5274 N 84th St #5276 · Milwaukee, WI 53225

$209,900

6 bd · 2.0 ba · 2,068 sqft · MultiFamily · 25 Days on market

Built 1959 Fair condition 5,662 sqft lot Est $225k · 7% under

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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 +28.7/30.0
• ARV discount +10.6/15.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• Rent growth +4.3/5.0
• Livability +4.0/5.0
• Condition / age +2.2/5.0
• 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

3/3 Duplex in handy location features; newer roof, siding, windows and doors. Many interior upgrades.

Key facts

• Interior upgrades
• Newer roof
• Newer doors

Tags

• NEWER ROOF
• NEWER SIDING
• NEWER WINDOWS
• NEWER DOORS
• INTERIOR UPGRADES

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $210k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $698 ($8k/yr) — positive. Per door: $349/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $210k).
• Recommended offer: $207k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.3% 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 (+7.1%/yr); 45 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $2,720/mo this rent would consume 58% of the median local household income ($57k/yr) (locally 1391% 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 $6k 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 + 7.1% rent growth), your $59k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($207k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $206,751 (1.5% below list)

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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.30% ✓
• Cap rate: 10.28%
• Cash-on-cash: 14.26%
• DSCR: 1.63
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $225,412
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5066 N 84th St #5068	0.26mi	6/2.0	2,040 (-1%)	2mo	$225,000	$110	84
5164 N 84th St #5166	0.13mi	5/2.0 (-1)	2,040 (-1%)	9mo	$182,500	$89	79
5116 N 84th St #5118	0.20mi	6/2.0	2,040 (-1%)	12mo	$212,000	$104	79
5110 N 84th St #5112	0.21mi	6/2.0	2,040 (-1%)	12mo	$220,000	$108	78
7901 W Villard Ave #7903	0.31mi	6/2.0	2,040 (-1%)	18mo	$175,000	$86	68
5800 N 83rd St #5802	0.66mi	6/2.0	2,064 (-0%)	5mo	$225,000	$109	65
5044 N 84th St #5046	0.29mi	5/2.0 (-1)	2,040 (-1%)	18mo	$260,000	$127	65
8037 W Thurston Ave #8039	0.55mi	6/2.0	2,080 (+1%)	14mo	$290,000	$139	62
7822 W Villard Ave #7824	0.32mi	6/2.0	2,236 (+8%)	15mo	$165,000	$74	59
8654 W Medford Ave	0.65mi	5/2.0 (-1)	1,875 (-9%)	11mo	$210,000	$112	40
5714 N 87th St #5716	0.61mi	5/2.0 (-1)	1,889 (-9%)	16mo	$205,000	$109	39
5683 N 90th St #5685	0.71mi	6/3.0	2,352 (+14%)	3mo	$197,000	$84	37

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 · 7.14% rent growth · sell at horizon

5-year hold

• IRR: 9.2%
• Equity multiple: 1.38×
• Total profit: $22,301
• Equity at exit: $31,297

10-year hold

• IRR: 21.6%
• Equity multiple: 3.21×
• Total profit: $129,599
• Equity at exit: $18,148

Cash invested: $58,772 (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 53225

• Home prices YoY: -21.1%
• Rents YoY: 7.1%
• Active inventory: 45
• Price-to-rent: 12.9×

Monthly cashflow live

• Estimated rent: $2,720 high
• Mortgage (P&I): −$1,101
• Tax est. 1.5%: −$262 /mo · $3,148/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$571
• Net cashflow: $698

Break-even live

Break-even rent $1,836

Max offer price $209,900

Occupancy floor 69%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,720
Total (2 units)			$2,720

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: $52,475
• Closing costs: $6,297
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5268 N 64th St Milwaukee, WI	5.0	1.0	1672	$1,850	$1.11	10d	1	1.22mi

Listing history 3 events

1. 2026-04-24
   status Pending
2. 2026-04-02
   historical Contingent
3. 2026-03-30
   listed $209,900 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 ≥100°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: $32,640
• − Mortgage interest: −$11,758
• − Property taxes: −$3,148
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,611
• − Management: −$2,611
• − Depreciation: −$6,106
• Taxable income: $5,356
• Est. tax owed @ 24.0%: −$1,285
• After-tax cash flow: $7,093/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 · 2 photos

Fair 45/100 Moderate rehab

This multi-family property requires extensive repairs and maintenance, including roof, exterior, and window repairs, as well as landscaping improvements. Addressing these issues will significantly increase its value for resale or rental.

Repairs flagged

• Major roof — Significant damage and potential leaks are visible in the independent image.
• Major exterior siding — Peeling paint and siding damage are evident in the independent image.
• Major windows — Some windows show visible damage and potential leaks in the independent image.
• Major landscaping — The lack of landscaping and curb appeal in the independent image indicates a need for improvement.
• Major paint — Peeling paint and siding damage are evident in the independent image, indicating a need for repainting and repairs.

Value-add opportunities

• Both roof repair — Repairing the roof will address a major issue and improve both the resale and rental value.
• Both exterior painting and repairs — Repainting and repairing the exterior will enhance curb appeal and improve the home's overall condition.
• Both landscaping — Landscaping will improve curb appeal and enhance the home's overall condition, benefiting both resale and rental value.
• Both window repairs — Repairing damaged windows will address a major issue and improve both the resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Significant damage and potential leaks are visible in the independent image.	Major	$15,000–50,000
exterior siding · Peeling paint and siding damage are evident in the independent image.	Major	$15,000–50,000
windows · Some windows show visible damage and potential leaks in the independent image.	Major	$15,000–50,000
landscaping · The lack of landscaping and curb appeal in the independent image indicates a need for improvement.	Major	$15,000–50,000
paint · Peeling paint and siding damage are evident in the independent image, indicating a need for repainting and repairs.	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both roof repair — Repairing the roof will address a major issue and improve both the resale and rental value. ↑
• Both exterior painting and repairs — Repainting and repairing the exterior will enhance curb appeal and improve the home's overall condition. ↑
• Both landscaping — Landscaping will improve curb appeal and enhance the home's overall condition, benefiting both resale and rental value. ↑
• Both window repairs — Repairing damaged windows will address a major issue and improve both the 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): 25,187
• Household income: $56,545
• Rent vs Own: 60.1% rent · 39.9% own
• Severe rent burden: 1391.0

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 0.59)
• Race & ethnicity: Black 58% White 26% Two or more races 7% Asian 6% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 2% Lithuanian 2% Iranian 1%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 89% English-only · Other Asian/Pacific 4% Spanish 3% Other Indo-European 1%

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: ▼ -70.59%
• Current HPI: 264.1941
• Rent YoY: ▲ 7.14%
• 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

3 events — show timeline

• 2026-04-24 Pending — METROMLS
• 2026-04-02 Contingent — METROMLS
• 2026-03-30 Listed $209,900 METROMLS