1422 N 26th St Unit 1422A-1424 · Milwaukee, WI 53205

$250,000

None bd · None ba · 2,404 sqft · MultiFamily · 42 Days on market

Built 1895 Good condition 3,049 sqft lot $104/sqft · 110% above area

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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 +7.5/15.0
• Appreciation +6.5/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0
• Schools +1.2/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Turnkey, income-producing 3-unit investment opportunity in Milwaukee just 5 minutes from downtown. This fully renovated multifamily property generates $3,475 in monthly rental income, with tenants paying all utilities except water and sewer to help maximize cash flow. Two units are leased, and one vacant unit allows for immediate showings and lease-up potential. Property was fully gutted and redone, featuring a new roof, updated kitchens with new cabinets and countertops, brand-new bathrooms with all new fixtures, and completely redrywalled interiors. Rare setup includes a single-family home as one of the three rental units, adding flexibility and strong tenant appeal

Key facts

• 3,049 sq ft lot
• Built 1895
• Listed 42 days

What this means for you Summary

Snapshot

• This is a multifamily listed at $250k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $250k).
• Recommended offer: $242k (3.0% 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: 28 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $3,716/mo this rent would consume 141% of the median local household income ($32k/yr) (locally 636% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $9k of equity ($2k loan paydown + $8k appreciation (3.0% local appreciation)).
• 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 $70k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $242,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 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 1895 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 12.09%
• Cash-on-cash: 20.71%
• DSCR: 1.92
• GRM: 5.6

CMA / ARV

• ARV (median comp): $118,849
• List price: $250,000
• Delta: 110.35%
• 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
1422 N 26th St Unit 1422A-1424	0.00mi	—/—	2,404 (0%)	0mo	$230,000	$96	100
1302 N 26th St #1304	0.12mi	6/2.0	2,318 (-4%)	0mo	$210,900	$91	88
1649 N 29th St #1651	0.31mi	6/2.0	2,382 (-1%)	6mo	$47,000	$20	79
2622 W Vine St #2624	0.41mi	6/2.0	2,459 (+2%)	4mo	$180,000	$73	74
1922 N 27th St #1924	0.44mi	5/2.0	2,454 (+2%)	4mo	$90,000	$37	72
1331 N 22nd St #1333	0.29mi	6/2.0	2,634 (+10%)	1mo	$83,000	$32	69
1713 N 29th St #1715	0.35mi	4/2.0	2,191 (-9%)	3mo	$97,000	$44	67
1925 N 27th St #1927	0.45mi	4/2.0	2,266 (-6%)	4mo	$90,000	$40	66
1932 W Brown St #1934	0.66mi	5/2.0	2,448 (+2%)	2mo	$120,000	$49	64
1800 N 36th St	0.69mi	6/2.0	2,320 (-4%)	1mo	$147,700	$64	61
1350 N 36th St #1352	0.64mi	4/2.0	2,649 (+10%)	4mo	$130,000	$49	49
2114 N 28th St #2116	0.63mi	6/2.0	2,682 (+12%)	3mo	$180,500	$67	49

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.02% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.0%
• Equity multiple: 2.53×
• Total profit: $107,417
• Equity at exit: $112,740

10-year hold

• IRR: 27.6%
• Equity multiple: 4.92×
• Total profit: $274,304
• Equity at exit: $174,003

Cash invested: $70,000 (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 53205

• Home prices YoY: 0.8%
• Active inventory: 28
• Price-to-rent: 16.8×

Monthly cashflow live

• Estimated rent: $3,716 high
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,750/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$780
• Net cashflow: $1,208

Break-even live

Break-even rent $2,187

Max offer price $250,000

Occupancy floor 62%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$3,717
Total (3 units)			$3,716

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2419 W McKinley Ave Milwaukee, WI	2.0	1.0	1852	$1,200	$0.65	43d	1	0.18mi
2119 W Brown St Milwaukee, WI	3.0	1.0	1754	$995	$0.57	3d	1	0.59mi
901 W Winnebago St Milwaukee, WI	1.0–3.0	1.0–2.0	1359	$1,937	$1.43	2d	10	1.17mi

Listing history 5 events

1. 2026-05-03
   historical Contingent 676-char remark

   Show marketing remark (676 chars)

   Turnkey, income-producing 3-unit investment opportunity in Milwaukee just 5 minutes from downtown. This fully renovated multifamily property generates $3,475 in monthly rental income, with tenants paying all utilities except water and sewer to help maximize cash flow. Two units are leased, and one vacant unit allows for immediate showings and lease-up potential. Property was fully gutted and redone, featuring a new roof, updated kitchens with new cabinets and countertops, brand-new bathrooms with all new fixtures, and completely redrywalled interiors. Rare setup includes a single-family home as one of the three rental units, adding flexibility and strong tenant appeal

2. 2026-04-17
   status Active 676-char remark

   Show marketing remark (676 chars)

   Turnkey, income-producing 3-unit investment opportunity in Milwaukee just 5 minutes from downtown. This fully renovated multifamily property generates $3,475 in monthly rental income, with tenants paying all utilities except water and sewer to help maximize cash flow. Two units are leased, and one vacant unit allows for immediate showings and lease-up potential. Property was fully gutted and redone, featuring a new roof, updated kitchens with new cabinets and countertops, brand-new bathrooms with all new fixtures, and completely redrywalled interiors. Rare setup includes a single-family home as one of the three rental units, adding flexibility and strong tenant appeal

3. 2026-04-10
   listed $250,000 Active 676-char remark

   Show marketing remark (676 chars)

   Turnkey, income-producing 3-unit investment opportunity in Milwaukee just 5 minutes from downtown. This fully renovated multifamily property generates $3,475 in monthly rental income, with tenants paying all utilities except water and sewer to help maximize cash flow. Two units are leased, and one vacant unit allows for immediate showings and lease-up potential. Property was fully gutted and redone, featuring a new roof, updated kitchens with new cabinets and countertops, brand-new bathrooms with all new fixtures, and completely redrywalled interiors. Rare setup includes a single-family home as one of the three rental units, adding flexibility and strong tenant appeal

4. 2026-04-10
   historical 676-char remark

   Show marketing remark (676 chars)

   Turnkey, income-producing 3-unit investment opportunity in Milwaukee just 5 minutes from downtown. This fully renovated multifamily property generates $3,475 in monthly rental income, with tenants paying all utilities except water and sewer to help maximize cash flow. Two units are leased, and one vacant unit allows for immediate showings and lease-up potential. Property was fully gutted and redone, featuring a new roof, updated kitchens with new cabinets and countertops, brand-new bathrooms with all new fixtures, and completely redrywalled interiors. Rare setup includes a single-family home as one of the three rental units, adding flexibility and strong tenant appeal

5. 2026-03-22
   historical $250,000 676-char remark

   Show marketing remark (676 chars)

   Turnkey, income-producing 3-unit investment opportunity in Milwaukee just 5 minutes from downtown. This fully renovated multifamily property generates $3,475 in monthly rental income, with tenants paying all utilities except water and sewer to help maximize cash flow. Two units are leased, and one vacant unit allows for immediate showings and lease-up potential. Property was fully gutted and redone, featuring a new roof, updated kitchens with new cabinets and countertops, brand-new bathrooms with all new fixtures, and completely redrywalled interiors. Rare setup includes a single-family home as one of the three rental units, adding flexibility and strong tenant appeal

ⓘ 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 ≥98°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $44,592
• − Mortgage interest: −$14,004
• − Property taxes: −$3,750
• − Insurance: −$1,250
• − Repairs & maintenance: −$3,567
• − Management: −$3,567
• − Depreciation: −$7,273
• Taxable income: $11,181
• Est. tax owed @ 24.0%: −$2,683
• After-tax cash flow: $11,812/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 · 1 photo

Good 80/100 Gut rehab

This fully renovated multifamily property is in excellent condition with a gut renovation, generating strong rental income and immediate lease-up potential.

Value-add opportunities

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics
• Both Landscaping improvements — Enhances curb appeal and property value
• Both Add energy-efficient windows — Reduces utility costs and enhances property value
• Both Install smart home technology — Attracts tech-savvy tenants and enhances property value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and property value ↑
• Both Add energy-efficient windows — Reduces utility costs and enhances property value ↑
• Both Install smart home technology — Attracts tech-savvy tenants and enhances property 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): 9,265
• Household income: $31,529
• Rent vs Own: 72.6% rent · 27.4% own
• Severe rent burden: 636.0

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 (80%)
• Race & ethnicity: Black 80% Asian 7% White 6% Hispanic / Latino 6% Two or more races 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 1% Lithuanian 1% Swedish 1%
• Foreign-born: 6% · Canada
• Languages at home: 88% English-only · Other Asian/Pacific 5% Spanish 5%

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: ▲ 3.02%
• Current HPI: 363.0038
• 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

+0.0% since first listed

5 events — show timeline

• 2026-05-03 Contingent — METROMLS
• 2026-04-17 Relisted — METROMLS
• 2026-04-10 Listed $250,000 METROMLS
• 2026-04-10 Listing Removed — METROMLS
• 2026-03-22 Coming Soon $250,000 METROMLS