6011 W Port Ave Unit 205K · Milwaukee, WI 53223

$59,900

1 bd · 1.0 ba · 729 sqft · Condo · 31 Days on market

Built 1972 $300/mo HOA · 27% of rent

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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 +26.9/30.0
• 1% rule +10.0/10.0
• DSCR +9.3/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nicely updated 1 bed 1 bath corner unit condo with one private 1 car garage w new garage door and one surface parking space. Unit has newer light fixtures, paint, and flooring. Lots of closet space, a fireplace, and a balcony w sliding door for plenty of natural light. Shared green space and swimming pool on the property. Storage locker and coin operated laundry in basement. Own for less than rent, come take a look! Currently tenant occupied with tenant paying $1,000/month. Can be sold on its own or as a discounted package w MLS #1962975 (3956 60th MLS #1962975).

Key facts

• Shared green space
• Private garage
• Swimming pool

Tags

• CORNER UNIT
• PRIVATE GARAGE
• NEW GARAGE DOOR
• SHARED GREEN SPACE
• SWIMMING POOL
• STORAGE LOCKER

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $60k.

Deal economics

• At list price, monthly cash flow is $166 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.6% 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: 46 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k 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 + 3.0% rent growth), your $17k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 13y 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 $28k; list at $60k implies a 118% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.

Recommended offer $58,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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: 1.86% ✓
• Cap rate: 9.61%
• Cash-on-cash: 11.86%
• DSCR: 1.53
• GRM: 4.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 1.6%
• Equity multiple: 1.06×
• Total profit: $1,055
• Equity at exit: $8,931

10-year hold

• IRR: 11.5%
• Equity multiple: 1.91×
• Total profit: $15,334
• Equity at exit: $5,179

Cash invested: $16,772 (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 53223

• Home prices YoY: -27.7%
• Active inventory: 46
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,114 high
• Mortgage (P&I): −$314
• Tax est. 1.5%: −$75 /mo · $898/yr
• Insurance: −$25
• HOA: −$300
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $166

Break-even live

Break-even rent $904

Max offer price $59,900

Occupancy floor 80%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6011 W Port Ave Apt 203H Milwaukee, WI	1.0	1.0	725	$995	$1.37	44d	1	0.04mi
6401 W Bradley Rd Milwaukee, WI	1.0–3.0	1.0–2.5	882	$1,200	$1.36	1d	2	0.42mi
4527 W Bradley Rd Milwaukee, WI	1.0	1.0	673	$995	$1.48	14d	1	0.88mi
7290 W Dean Rd Milwaukee, WI	2.0	1.0–1.5	625	$1,170	$1.87	1d	8	1.16mi
7300 W Dean Rd Milwaukee, WI	1.0–2.0	1.0–1.5	850	$1,145	$1.35	2d	8	1.26mi
7233 N 38th St Unit 7 Milwaukee, WI	2.0	1.0	675	$1,075	$1.59	44d	1	1.41mi

HOA detail condo

• Monthly dues: $300 · $3,600/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 39 events

1. 2026-06-18
   days on market $59,900 Active 31 DOM
2. 2026-06-17
   days on market $59,900 Active 30 DOM
3. 2026-06-16
   days on market $59,900 Active 29 DOM
4. 2026-06-15
   days on market $59,900 Active 28 DOM
5. 2026-06-13
   days on market $59,900 Active 26 DOM
6. 2026-06-13
   days on market $59,900 Active 25 DOM
7. 2026-06-09
   days on market $59,900 Active 22 DOM
8. 2026-06-08
   days on market $59,900 Active 21 DOM
9. 2026-06-07
   days on market $59,900 Active 20 DOM
10. 2026-06-05
    days on market $59,900 Active 17 DOM
11. 2026-06-03
    days on market $59,900 Active 16 DOM
12. 2026-06-02
    days on market $59,900 Active 15 DOM
13. 2026-06-01
    days on market $59,900 Active 14 DOM
14. 2026-05-31
    days on market $59,900 Active 13 DOM
15. 2026-05-18
    listed $59,900 Active 569-char remark

    Show marketing remark (569 chars)

    Nicely updated 1 bed 1 bath corner unit condo with one private 1 car garage w new garage door and one surface parking space. Unit has newer light fixtures, paint, and flooring. Lots of closet space, a fireplace, and a balcony w sliding door for plenty of natural light. Shared green space and swimming pool on the property. Storage locker and coin operated laundry in basement. Own for less than rent, come take a look! Currently tenant occupied with tenant paying $1,000/month. Can be sold on its own or as a discounted package w MLS #1962975 (3956 60th MLS #1962975).

16. 2026-05-17
    historical 517-char remark

    Show marketing remark (517 chars)

    Nicely updated 1 bed 1 bath corner unit condo with one garage parking space w new garage door and one surface parking space. Unit has newer light fixtures, paint, and flooring. Lots of closet space, a fireplace, and a balcony w sliding door for plenty of natural light. Shared green space and swimming pool on the property. Storage locker and coin operated laundry in basement. Own for less than rent, come take a look! Can be sold individually or as a discounted package with MLS #s 1943203, 1943208 & 1943211.

17. 2026-04-07
    price $62,500 517-char remark

    Show marketing remark (517 chars)

    Nicely updated 1 bed 1 bath corner unit condo with one garage parking space w new garage door and one surface parking space. Unit has newer light fixtures, paint, and flooring. Lots of closet space, a fireplace, and a balcony w sliding door for plenty of natural light. Shared green space and swimming pool on the property. Storage locker and coin operated laundry in basement. Own for less than rent, come take a look! Can be sold individually or as a discounted package with MLS #s 1943203, 1943208 & 1943211.

18. 2026-03-21
    status Active 517-char remark

    Show marketing remark (517 chars)

    Nicely updated 1 bed 1 bath corner unit condo with one garage parking space w new garage door and one surface parking space. Unit has newer light fixtures, paint, and flooring. Lots of closet space, a fireplace, and a balcony w sliding door for plenty of natural light. Shared green space and swimming pool on the property. Storage locker and coin operated laundry in basement. Own for less than rent, come take a look! Can be sold individually or as a discounted package with MLS #s 1943203, 1943208 & 1943211.

19. 2026-03-09
    historical Contingent 517-char remark

    Show marketing remark (517 chars)

    Nicely updated 1 bed 1 bath corner unit condo with one garage parking space w new garage door and one surface parking space. Unit has newer light fixtures, paint, and flooring. Lots of closet space, a fireplace, and a balcony w sliding door for plenty of natural light. Shared green space and swimming pool on the property. Storage locker and coin operated laundry in basement. Own for less than rent, come take a look! Can be sold individually or as a discounted package with MLS #s 1943203, 1943208 & 1943211.

20. 2026-02-02
    price $64,900 517-char remark

    Show marketing remark (517 chars)

    Nicely updated 1 bed 1 bath corner unit condo with one garage parking space w new garage door and one surface parking space. Unit has newer light fixtures, paint, and flooring. Lots of closet space, a fireplace, and a balcony w sliding door for plenty of natural light. Shared green space and swimming pool on the property. Storage locker and coin operated laundry in basement. Own for less than rent, come take a look! Can be sold individually or as a discounted package with MLS #s 1943203, 1943208 & 1943211.

21. 2025-12-21
    historical $1,000
22. 2025-11-17
    listed $69,900 Active 517-char remark

    Show marketing remark (517 chars)

    Nicely updated 1 bed 1 bath corner unit condo with one garage parking space w new garage door and one surface parking space. Unit has newer light fixtures, paint, and flooring. Lots of closet space, a fireplace, and a balcony w sliding door for plenty of natural light. Shared green space and swimming pool on the property. Storage locker and coin operated laundry in basement. Own for less than rent, come take a look! Can be sold individually or as a discounted package with MLS #s 1943203, 1943208 & 1943211.

23. 2025-10-17
    listed $1,000
24. 2023-03-21
    historical
25. 2023-03-10
    status Active
26. 2023-02-15
    historical Contingent
27. 2023-02-01
    listed $54,900 Active
28. 2020-09-14
    soldstatus $27,500 Sold
29. 2020-08-31
    historical Contingent
30. 2020-08-20
    price $30,000
31. 2020-08-04
    status Active
32. 2020-07-31
    historical Contingent
33. 2020-07-27
    listed $35,000 Active
34. 2020-01-31
    soldstatus $19,500 Sold
35. 2020-01-14
    status Pending
36. 2020-01-09
    listed $26,000 Active
37. 2013-07-09
    historical
38. 2013-07-09
    listed $32,500
39. 2010-04-27
    soldstatus $29,000

ⓘ 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,363
• − Mortgage interest: −$3,355
• − Property taxes: −$898
• − Insurance: −$300
• − Repairs & maintenance: −$1,069
• − Management: −$1,069
• − HOA: −$3,600
• − Depreciation: −$1,743
• Taxable income: $1,329
• Est. tax owed @ 24.0%: −$319
• After-tax cash flow: $1,671/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): 28,793
• Household income: $60,839
• Rent vs Own: 46.6% rent · 53.4% own
• Severe rent burden: 1084.0

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 57% White 29% Asian 6% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Romanian 3% Portuguese 1% Lithuanian 1%
• Foreign-born: 7% · Canada
• Languages at home: 89% English-only · Other Asian/Pacific 4% Spanish 2% French/Haitian/Cajun 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: ▼ -108.51%
• Current HPI: 283.4147
• Rent YoY: —
• 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

+106.6% since first listed

25 events — show timeline

• 2026-05-18 Listed $59,900 METROMLS
• 2026-05-17 Listing Removed — METROMLS
• 2026-04-07 Price Changed $62,500 METROMLS
• 2026-03-21 Relisted — METROMLS
• 2026-03-09 Contingent — METROMLS
• 2026-02-02 Price Changed $64,900 METROMLS
• 2025-12-21 Rental Removed $1,000 APPFOLIO
• 2025-11-17 Listed $69,900 METROMLS
• 2025-10-17 Listed for Rent $1,000 APPFOLIO
• 2023-03-21 Listing Removed — METROMLS
• 2023-03-10 Relisted — METROMLS
• 2023-02-15 Contingent — METROMLS
• 2023-02-01 Listed $54,900 METROMLS
• 2020-09-14 Sold (MLS) $27,500 METROMLS
• 2020-08-31 Contingent — METROMLS
• 2020-08-20 Price Changed $30,000 METROMLS
• 2020-08-04 Relisted — METROMLS
• 2020-07-31 Contingent — METROMLS
• 2020-07-27 Listed $35,000 METROMLS
• 2020-01-31 Sold (MLS) $19,500 METROMLS
• 2020-01-14 Pending — METROMLS
• 2020-01-09 Listed $26,000 METROMLS
• 2013-07-09 Listed $32,500 METROMLS
• 2013-07-09 Listing Removed — METROMLS
• 2010-04-27 Sold (MLS) $29,000 METROMLS