5641 N 61st St #5643 · Milwaukee, WI 53218

$164,900

4 bd · 3.0 ba · 1,536 sqft · MultiFamily · 97 Days on market

Built 1954 Fair condition 5,227 sqft lot $107/sqft · at area comps Est $170k · at est.

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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
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• ARV discount +8.7/15.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• 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 MLS

Great investment opportunity in Milwaukee! This duplex features two 2-bedroom, 1-bath units, making it a perfect addition to any investor's portfolio. Each unit offers comfortable living space with strong rental potential. Ideal for owner-occupants looking to offset their mortgage or investors seeking steady income when both units rented. Convenient location with easy access to local amenities, shopping, and transportation. Don't miss this chance to own a solid income-producing property!

Key facts

• Convenient location
• 5,227 sq ft lot
• Garage

Tags

• INVESTMENT OPPORTUNITY
• STRONG RENTAL POTENTIAL
• CONVENIENT LOCATION
• EASY ACCESS TO LOCAL AMENITIES
• INCOME PRODUCING PROPERTY

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $165k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $801 ($10k/yr) — positive. Per door: $400/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $150k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.1% 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 (+5.3%/yr); 153 active listings in the ZIP; 13 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 $2,456/mo this rent would consume 65% of the median local household income ($46k/yr) (locally 2421% 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 + 5.3% rent growth), your $46k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 14y 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 $23k; list at $165k implies a 617% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $150,059 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 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 1954 — 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: 1.49% ✓
• Cap rate: 12.12%
• Cash-on-cash: 20.81%
• DSCR: 1.93
• GRM: 5.6

CMA / ARV

• ARV (median comp): $169,599
• List price: $164,900
• Delta: -2.77%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6600 W Carmen Ave #6602	0.36mi	4/2.0	1,536 (0%)	14mo	$150,000	$98	68
5908 N 65th St #5910	0.39mi	4/2.0	1,536 (0%)	21mo	$155,000	$101	60

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 · 5.29% rent growth · sell at horizon

5-year hold

• IRR: 15.8%
• Equity multiple: 1.65×
• Total profit: $30,098
• Equity at exit: $24,587

10-year hold

• IRR: 26.0%
• Equity multiple: 3.53×
• Total profit: $116,914
• Equity at exit: $14,258

Cash invested: $46,172 (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 53218

• Home prices YoY: -19.0%
• Rents YoY: 5.3%
• Active inventory: 153
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $2,456 high
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,474/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$516
• Net cashflow: $801

Break-even live

Break-even rent $1,443

Max offer price $164,900

Occupancy floor 62%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,456
Total (2 units)			$2,456

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6046 N 61st St Unit 1 Milwaukee, WI	3.0	1.0	1200	$1,345	$1.12	23d	1	0.47mi
6046 N 61st St Unit 2 Milwaukee, WI	3.0	1.0	1250	$1,395	$1.12	43d	1	0.47mi
5268 N 64th St Milwaukee, WI	5.0	1.0	1672	$1,850	$1.11	10d	1	0.53mi
6921 W Herbert Ave Milwaukee, WI	3.0	2.0	1414	$1,620	$1.15	4d	1	0.60mi
4900 N 58th St Milwaukee, WI	3.0	1.0	1455	$1,450	$1.00	4d	1	1.01mi
6919-6921 W Brentwood Ave Unit 6919 Milwaukee, WI	3.0	1.5	1200	$1,699	$1.42	4d	1	1.07mi
5073 N 48th St Milwaukee, WI	4.0	1.0	1152	$1,595	$1.38	14d	1	1.08mi
5955 N 79th St Unit 1 Milwaukee, WI	3.0	1.0	1100	$1,650	$1.50	43d	1	1.17mi
5908 N 80th St Milwaukee, WI	3.0	1.0	1056	$1,550	$1.47	23d	1	1.18mi
6813 W Hampton Ave Unit Rear (Unit B) Milwaukee, WI	3.0	2.0	1600	$1,350	$0.84	23d	1	1.22mi
4340 W Eggert Pl Milwaukee, WI	4.0	1.0	1066	$1,695	$1.59	23d	1	1.23mi
4334 W Eggert Pl Milwaukee, WI	4.0	1.0	1077	$1,695	$1.57	23d	1	1.24mi
3931 W Kaul Ave Milwaukee, WI	3.0	1.0	1400	$1,695	$1.21	43d	1	1.42mi

Listing history 32 events

1. 2026-06-18
   days on market $164,900 Active 97 DOM
2. 2026-06-17
   days on market $164,900 Active 96 DOM
3. 2026-06-16
   days on market $164,900 Active 95 DOM
4. 2026-06-15
   days on market $164,900 Active 94 DOM
5. 2026-06-13
   days on market $164,900 Active 92 DOM
6. 2026-06-13
   days on market $164,900 Active 91 DOM
7. 2026-06-09
   days on market $164,900 Active 88 DOM
8. 2026-06-08
   days on market $164,900 Active 87 DOM
9. 2026-06-07
   days on market $164,900 Active 86 DOM
10. 2026-06-05
    days on market $164,900 Active 83 DOM
11. 2026-06-03
    days on market $164,900 Active 82 DOM
12. 2026-06-02
    days on market $164,900 Active 81 DOM
13. 2026-06-01
    days on market $164,900 Active 80 DOM
14. 2026-05-31
    days on market $164,900 Active 79 DOM
15. 2026-03-13
    listed $164,900 Active 492-char remark

    Show marketing remark (492 chars)

    Great investment opportunity in Milwaukee! This duplex features two 2-bedroom, 1-bath units, making it a perfect addition to any investor's portfolio. Each unit offers comfortable living space with strong rental potential. Ideal for owner-occupants looking to offset their mortgage or investors seeking steady income when both units rented. Convenient location with easy access to local amenities, shopping, and transportation. Don't miss this chance to own a solid income-producing property!

16. 2025-11-20
    historical $850
17. 2025-10-10
    listed $850
18. 2025-01-09
    historical $900
19. 2024-11-09
    listed $900
20. 2023-03-26
    status Pending 114-char remark

    Show marketing remark (114 chars)

    This duplex is fully vacant looking for the right investor to see the potential. This is been sold AS IS CONDITION

21. 2023-03-25
    historical 114-char remark

    Show marketing remark (114 chars)

    This duplex is fully vacant looking for the right investor to see the potential. This is been sold AS IS CONDITION

22. 2023-03-15
    listed $120,000 Active 114-char remark

    Show marketing remark (114 chars)

    This duplex is fully vacant looking for the right investor to see the potential. This is been sold AS IS CONDITION

23. 2012-10-10
    listed $132,000
24. 2012-10-10
    historical
25. 2012-10-10
    listed $32,000
26. 2012-10-10
    historical
27. 2012-10-10
    listed $14,000
28. 2012-10-10
    historical
29. 2012-01-21
    historical
30. 2012-01-21
    listed $39,000
31. 2012-01-20
    soldstatus $23,000
32. 2011-05-24
    soldstatus $9,500

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 72% 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: $29,472
• − Mortgage interest: −$9,237
• − Property taxes: −$2,474
• − Insurance: −$824
• − Repairs & maintenance: −$2,358
• − Management: −$2,358
• − Depreciation: −$4,797
• Taxable income: $7,424
• Est. tax owed @ 24.0%: −$1,782
• After-tax cash flow: $7,826/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 · 10 photos

Fair 45/100 Moderate rehab

This two-unit property requires moderate renovations to improve its curb appeal and interior aesthetics, increasing its resale and rental value.

Repairs flagged

• Minor exterior siding — some discoloration
• Minor interior paint — some discoloration
• Minor landscaping — some overgrown areas

Value-add opportunities

• Both paint interior and exterior — enhances curb appeal and interior aesthetics
• Both landscaping — improves curb appeal and enhances property value
• Both replace carpet with hardwood or tile — increases both resale and rental value
• Both update kitchen and bathrooms — modernizes the property and enhances both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · some discoloration	Minor	$500–3,000
interior paint · some discoloration	Minor	$500–3,000
landscaping · some overgrown areas	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both paint interior and exterior — enhances curb appeal and interior aesthetics ↑
• Both landscaping — improves curb appeal and enhances property value ↑
• Both replace carpet with hardwood or tile — increases both resale and rental value ↑
• Both update kitchen and bathrooms — modernizes the property and enhances 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): 41,196
• Household income: $45,642
• Rent vs Own: 57.1% rent · 42.9% own
• Severe rent burden: 2421.0

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 (72%)
• Race & ethnicity: Black 72% Asian 10% White 10% Hispanic / Latino 5% Two or more races 3%
• Common ancestry: Romanian 1% Lithuanian 1%
• Foreign-born: 6% · Philippines, Canada
• Languages at home: 89% English-only · Other Asian/Pacific 7% Spanish 3%

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: ▼ -76.44%
• Current HPI: 325.1975
• Rent YoY: ▲ 5.29%
• 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

+1635.8% since first listed

18 events — show timeline

• 2026-03-13 Listed $164,900 METROMLS
• 2025-11-20 Rental Removed $850 APPFOLIO
• 2025-10-10 Listed for Rent $850 APPFOLIO
• 2025-01-09 Rental Removed $900 APPFOLIO
• 2024-11-09 Listed for Rent $900 APPFOLIO
• 2023-03-26 Pending — METROMLS
• 2023-03-25 Listing Removed — METROMLS
• 2023-03-15 Listed $120,000 METROMLS
• 2012-10-10 Listing Removed — METROMLS
• 2012-10-10 Listed $132,000 METROMLS
• 2012-10-10 Listing Removed — METROMLS
• 2012-10-10 Listed $32,000 METROMLS
• 2012-10-10 Listing Removed — METROMLS
• 2012-10-10 Listed $14,000 METROMLS
• 2012-01-21 Listed $39,000 METROMLS
• 2012-01-21 Listing Removed — METROMLS
• 2012-01-20 Sold (MLS) $23,000 METROMLS
• 2011-05-24 Sold (MLS) $9,500 METROMLS