportunity to own a fully rented 3-unit property in Milwaukee. Conveniently located near public transportation, shopping, and major amenities, this property is already cash-flowing with reliable tenants in place.

6. 2025-07-31
   listed $360,000 Active 251-char remark

   Show marketing remark (251 chars)

   Investor Alert! Don't miss this great opportunity to own a fully rented 3-unit property in Milwaukee. Conveniently located near public transportation, shopping, and major amenities, this property is already cash-flowing with reliable tenants in place.

7. 2006-02-14
   soldstatus $199,373

   Show marketing remark (393 chars)

   3 Blocks from Brady St. & Brewers Hill! Well maint. 3 fam includes a huge attic w/ 2 staircases for possible expansion. Lrg lower 3 BR w/ foyer, parlor, & formal DR w/ built-ins (rent could be higher) 2BR & 1BR units have updated kit & BA. Newer appliances, furnace, hwhs, glass block windows, kit & BA floors, lots of charm w/ nat WW & some refinished HWF's!

ⓘ 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: $57,984
• − Mortgage interest: −$16,749
• − Property taxes: −$4,485
• − Insurance: −$1,495
• − Repairs & maintenance: −$4,639
• − Management: −$4,639
• − Depreciation: −$8,698
• Taxable income: $17,280
• Est. tax owed @ 24.0%: −$4,147
• After-tax cash flow: $16,864/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 · 2 photos

Fair 45/100 Moderate rehab

This triplex in the Riverwest neighborhood requires moderate repairs and maintenance, particularly painting the exterior siding and landscaping, to improve its resale and rental value.

Repairs flagged

• Major Painting exterior siding — Significant discoloration
• Minor Landscaping — Overgrown grass

Value-add opportunities

• Both Painting exterior siding — Enhances curb appeal and property value
• Both Landscaping — Improves curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Painting exterior siding · Significant discoloration	Major	$15,000–50,000
Landscaping · Overgrown grass	Minor	$500–3,000
Total estimated repair cost · 2 items		$15,500–53,000

Value-add ROI direction

• Both Painting exterior siding — Enhances curb appeal and property value ↑
• Both Landscaping — Improves curb appeal and property 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): 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

+63.0% since first listed

8 events — show timeline

• 2026-05-26 Sold (MLS) $325,000 METROMLS
• 2026-05-07 Pending — METROMLS
• 2026-04-29 Listed $299,000 METROMLS
• 2026-04-27 Coming Soon $299,000 METROMLS
• 2026-01-12 Listing Removed — METROMLS
• 2025-08-21 Price Changed $357,500 METROMLS
• 2025-07-31 Listed $360,000 METROMLS
• 2006-02-14 Sold (MLS) $199,373 METROMLS