2765 N 26th St Unit 2765A · Milwaukee, WI 53206

$135,000

6 bd · 2.0 ba · 2,225 sqft · MultiFamily · 107 Days on market

Built 1898 Fair condition 4,791 sqft lot $61/sqft · 72% above area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.6/5.0
• Livability +4.0/5.0
• 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

Quick income producing duplex with recent updates and proven rental history! This property features a 3BR/1BA lower unit and a 2BR/1BA upper unit with an additional storage room along with 4 off street tandem parking spaces. Both units were renovated within the last two years including mechanicals reducing Short term capital expenses. The property consistently generated $2,300/month in rent over the past 12 months and is perfect for tenants or an owner occupant strategy. Turnkey opportunity with strong cash-flow potential.

Key facts

• Recent updates
• Renovated units
• 4,791 sq ft lot

Tags

• INCOME PRODUCING DUPLEX
• RECENT UPDATES
• PROVEN RENTAL HISTORY
• ADDITIONAL STORAGE ROOM
• OFF STREET TANDEM PARKING
• RENOVATED UNITS

What this means for you Summary

Snapshot

• This is a 2 × 3.0-bed/1.0-bath units multifamily listed at $135k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $909 ($11k/yr) — positive. Per door: $455/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $123k (9.0% below list) — sets the bar for market timing.
• Cap rate 14.4% 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 fast (+8.3%/yr); 150 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $2,332/mo this rent would consume 95% of the median local household income ($29k/yr) (locally 2061% 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 ($933 loan paydown + $14k 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 + 8.0% rent growth), your $38k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 107 days — a 9% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 3y ago; this cycle's ask has dropped $25k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $135k implies a 170% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1898 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $122,850 (9.0% below list)

Questions for the listing agent

1. It's been on market 107 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1898 — 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: 1.73% ✓
• Cap rate: 14.38%
• Cash-on-cash: 28.87%
• DSCR: 2.28
• GRM: 4.8

CMA / ARV

• ARV (median comp): $78,509
• List price: $135,000
• Delta: 71.96%
• 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
2944 N 28th St #2946	0.24mi	5/2.0 (-1)	2,232 (+0%)	3mo	$165,000	$74	81
2873 N 26th St #2875	0.14mi	6/2.0	2,488 (+12%)	1mo	$103,000	$41	73
2463 W Chambers St #2465	0.29mi	5/2.0 (-1)	2,318 (+4%)	2mo	$50,000	$22	73
2857 N 34th St #2859	0.52mi	6/2.0	2,314 (+4%)	1mo	$135,000	$58	68
2931 W Chambers St #2933	0.35mi	5/2.0 (-1)	2,080 (-6%)	3mo	$116,000	$56	66
3282 N 30th St #3284	0.69mi	6/2.0	2,162 (-3%)	3mo	$168,000	$78	61
2813 N 21st St	0.38mi	6/2.0	1,942 (-13%)	1mo	$70,000	$36	60
2833 N 18th St #2835	0.54mi	6/2.0	2,412 (+8%)	3mo	$80,000	$33	58
3069 N 29th St Unit 3069A	0.43mi	6/2.0	1,958 (-12%)	3mo	$165,000	$84	58
3068 N 34th St Unit 3068A	0.61mi	5/2.0 (-1)	2,087 (-6%)	0mo	$110,000	$53	56
2760 N 35th St Unit 2760A	0.55mi	5/2.0 (-1)	1,897 (-15%)	2mo	$107,500	$57	43
2400 N 35th St #2402	0.72mi	5/2.0 (-1)	1,994 (-10%)	1mo	$65,000	$33	43

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 49.3%
• Equity multiple: 4.80×
• Total profit: $143,799
• Equity at exit: $121,619

10-year hold

• IRR: 45.1%
• Equity multiple: 11.81×
• Total profit: $408,522
• Equity at exit: $262,275

Cash invested: $37,800 (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 53206

• Rents YoY: 8.3%
• Active inventory: 150
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,332 high
• Mortgage (P&I): −$708
• Tax est. 1.5%: −$169 /mo · $2,025/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$490
• Net cashflow: $909

Break-even live

Break-even rent $1,181

Max offer price $135,000

Occupancy floor 56%

Sensitivity live

Price	-10% $1,003	-5% $956	+0% $909	+5% $863	+10% $816
Rent	-10% $725	-5% $817	+0% $909	+5% $1,001	+10% $1,094
Rate	-1.0pp $977	-0.5pp $944	base $909	+0.5pp $874	+1.0pp $839

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

Units	Beds	Baths	Est. rent
▸ 2× units	3.0	1	$2,332
Total (2 units)			$2,332

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2432 N 28th St Milwaukee, WI	5.0	1.5	1876	$1,600	$0.85	44d	1	0.42mi
2704 W Concordia Ave Unit Na Milwaukee, WI	5.0	2.0	1856	$2,500	$1.35	24d	1	0.72mi

Listing history 35 events

1. 2026-06-07
   days on market $135,000 Active 107 DOM
2. 2026-06-05
   days on market $135,000 Active 104 DOM
3. 2026-06-03
   days on market $135,000 Active 103 DOM
4. 2026-06-02
   days on market $135,000 Active 102 DOM
5. 2026-06-01
   days on market $135,000 Active 101 DOM
6. 2026-05-31
   days on market $135,000 Active 100 DOM
7. 2026-05-11
   price $135,000 528-char remark

   Show marketing remark (528 chars)

   Quick income producing duplex with recent updates and proven rental history! This property features a 3BR/1BA lower unit and a 2BR/1BA upper unit with an additional storage room along with 4 off street tandem parking spaces. Both units were renovated within the last two years including mechanicals reducing Short term capital expenses. The property consistently generated $2,300/month in rent over the past 12 months and is perfect for tenants or an owner occupant strategy. Turnkey opportunity with strong cash-flow potential.

8. 2026-03-31
   price $145,000 528-char remark

   Show marketing remark (528 chars)

   Quick income producing duplex with recent updates and proven rental history! This property features a 3BR/1BA lower unit and a 2BR/1BA upper unit with an additional storage room along with 4 off street tandem parking spaces. Both units were renovated within the last two years including mechanicals reducing Short term capital expenses. The property consistently generated $2,300/month in rent over the past 12 months and is perfect for tenants or an owner occupant strategy. Turnkey opportunity with strong cash-flow potential.

9. 2026-03-10
   price $150,000 528-char remark

   Show marketing remark (528 chars)

   Quick income producing duplex with recent updates and proven rental history! This property features a 3BR/1BA lower unit and a 2BR/1BA upper unit with an additional storage room along with 4 off street tandem parking spaces. Both units were renovated within the last two years including mechanicals reducing Short term capital expenses. The property consistently generated $2,300/month in rent over the past 12 months and is perfect for tenants or an owner occupant strategy. Turnkey opportunity with strong cash-flow potential.

10. 2026-02-20
    listed $159,900 Active 528-char remark

    Show marketing remark (528 chars)

    Quick income producing duplex with recent updates and proven rental history! This property features a 3BR/1BA lower unit and a 2BR/1BA upper unit with an additional storage room along with 4 off street tandem parking spaces. Both units were renovated within the last two years including mechanicals reducing Short term capital expenses. The property consistently generated $2,300/month in rent over the past 12 months and is perfect for tenants or an owner occupant strategy. Turnkey opportunity with strong cash-flow potential.

11. 2024-12-19
    soldstatus $50,000 Sold 438-char remark

    Show marketing remark (438 chars)

    This 3/2 duplex is the perfect opportunity for an owner occupant or investor. With updates made this home just needs a little bit of love. Featuring LVP Flooring, new carpet, fresh paint, large windows enclosed front porch, and an upper unit balcony. Located near Milwaukee Public Library, Wisconsin Black Historical Society, Sherman Phoenix Marketplace, many schools and parks, and plenty of work opportunities. Schedule a showing today!

12. 2024-12-11
    historical Contingent 438-char remark

    Show marketing remark (438 chars)

    This 3/2 duplex is the perfect opportunity for an owner occupant or investor. With updates made this home just needs a little bit of love. Featuring LVP Flooring, new carpet, fresh paint, large windows enclosed front porch, and an upper unit balcony. Located near Milwaukee Public Library, Wisconsin Black Historical Society, Sherman Phoenix Marketplace, many schools and parks, and plenty of work opportunities. Schedule a showing today!

13. 2024-12-02
    price $69,900 438-char remark

    Show marketing remark (438 chars)

    This 3/2 duplex is the perfect opportunity for an owner occupant or investor. With updates made this home just needs a little bit of love. Featuring LVP Flooring, new carpet, fresh paint, large windows enclosed front porch, and an upper unit balcony. Located near Milwaukee Public Library, Wisconsin Black Historical Society, Sherman Phoenix Marketplace, many schools and parks, and plenty of work opportunities. Schedule a showing today!

14. 2024-10-30
    price $79,900 438-char remark

    Show marketing remark (438 chars)

    This 3/2 duplex is the perfect opportunity for an owner occupant or investor. With updates made this home just needs a little bit of love. Featuring LVP Flooring, new carpet, fresh paint, large windows enclosed front porch, and an upper unit balcony. Located near Milwaukee Public Library, Wisconsin Black Historical Society, Sherman Phoenix Marketplace, many schools and parks, and plenty of work opportunities. Schedule a showing today!

15. 2024-10-24
    price $89,900 438-char remark

    Show marketing remark (438 chars)

    This 3/2 duplex is the perfect opportunity for an owner occupant or investor. With updates made this home just needs a little bit of love. Featuring LVP Flooring, new carpet, fresh paint, large windows enclosed front porch, and an upper unit balcony. Located near Milwaukee Public Library, Wisconsin Black Historical Society, Sherman Phoenix Marketplace, many schools and parks, and plenty of work opportunities. Schedule a showing today!

16. 2024-10-03
    price $99,900 438-char remark

    Show marketing remark (438 chars)

    This 3/2 duplex is the perfect opportunity for an owner occupant or investor. With updates made this home just needs a little bit of love. Featuring LVP Flooring, new carpet, fresh paint, large windows enclosed front porch, and an upper unit balcony. Located near Milwaukee Public Library, Wisconsin Black Historical Society, Sherman Phoenix Marketplace, many schools and parks, and plenty of work opportunities. Schedule a showing today!

17. 2024-09-25
    listed $109,900 Active 438-char remark

    Show marketing remark (438 chars)

    This 3/2 duplex is the perfect opportunity for an owner occupant or investor. With updates made this home just needs a little bit of love. Featuring LVP Flooring, new carpet, fresh paint, large windows enclosed front porch, and an upper unit balcony. Located near Milwaukee Public Library, Wisconsin Black Historical Society, Sherman Phoenix Marketplace, many schools and parks, and plenty of work opportunities. Schedule a showing today!

18. 2023-11-03
    soldstatus $60,000 Sold
19. 2023-10-06
    status Pending
20. 2023-10-02
    price $68,900
21. 2023-10-02
    status Active
22. 2023-10-01
    historical
23. 2023-09-23
    status Active
24. 2023-09-22
    status Pending
25. 2023-08-28
    historical Contingent
26. 2023-08-25
    price $69,900
27. 2023-08-19
    price $73,800
28. 2023-08-16
    price $74,800
29. 2023-08-10
    price $74,900
30. 2023-08-04
    price $79,900
31. 2023-07-28
    price $84,900
32. 2023-07-24
    price $94,900
33. 2023-06-19
    status Active
34. 2023-06-16
    status Pending
35. 2023-06-02
    listed $99,900 Active

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

Taxation est. · year 1

• Rental income: $27,984
• − Mortgage interest: −$7,562
• − Property taxes: −$2,025
• − Insurance: −$675
• − Repairs & maintenance: −$2,239
• − Management: −$2,239
• − Depreciation: −$3,927
• Taxable income: $9,317
• Est. tax owed @ 24.0%: −$2,236
• After-tax cash flow: $8,676/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 multi-family property requires moderate rehabilitation to address exterior damage and improve curb appeal, but is currently move-in ready with recent updates.

Repairs flagged

• Major broken windows — Structural integrity compromised
• Major exterior paint — Peeling and deteriorating
• Major exterior siding — Visible damage and wear

Value-add opportunities

• Both exterior paint — Enhances curb appeal and value
• Both windows — Improves energy efficiency and safety
• Both exterior siding — Restores structural integrity and enhances curb appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
broken windows · Structural integrity compromised	Major	$15,000–50,000
exterior paint · Peeling and deteriorating	Major	$15,000–50,000
exterior siding · Visible damage and wear	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both exterior paint — Enhances curb appeal and value ↑
• Both windows — Improves energy efficiency and safety ↑
• Both exterior siding — Restores structural integrity and enhances curb 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): 19,887
• Household income: $29,336
• Rent vs Own: 67.8% rent · 32.2% own
• Severe rent burden: 2061.0

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 (91%)
• Race & ethnicity: Black 91% Two or more races 3% White 3% Hispanic / Latino 3%
• Common ancestry: Norwegian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 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: ▲ 133.03%
• Current HPI: 397.7151
• Rent YoY: ▲ 8.28%
• 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

+35.1% since first listed

29 events — show timeline

• 2026-05-11 Price Changed $135,000 METROMLS
• 2026-03-31 Price Changed $145,000 METROMLS
• 2026-03-10 Price Changed $150,000 METROMLS
• 2026-02-20 Listed $159,900 METROMLS
• 2024-12-19 Sold (MLS) $50,000 METROMLS
• 2024-12-11 Contingent — METROMLS
• 2024-12-02 Price Changed $69,900 METROMLS
• 2024-10-30 Price Changed $79,900 METROMLS
• 2024-10-24 Price Changed $89,900 METROMLS
• 2024-10-03 Price Changed $99,900 METROMLS
• 2024-09-25 Listed $109,900 METROMLS
• 2023-11-03 Sold (MLS) $60,000 METROMLS
• 2023-10-06 Pending — METROMLS
• 2023-10-02 Price Changed $68,900 METROMLS
• 2023-10-02 Relisted — METROMLS
• 2023-10-01 Listing Removed — METROMLS
• 2023-09-23 Relisted — METROMLS
• 2023-09-22 Pending — METROMLS
• 2023-08-28 Contingent — METROMLS
• 2023-08-25 Price Changed $69,900 METROMLS
• 2023-08-19 Price Changed $73,800 METROMLS
• 2023-08-16 Price Changed $74,800 METROMLS
• 2023-08-10 Price Changed $74,900 METROMLS
• 2023-08-04 Price Changed $79,900 METROMLS
• 2023-07-28 Price Changed $84,900 METROMLS
• 2023-07-24 Price Changed $94,900 METROMLS
• 2023-06-19 Relisted — METROMLS
• 2023-06-16 Pending — METROMLS
• 2023-06-02 Listed $99,900 METROMLS