611 E Chambers St #613 · Milwaukee, WI 53212

$269,900

4 bd · 2.0 ba · 2,319 sqft · MultiFamily · 33 Days on market

Built 1912 Fair condition 3,049 sqft lot Est $223k · 21% over

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Why this score? — see what drove the D- 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 +16.4/30.0
• DSCR +5.1/10.0
• 1% rule +4.5/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• 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

Charming River West investment opportunity: this duplex features a 3-bedroom upper unit and a 2-bedroom lower unit, with an attic that was formerly an apartment could become a 3rd unit. -- increasing income potential; there are three electric meters, a 3 yr old roof, some new windows, newer gutters, and a clean & dry block basement. Home features tons of kitchen cabinets & natural lighting. Both units have walk in pantries. Current rents are way below market, tenants may be vacating, The property is available for owner-occupancy or repositioning for higher rental income; The city will accept a rear parking slab that could accommodate 2-3 cars. Dogs are on the premises-- 24 hour

Key facts

• 3 yr old roof
• Newer gutters
• New windows

Tags

• INVESTMENT OPPORTUNITY
• THREE ELECTRIC METERS
• 3 YR OLD ROOF
• NEW WINDOWS
• NEWER GUTTERS
• CLEAN DRY BLOCK BASEMENT

Property features AI

Finance

• Other: Estimated unit size range: 1001–1250 sq. ft. (each unit listed at 1,250 sq. ft.); Inclusions: None; Exclusions: Tenants' personal property
• Financial info: Multi-family property with 2 units

Exterior

• Utilities: Municipal water; Municipal sewer; Two electric meters; Two gas meters
• Home design: Duplex, 2-story multi-family building; Zoning: RT4
• Construction: Exterior described as Other; Year built from assessor/public record
• Exterior features: Small lot (approximately 0.07 acres); Less than 1/2 acre

Interior

• Kitchen: Unit 2 kitchen on upper level (approx. 11 x 10)
• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 3 bedrooms (master and additional bedrooms on upper level; two bedrooms listed with 10 x 11 dimensions); Unit 2 bedroom dimensions include a 10 x 11 master and a 10 x 11 second bedroom
• Bathrooms: Unit 1: 1 full bathroom; Unit 2: 1 full bathroom
• Interior features: Full block basement

What this means for you Summary

Snapshot

• This is a 1×3bd/1ba + 1×2bd/1ba units multifamily listed at $270k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $151 ($2k/yr) — positive. Per door: $75/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $255k (5.4% below list).
• Recommended offer: $255k (5.4% below list) — sets the bar for 1% rule.
• Cap rate 7.0% 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; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 43% 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 $2,552/mo this rent would consume 65% 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 $8k 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.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($262k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $255,200 (5.4% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 5% 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 1912 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.95% ✗
• Cap rate: 6.96%
• Cash-on-cash: 2.40%
• DSCR: 1.11
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $222,624
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2812 N Fratney St #2814	0.24mi	4/2.0	2,314 (-0%)	2mo	$300,000	$130	87
2940 N Holton St #2942	0.09mi	4/2.0	2,032 (-12%)	0mo	$195,000	$96	75
2768 N Palmer St #2770	0.38mi	4/2.0	2,211 (-5%)	3mo	$174,415	$79	72
2813 N Humboldt Blvd #2815	0.35mi	4/2.0	2,152 (-7%)	2mo	$276,000	$128	70
2762 N Fratney St	0.29mi	4/2.5	2,522 (+9%)	1mo	$375,000	$149	69
2514 N Holton St #2516	0.59mi	4/2.0	2,246 (-3%)	1mo	$215,000	$96	66
3153 N Buffum St	0.27mi	5/2.0 (+1)	2,598 (+12%)	1mo	$63,200	$24	62
3341 N 3rd St #3343	0.72mi	4/2.0	2,292 (-1%)	4mo	$109,000	$48	61
220 E Clarke St	0.54mi	3/2.0 (-1)	2,077 (-10%)	3mo	$180,000	$87	50
137 W Hadley St #139	0.50mi	4/2.5	2,013 (-13%)	5mo	$138,000	$69	48
2438 N Pierce St	0.68mi	5/3.0 (+1)	2,032 (-12%)	1mo	$265,000	$130	38
2920 N Bartlett Ave	0.75mi	5/2.0 (+1)	1,978 (-15%)	6mo	$225,000	$114	30

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: -10.3%
• Equity multiple: 0.62×
• Total profit: $-28,851
• Equity at exit: $40,243

10-year hold

• IRR: 1.7%
• Equity multiple: 1.13×
• Total profit: $9,797
• Equity at exit: $23,336

Cash invested: $75,572 (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: 17.1×

Monthly cashflow live

• Estimated rent: $2,552 high
• Mortgage (P&I): −$1,415
• Tax est. 1.5%: −$337 /mo · $4,048/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$536
• Net cashflow: $151

Break-even live

Break-even rent $2,361

Max offer price $269,900

Occupancy floor 89%

Sensitivity live

Price	-10% $337	-5% $244	+0% $151	+5% $58	+10% $-36
Rent	-10% $-51	-5% $50	+0% $151	+5% $252	+10% $352
Rate	-1.0pp $287	-0.5pp $220	base $151	+0.5pp $81	+1.0pp $10

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,316
1× unit	2	1	$1,236
Total (2 units)			$2,552

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: $67,475
• Closing costs: $8,097
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3042 N Palmer St #5 Milwaukee, WI	3.0	1.0	1718	$1,050	$0.61	25d	1	0.27mi
2634 N Doctor M.L.K. Jr Dr Milwaukee, WI	5.0	2.5	2512	$3,700	$1.47	45d	1	0.67mi
400 E Meinecke Ave #402 Milwaukee, WI	3.0	1.0	1700	$1,800	$1.06	18d	1	0.75mi
3131 N Bartlett Ave Unit 1 Milwaukee, WI	4.0	1.0	1600	$1,750	$1.09	45d	1	0.75mi
3420 N Vel R. Phillips Ave Unit 3422 Milwaukee, WI	3.0	1.0	2756	$1,195	$0.43	45d	1	0.77mi
3420-22 N Vel R Phillips Ave Milwaukee, WI	3.0	1.0	2756	$1,195	$0.43	45d	1	0.78mi
1814 E Linnwood Ave Milwaukee, WI	4.0	2.0	1800	$3,100	$1.72	45d	1	0.84mi
1902 E Linnwood Ave Unit 1902 04 Milwaukee, WI	4.0	1.5	1599	$2,400	$1.50	18d	1	0.89mi
1902 E Linnwood Ave Unit 1902 05 Milwaukee, WI	4.0	1.5	1599	$2,400	$1.50	6d	1	0.89mi
2937 N Frederick Ave Milwaukee, WI	4.0	1.0	1700	$1,925	$1.13	6d	1	0.98mi
2974 N Frederick Ave Milwaukee, WI	4.0	2.0	1626	$2,600	$1.60	45d	1	1.02mi
2830 N Maryland Ave Unit 2828 Milwaukee, WI	3.0	1.0	1675	$1,995	$1.19	18d	1	1.10mi
2579 N Frederick Ave Milwaukee, WI	4.0	2.0	2400	$2,095	$0.87	6d	1	1.11mi
2012 N Buffum St Milwaukee, WI	3.0	2.5	2200	$2,695	$1.23	45d	1	1.13mi
2609 N Maryland Ave Milwaukee, WI	4.0	2.5	1700	$2,050	$1.21	6d	1	1.14mi
1014 E Land Pl Milwaukee, WI	3.0	2.0	1900	$2,000	$1.05	6d	1	1.25mi
922 E Hamilton St Unit Lower Milwaukee, WI	3.0	1.0	1900	$1,550	$0.82	25d	1	1.28mi
2511 N Prospect Ave Unit 2511 19 Milwaukee, WI	3.0	1.0	1658	$1,980	$1.19	18d	1	1.33mi
2745 N Downer Ave #2747 Milwaukee, WI	3.0	2.0	1800	$2,400	$1.33	12d	1	1.33mi
1703 N Astor St Milwaukee, WI	4.0	2.0	1800	$2,200	$1.22	45d	1	1.39mi
2245 N Lake Dr Unit 2247 Milwaukee, WI	3.0	1.0	2197	$2,495	$1.14	45d	1	1.48mi

Listing history 17 events

1. 2026-06-21
   days on market $269,900 Active 33 DOM
2. 2026-06-18
   days on market $269,900 Active 30 DOM
3. 2026-06-17
   days on market $269,900 Active 29 DOM
4. 2026-06-16
   days on market $269,900 Active 28 DOM
5. 2026-06-15
   days on market $269,900 Active 27 DOM
6. 2026-06-13
   days on market $269,900 Active 25 DOM
7. 2026-06-13
   days on market $269,900 Active 24 DOM
8. 2026-06-10
   price $269,900 Active 21 DOM
9. 2026-06-09
   days on market $279,900 Active 21 DOM
10. 2026-06-08
    days on market $279,900 Active 20 DOM
11. 2026-06-07
    days on market $279,900 Active 19 DOM
12. 2026-06-05
    days on market $279,900 Active 16 DOM
13. 2026-06-03
    days on market $279,900 Active 15 DOM
14. 2026-06-02
    days on market $279,900 Active 14 DOM
15. 2026-06-01
    days on market $279,900 Active 13 DOM
16. 2026-05-31
    days on market $279,900 Active 12 DOM
17. 2026-05-19
    listed $289,000 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: $30,624
• − Mortgage interest: −$15,119
• − Property taxes: −$4,048
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,450
• − Management: −$2,450
• − Depreciation: −$7,852
• Taxable loss: −$2,644
• Est. tax savings @ 24.0%: +$635
• After-tax cash flow: $2,445/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 property requires moderate renovations to improve its condition and increase its value. Key areas for improvement include HVAC, kitchen, bathrooms, exterior, flooring, interior walls, windows, and landscaping.

Repairs flagged

• Major HVAC unit — Dirty and in poor condition, likely not functioning properly.
• Minor Kitchen countertops — Cluttered with items, needs cleaning and organization.
• Minor Bathroom fixtures — Dated and worn, needs updating or replacement.
• Moderate Exterior siding — Weathered and needs repainting or replacement.
• Moderate Flooring — Worn and needs refinishing or replacement.
• Moderate Interior walls/paint — Average condition, could benefit from fresh paint and touch-ups.
• Moderate Windows — Average condition, could benefit from new or updated windows.
• Moderate Landscaping — Overgrown and debris present, needs trimming and cleaning up.

Value-add opportunities

• Both HVAC unit replacement — Improves comfort and energy efficiency, attracting more tenants.
• Both Kitchen renovation — Modernizes the kitchen, increasing both resale and rental value.
• Both Bathroom updates — Modernizes bathrooms, increasing both resale and rental value.
• Both Exterior painting and landscaping — Enhances curb appeal and property value, attracting more tenants and buyers.
• Both Flooring replacement — Improves living spaces, increasing both resale and rental value.
• Both Interior paint and touch-ups — Freshens up interior spaces, increasing both resale and rental value.
• Both New windows — Improves energy efficiency and curb appeal, increasing both resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
HVAC unit · Dirty and in poor condition, likely not functioning properly.	Major	$15,000–50,000
Kitchen countertops · Cluttered with items, needs cleaning and organization.	Minor	$500–3,000
Bathroom fixtures · Dated and worn, needs updating or replacement.	Minor	$500–3,000
Exterior siding · Weathered and needs repainting or replacement.	Moderate	$3,000–15,000
Flooring · Worn and needs refinishing or replacement.	Moderate	$3,000–15,000
Interior walls/paint · Average condition, could benefit from fresh paint and touch-ups.	Moderate	$3,000–15,000
Windows · Average condition, could benefit from new or updated windows.	Moderate	$3,000–15,000
Landscaping · Overgrown and debris present, needs trimming and cleaning up.	Moderate	$3,000–15,000
Total estimated repair cost · 8 items		$31,000–131,000

Value-add ROI direction

• Both HVAC unit replacement — Improves comfort and energy efficiency, attracting more tenants. ↑
• Both Kitchen renovation — Modernizes the kitchen, increasing both resale and rental value. ↑
• Both Bathroom updates — Modernizes bathrooms, increasing both resale and rental value. ↑
• Both Exterior painting and landscaping — Enhances curb appeal and property value, attracting more tenants and buyers. ↑
• Both Flooring replacement — Improves living spaces, increasing both resale and rental value. ↑
• Both Interior paint and touch-ups — Freshens up interior spaces, increasing both resale and rental value. ↑
• Both New windows — Improves energy efficiency and curb appeal, increasing both resale and rental 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

1 event — show timeline

• 2026-05-19 Listed $289,000 METROMLS