1945 S 68th St #1947 · West Allis, WI 53219

$259,000

6 bd · 4.0 ba · 1,525 sqft · MultiFamily · 3 Days on market

Built 1926 3,484 sqft lot Est $284k · 9% under

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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 +25.4/30.0
• ARV discount +11.4/15.0
• DSCR +8.4/10.0
• 1% rule +6.7/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• 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

Back on the market, Don't miss your second chance! Motivated Seller. West Allis duplex ready to produce some cash flow w/ HUGE ROI potential! Property sold in ''As is'' condition. Seller makes no warranties or representations regarding property conditions & buyer accepts property as seen. Both furnaces replaced in 2007, lower water heater 2010 & upper water heater 2024. The spacious basement provides plenty of extra storage and laundry hookups. Both units are occupied.

Key facts

• Near shopping
• Near restaurants
• Spacious units

Tags

• STRONG RENTAL HISTORY
• SPACIOUS UNITS
• CLASSIC 1920S CHARACTER
• WEST ALLIS LOCATION
• NEAR SHOPPING
• NEAR RESTAURANTS

Property features AI

Finance

• Other: Two units in building; Unit 1 approximately 900 square feet; Unit 2 approximately 625 square feet; Inclusions: 2 refrigerators, 2 stoves/ranges, washer and dryer; Exclusions: Sellers' and tenants' personal property

Exterior

• Parking: Detached 2-car garage with opener; Total of 2 garage parking spaces
• Utilities: Municipal water; Municipal sewer; 2 electric meters; 2 gas meters
• Home design: 2-story duplex; Multi-family property
• Construction: Masonite/pressboard exterior construction; Year built: public/assessor record
• Exterior features: Masonite/pressboard exterior; Lot under 1/2 acre (approximately 0.08 acre); Zoned RB-2

Interior

• Kitchen: Each unit includes a kitchen; Includes 2 stoves/ranges and 2 refrigerators
• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 1 bedroom (upper level)
• Bathrooms: Unit 1: 1 full bathroom; Unit 2: 1 full bathroom
• Interior features: Full block basement
• Laundry & utility: Washer and dryer included; 2 electric meters; 2 gas meters

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $259k.

Deal economics

• At list price, monthly cash flow is $599 ($7k/yr) — positive. Per door: $300/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $259k).
• Cap rate 9.1% vs local median 4.3% in West Allis — 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 79/100 on livability (#69 in WI, #1,958 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities F.
• West Allis-West Milwaukee School District (urban): math 17% / reading 26% proficiency, ranked #328 of 342 in WI (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Jefferson Elementary (math 17% / reading 27%, grade F, #823 of 1,041 statewide, top 82%, 412 students, 70% FRL) — zoned schools average 70% FRL vs 48% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.1%/yr); 55 active listings in the ZIP; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $3,024/mo this rent would consume 52% of the median local household income ($70k/yr) (locally 902% 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.
• At projected returns (-3.0% appreciation + 5.1% rent growth), your $73k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 8y 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 $125k; list at $259k implies a 107% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $259,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.17% ✓
• Cap rate: 9.07%
• Cash-on-cash: 9.91%
• DSCR: 1.44
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $283,650
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1813 S 60th St #1815	0.54mi	6/2.0	1,553 (+2%)	2mo	$275,000	$177	62
2172 S 61st St #2174	0.56mi	5/2.0 (-1)	1,620 (+6%)	14mo	$302,000	$186	39

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 · 5.09% rent growth · sell at horizon

5-year hold

• IRR: 1.0%
• Equity multiple: 1.04×
• Total profit: $2,723
• Equity at exit: $38,618

10-year hold

• IRR: 12.6%
• Equity multiple: 2.10×
• Total profit: $79,489
• Equity at exit: $22,394

Cash invested: $72,520 (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 53219

• Home prices YoY: -29.8%
• Rents YoY: 5.1%
• Active inventory: 55
• Price-to-rent: 14.3×

Monthly cashflow live

• Estimated rent: $3,024 high
• Mortgage (P&I): −$1,358
• Tax est. 1.5%: −$324 /mo · $3,885/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$635
• Net cashflow: $599

Break-even live

Break-even rent $2,266

Max offer price $259,000

Occupancy floor 75%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,024
Total (2 units)			$3,024

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: $64,750
• Closing costs: $7,770
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-16
   remarks 351-char remark
2. 2026-06-16
   listed $259,000 Pending 3 DOM

ⓘ 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 ≥99°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,288
• − Mortgage interest: −$14,508
• − Property taxes: −$3,885
• − Insurance: −$1,295
• − Repairs & maintenance: −$2,903
• − Management: −$2,903
• − Depreciation: −$7,535
• Taxable income: $3,259
• Est. tax owed @ 24.0%: −$782
• After-tax cash flow: $6,407/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: West Allis-West Milwaukee School District
• NCES district ID: 5516260
• Math proficiency: 17% ▼ -16.00%
• Reading proficiency: 26% ▼ -12.00%
• Median HH income: $45,620
• Composite: 18.71/100
• National rank: #8881
• State rank: #328 of 342 in WI

Livability — West Allis

• Score: 79/100
• State rank: #69
• US rank: #1958

Category grades

Amenities F Commute A+ Cost of living A+ Crime C+ Employment C+ Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Allis, WI
• County: Milwaukee County · 926,379 people
• City population: 57,365
• Metro: Milwaukee-Waukesha, WI
• Population (ZIP): 34,764
• Household income: $70,388
• Rent vs Own: 37.7% rent · 62.3% own
• Severe rent burden: 902.0

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 0.56)
• Race & ethnicity: White 59% Hispanic / Latino 31% Two or more races 16% Black 5% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 22% Puerto Rican 7%
• Common ancestry: Romanian 12% Portuguese 3% Lithuanian 3%
• Foreign-born: 10% · Canada, Philippines, China
• Languages at home: 77% English-only · Spanish 19% 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: ▼ -118.46%
• Current HPI: 278.8314
• Rent YoY: ▲ 5.09%
• 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

+107.2% since first listed

12 events — show timeline

• 2026-06-15 Pending — METROMLS
• 2026-06-12 Listed $259,000 METROMLS
• 2025-12-07 Listing Removed — METROMLS
• 2025-08-29 Price Changed $269,900 METROMLS
• 2025-08-09 Price Changed $274,900 METROMLS
• 2025-07-22 Relisted — METROMLS
• 2025-07-03 Listing Removed — METROMLS
• 2025-06-09 Contingent — METROMLS
• 2025-06-06 Listed $279,900 METROMLS
• 2018-03-28 Sold (MLS) $125,000 METROMLS
• 2018-03-23 Contingent — METROMLS
• 2018-02-13 Listed $125,000 METROMLS