2629 N 44th St #2631 · Milwaukee, WI 53210

$174,900

6 bd · 2.0 ba · 2,834 sqft · MultiFamily · 50 Days on market

Built 1921 Fair condition 4,791 sqft lot $62/sqft · 22% above area Est $144k · 22% over

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Why this score? — see what drove the C+ 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
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• Livability +4.0/5.0
• Rent growth +3.5/5.0
• 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 MLS

Investors! Look no further, this is it! A fully occupied 3/3 Duplex property. Each with a formal dining room and generously sized bedrooms with full basement. The property boasts a new roof installed in 2021, fresh paint from 2023, updated flooring, windows and newly remodeled bathrooms. All included appliances are just 1 year old. Don't miss out - come check it out.

Key facts

• 4,791 sq ft lot
• Parking
• Built 1921

Property features AI

Finance

• Financial info: Property is a 2-unit investment (each unit approximately 1,417 sq ft); Included appliances: 2 stoves and 2 refrigerators (tenant personal property excluded)

Exterior

• Parking: 1 assigned parking space
• Utilities: Municipal water; Municipal sewer; One electric meter; One gas meter
• Home design: 2-story duplex (multi-family)
• Construction: Built (year per assessor/public record)
• Exterior features: Brick, stone and vinyl exterior

Interior

• Kitchen: Each unit has a kitchen (Unit 2 kitchen approx. 11 x 10)
• Bedrooms: Each unit has 3 bedrooms (Unit 2 bedrooms located on the upper level; Unit 2 master approx. 20 x 11, second bedroom 12 x 10)
• Bathrooms: Each unit has 1 full bathroom
• Interior features: Full block basement
• Laundry & utility: Each unit includes washer and dryer (2 washers and 2 dryers included)

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $175k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $751 ($9k/yr) — positive. Per door: $375/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $170k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.4% 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 (+3.8%/yr); 143 active listings in the ZIP; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $2,480/mo this rent would consume 62% of the median local household income ($48k/yr) (locally 1730% 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 $5k 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 + 3.8% rent growth), your $49k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y ago 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.
• Current owner paid $150k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1921 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $169,653 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% 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 1921 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 1.42% ✓
• Cap rate: 11.44%
• Cash-on-cash: 18.39%
• DSCR: 1.82
• GRM: 5.9

CMA / ARV

• ARV (median comp): $143,519
• List price: $174,900
• Delta: 21.87%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2646 N 50th St #2648	0.34mi	6/2.0	2,826 (-0%)	1mo	$155,000	$55	82
2844 N 50th St #2846	0.44mi	6/2.0	2,906 (+2%)	3mo	$140,000	$48	73
2642 N 50th St #2644	0.34mi	6/2.0	2,612 (-8%)	1mo	$264,000	$101	70
2771 N 40th St #2773	0.34mi	6/2.0	2,614 (-8%)	2mo	$135,000	$52	70
2139 N 48th St #2141	0.65mi	6/2.0	2,866 (+1%)	1mo	$219,000	$76	67
2403 N 49th St #2405	0.42mi	6/2.0	2,642 (-7%)	4mo	$162,888	$62	66
2328 N 45th St #2330	0.37mi	7/2.0 (+1)	2,622 (-8%)	2mo	$175,000	$67	64
3002 N 40th St #3004	0.56mi	6/2.0	2,972 (+5%)	4mo	$184,900	$62	62
2200 N 42nd St #2202	0.54mi	6/2.0	2,565 (-10%)	0mo	$37,000	$14	59
2422 N 40th St #2424	0.39mi	6/2.0	2,490 (-12%)	5mo	$115,000	$46	57
2445 N 50th St #2447	0.44mi	6/2.0	3,226 (+14%)	5mo	$168,000	$52	52
2107 N 48th St #2109	0.69mi	6/2.0	2,552 (-10%)	3mo	$250,000	$98	49

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 · 3.82% rent growth · sell at horizon

5-year hold

• IRR: 11.0%
• Equity multiple: 1.44×
• Total profit: $21,559
• Equity at exit: $26,078

10-year hold

• IRR: 20.7%
• Equity multiple: 2.82×
• Total profit: $89,082
• Equity at exit: $15,122

Cash invested: $48,972 (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 53210

• Home prices YoY: -21.5%
• Rents YoY: 3.8%
• Active inventory: 143
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $2,480 high
• Mortgage (P&I): −$917
• Tax est. 1.5%: −$219 /mo · $2,624/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$521
• Net cashflow: $751

Break-even live

Break-even rent $1,530

Max offer price $174,900

Occupancy floor 65%

Sensitivity live

Price	-10% $871	-5% $811	+0% $751	+5% $690	+10% $630
Rent	-10% $555	-5% $653	+0% $751	+5% $848	+10% $946
Rate	-1.0pp $839	-0.5pp $795	base $751	+0.5pp $705	+1.0pp $659

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,480
Total (2 units)			$2,480

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   statusdays on market $174,900 Contingent 50 DOM
2. 2026-06-18
   days on market $174,900 Active 47 DOM
3. 2026-06-17
   days on market $174,900 Active 46 DOM
4. 2026-06-16
   days on market $174,900 Active 45 DOM
5. 2026-06-15
   days on market $174,900 Active 44 DOM
6. 2026-06-13
   days on market $174,900 Active 42 DOM
7. 2026-06-13
   days on market $174,900 Active 41 DOM
8. 2026-06-09
   days on market $174,900 Active 38 DOM
9. 2026-06-08
   days on market $174,900 Active 37 DOM
10. 2026-06-07
    days on market $174,900 Active 36 DOM
11. 2026-06-05
    days on market $174,900 Active 33 DOM
12. 2026-06-03
    pricedays on market $174,900 Active 32 DOM
13. 2026-06-02
    days on market $179,900 Active 31 DOM
14. 2026-06-01
    days on market $179,900 Active 30 DOM
15. 2026-05-31
    days on market $179,900 Active 29 DOM
16. 2026-05-02
    listed $179,900 Active 459-char remark
17. 2025-01-06
    soldstatus $150,000 Sold 369-char remark

    Show marketing remark (369 chars)

    Investors! Look no further, this is it! A fully occupied 3/3 Duplex property. Each with a formal dining room and generously sized bedrooms with full basement. The property boasts a new roof installed in 2021, fresh paint from 2023, updated flooring, windows and newly remodeled bathrooms. All included appliances are just 1 year old. Don't miss out - come check it out.

18. 2024-10-31
    status Pending 369-char remark

    Show marketing remark (369 chars)

    Investors! Look no further, this is it! A fully occupied 3/3 Duplex property. Each with a formal dining room and generously sized bedrooms with full basement. The property boasts a new roof installed in 2021, fresh paint from 2023, updated flooring, windows and newly remodeled bathrooms. All included appliances are just 1 year old. Don't miss out - come check it out.

19. 2024-10-17
    listed $177,000 Active 369-char remark

    Show marketing remark (369 chars)

    Investors! Look no further, this is it! A fully occupied 3/3 Duplex property. Each with a formal dining room and generously sized bedrooms with full basement. The property boasts a new roof installed in 2021, fresh paint from 2023, updated flooring, windows and newly remodeled bathrooms. All included appliances are just 1 year old. Don't miss out - come check it out.

20. 2020-12-10
    soldstatus $107,500 Sold

    Show marketing remark (244 chars)

    Don't miss out on this spacious 3/3 duplex. Both units feature living and formal dining room. Upper unit has bonus attic, could be finished for additional space. Perfect for owner occupant or investor. Come see today!! Room sizes are estimates.

21. 2020-10-20
    status Pending

    Show marketing remark (244 chars)

    Don't miss out on this spacious 3/3 duplex. Both units feature living and formal dining room. Upper unit has bonus attic, could be finished for additional space. Perfect for owner occupant or investor. Come see today!! Room sizes are estimates.

22. 2020-10-07
    status Active

    Show marketing remark (244 chars)

    Don't miss out on this spacious 3/3 duplex. Both units feature living and formal dining room. Upper unit has bonus attic, could be finished for additional space. Perfect for owner occupant or investor. Come see today!! Room sizes are estimates.

23. 2020-09-28
    status Pending

    Show marketing remark (244 chars)

    Don't miss out on this spacious 3/3 duplex. Both units feature living and formal dining room. Upper unit has bonus attic, could be finished for additional space. Perfect for owner occupant or investor. Come see today!! Room sizes are estimates.

24. 2020-09-25
    listed $120,000 Active

    Show marketing remark (244 chars)

    Don't miss out on this spacious 3/3 duplex. Both units feature living and formal dining room. Upper unit has bonus attic, could be finished for additional space. Perfect for owner occupant or investor. Come see today!! Room sizes are estimates.

ⓘ 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 ≥98°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: $29,760
• − Mortgage interest: −$9,797
• − Property taxes: −$2,624
• − Insurance: −$874
• − Repairs & maintenance: −$2,381
• − Management: −$2,381
• − Depreciation: −$5,088
• Taxable income: $6,615
• Est. tax owed @ 24.0%: −$1,588
• After-tax cash flow: $7,418/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 duplex requires moderate renovations to update the kitchens and bathrooms, which would significantly increase its resale and rental value.

Repairs flagged

• Moderate kitchen cabinets — dated and worn
• Moderate kitchen countertops — dated and worn
• Moderate kitchen appliances — dated and worn
• Moderate bathroom fixtures — dated and worn
• Moderate bathroom tile — dated and worn

Value-add opportunities

• Both update kitchen cabinets and countertops — modernizing the kitchen would appeal to both buyers and renters
• Both update bathroom fixtures and tile — modernizing the bathrooms would appeal to both buyers and renters
• Both paint interior walls — fresh paint would improve the home's curb appeal and interior aesthetics
• Both replace kitchen appliances — modern appliances would improve the home's functionality and appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and worn	Moderate	$3,000–15,000
kitchen countertops · dated and worn	Moderate	$3,000–15,000
kitchen appliances · dated and worn	Moderate	$3,000–15,000
bathroom fixtures · dated and worn	Moderate	$3,000–15,000
bathroom tile · dated and worn	Moderate	$3,000–15,000
Total estimated repair cost · 5 items		$15,000–75,000

Value-add ROI direction

• Both update kitchen cabinets and countertops — modernizing the kitchen would appeal to both buyers and renters ↑
• Both update bathroom fixtures and tile — modernizing the bathrooms would appeal to both buyers and renters ↑
• Both paint interior walls — fresh paint would improve the home's curb appeal and interior aesthetics ↑
• Both replace kitchen appliances — modern appliances would improve the home's functionality and appeal ↑

ⓘ 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): 23,922
• Household income: $48,217
• Rent vs Own: 60.4% rent · 39.6% own
• Severe rent burden: 1730.0

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 Black (71%)
• Race & ethnicity: Black 71% White 17% Hispanic / Latino 6% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Romanian 2% Portuguese 1% Italian 1%
• Foreign-born: 3% · Canada, Philippines
• Languages at home: 94% English-only · Spanish 3% Other Asian/Pacific 2%

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: ▼ -76.77%
• Current HPI: 280.0133
• Rent YoY: ▲ 3.82%
• 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

+45.8% since first listed

10 events — show timeline

• 2026-06-03 Price Changed $174,900 METROMLS
• 2026-05-02 Listed $179,900 METROMLS
• 2025-01-06 Sold (MLS) $150,000 METROMLS
• 2024-10-31 Pending — METROMLS
• 2024-10-17 Listed $177,000 METROMLS
• 2020-12-10 Sold (MLS) $107,500 METROMLS
• 2020-10-20 Pending — METROMLS
• 2020-10-07 Relisted — METROMLS
• 2020-09-28 Pending — METROMLS
• 2020-09-25 Listed $120,000 METROMLS