206 N 68th St · Milwaukee, WI 53213

$285,000

3 bd · 2.0 ba · 1,493 sqft · MultiFamily public records · 7 Days on market

Built 1926 3,920 sqft lot Est $272k · 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +5.3/15.0
• Rent growth +4.0/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• 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

Spectacular opportunity to own a turn key 2/1 1/1 Bluemound Heights duplex, just a stones throw from all that Tosa downtown offers! Management is a breeze with this well upgraded exterior from vinyl siding, aluminum wrapping, and new windows! Updates include new vinyl replacement windows, quartz countertops, new sinks and faucets kitchen, freshly painted, refinished HWFs, new lvp, cabinet hardware, some lighting, and more! Plenty of storage space in the basement. 3 car parking pad in back. Owners shed, fenced in yard and concrete slab for patio space. Get it while its hot!

Key facts

• Quartz countertops
• Turn key duplex
• Upgraded exterior

Tags

• TURN KEY DUPLEX
• UPGRADED EXTERIOR
• VINYL SIDING
• ALUMINUM WRAPPING
• NEW WINDOWS
• QUARTZ COUNTERTOPS

Property features AI

Finance

• Other: Lot size less than 1/2 acre (approx. 0.09 acre)
• Financial info: Property contains 2 units

Exterior

• Parking: 1 parking space
• Utilities: Municipal water; Municipal sewer; 2 electric meters; 2 gas meters
• Home design: 2-story duplex; Multi-family property; Zoning: RT3
• Construction: Information source: Assessor/Public Record (year built not specified)
• Exterior features: Aluminum trim and vinyl exterior

Interior

• Kitchen: Unit 2 kitchen located on upper level (approx. 15 x 9); Stoves and refrigerators included (2 each); Range hood included
• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 1 bedroom (master on upper level, approx. 10 x 11)
• Bathrooms: Unit 1: 1 full bathroom; Unit 2: 1 full bathroom
• Interior features: Full block basement
• Laundry & utility: Washer and dryer included (shared or in-unit configuration not specified)

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $285k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $874/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $285k).
• Cap rate 13.7% 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 fast (+5.9%/yr); 53 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $4,616/mo this rent would consume 54% of the median local household income ($102k/yr) (locally 774% 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 $9k 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 + 5.9% rent growth), your $80k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $245k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $285,000

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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.62% ✓
• Cap rate: 13.65%
• Cash-on-cash: 26.28%
• DSCR: 2.17
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $271,726
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
144 S 73rd St	0.36mi	4/2.0 (+1)	1,578 (+6%)	1mo	$305,000	$193	68
214 N 73rd St	0.32mi	2/2.0 (-1)	1,530 (+2%)	13mo	$302,490	$198	66
309 N 61st St	0.42mi	4/2.0 (+1)	1,496 (+0%)	14mo	$330,000	$221	64
316 S 71st St	0.35mi	3/2.0	1,678 (+12%)	2mo	$260,000	$155	61
521 S 75th St	0.65mi	3/2.0	1,426 (-4%)	3mo	$260,000	$182	60
653 S 65th St	0.60mi	3/2.0	1,428 (-4%)	8mo	$225,000	$158	58
625 S 61st St	0.68mi	4/2.0 (+1)	1,510 (+1%)	13mo	$293,500	$194	50
437 S 73rd St	0.52mi	3/2.0	1,314 (-12%)	8mo	$250,000	$190	49
447 S 72nd St	0.49mi	4/2.0 (+1)	1,632 (+9%)	14mo	$280,000	$172	45
525 S 75th St	0.65mi	2/2.0 (-1)	1,606 (+8%)	12mo	$215,000	$134	42
6926 Terrace Ct #6928	0.71mi	3/2.0	1,664 (+12%)	9mo	$300,000	$180	41
212 S 77th St	0.64mi	3/2.0	1,710 (+14%)	10mo	$275,000	$161	38

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 · 5.86% rent growth · sell at horizon

5-year hold

• IRR: 23.2%
• Equity multiple: 1.99×
• Total profit: $78,809
• Equity at exit: $42,494

10-year hold

• IRR: 32.9%
• Equity multiple: 4.40×
• Total profit: $271,509
• Equity at exit: $24,642

Cash invested: $79,800 (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 53213

• Rents YoY: 5.9%
• Active inventory: 53
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $4,616 high
• Mortgage (P&I): −$1,495
• Tax from tax record: −$286 /mo · $3,429/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$969
• Net cashflow: $1,748

Break-even live

Break-even rent $2,404

Max offer price $285,000

Occupancy floor 57%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$4,616
Total (2 units)			$4,616

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
515 N 65th St Milwaukee, WI	2.0	1.0	1020	$1,295	$1.27	43d	1	0.30mi
7135 W Bluemound Rd Unit 7135 Milwaukee, WI	2.0	1.0	950	$1,350	$1.42	19d	1	0.30mi
323A N 59th St Milwaukee, WI	2.0	1.0	900	$1,595	$1.77	21d	1	0.55mi
638 S 66th St Milwaukee, WI	3.0	1.0	1104	$1,795	$1.63	14d	1	0.55mi
642 S 66th St Milwaukee, WI	3.0	1.0	1059	$1,770	$1.67	16d	1	0.56mi
8041 W Bluemound Rd Milwaukee, WI	1.0–2.0	1.0–2.0	844	$2,300	$2.73	1d	3	0.86mi
5832 W Walker St Milwaukee, WI	3.0	1.0	981	$1,300	$1.33	23d	1	0.88mi
6100 W State St Wauwatosa, WI	1.0–3.0	1.0–2.0	1160	$3,017	$2.60	1d	20	0.90mi
1215 N 62nd St Wauwatosa, WI	2.0	1.0–2.0	796	$2,321	$2.91	1d	9	0.97mi
1244 N 68th St Milwaukee, WI	1.0–2.0	1.0–1.5	850	$1,650	$1.94	1d	7	1.00mi
1200 N 62nd St Milwaukee, WI	1.0–2.0	1.0–2.0	899	$2,343	$2.60	1d	14	1.02mi
1301 S 63rd St Uppr -6307 West Allis, WI	3.0	1.0	1150	$1,650	$1.43	23d	1	1.06mi
6400 W Greenfield Ave West Allis, WI	2.0	1.0	950	$2,148	$2.26	1d	3	1.13mi
7400 W State St Milwaukee, WI	1.0–3.0	1.0–2.0	1106	$3,995	$3.61	2d	8	1.21mi
6516 W National Ave Unit 6519-101 West Allis, WI	2.0	2.0	1204	$1,945	$1.62	15d	1	1.23mi
6516 W National Ave Unit 6501-209 West Allis, WI	2.0	2.0	1150	$1,695	$1.47	3d	1	1.23mi
6516 W National Ave Unit 1441-105 West Allis, WI	2.0	2.0	1143	$1,745	$1.53	23d	1	1.23mi
6516 W National Ave Unit 1460-110 West Allis, WI	2.0	1.0	1080	$1,815	$1.68	15d	1	1.23mi
6516 W National Ave Unit 6501-310 West Allis, WI	2.0	2.0	1289	$1,995	$1.55	23d	1	1.23mi
6516 W National Ave Unit 1441-309 West Allis, WI	2.0	2.0	1150	$1,575	$1.37	21d	1	1.23mi
6516 W National Ave Unit 1460-102 West Allis, WI	2.0	2.0	1143	$1,775	$1.55	3d	1	1.23mi
6516 W National Ave Unit 6501-212 West Allis, WI	2.0	2.0	1204	$1,945	$1.62	23d	1	1.23mi
4802 W Wells St Unit 4802-1 Milwaukee, WI	3.0	2.0	1700	$1,799	$1.06	43d	1	1.26mi
7930 Harwood Ave Wauwatosa, WI	1.0–2.0	1.0–2.0	1050	$1,765	$1.68	1d	4	1.29mi
7474 Harwood Ave Wauwatosa, WI	3.0	1.0–3.0	999	$4,780	$4.78	2d	73	1.34mi
7313 Harwood Ave Milwaukee, WI	2.0	1.0	1144	$1,698	$1.48	12d	1	1.34mi
185 N 90th St Milwaukee, WI	3.0	1.5	1500	$2,200	$1.47	14d	1	1.39mi
1467 S 78th St Milwaukee, WI	2.0	1.0	1000	$1,500	$1.50	11d	1	1.39mi
1553 S 75th St Unit 1553 West Allis, WI	2.0	1.0	1008	$1,595	$1.58	3d	1	1.41mi
812 S 87th St Milwaukee, WI	2.0	1.0	979	$1,500	$1.53	2d	1	1.41mi
1551 N 57th St Milwaukee, WI	2.0	1.0	1400	$1,795	$1.28	43d	1	1.42mi
1609 N 57th St Milwaukee, WI	2.0	1.0	1400	$1,650	$1.18	16d	1	1.45mi
9101 W Dixon St Milwaukee, WI	2.0	2.0	1100	$1,545	$1.40	4d	1	1.47mi
1732 S 71st St Unit 1732 West Allis, WI	3.0	1.0	912	$1,795	$1.97	11d	1	1.50mi

Listing history 7 events

1. 2026-06-18
   days on market $285,000 Active 7 DOM
2. 2026-06-17
   days on market $285,000 Active 6 DOM
3. 2026-06-16
   days on market $285,000 Active 5 DOM
4. 2026-06-15
   days on market $285,000 Active 4 DOM
5. 2026-06-13
   days on market $285,000 Active 2 DOM
6. 2026-06-13
   remarks 579-char remark
7. 2026-06-13
   listed $285,000 Active 1 DOM

ⓘ 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: $3,429 · $286/mo
• Projected year-2 tax: $4,351 · $363/mo
• Expected delta: +$922/yr (+$77/mo · 26.9%)

ⓘ 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 ≥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: $55,392
• − Mortgage interest: −$15,964
• − Property taxes: −$3,429
• − Insurance: −$1,425
• − Repairs & maintenance: −$4,431
• − Management: −$4,431
• − Depreciation: −$8,291
• Taxable income: $17,420
• Est. tax owed @ 24.0%: −$4,181
• After-tax cash flow: $16,790/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): 26,905
• Household income: $101,688
• Rent vs Own: 40.2% rent · 59.8% own
• Severe rent burden: 774.0

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 White (80%)
• Race & ethnicity: White 80% Two or more races 6% Hispanic / Latino 5% Asian 5% Black 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Romanian 10% Lithuanian 4% Portuguese 4%
• Foreign-born: 6% · China, Canada
• Languages at home: 93% English-only · Spanish 2% Chinese 1% 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: ▼ -242.24%
• Current HPI: 294.1916
• Rent YoY: ▲ 5.86%
• 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

+427.8% since first listed

3 events — show timeline

• 2026-06-11 Listed $285,000 METROMLS
• 2024-04-26 Sold (Public Records) $245,100 Public Records
• 1987-07-01 Sold (Public Records) $54,000 Public Records

Property tax history

+1.4%/yr

Latest (2024): $3,429 · +27.9% YoY. Source: county tax records.