932 N 68th St #934 · Wauwatosa, WI 53213

$399,900

4 bd · 2.0 ba · 2,050 sqft · MultiFamily · 26 Days on market

Built 1929 Fair condition 6,098 sqft lot Est $371k · 8% over

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Why this score? — see what drove the D 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 +13.4/30.0
• Livability +4.4/5.0
• Schools +4.3/10.0
• DSCR +4.0/10.0
• ARV discount +4.0/15.0
• Rent growth +4.0/5.0
• 1% rule +3.8/10.0
• Condition / age +2.2/5.0
• 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

Fall in love with the original charm and detail retained in this adorable Craftsman style bungalow! Upper unit features natural woodwork and hardwood floors throughout. Living room with artificial fireplace and balcony with new railing. Dining room with leaded glass cabinet. Lower features same beautiful hardwood floors, an artificial fireplace, and stain glass windows. Private backyard with hidden fire pit creates your own oasis in the city! Perfect location walking distance to Collectivo, Honey Creek Parkway, Jacobus Park, and all the shops and restaurants that the Wauwatosa Village offers. Expand your investment portfolio or occupy and let your tenant pay your mortgage!

Key facts

• Updated bathrooms
• Sizeable balcony
• Hardwood floors

Tags

• HARDWOOD FLOORS
• CRAFTSMAN STYLE WOODWORK
• BRICK ARTIFICIAL FIREPLACE
• SIZEABLE BALCONY
• PERIOD LEADED GLASS BUILT-IN
• UPDATED BATHROOMS

Property features AI

Finance

• Financial info: Two-unit building

Exterior

• Parking: Detached 2-car garage with opener
• Utilities: Municipal water; Municipal sewer; Two electric meters; Two gas meters
• Home design: 2-story duplex; Multi-family property
• Construction: Wood construction
• Exterior features: Wood exterior; Lot smaller than 1/2 acre (0.14 acre); Residential zoning

Interior

• Kitchen: Each unit has a kitchen (Unit 2 kitchen 11 x 9); Stove and refrigerator included in both units
• Bedrooms: Each unit has 2 bedrooms; Unit 2 bedrooms located on the main level (master 12 x 10, second bedroom 11 x 10)
• Bathrooms: Each unit has 1 full bathroom
• Interior features: Full basement
• Laundry & utility: One set of washer and dryer included

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $400k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $4 ($45/yr) — positive. Per door: $2/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $350k (12.4% below list).
• Recommended offer: $350k (12.4% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 2.5% in Wauwatosa — 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 87/100 on livability (#19 in WI, #257 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+.
• Wauwatosa School District (suburban): math 45% / reading 52% proficiency, ranked #55 of 342 in WI (top 16%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Jefferson Elementary (math 57% / reading 52%, grade C, #166 of 1,041 statewide, top 20%, 238 students, 26% FRL); Longfellow Middle (math 41% / reading 53%, grade D+, #73 of 383 statewide, top 22%, 737 students, 18% FRL); East High (math 53% / reading 64%, grade C, #14 of 483 statewide, top 3%, 1,067 students, 20% FRL) — zoned schools at 21% FRL track the district average.
• Market conditions: Rents rising fast (+5.9%/yr); 52 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• This rent runs 41% of the median local income ($102k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($394k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y ago; this cycle's ask has dropped $25k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $264k; list at $400k implies a 51% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $350,300 (12.4% 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 1929 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.88% ✗
• Cap rate: 6.30%
• Cash-on-cash: 0.04%
• DSCR: 1.00
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $371,050
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6511 W Wisconsin Ave	0.25mi	4/2.0	1,974 (-4%)	17mo	$335,000	$170	68
619 N 63rd St	0.36mi	4/2.0	2,192 (+7%)	11mo	$435,000	$198	62
5607 W Wisconsin Ave #5609	0.72mi	4/2.0	2,048 (-0%)	6mo	$298,000	$146	61
176 N 69th St	0.58mi	4/2.0	1,912 (-7%)	7mo	$266,240	$139	56
552 N 62nd St	0.46mi	4/2.0	1,823 (-11%)	10mo	$312,000	$171	52
212 N 60th St	0.73mi	4/2.0	1,816 (-11%)	1mo	$340,000	$187	46
5727 W Wisconsin Ave #5729	0.64mi	4/2.0	2,301 (+12%)	4mo	$425,000	$185	46
5804 W Michigan Ave #5806	0.65mi	4/2.0	2,157 (+5%)	18mo	$220,000	$102	46
6621 W Saint Paul Ave	0.44mi	5/2.0 (+1)	1,824 (-11%)	16mo	$330,000	$181	43
344 N 68th St Unit 344A	0.45mi	5/3.0 (+1)	2,352 (+15%)	6mo	$425,000	$181	40
173 N 73rd St	0.68mi	4/2.0	1,766 (-14%)	20mo	$370,000	$210	29
6709 Milwaukee Ave	0.68mi	5/2.0 (+1)	2,349 (+15%)	15mo	$324,000	$138	27

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: -13.1%
• Equity multiple: 0.52×
• Total profit: $-54,141
• Equity at exit: $59,626

10-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-1,502
• Equity at exit: $34,576

Cash invested: $111,972 (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: 52
• Price-to-rent: 19.0×

Monthly cashflow live

• Estimated rent: $3,503 high
• Mortgage (P&I): −$2,097
• Tax est. 1.5%: −$500 /mo · $5,998/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$736
• Net cashflow: $4

Break-even live

Break-even rent $3,498

Max offer price $399,900

Occupancy floor 95%

Sensitivity live

Price	-10% $280	-5% $142	+0% $4	+5% $-134	+10% $-273
Rent	-10% $-273	-5% $-135	+0% $4	+5% $142	+10% $280
Rate	-1.0pp $205	-0.5pp $105	base $4	+0.5pp $-100	+1.0pp $-205

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,502
Total (2 units)			$3,503

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: $99,975
• Closing costs: $11,997
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6100 W State St Wauwatosa, WI	1.0–3.0	1.0–2.0	1160	$3,017	$2.60	3d	20	0.50mi
7400 W State St Milwaukee, WI	1.0–3.0	1.0–2.0	1106	$3,995	$3.61	4d	8	0.72mi
7474 Harwood Ave Wauwatosa, WI	3.0	1.0–3.0	999	$4,780	$4.78	5d	73	0.85mi
4802 W Wells St Unit 4802-1 Milwaukee, WI	3.0	2.0	1700	$1,799	$1.06	45d	1	1.16mi
185 N 90th St Milwaukee, WI	3.0	1.5	1500	$2,200	$1.47	16d	1	1.49mi

Listing history 16 events

1. 2026-06-15
   days on market $399,900 Active 26 DOM
2. 2026-06-13
   days on market $399,900 Active 24 DOM
3. 2026-06-09
   days on market $399,900 Active 20 DOM
4. 2026-06-08
   days on market $399,900 Active 19 DOM
5. 2026-06-07
   days on market $399,900 Active 18 DOM
6. 2026-06-05
   days on market $399,900 Active 15 DOM
7. 2026-06-03
   days on market $399,900 Active 14 DOM
8. 2026-06-02
   days on market $399,900 Active 13 DOM
9. 2026-06-02
   price $399,900 Active 12 DOM
10. 2026-06-01
    days on market $425,000 Active 12 DOM
11. 2026-05-31
    days on market $425,000 Active 11 DOM
12. 2026-05-20
    listed $425,000 Active
13. 2020-10-14
    soldstatus $264,500 Sold 681-char remark

    Show marketing remark (681 chars)

    Fall in love with the original charm and detail retained in this adorable Craftsman style bungalow! Upper unit features natural woodwork and hardwood floors throughout. Living room with artificial fireplace and balcony with new railing. Dining room with leaded glass cabinet. Lower features same beautiful hardwood floors, an artificial fireplace, and stain glass windows. Private backyard with hidden fire pit creates your own oasis in the city! Perfect location walking distance to Collectivo, Honey Creek Parkway, Jacobus Park, and all the shops and restaurants that the Wauwatosa Village offers. Expand your investment portfolio or occupy and let your tenant pay your mortgage!

14. 2020-10-12
    status Pending 681-char remark

    Show marketing remark (681 chars)

    Fall in love with the original charm and detail retained in this adorable Craftsman style bungalow! Upper unit features natural woodwork and hardwood floors throughout. Living room with artificial fireplace and balcony with new railing. Dining room with leaded glass cabinet. Lower features same beautiful hardwood floors, an artificial fireplace, and stain glass windows. Private backyard with hidden fire pit creates your own oasis in the city! Perfect location walking distance to Collectivo, Honey Creek Parkway, Jacobus Park, and all the shops and restaurants that the Wauwatosa Village offers. Expand your investment portfolio or occupy and let your tenant pay your mortgage!

15. 2020-09-12
    historical Contingent 681-char remark

    Show marketing remark (681 chars)

    Fall in love with the original charm and detail retained in this adorable Craftsman style bungalow! Upper unit features natural woodwork and hardwood floors throughout. Living room with artificial fireplace and balcony with new railing. Dining room with leaded glass cabinet. Lower features same beautiful hardwood floors, an artificial fireplace, and stain glass windows. Private backyard with hidden fire pit creates your own oasis in the city! Perfect location walking distance to Collectivo, Honey Creek Parkway, Jacobus Park, and all the shops and restaurants that the Wauwatosa Village offers. Expand your investment portfolio or occupy and let your tenant pay your mortgage!

16. 2020-09-04
    listed $259,900 Active 681-char remark

    Show marketing remark (681 chars)

    Fall in love with the original charm and detail retained in this adorable Craftsman style bungalow! Upper unit features natural woodwork and hardwood floors throughout. Living room with artificial fireplace and balcony with new railing. Dining room with leaded glass cabinet. Lower features same beautiful hardwood floors, an artificial fireplace, and stain glass windows. Private backyard with hidden fire pit creates your own oasis in the city! Perfect location walking distance to Collectivo, Honey Creek Parkway, Jacobus Park, and all the shops and restaurants that the Wauwatosa Village offers. Expand your investment portfolio or occupy and let your tenant pay your mortgage!

ⓘ 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,036
• − Mortgage interest: −$22,401
• − Property taxes: −$5,998
• − Insurance: −$2,000
• − Repairs & maintenance: −$3,363
• − Management: −$3,363
• − Depreciation: −$11,633
• Taxable loss: −$6,722
• Est. tax savings @ 24.0%: +$1,613
• After-tax cash flow: $1,658/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 · 6 photos

Fair 45/100 Moderate rehab

This two-unit bungalow style property requires moderate repairs to the exterior and roof, with potential for significant value increase through painting and landscaping improvements.

Repairs flagged

• Major roof — No visible damage, but may need inspection for leaks or damage.
• Moderate exterior siding — Siding appears weathered with some discoloration and minor peeling.

Value-add opportunities

• Both paint exterior — Fresh paint can significantly improve curb appeal and property value.
• Both landscaping — Well-maintained landscaping can enhance curb appeal and attract potential buyers/tenants.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · No visible damage, but may need inspection for leaks or damage.	Major	$15,000–50,000
exterior siding · Siding appears weathered with some discoloration and minor peeling.	Moderate	$3,000–15,000
Total estimated repair cost · 2 items		$18,000–65,000

Value-add ROI direction

• Both paint exterior — Fresh paint can significantly improve curb appeal and property value. ↑
• Both landscaping — Well-maintained landscaping can enhance curb appeal and attract potential buyers/tenants. ↑

ⓘ 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: Wauwatosa School District
• NCES district ID: 5515990
• Math proficiency: 45% ▼ -7.00%
• Reading proficiency: 52% ▼ -1.00%
• Median HH income: $69,017
• Composite: 43.34/100
• National rank: #3032
• State rank: #55 of 342 in WI

Livability — Wauwatosa

• Score: 87/100
• State rank: #19
• US rank: #257

Category grades

Amenities C+ Commute A+ Cost of living B+ Crime C+ Employment A+ Housing A+ Health & safety A+ User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wauwatosa, WI
• County: Milwaukee County · 926,379 people
• City population: 45,813
• 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

+63.5% since first listed

5 events — show timeline

• 2026-05-20 Listed $425,000 METROMLS
• 2020-10-14 Sold (MLS) $264,500 METROMLS
• 2020-10-12 Pending — METROMLS
• 2020-09-12 Contingent — METROMLS
• 2020-09-04 Listed $259,900 METROMLS