3724 N 57th St · Milwaukee, WI 53216

$223,900

4 bd · 2.0 ba · 2,180 sqft · MultiFamily public records · 61 Days on market

Built 1948 4,791 sqft lot Est $233k · 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 +24.5/30.0
• ARV discount +9.3/15.0
• DSCR +7.9/10.0
• 1% rule +6.5/10.0
• Appreciation +5.7/10.0
• Rent growth +4.3/5.0
• Livability +4.0/5.0
• Condition / age +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: 2 units. confirmed

Listing remarks

Well-maintained brick duplex featuring 2 bedrooms in each unit with spacious layouts designed for comfortable living. Both units include separate dining rooms, ceramic tile bathrooms, and beautiful hardwood flooring that adds warmth and character throughout. Solid brick construction provides durability and classic curb appeal. Ideal opportunity for owner-occupants or investors looking for a property with strong rental appeal and functional floor plans. A great addition to any portfolio or a perfect chance to live in one unit while generating income from the other.

Key facts

• Hardwood flooring
• Brick duplex
• 4,791 sq ft lot

Tags

• BRICK DUPLEX
• SEPARATE DINING ROOMS
• CERAMIC TILE BATHROOMS
• HARDWOOD FLOORING
• SOLID BRICK CONSTRUCTION
• FUNCTIONAL FLOOR PLANS

Property features AI

Finance

• Financial info: Two units in the building

Exterior

• Parking: Detached 2-car garage (2 garage parking spaces)
• Utilities: Municipal water; Municipal sewer
• Home design: 2-story duplex; Multi-family property
• Construction: Brick/stone construction
• Exterior features: Brick exterior; Lot size about 0.11 acres; Zoned RES

Interior

• Kitchen: Unit 2 kitchen on upper level (approx. 13 x 9)
• Bedrooms: Unit 1: 4 bedrooms; Unit 2: 2 bedrooms (master on upper level; second bedroom on upper level)
• Bathrooms: Unit 1: 2 full bathrooms; Unit 2: 1 full bathroom
• Interior features: Full block basement
• Laundry & utility: Two electric meters; Two gas meters

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $224k.

Deal economics

• At list price, monthly cash flow is $460 ($6k/yr) — positive. Per door: $230/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $224k).
• Recommended offer: $210k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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 (+7.0%/yr); 130 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $2,583/mo this rent would consume 66% of the median local household income ($47k/yr) (locally 2202% 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 $5k of equity ($2k loan paydown + $3k appreciation (1.3% local appreciation)).
• Milwaukee County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (1.3% appreciation + 7.0% rent growth), your $63k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($210k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $88k; list at $224k implies a 156% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $210,466 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.15% ✓
• Cap rate: 8.76%
• Cash-on-cash: 8.80%
• DSCR: 1.39
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $233,260
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3628 N 58th Blvd #3630	0.09mi	4/2.0	1,932 (-11%)	2mo	$192,000	$99	75
5601 W Philip Pl #5603	0.36mi	3/2.0 (-1)	2,224 (+2%)	0mo	$265,000	$119	75
5601 W Brooklyn Pl	0.45mi	3/2.0 (-1)	2,186 (+0%)	1mo	$310,000	$142	72
3616 N 55th St #3618	0.14mi	3/2.0 (-1)	1,977 (-9%)	2mo	$185,000	$94	71
3535 N 57th St #3537	0.11mi	4/2.0	2,407 (+10%)	12mo	$259,000	$108	67
3832 N 53rd St #3834	0.28mi	4/2.0	2,441 (+12%)	2mo	$230,000	$94	65
5733 W Philip Pl	0.44mi	4/2.0	2,041 (-6%)	10mo	$217,500	$107	61
3041 N 56th St	0.74mi	4/2.0	2,117 (-3%)	5mo	$119,900	$57	57
3069 N 52nd St	0.75mi	4/2.0	2,213 (+2%)	8mo	$180,000	$81	56
3280 N 54th St #3282	0.47mi	4/2.0	2,494 (+14%)	2mo	$340,000	$136	53
3128 N 52nd St #3130	0.70mi	4/2.0	2,400 (+10%)	0mo	$283,000	$118	50
3145 N 50th St #3147	0.72mi	4/2.0	2,316 (+6%)	8mo	$244,500	$106	49

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

Projected returns pro-forma

1.33% appreciation · 7.01% rent growth · sell at horizon

5-year hold

• IRR: 14.3%
• Equity multiple: 1.77×
• Total profit: $48,004
• Equity at exit: $80,285

10-year hold

• IRR: 20.0%
• Equity multiple: 3.79×
• Total profit: $174,656
• Equity at exit: $109,735

Cash invested: $62,692 (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 53216

• Home prices YoY: 0.3%
• Rents YoY: 7.0%
• Active inventory: 130
• Price-to-rent: 14.4×

Monthly cashflow live

• Estimated rent: $2,583 high
• Mortgage (P&I): −$1,174
• Tax from tax record: −$313 /mo · $3,758/yr
• Insurance: −$93
• HOA: −$0
• Vacancy / Maint / Mgmt: −$542
• Net cashflow: $460

Break-even live

Break-even rent $2,001

Max offer price $223,900

Occupancy floor 77%

Sensitivity live

Price	-10% $587	-5% $523	+0% $460	+5% $397	+10% $333
Rent	-10% $256	-5% $358	+0% $460	+5% $562	+10% $664
Rate	-1.0pp $573	-0.5pp $517	base $460	+0.5pp $402	+1.0pp $343

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$2,582
Total (2 units)			$2,583

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: $55,975
• Closing costs: $6,717
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4079 N 63rd St Milwaukee, WI	3.0	1.0	1600	$1,595	$1.00	21d	1	0.59mi
2976 N 49th St Milwaukee, WI	3.0	1.0	1700	$1,300	$0.76	18d	1	0.94mi
3123 N 42nd St Milwaukee, WI	4.0	1.0	1500	$1,700	$1.13	25d	1	1.12mi
2713 N 44th St Milwaukee, WI	3.0	1.0	1450	$1,350	$0.93	45d	1	1.38mi
4900 N 58th St Milwaukee, WI	3.0	1.0	1455	$1,450	$1.00	6d	1	1.49mi

Listing history 5 events

1. 2026-05-05
   status Pending
2. 2026-04-14
   historical Contingent
3. 2026-03-04
   listed $223,900 Active
4. 2001-05-25
   soldstatus $87,500
5. 1978-11-01
   soldstatus $60,000

ⓘ 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: $3,758 · $313/mo
• Projected year-2 tax: $3,950 · $329/mo
• Expected delta: +$192/yr (+$16/mo · 5.1%)

ⓘ 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 ≥100°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,996
• − Mortgage interest: −$12,542
• − Property taxes: −$3,758
• − Insurance: −$1,120
• − Repairs & maintenance: −$2,480
• − Management: −$2,480
• − Depreciation: −$6,513
• Taxable income: $2,104
• Est. tax owed @ 24.0%: −$505
• After-tax cash flow: $5,015/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): 30,345
• Household income: $46,752
• Rent vs Own: 52.7% rent · 47.3% own
• Severe rent burden: 2202.0

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 (81%)
• Race & ethnicity: Black 81% White 9% Hispanic / Latino 5% Two or more races 5% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 1%
• Foreign-born: 3% · Canada, Philippines, China
• Languages at home: 93% English-only · Spanish 4% Other Asian/Pacific 2%

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: ▲ 1.33%
• Current HPI: 381.0954
• Rent YoY: ▲ 7.01%
• 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

+273.2% since first listed

5 events — show timeline

• 2026-05-05 Pending — METROMLS
• 2026-04-14 Contingent — METROMLS
• 2026-03-04 Listed $223,900 METROMLS
• 2001-05-25 Sold (Public Records) $87,500 Public Records
• 1978-11-01 Sold (Public Records) $60,000 Public Records

Property tax history

+2.9%/yr

Latest (2024): $3,758 · +14.3% YoY. Source: county tax records.