4027 W Vliet St #4029 · Milwaukee, WI 53208

$215,000

6 bd · 2.0 ba · 2,444 sqft · MultiFamily · 28 Days on market

Built 1913 Fair condition 3,920 sqft lot Est $156k · 37% 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 +23.9/30.0
• DSCR +7.7/10.0
• 1% rule +6.2/10.0
• Rent growth +5.0/5.0
• Livability +4.0/5.0
• Condition / age +2.2/5.0
• 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

Massive 3/3 duplex on the edge of Washington Heights is a huge income producer ready for purchase. Established tenant downstairs with upstairs ready for occupancy. New roof, central air added for both units, newer flooring (refinished hardwoods + new carpet), updated circuit panels, and new gutters just to name some of the updates. Amazing rents and upward trending values for this great duplex that will make a new owner happy for years to come, call today!

Key facts

• Newer flooring
• New gutters
• Central air

Tags

• NEW ROOF
• CENTRAL AIR
• NEWER FLOORING
• UPDATED CIRCUIT PANELS
• NEW GUTTERS

Property features AI

Finance

• Other: Two-unit building

Exterior

• Utilities: Municipal water; Municipal sewer; 2 electric meters; 2 gas meters
• Home design: 2-story duplex; Multi-family property; Zoned RT3
• Construction: Information source lists year built as assessor/public record
• Exterior features: Stucco/Slate exterior; Lot approximately 0.85 acres

Interior

• Kitchen: Unit 2 kitchen on upper level
• Bedrooms: Unit 1: 3 bedrooms; Unit 2: 3 bedrooms (master and all bedrooms on upper level)
• Bathrooms: Unit 1: 1 full bathroom; Unit 2: 1 full bathroom
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $215k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $416 ($5k/yr) — positive. Per door: $208/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $215k).
• Recommended offer: $212k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.6% 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: Rents rising fast (+10.8%/yr); 92 active listings in the ZIP; 3 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).
• At $2,407/mo this rent would consume 55% of the median local household income ($53k/yr) (locally 1568% 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 $6k 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 + 8.0% rent growth), your $60k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $132k; list at $215k implies a 63% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $211,775 (1.5% below list)

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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1913 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.12% ✓
• Cap rate: 8.61%
• Cash-on-cash: 8.29%
• DSCR: 1.37
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $156,416
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3903 W Walnut St #3905	0.27mi	6/2.0	2,600 (+6%)	1mo	$84,000	$32	76
3912 W Cherry St #3914	0.16mi	6/2.0	2,619 (+7%)	9mo	$90,000	$34	73
1800 N 36th St	0.45mi	6/2.0	2,320 (-5%)	1mo	$147,700	$64	70
3913 W Walnut St #3915	0.26mi	6/2.0	2,600 (+6%)	10mo	$100,000	$38	69
1429 N 49th St #1431	0.54mi	6/2.0	2,534 (+4%)	1mo	$339,000	$134	68
1420 N 37th St	0.26mi	6/2.0	2,193 (-10%)	9mo	$282,000	$129	63
1800 N 36th St #1802	0.45mi	5/2.0 (-1)	2,320 (-5%)	8mo	$45,000	$19	59
2135 N 44th St #2137	0.69mi	6/2.0	2,401 (-2%)	8mo	$160,000	$67	58
2162 N 41st St #2164	0.71mi	6/2.0	2,544 (+4%)	9mo	$140,000	$55	52
3311 W Mckinley Blvd #3313	0.45mi	6/2.0	2,794 (+14%)	6mo	$180,000	$64	50
4514 W Lloyd St #4516	0.69mi	5/2.0 (-1)	2,356 (-4%)	9mo	$115,000	$49	50
1933 N 49th St #1935	0.74mi	6/2.0	2,596 (+6%)	10mo	$330,000	$127	46

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 1.8%
• Equity multiple: 1.07×
• Total profit: $4,395
• Equity at exit: $32,057

10-year hold

• IRR: 15.8%
• Equity multiple: 2.59×
• Total profit: $95,964
• Equity at exit: $18,589

Cash invested: $60,200 (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 53208

• Home prices YoY: -27.1%
• Rents YoY: 10.8%
• Active inventory: 92
• Price-to-rent: 14.9×

Monthly cashflow live

• Estimated rent: $2,407 high
• Mortgage (P&I): −$1,127
• Tax est. 1.5%: −$269 /mo · $3,225/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$505
• Net cashflow: $416

Break-even live

Break-even rent $1,881

Max offer price $215,000

Occupancy floor 78%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,406
Total (2 units)			$2,407

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2137 N 47th St Milwaukee, WI	5.0	2.0	1723	$1,850	$1.07	14d	1	0.76mi
2432 N 28th St Milwaukee, WI	5.0	1.5	1876	$1,600	$0.85	44d	1	1.25mi
2028 W Michigan St Milwaukee, WI	6.0	2.0	2005	$2,450	$1.22	10d	1	1.49mi

Listing history 28 events

1. 2026-06-18
   days on market $215,000 Active 28 DOM
2. 2026-06-17
   days on market $215,000 Active 27 DOM
3. 2026-06-16
   days on market $215,000 Active 26 DOM
4. 2026-06-15
   price $215,000 Active 25 DOM
5. 2026-06-15
   days on market $230,000 Active 25 DOM
6. 2026-06-13
   days on market $230,000 Active 23 DOM
7. 2026-06-13
   days on market $230,000 Active 22 DOM
8. 2026-06-09
   days on market $230,000 Active 19 DOM
9. 2026-06-08
   days on market $230,000 Active 18 DOM
10. 2026-06-07
    days on market $230,000 Active 17 DOM
11. 2026-06-05
    days on market $230,000 Active 14 DOM
12. 2026-06-03
    days on market $230,000 Active 13 DOM
13. 2026-06-02
    days on market $230,000 Active 12 DOM
14. 2026-06-01
    days on market $230,000 Active 11 DOM
15. 2026-05-31
    days on market $230,000 Active 10 DOM
16. 2026-05-21
    listed $230,000 Active
17. 2026-04-28
    historical 460-char remark

    Show marketing remark (460 chars)

    Massive 3/3 duplex on the edge of Washington Heights is a huge income producer ready for purchase. Established tenant downstairs with upstairs ready for occupancy. New roof, central air added for both units, newer flooring (refinished hardwoods + new carpet), updated circuit panels, and new gutters just to name some of the updates. Amazing rents and upward trending values for this great duplex that will make a new owner happy for years to come, call today!

18. 2026-04-08
    price $245,000 460-char remark

    Show marketing remark (460 chars)

    Massive 3/3 duplex on the edge of Washington Heights is a huge income producer ready for purchase. Established tenant downstairs with upstairs ready for occupancy. New roof, central air added for both units, newer flooring (refinished hardwoods + new carpet), updated circuit panels, and new gutters just to name some of the updates. Amazing rents and upward trending values for this great duplex that will make a new owner happy for years to come, call today!

19. 2026-02-06
    price $250,000 460-char remark

    Show marketing remark (460 chars)

    Massive 3/3 duplex on the edge of Washington Heights is a huge income producer ready for purchase. Established tenant downstairs with upstairs ready for occupancy. New roof, central air added for both units, newer flooring (refinished hardwoods + new carpet), updated circuit panels, and new gutters just to name some of the updates. Amazing rents and upward trending values for this great duplex that will make a new owner happy for years to come, call today!

20. 2026-01-06
    price $260,000 460-char remark

    Show marketing remark (460 chars)

    Massive 3/3 duplex on the edge of Washington Heights is a huge income producer ready for purchase. Established tenant downstairs with upstairs ready for occupancy. New roof, central air added for both units, newer flooring (refinished hardwoods + new carpet), updated circuit panels, and new gutters just to name some of the updates. Amazing rents and upward trending values for this great duplex that will make a new owner happy for years to come, call today!

21. 2025-12-05
    price $264,900 460-char remark

    Show marketing remark (460 chars)

    Massive 3/3 duplex on the edge of Washington Heights is a huge income producer ready for purchase. Established tenant downstairs with upstairs ready for occupancy. New roof, central air added for both units, newer flooring (refinished hardwoods + new carpet), updated circuit panels, and new gutters just to name some of the updates. Amazing rents and upward trending values for this great duplex that will make a new owner happy for years to come, call today!

22. 2025-10-30
    listed $275,000 Active 460-char remark

    Show marketing remark (460 chars)

    Massive 3/3 duplex on the edge of Washington Heights is a huge income producer ready for purchase. Established tenant downstairs with upstairs ready for occupancy. New roof, central air added for both units, newer flooring (refinished hardwoods + new carpet), updated circuit panels, and new gutters just to name some of the updates. Amazing rents and upward trending values for this great duplex that will make a new owner happy for years to come, call today!

23. 2023-10-12
    soldstatus $132,000 Sold 596-char remark

    Show marketing remark (596 chars)

    Back on market due to buyer financing issue. Very meticulously maintained 3 bedroom/3 bedroom duplex on centralized Vliet corridor steps from Washington Park, restaurants, and close proximity to American Family Field, Washington Heights, and many Milwaukee staples. Updates include renovated main kitchen (2020), upper kitchen (2017), new windows plus lead abatement (2015), stainless kitchen appliances (2022), both furnaces (approximately 2013), both water heaters (2023 & 2013), newer plumbing, coin operated laundry. Home warranty for buyer peace of mind. Great opportunity, call today!

24. 2023-09-18
    historical Contingent 596-char remark

    Show marketing remark (596 chars)

    Back on market due to buyer financing issue. Very meticulously maintained 3 bedroom/3 bedroom duplex on centralized Vliet corridor steps from Washington Park, restaurants, and close proximity to American Family Field, Washington Heights, and many Milwaukee staples. Updates include renovated main kitchen (2020), upper kitchen (2017), new windows plus lead abatement (2015), stainless kitchen appliances (2022), both furnaces (approximately 2013), both water heaters (2023 & 2013), newer plumbing, coin operated laundry. Home warranty for buyer peace of mind. Great opportunity, call today!

25. 2023-09-13
    status Active 596-char remark

    Show marketing remark (596 chars)

    Back on market due to buyer financing issue. Very meticulously maintained 3 bedroom/3 bedroom duplex on centralized Vliet corridor steps from Washington Park, restaurants, and close proximity to American Family Field, Washington Heights, and many Milwaukee staples. Updates include renovated main kitchen (2020), upper kitchen (2017), new windows plus lead abatement (2015), stainless kitchen appliances (2022), both furnaces (approximately 2013), both water heaters (2023 & 2013), newer plumbing, coin operated laundry. Home warranty for buyer peace of mind. Great opportunity, call today!

26. 2023-07-08
    historical Contingent 596-char remark

    Show marketing remark (596 chars)

    Back on market due to buyer financing issue. Very meticulously maintained 3 bedroom/3 bedroom duplex on centralized Vliet corridor steps from Washington Park, restaurants, and close proximity to American Family Field, Washington Heights, and many Milwaukee staples. Updates include renovated main kitchen (2020), upper kitchen (2017), new windows plus lead abatement (2015), stainless kitchen appliances (2022), both furnaces (approximately 2013), both water heaters (2023 & 2013), newer plumbing, coin operated laundry. Home warranty for buyer peace of mind. Great opportunity, call today!

27. 2023-06-24
    price $159,000 596-char remark

    Show marketing remark (596 chars)

    Back on market due to buyer financing issue. Very meticulously maintained 3 bedroom/3 bedroom duplex on centralized Vliet corridor steps from Washington Park, restaurants, and close proximity to American Family Field, Washington Heights, and many Milwaukee staples. Updates include renovated main kitchen (2020), upper kitchen (2017), new windows plus lead abatement (2015), stainless kitchen appliances (2022), both furnaces (approximately 2013), both water heaters (2023 & 2013), newer plumbing, coin operated laundry. Home warranty for buyer peace of mind. Great opportunity, call today!

28. 2023-06-07
    listed $175,000 Active 596-char remark

    Show marketing remark (596 chars)

    Back on market due to buyer financing issue. Very meticulously maintained 3 bedroom/3 bedroom duplex on centralized Vliet corridor steps from Washington Park, restaurants, and close proximity to American Family Field, Washington Heights, and many Milwaukee staples. Updates include renovated main kitchen (2020), upper kitchen (2017), new windows plus lead abatement (2015), stainless kitchen appliances (2022), both furnaces (approximately 2013), both water heaters (2023 & 2013), newer plumbing, coin operated laundry. Home warranty for buyer peace of mind. Great opportunity, call today!

ⓘ 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,884
• − Mortgage interest: −$12,043
• − Property taxes: −$3,225
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,311
• − Management: −$2,311
• − Depreciation: −$6,255
• Taxable income: $1,665
• Est. tax owed @ 24.0%: −$400
• After-tax cash flow: $4,589/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 · 12 photos

Fair 45/100 Moderate rehab

This multi-family home requires moderate renovations to improve its condition and increase its value. The kitchen and bathrooms need significant updates, and the home's exterior and landscaping also need attention.

Repairs flagged

• Major Kitchen cabinets — Older cabinets in poor condition
• Major Appliances — Outdated and worn
• Major Countertops — Worn and outdated
• Major Bathroom fixtures — Older and dated
• Major Paint — Worn and damaged
• Major Landscaping — Needs significant work

Value-add opportunities

• Both New kitchen cabinets and appliances — Modernizes the space and improves aesthetics
• Both New flooring — Improves the living areas and adds value
• Both New paint — Enhances the interior and makes the home more appealing
• Both Landscaping — Improves curb appeal and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Older cabinets in poor condition	Major	$15,000–50,000
Appliances · Outdated and worn	Major	$15,000–50,000
Countertops · Worn and outdated	Major	$15,000–50,000
Bathroom fixtures · Older and dated	Major	$15,000–50,000
Paint · Worn and damaged	Major	$15,000–50,000
Landscaping · Needs significant work	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both New kitchen cabinets and appliances — Modernizes the space and improves aesthetics ↑
• Both New flooring — Improves the living areas and adds value ↑
• Both New paint — Enhances the interior and makes the home more appealing ↑
• Both Landscaping — Improves curb appeal and adds 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): 27,201
• Household income: $52,690
• Rent vs Own: 60.8% rent · 39.2% own
• Severe rent burden: 1568.0

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 0.69)
• Race & ethnicity: Black 41% White 36% Hispanic / Latino 10% Asian 9% Two or more races 6%
• Hispanic origin (detail): Mexican 7% Puerto Rican 2%
• Common ancestry: Romanian 5% Italian 2% Lithuanian 2%
• Foreign-born: 9% · Canada, Philippines
• Languages at home: 84% English-only · Other Asian/Pacific 6% Spanish 6% 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: ▼ -123.92%
• Current HPI: 333.7268
• Rent YoY: ▲ 10.78%
• 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

+31.4% since first listed

13 events — show timeline

• 2026-05-21 Listed $230,000 METROMLS
• 2026-04-28 Listing Removed — METROMLS
• 2026-04-08 Price Changed $245,000 METROMLS
• 2026-02-06 Price Changed $250,000 METROMLS
• 2026-01-06 Price Changed $260,000 METROMLS
• 2025-12-05 Price Changed $264,900 METROMLS
• 2025-10-30 Listed $275,000 METROMLS
• 2023-10-12 Sold (MLS) $132,000 METROMLS
• 2023-09-18 Contingent — METROMLS
• 2023-09-13 Relisted — METROMLS
• 2023-07-08 Contingent — METROMLS
• 2023-06-24 Price Changed $159,000 METROMLS
• 2023-06-07 Listed $175,000 METROMLS