1912 W Rogers St · Milwaukee, WI 53204

$131,900

4 bd · 2.0 ba · 1,817 sqft · MultiFamily · 63 Days on market

Built 1913 Fair condition 3,484 sqft lot $73/sqft · 22% below area Est $169k · 22% under ↓ 4% since listing

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Why this score? — see what drove the A 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
• Appreciation +10.0/10.0
• Livability +4.0/5.0
• Rent growth +3.0/5.0
• Condition / age +2.2/5.0
• Schools +1.2/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Great investment opportunity in Milwaukee! This duplex features two spacious units, lower with 2 bedrooms and 1 full bath and upper with 3 bedrooms and 1 full bath. Both units are rented at $650/month with matching security deposits on MTM leases, offering immediate cash flow and flexibility for future rent increases. Located near Walker's Point, just minutes from downtown, with easy access to dining, cafes, and nightlife along National Ave, plus convenient access to public transit, major roadways, parks, and Rogers Street Academy, making it an attractive option for tenants. Great for investors or owner-occupants seeking value and location.

Key facts

• Two spacious units
• 3,484 sq ft lot
• Built 1913

Tags

• TWO SPACIOUS UNITS
• EASY ACCESS TO DINING
• EASY ACCESS TO PUBLIC TRANSIT

🏷️ Possibly a rental listed for sale. The $131,900 price doesn't fit this home's estimated sale value (~$169,062) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 1×2bd/1ba + 1×3bd/1ba units multifamily listed at $132k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $970 ($12k/yr) — positive. Per door: $485/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $132k).
• Recommended offer: $124k (6.0% below list) — sets the bar for market timing.
• Cap rate 15.1% 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 (+2.0%/yr); 56 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $2,382/mo this rent would consume 62% of the median local household income ($46k/yr) (locally 2357% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $14k of equity ($912 loan paydown + $13k appreciation (10.0% local appreciation)).
• Milwaukee County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 2.0% rent growth), your $37k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($124k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,986 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1913 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.81% ✓
• Cap rate: 15.12%
• Cash-on-cash: 31.53%
• DSCR: 2.40
• GRM: 4.6

CMA / ARV

• ARV (median comp): $169,062
• List price: $131,900
• Delta: -21.98%
• 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
2133 S 20th St	0.20mi	4/2.0	1,754 (-4%)	3mo	$130,000	$74	82
2111 W Burnham St Unit 2111A	0.14mi	4/2.0	1,977 (+9%)	0mo	$194,000	$98	79
1571 S 14th St	0.56mi	4/2.0	1,830 (+1%)	0mo	$155,000	$85	73
1600 S Muskego Ave	0.37mi	5/2.0 (+1)	1,910 (+5%)	3mo	$140,140	$73	67
2119 S 14th St	0.41mi	5/2.0 (+1)	1,968 (+8%)	3mo	$220,000	$112	59
1423 S Comstock Ave	0.55mi	5/2.0 (+1)	1,731 (-5%)	3mo	$148,148	$86	59
2322 S 15th Pl	0.50mi	5/2.0 (+1)	1,694 (-7%)	4mo	$265,000	$156	57
2239 S 11th St	0.66mi	4/2.0	1,920 (+6%)	4mo	$260,000	$135	57
2411 S 12th St	0.72mi	4/2.0	1,916 (+5%)	5mo	$125,000	$65	53
2375 S 15th Pl	0.56mi	5/2.0 (+1)	1,619 (-11%)	2mo	$185,000	$114	50
1300 W Greenfield Ave	0.75mi	5/2.0 (+1)	1,692 (-7%)	3mo	$155,000	$92	46
2607 W Orchard St	0.69mi	5/2.0 (+1)	1,620 (-11%)	3mo	$127,127	$78	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 2.0% rent growth · sell at horizon

5-year hold

• IRR: 47.7%
• Equity multiple: 4.56×
• Total profit: $131,295
• Equity at exit: $118,826

10-year hold

• IRR: 41.1%
• Equity multiple: 10.03×
• Total profit: $333,495
• Equity at exit: $256,253

Cash invested: $36,932 (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 53204

• Home prices YoY: 19.0%
• Rents YoY: 2.0%
• Active inventory: 56
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,382 high
• Mortgage (P&I): −$692
• Tax est. 1.5%: −$165 /mo · $1,978/yr
• Insurance: −$55
• HOA: −$0
• Vacancy / Maint / Mgmt: −$500
• Net cashflow: $970

Break-even live

Break-even rent $1,154

Max offer price $131,900

Occupancy floor 54%

Sensitivity live

Price	-10% $1,061	-5% $1,016	+0% $970	+5% $925	+10% $879
Rent	-10% $782	-5% $876	+0% $970	+5% $1,064	+10% $1,158
Rate	-1.0pp $1,037	-0.5pp $1,004	base $970	+0.5pp $936	+1.0pp $901

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,131
1× unit	3	1	$1,251
Total (2 units)			$2,382

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: $32,975
• Closing costs: $3,957
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1812 S 7th St Milwaukee, WI	3.0	1.5	1703	$2,100	$1.23	25d	1	0.88mi

Listing history 12 events

1. 2026-06-05
   days on market $131,900 Active 63 DOM
2. 2026-06-03
   days on market $131,900 Active 62 DOM
3. 2026-06-02
   days on market $131,900 Active 61 DOM
4. 2026-06-01
   pricedays on market $131,900 Active 60 DOM
5. 2026-05-31
   days on market $132,900 Active 59 DOM
6. 2026-05-18
   price $133,900 648-char remark

   Show marketing remark (648 chars)

   Great investment opportunity in Milwaukee! This duplex features two spacious units, lower with 2 bedrooms and 1 full bath and upper with 3 bedrooms and 1 full bath. Both units are rented at $650/month with matching security deposits on MTM leases, offering immediate cash flow and flexibility for future rent increases. Located near Walker's Point, just minutes from downtown, with easy access to dining, cafes, and nightlife along National Ave, plus convenient access to public transit, major roadways, parks, and Rogers Street Academy, making it an attractive option for tenants. Great for investors or owner-occupants seeking value and location.

7. 2026-05-11
   price $134,900 648-char remark

   Show marketing remark (648 chars)

   Great investment opportunity in Milwaukee! This duplex features two spacious units, lower with 2 bedrooms and 1 full bath and upper with 3 bedrooms and 1 full bath. Both units are rented at $650/month with matching security deposits on MTM leases, offering immediate cash flow and flexibility for future rent increases. Located near Walker's Point, just minutes from downtown, with easy access to dining, cafes, and nightlife along National Ave, plus convenient access to public transit, major roadways, parks, and Rogers Street Academy, making it an attractive option for tenants. Great for investors or owner-occupants seeking value and location.

8. 2026-05-04
   price $135,900 648-char remark

   Show marketing remark (648 chars)

   Great investment opportunity in Milwaukee! This duplex features two spacious units, lower with 2 bedrooms and 1 full bath and upper with 3 bedrooms and 1 full bath. Both units are rented at $650/month with matching security deposits on MTM leases, offering immediate cash flow and flexibility for future rent increases. Located near Walker's Point, just minutes from downtown, with easy access to dining, cafes, and nightlife along National Ave, plus convenient access to public transit, major roadways, parks, and Rogers Street Academy, making it an attractive option for tenants. Great for investors or owner-occupants seeking value and location.

9. 2026-04-28
   price $136,900 648-char remark

   Show marketing remark (648 chars)

   Great investment opportunity in Milwaukee! This duplex features two spacious units, lower with 2 bedrooms and 1 full bath and upper with 3 bedrooms and 1 full bath. Both units are rented at $650/month with matching security deposits on MTM leases, offering immediate cash flow and flexibility for future rent increases. Located near Walker's Point, just minutes from downtown, with easy access to dining, cafes, and nightlife along National Ave, plus convenient access to public transit, major roadways, parks, and Rogers Street Academy, making it an attractive option for tenants. Great for investors or owner-occupants seeking value and location.

10. 2026-04-20
    price $137,900 648-char remark

    Show marketing remark (648 chars)

    Great investment opportunity in Milwaukee! This duplex features two spacious units, lower with 2 bedrooms and 1 full bath and upper with 3 bedrooms and 1 full bath. Both units are rented at $650/month with matching security deposits on MTM leases, offering immediate cash flow and flexibility for future rent increases. Located near Walker's Point, just minutes from downtown, with easy access to dining, cafes, and nightlife along National Ave, plus convenient access to public transit, major roadways, parks, and Rogers Street Academy, making it an attractive option for tenants. Great for investors or owner-occupants seeking value and location.

11. 2026-04-15
    price $138,900 648-char remark

    Show marketing remark (648 chars)

    Great investment opportunity in Milwaukee! This duplex features two spacious units, lower with 2 bedrooms and 1 full bath and upper with 3 bedrooms and 1 full bath. Both units are rented at $650/month with matching security deposits on MTM leases, offering immediate cash flow and flexibility for future rent increases. Located near Walker's Point, just minutes from downtown, with easy access to dining, cafes, and nightlife along National Ave, plus convenient access to public transit, major roadways, parks, and Rogers Street Academy, making it an attractive option for tenants. Great for investors or owner-occupants seeking value and location.

12. 2026-04-02
    listed $139,900 Active 648-char remark

    Show marketing remark (648 chars)

    Great investment opportunity in Milwaukee! This duplex features two spacious units, lower with 2 bedrooms and 1 full bath and upper with 3 bedrooms and 1 full bath. Both units are rented at $650/month with matching security deposits on MTM leases, offering immediate cash flow and flexibility for future rent increases. Located near Walker's Point, just minutes from downtown, with easy access to dining, cafes, and nightlife along National Ave, plus convenient access to public transit, major roadways, parks, and Rogers Street Academy, making it an attractive option for tenants. Great for investors or owner-occupants seeking value and location.

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 75% 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,584
• − Mortgage interest: −$7,388
• − Property taxes: −$1,978
• − Insurance: −$660
• − Repairs & maintenance: −$2,287
• − Management: −$2,287
• − Depreciation: −$3,837
• Taxable income: $10,147
• Est. tax owed @ 24.0%: −$2,435
• After-tax cash flow: $9,208/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 · 12 photos

Fair 45/100 Moderate rehab

This two-unit property requires moderate rehabilitation, including painting and landscaping, to improve its condition and value.

Repairs flagged

• Major Paint — Paint appears chipped and worn in some areas
• Major Landscaping — Landscaping appears unkempt

Value-add opportunities

• Both Paint job — Fresh paint can improve the home's appearance and value
• Both Landscaping — A well-maintained yard can increase curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint · Paint appears chipped and worn in some areas	Major	$15,000–50,000
Landscaping · Landscaping appears unkempt	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both Paint job — Fresh paint can improve the home's appearance and value ↑
• Both Landscaping — A well-maintained yard can increase curb appeal and 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): 39,996
• Household income: $45,934
• Rent vs Own: 73.8% rent · 26.2% own
• Severe rent burden: 2357.0

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 Hispanic (68%)
• Race & ethnicity: Hispanic / Latino 68% Two or more races 35% White 15% Black 11% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 51% Puerto Rican 13%
• Common ancestry: Romanian 3% Portuguese 1% Lithuanian 1%
• Foreign-born: 28% · Canada
• Languages at home: 35% English-only · Spanish 61% Other Asian/Pacific 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: ▲ 64.27%
• Current HPI: 403.236
• Rent YoY: ▲ 2.00%
• 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

-4.3% since first listed

7 events — show timeline

• 2026-05-18 Price Changed $133,900 METROMLS
• 2026-05-11 Price Changed $134,900 METROMLS
• 2026-05-04 Price Changed $135,900 METROMLS
• 2026-04-28 Price Changed $136,900 METROMLS
• 2026-04-20 Price Changed $137,900 METROMLS
• 2026-04-15 Price Changed $138,900 METROMLS
• 2026-04-02 Listed $139,900 METROMLS