2661 N 44th St · Milwaukee, WI 53210

$169,900

4 bd · 2.0 ba · 1,806 sqft · MultiFamily public records · 223 Days on market

Built 1921 4,791 sqft lot $94/sqft · 19% above area Est $142k · 19% 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 +27.1/30.0
• DSCR +9.4/10.0
• 1% rule +7.3/10.0
• Livability +4.0/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• 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 MLS

Welcome home! What a stunning 2/2 duplex located in Uptown that has been renovated from top to bottom. This home features LVP flooring, gorgeous kitchens and bathrooms in both units, arched doorways that add a cozy touch, large new windows, a clean basement, and ample backyard space. The lower unit is currently vacant and ready for an owner-occupant or new tenant, while the upper unit is rented for $995 per month on an annual lease, providing steady income. Conveniently located just steps from Washington High School, St. Joseph's Hospital, American Family Field, and many local restaurants and businesses. Easy access to Stadium Freeway makes traveling to Downtown Milwaukee or nearby suburbs a breeze. Don't miss out--schedule your showing today!

Key facts

• Renovated duplex
• Large new windows
• Arched doorways

Tags

• RENOVATED DUPLEX
• LVP FLOORING
• ARCHED DOORWAYS
• LARGE NEW WINDOWS
• CLEAN BASEMENT
• AMPLE BACKYARD SPACE

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $170k.

Deal economics

• At list price, monthly cash flow is $482 ($6k/yr) — positive. Per door: $241/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $150k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.7% 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 (+3.8%/yr); 142 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $2,097/mo this rent would consume 52% of the median local household income ($48k/yr) (locally 1730% 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 $5k 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 + 3.8% rent growth), your $48k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 223 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 2y 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 $99k; list at $170k implies a 72% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1921 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $149,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 223 days. Have you received any prior offers? Is the seller open to a 12% 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 1921 — 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: 1.23% ✓
• Cap rate: 9.70%
• Cash-on-cash: 12.16%
• DSCR: 1.54
• GRM: 6.8

CMA / ARV

• ARV (median comp): $142,197
• List price: $169,900
• Delta: 19.48%
• 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
2616 N 38th St	0.43mi	4/2.0	1,887 (+4%)	2mo	$117,500	$62	71
4324 W Lisbon Ave	0.62mi	3/2.0 (-1)	1,777 (-2%)	0mo	$36,000	$20	63
3024 N 44th St	0.45mi	4/2.0	1,998 (+11%)	1mo	$120,775	$60	60
2639 N 55th St	0.68mi	4/2.0	1,877 (+4%)	2mo	$120,000	$64	60
2873 N 34th St #2875	0.69mi	4/2.0	1,888 (+4%)	1mo	$108,500	$57	59
2149 N 41st St	0.65mi	4/2.0	1,931 (+7%)	1mo	$33,000	$17	58
2760 N 35th St Unit 2760A	0.62mi	5/2.0 (+1)	1,897 (+5%)	2mo	$107,500	$57	56
2726 N 56th St Unit 2726A	0.71mi	4/2.0	1,934 (+7%)	3mo	$155,000	$80	52
2400 N 35th St #2402	0.68mi	5/2.0 (+1)	1,994 (+10%)	1mo	$65,000	$33	45
3148 N 39th St #3150	0.72mi	4/2.0	2,044 (+13%)	2mo	$128,888	$63	43
3166 N 39th St #3168	0.74mi	4/2.0	2,064 (+14%)	2mo	$145,000	$70	40
2851 N 55th St Unit 2851A	0.71mi	4/2.0	2,067 (+14%)	3mo	$165,000	$80	40

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 · 3.82% rent growth · sell at horizon

5-year hold

• IRR: 2.7%
• Equity multiple: 1.10×
• Total profit: $4,953
• Equity at exit: $25,333

10-year hold

• IRR: 13.0%
• Equity multiple: 2.08×
• Total profit: $51,262
• Equity at exit: $14,690

Cash invested: $47,572 (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 53210

• Home prices YoY: -21.5%
• Rents YoY: 3.8%
• Active inventory: 142
• Price-to-rent: 13.5×

Monthly cashflow live

• Estimated rent: $2,097 high
• Mortgage (P&I): −$891
• Tax from tax record: −$213 /mo · $2,553/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$440
• Net cashflow: $482

Break-even live

Break-even rent $1,487

Max offer price $169,900

Occupancy floor 72%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,096
Total (2 units)			$2,097

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2713 N 44th St Milwaukee, WI	3.0	1.0	1450	$1,350	$0.93	43d	1	0.09mi
2629 N 50th St Unit Upper Milwaukee, WI	3.0	1.0	1258	$1,375	$1.09	2d	1	0.38mi
2409 N 49th St Milwaukee, WI	3.0	1.0	1335	$1,248	$0.93	43d	1	0.44mi
2438 N 51st St Unit 2 Milwaukee, WI	3.0	1.0	1300	$1,650	$1.27	23d	1	0.49mi
2976 N 49th St Milwaukee, WI	3.0	1.0	1700	$1,300	$0.76	16d	1	0.52mi
3123 N 42nd St Milwaukee, WI	4.0	1.0	1500	$1,700	$1.13	23d	1	0.62mi
3122 N 42nd St Milwaukee, WI	3.0	1.0	1323	$1,495	$1.13	4d	1	0.63mi
2137 N 47th St Milwaukee, WI	5.0	2.0	1723	$1,850	$1.07	14d	1	0.65mi
2001 N 38th St #2003 Milwaukee, WI	3.0	1.0	1326	$950	$0.72	1d	1	0.81mi
3155 N 52nd St Milwaukee, WI	3.0	2.0	1300	$1,400	$1.08	43d	1	0.83mi
2809 W Clarke St Unit 12811 Milwaukee, WI	3.0	1.0	1400	$1,200	$0.86	16d	1	1.01mi
2870 N 29th St #2872 Milwaukee, WI	3.0	1.0	1300	$1,250	$0.96	43d	1	1.03mi
2432 N 28th St Milwaukee, WI	5.0	1.5	1876	$1,600	$0.85	43d	1	1.07mi
1639 N 33rd St Milwaukee, WI	3.0	1.0	1424	$950	$0.67	23d	1	1.22mi
2704 W Concordia Ave Unit Na Milwaukee, WI	5.0	2.0	1856	$2,500	$1.35	23d	1	1.38mi
2308 W Clarke St Milwaukee, WI	4.0	2.0	1545	$1,750	$1.13	23d	1	1.39mi

Listing history 44 events

1. 2026-06-18
   days on market $169,900 Active 223 DOM
2. 2026-06-17
   days on market $169,900 Active 222 DOM
3. 2026-06-16
   days on market $169,900 Active 221 DOM
4. 2026-06-15
   days on market $169,900 Active 220 DOM
5. 2026-06-13
   days on market $169,900 Active 218 DOM
6. 2026-06-13
   days on market $169,900 Active 217 DOM
7. 2026-06-09
   days on market $169,900 Active 214 DOM
8. 2026-06-08
   days on market $169,900 Active 213 DOM
9. 2026-06-07
   days on market $169,900 Active 212 DOM
10. 2026-06-05
    days on market $169,900 Active 209 DOM
11. 2026-06-03
    days on market $169,900 Active 208 DOM
12. 2026-06-02
    days on market $169,900 Active 207 DOM
13. 2026-06-01
    days on market $169,900 Active 206 DOM
14. 2026-05-31
    days on market $169,900 Active 205 DOM
15. 2025-11-07
    listed $169,900 Active 753-char remark

    Show marketing remark (753 chars)

    Welcome home! What a stunning 2/2 duplex located in Uptown that has been renovated from top to bottom. This home features LVP flooring, gorgeous kitchens and bathrooms in both units, arched doorways that add a cozy touch, large new windows, a clean basement, and ample backyard space. The lower unit is currently vacant and ready for an owner-occupant or new tenant, while the upper unit is rented for $995 per month on an annual lease, providing steady income. Conveniently located just steps from Washington High School, St. Joseph's Hospital, American Family Field, and many local restaurants and businesses. Easy access to Stadium Freeway makes traveling to Downtown Milwaukee or nearby suburbs a breeze. Don't miss out--schedule your showing today!

16. 2025-07-14
    historical $895
17. 2025-03-15
    listed $895
18. 2025-03-15
    historical $895
19. 2025-02-23
    listed $895
20. 2025-02-23
    historical $895
21. 2025-01-25
    historical $895
22. 2025-01-25
    listed $895
23. 2025-01-23
    historical $895
24. 2025-01-23
    listed $895
25. 2025-01-18
    listed $895
26. 2025-01-18
    historical $895
27. 2025-01-13
    historical $895
28. 2025-01-13
    listed $895
29. 2025-01-08
    listed $895
30. 2025-01-08
    historical $895
31. 2025-01-03
    listed $895
32. 2025-01-03
    historical $895
33. 2024-12-29
    listed $895
34. 2024-12-29
    historical $895
35. 2024-12-24
    historical $895
36. 2024-12-24
    listed $895
37. 2024-12-20
    historical $895
38. 2024-12-20
    listed $895
39. 2024-12-16
    listed $895
40. 2024-12-16
    historical $895
41. 2024-12-11
    listed $895
42. 2006-05-15
    soldstatus $99,000
43. 1996-06-21
    soldstatus $27,000
44. 1996-06-01
    soldstatus $27,000

ⓘ 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: $2,553 · $213/mo
• Projected year-2 tax: $2,848 · $237/mo
• Expected delta: +$295/yr (+$25/mo · 11.6%)

ⓘ 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,164
• − Mortgage interest: −$9,517
• − Property taxes: −$2,553
• − Insurance: −$850
• − Repairs & maintenance: −$2,013
• − Management: −$2,013
• − Depreciation: −$4,943
• Taxable income: $3,276
• Est. tax owed @ 24.0%: −$786
• After-tax cash flow: $4,999/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): 23,922
• Household income: $48,217
• Rent vs Own: 60.4% rent · 39.6% own
• Severe rent burden: 1730.0

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 (71%)
• Race & ethnicity: Black 71% White 17% Hispanic / Latino 6% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Romanian 2% Portuguese 1% Italian 1%
• Foreign-born: 3% · Canada, Philippines
• Languages at home: 94% English-only · Spanish 3% 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: ▼ -76.77%
• Current HPI: 280.0133
• Rent YoY: ▲ 3.82%
• 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

+529.3% since first listed

30 events — show timeline

• 2025-11-07 Listed $169,900 METROMLS
• 2025-07-14 Rental Removed $895 LEASESTAR
• 2025-03-15 Listed for Rent $895 LEASESTAR
• 2025-03-15 Rental Removed $895 REALLYO
• 2025-02-23 Listed for Rent $895 REALLYO
• 2025-02-23 Rental Removed $895 REALLYO
• 2025-01-25 Rental Removed $895 REALLYO
• 2025-01-25 Listed for Rent $895 REALLYO
• 2025-01-23 Rental Removed $895 REALLYO
• 2025-01-23 Listed for Rent $895 REALLYO
• 2025-01-18 Listed for Rent $895 REALLYO
• 2025-01-18 Rental Removed $895 REALLYO
• 2025-01-13 Rental Removed $895 REALLYO
• 2025-01-13 Listed for Rent $895 REALLYO
• 2025-01-08 Listed for Rent $895 REALLYO
• 2025-01-08 Rental Removed $895 REALLYO
• 2025-01-03 Listed for Rent $895 REALLYO
• 2025-01-03 Rental Removed $895 REALLYO
• 2024-12-29 Listed for Rent $895 REALLYO
• 2024-12-29 Rental Removed $895 REALLYO
• 2024-12-24 Rental Removed $895 REALLYO
• 2024-12-24 Listed for Rent $895 REALLYO
• 2024-12-20 Rental Removed $895 REALLYO
• 2024-12-20 Listed for Rent $895 REALLYO
• 2024-12-16 Listed for Rent $895 REALLYO
• 2024-12-16 Rental Removed $895 REALLYO
• 2024-12-11 Listed for Rent $895 REALLYO
• 2006-05-15 Sold (Public Records) $99,000 Public Records
• 1996-06-21 Sold (Public Records) $27,000 Public Records
• 1996-06-01 Sold (Public Records) $27,000 Public Records

Property tax history

+4.1%/yr

Latest (2024): $2,553 · +44.0% YoY. Source: county tax records.