134 E Concordia Ave · Milwaukee, WI 53212

$144,900

5 bd · 2.0 ba · 1,531 sqft · MultiFamily public records · 93 Days on market

Built 1906 2,613 sqft lot $95/sqft · 12% above area Est $130k · 12% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• ARV discount +2.2/15.0
• 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

Charming 2-family duplex located in Milwaukee's Harambee neighborhood, offering an excellent investment or owner-occupant opportunity. Each unit features a functional layout with comfortable living space, spacious bedrooms, and full baths. Classic Milwaukee architecture adds character while providing strong rental appeal. Situated near downtown, Riverwest, public transit, parks, and local amenities, this property offers convenient access to shopping, dining, and major commuter routes. With consistent rental demand in the area, this duplex presents great potential for steady cash flow and long-term equity growth. Perfect for investors looking to expand their portfolio or buyers seeking to live in one unit while renting the other.

Key facts

• Public transit
• Near downtown
• 2 family duplex

Tags

• 2 FAMILY DUPLEX
• FUNCTIONAL LAYOUT
• MILWAUKEE ARCHITECTURE
• NEAR DOWNTOWN
• PUBLIC TRANSIT
• LOCAL AMENITIES

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $145k.

Deal economics

• At list price, monthly cash flow is $686 ($8k/yr) — positive. Per door: $343/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $132k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.0% 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; 8 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $2,178/mo this rent would consume 55% 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 $1k of loan paydown is wiped out by about $4k 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 $41k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 93 days — a 9% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago; this cycle's ask has dropped $25k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $92k; list at $145k implies a 57% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $131,859 (9.0% below list)

Questions for the listing agent

1. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% 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. Built in 1906 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.50% ✓
• Cap rate: 11.97%
• Cash-on-cash: 20.28%
• DSCR: 1.90
• GRM: 5.5

CMA / ARV

• ARV (median comp): $129,664
• List price: $144,900
• Delta: 11.75%
• 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
3037 N 1st St	0.34mi	4/2.0 (-1)	1,526 (-0%)	3mo	$120,000	$79	76
3468 N Richards St	0.25mi	5/2.0	1,640 (+7%)	1mo	$230,000	$140	76
3351 N 6th St Unit 3351A	0.47mi	4/2.0 (-1)	1,538 (+0%)	4mo	$93,000	$60	69
522 E Burleigh St	0.37mi	4/2.0 (-1)	1,635 (+7%)	1mo	$160,000	$98	66
3043 N Dr William Finlayson St #3045	0.49mi	4/2.0 (-1)	1,633 (+7%)	3mo	$125,000	$77	58
3711 N 1st St #3713	0.40mi	4/2.0 (-1)	1,680 (+10%)	3mo	$160,000	$95	58
3134 N Holton St	0.32mi	4/2.0 (-1)	1,705 (+11%)	4mo	$140,000	$82	57
3026 N Pierce St	0.51mi	4/2.0 (-1)	1,684 (+10%)	1mo	$77,000	$46	54
215 E Chambers St	0.41mi	4/2.0 (-1)	1,733 (+13%)	4mo	$110,000	$63	51
3134 N 9th St	0.66mi	5/2.0	1,701 (+11%)	3mo	$159,000	$93	48
3518 N 9th St	0.67mi	4/2.0 (-1)	1,654 (+8%)	9mo	$116,000	$70	43
2724 N Palmer St Unit 2724A	0.72mi	4/2.0 (-1)	1,746 (+14%)	4mo	$104,900	$60	34

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: 14.8%
• Equity multiple: 1.61×
• Total profit: $24,717
• Equity at exit: $21,605

10-year hold

• IRR: 25.0%
• Equity multiple: 3.39×
• Total profit: $97,085
• Equity at exit: $12,528

Cash invested: $40,572 (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: 11.1×

Monthly cashflow live

• Estimated rent: $2,178 high
• Mortgage (P&I): −$760
• Tax from tax record: −$215 /mo · $2,576/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$457
• Net cashflow: $686

Break-even live

Break-even rent $1,310

Max offer price $144,900

Occupancy floor 64%

Sensitivity live

Price	-10% $768	-5% $727	+0% $686	+5% $645	+10% $604
Rent	-10% $514	-5% $600	+0% $686	+5% $772	+10% $858
Rate	-1.0pp $759	-0.5pp $723	base $686	+0.5pp $648	+1.0pp $610

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,178
Total (2 units)			$2,178

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
223 E Burleigh St Unit 223 Milwaukee, WI	4.0	1.0	1153	$1,395	$1.21	44d	1	0.31mi
3131 N Bartlett Ave Unit 1 Milwaukee, WI	4.0	1.0	1600	$1,750	$1.09	44d	1	1.07mi
3377 N Oakland Ave Milwaukee, WI	4.0	2.0	1358	$2,550	$1.88	2d	1	1.11mi
1814 E Linnwood Ave Milwaukee, WI	4.0	2.0	1800	$3,100	$1.72	44d	1	1.22mi
1902 E Linnwood Ave Unit 1902 04 Milwaukee, WI	4.0	1.5	1599	$2,400	$1.50	18d	1	1.26mi
1902 E Linnwood Ave Unit 1902 05 Milwaukee, WI	4.0	1.5	1599	$2,400	$1.50	5d	1	1.26mi
2937 N Frederick Ave Milwaukee, WI	4.0	1.0	1700	$1,925	$1.13	5d	1	1.38mi
2974 N Frederick Ave Milwaukee, WI	4.0	2.0	1626	$2,600	$1.60	44d	1	1.40mi

Listing history 30 events

1. 2026-06-21
   days on market $144,900 Active 93 DOM
2. 2026-06-18
   days on market $144,900 Active 90 DOM
3. 2026-06-17
   days on market $144,900 Active 89 DOM
4. 2026-06-16
   days on market $144,900 Active 88 DOM
5. 2026-06-15
   pricedays on market $144,900 Active 87 DOM
6. 2026-06-13
   days on market $149,900 Active 85 DOM
7. 2026-06-13
   days on market $149,900 Active 84 DOM
8. 2026-06-09
   days on market $149,900 Active 81 DOM
9. 2026-06-08
   days on market $149,900 Active 80 DOM
10. 2026-06-07
    days on market $149,900 Active 79 DOM
11. 2026-06-05
    days on market $149,900 Active 76 DOM
12. 2026-06-03
    days on market $149,900 Active 75 DOM
13. 2026-06-02
    days on market $149,900 Active 74 DOM
14. 2026-06-02
    price $149,900 Active 73 DOM
15. 2026-06-01
    days on market $159,900 Active 73 DOM
16. 2026-05-31
    days on market $159,900 Active 72 DOM
17. 2026-04-23
    price $159,900 738-char remark

    Show marketing remark (738 chars)

    Charming 2-family duplex located in Milwaukee's Harambee neighborhood, offering an excellent investment or owner-occupant opportunity. Each unit features a functional layout with comfortable living space, spacious bedrooms, and full baths. Classic Milwaukee architecture adds character while providing strong rental appeal. Situated near downtown, Riverwest, public transit, parks, and local amenities, this property offers convenient access to shopping, dining, and major commuter routes. With consistent rental demand in the area, this duplex presents great potential for steady cash flow and long-term equity growth. Perfect for investors looking to expand their portfolio or buyers seeking to live in one unit while renting the other.

18. 2026-04-16
    price $164,900 738-char remark

    Show marketing remark (738 chars)

    Charming 2-family duplex located in Milwaukee's Harambee neighborhood, offering an excellent investment or owner-occupant opportunity. Each unit features a functional layout with comfortable living space, spacious bedrooms, and full baths. Classic Milwaukee architecture adds character while providing strong rental appeal. Situated near downtown, Riverwest, public transit, parks, and local amenities, this property offers convenient access to shopping, dining, and major commuter routes. With consistent rental demand in the area, this duplex presents great potential for steady cash flow and long-term equity growth. Perfect for investors looking to expand their portfolio or buyers seeking to live in one unit while renting the other.

19. 2026-03-20
    listed $169,900 Active 738-char remark

    Show marketing remark (738 chars)

    Charming 2-family duplex located in Milwaukee's Harambee neighborhood, offering an excellent investment or owner-occupant opportunity. Each unit features a functional layout with comfortable living space, spacious bedrooms, and full baths. Classic Milwaukee architecture adds character while providing strong rental appeal. Situated near downtown, Riverwest, public transit, parks, and local amenities, this property offers convenient access to shopping, dining, and major commuter routes. With consistent rental demand in the area, this duplex presents great potential for steady cash flow and long-term equity growth. Perfect for investors looking to expand their portfolio or buyers seeking to live in one unit while renting the other.

20. 2021-06-02
    soldstatus $92,500
21. 2021-05-24
    soldstatus $92,500 Sold 228-char remark

    Show marketing remark (228 chars)

    Great Property for your Rental Portfolio! The ''heavy lifting'' has already been done for you. Property has been renovated, kitchen, bathroom, flooring, etc. for both units. Buyer is responsible for determining room dimensions.

22. 2021-05-12
    status Pending 228-char remark

    Show marketing remark (228 chars)

    Great Property for your Rental Portfolio! The ''heavy lifting'' has already been done for you. Property has been renovated, kitchen, bathroom, flooring, etc. for both units. Buyer is responsible for determining room dimensions.

23. 2021-04-29
    listed $120,900 Active 228-char remark

    Show marketing remark (228 chars)

    Great Property for your Rental Portfolio! The ''heavy lifting'' has already been done for you. Property has been renovated, kitchen, bathroom, flooring, etc. for both units. Buyer is responsible for determining room dimensions.

24. 2017-01-12
    soldstatus $5,000 Sold
25. 2016-11-09
    historical Contingent
26. 2016-07-22
    listed $5,000 Active
27. 2001-01-26
    soldstatus $65,000
28. 2000-11-03
    soldstatus $822,000
29. 1991-01-01
    soldstatus $57,500
30. 1990-05-01
    soldstatus $37,700

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast WI · Partial reset (capped growth)

• Current annual tax: $2,576 · $215/mo
• Projected year-2 tax: $2,628 · $219/mo
• Expected delta: +$52/yr (+$4/mo · 2.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,136
• − Mortgage interest: −$8,117
• − Property taxes: −$2,576
• − Insurance: −$724
• − Repairs & maintenance: −$2,091
• − Management: −$2,091
• − Depreciation: −$4,215
• Taxable income: $6,322
• Est. tax owed @ 24.0%: −$1,517
• After-tax cash flow: $6,711/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): 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

+324.1% since first listed

14 events — show timeline

• 2026-04-23 Price Changed $159,900 METROMLS
• 2026-04-16 Price Changed $164,900 METROMLS
• 2026-03-20 Listed $169,900 METROMLS
• 2021-06-02 Sold (Public Records) $92,500 Public Records
• 2021-05-24 Sold (MLS) $92,500 METROMLS
• 2021-05-12 Pending — METROMLS
• 2021-04-29 Listed $120,900 METROMLS
• 2017-01-12 Sold (MLS) $5,000 METROMLS
• 2016-11-09 Contingent — METROMLS
• 2016-07-22 Listed $5,000 METROMLS
• 2001-01-26 Sold (Public Records) $65,000 Public Records
• 2000-11-03 Sold (Public Records) $822,000 Public Records
• 1991-01-01 Sold (Public Records) $57,500 Public Records
• 1990-05-01 Sold (Public Records) $37,700 Public Records

Property tax history

-1.2%/yr

Latest (2024): $2,576 · -8.4% YoY. Source: county tax records.