5011 N 26th St · Milwaukee, WI 53209

$160,000

4 bd · 2.0 ba · 1,725 sqft · MultiFamily public records · 6 Days on market

Built 1929 6,098 sqft lot Est $143k · 12% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.7/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• ARV discount +2.2/15.0
• 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 MLS

INVESTORS! Positive cash, flow a total of $2500 per month coming in. Upper $1400 Lower $1100 both are section 8. Upper has 3 bedroom , 2 in the lower. Nicely remodeled with lots of natural woodwork, french doors, new wood flooring, fixtures, paint and more. Each unit has their own utility meters, furnace and water heater heaters. Large porch both upper and lower. Close to public transit and shopping. Both units are rented with 12 month leases and need a 24hr notice for showings.

Key facts

• 6,098 sq ft lot
• 2 garage spots
• Built 1929

Property features AI

Finance

• Other: Both units included in sale; Current tenants' personal property excluded

Exterior

• Parking: Detached 2-car garage
• Utilities: Municipal water; Municipal sewer
• Home design: 1.5-story multi-family building; Two-unit property
• Construction: Aluminum exterior; Assessor/public record for year built
• Exterior features: Aluminum/steel siding; Lot size approximately 0.14 acre; Zoned RS6; Less than 1/2 acre

Interior

• Kitchen: Both units include stove and refrigerator; Unit 2 kitchen located on upper level
• Bedrooms: Unit 1: 3 bedrooms; Unit 2: 2 bedrooms (master and second bedroom on upper level)
• Bathrooms: Unit 1: 1 full bath; Unit 2: 1 full bath
• Interior features: Full block basement
• Laundry & utility: 2 electric meters; 2 gas meters

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $160k.

Deal economics

• At list price, monthly cash flow is $919 ($11k/yr) — positive. Per door: $459/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $160k).
• Cap rate 13.2% 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 (+8.6%/yr); 168 active listings in the ZIP; 7 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 $2,578/mo this rent would consume 64% of the median local household income ($48k/yr) (locally 3390% 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 $5k 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 $45k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 3y ago 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 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $160,000

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 1929 — 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: 1.61% ✓
• Cap rate: 13.18%
• Cash-on-cash: 24.61%
• DSCR: 2.09
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $143,175
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5011 N 26th St	0.00mi	5/2.0 (+1)	1,725 (0%)	14mo	$145,000	$84	83
5021 N 27th St	0.06mi	5/2.0 (+1)	1,630 (-6%)	5mo	$135,000	$83	78
4951 N 24th St Unit 4951A	0.20mi	4/2.0	1,692 (-2%)	16mo	$100,000	$59	74
5241 N 31st St	0.42mi	4/2.0	1,657 (-4%)	2mo	$104,000	$63	72
5151 N 31st St	0.35mi	4/2.0	1,742 (+1%)	14mo	$168,000	$96	71
4648 N 28th St	0.47mi	3/2.0 (-1)	1,713 (-1%)	13mo	$70,500	$41	60
3130 W Cameron Ave Unit 3130A	0.37mi	5/2.0 (+1)	1,543 (-11%)	0mo	$165,000	$107	60
3202 W Fairmount Ave Unit 3202A	0.38mi	4/2.0	1,614 (-6%)	15mo	$102,400	$63	59
4729 N 19th Pl Unit 4729A	0.62mi	3/2.0 (-1)	1,761 (+2%)	9mo	$195,000	$111	55
4703 N 35th St	0.71mi	4/2.0	1,789 (+4%)	9mo	$147,500	$82	53
4839 N 18th St	0.67mi	4/2.0	1,886 (+9%)	2mo	$160,000	$85	51
5342 N 35th St	0.68mi	4/2.0	1,843 (+7%)	10mo	$90,000	$49	49

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: 23.6%
• Equity multiple: 2.03×
• Total profit: $46,252
• Equity at exit: $23,857

10-year hold

• IRR: 34.5%
• Equity multiple: 4.97×
• Total profit: $177,812
• Equity at exit: $13,834

Cash invested: $44,800 (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 53209

• Rents YoY: 8.6%
• Active inventory: 168
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $2,578 high
• Mortgage (P&I): −$839
• Tax from tax record: −$212 /mo · $2,547/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$541
• Net cashflow: $919

Break-even live

Break-even rent $1,415

Max offer price $160,000

Occupancy floor 59%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,578
Total (2 units)			$2,578

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5032 N 32nd St Milwaukee, WI	3.0	2.0	1089	$1,750	$1.61	12d	1	0.33mi
5541 N 35th St #5543 Milwaukee, WI	3.0	1.0	1130	$1,195	$1.06	4d	1	0.84mi
4334 W Eggert Pl Milwaukee, WI	4.0	1.0	1077	$1,695	$1.57	24d	1	1.10mi
4340 W Eggert Pl Milwaukee, WI	4.0	1.0	1066	$1,695	$1.59	24d	1	1.11mi
4702 N 44th St Milwaukee, WI	3.0	2.0	1050	$1,850	$1.76	44d	1	1.18mi
2116 W Atkinson Ave Unit A Milwaukee, WI	4.0	1.0	1707	$2,000	$1.17	2d	1	1.25mi
5073 N 48th St Milwaukee, WI	4.0	1.0	1152	$1,595	$1.38	15d	1	1.36mi

Listing history 7 events

1. 2026-06-18
   days on market $160,000 Active 6 DOM
2. 2026-06-17
   days on market $160,000 Active 5 DOM
3. 2026-06-16
   days on market $160,000 Active 4 DOM
4. 2026-06-15
   days on market $160,000 Active 3 DOM
5. 2026-06-13
   remarks 303-char remark
6. 2026-06-13
   remarks 194-char remark
7. 2026-06-13
   listed $160,000 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: $2,547 · $212/mo
• Projected year-2 tax: $2,754 · $229/mo
• Expected delta: +$206/yr (+$17/mo · 8.1%)

ⓘ 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 ≥98°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,936
• − Mortgage interest: −$8,962
• − Property taxes: −$2,547
• − Insurance: −$800
• − Repairs & maintenance: −$2,475
• − Management: −$2,475
• − Depreciation: −$4,655
• Taxable income: $9,022
• Est. tax owed @ 24.0%: −$2,165
• After-tax cash flow: $8,858/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): 45,170
• Household income: $48,486
• Rent vs Own: 56.2% rent · 43.8% own
• Severe rent burden: 3390.0

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 (66%)
• Race & ethnicity: Black 66% White 22% Hispanic / Latino 5% Two or more races 5% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 3% Portuguese 1% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 4% Other Asian/Pacific 1% Russian/Polish/Slavic 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: ▼ -194.98%
• Current HPI: 172.4275
• Rent YoY: ▲ 8.61%
• 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

+264.5% since first listed

10 events — show timeline

• 2026-06-12 Listed $160,000 METROMLS
• 2025-04-10 Sold (Public Records) $145,000 Public Records
• 2025-04-08 Sold (MLS) $145,000 METROMLS
• 2025-02-23 Pending — METROMLS
• 2025-02-20 Listed $139,900 METROMLS
• 2024-01-19 Sold (Public Records) $41,000 Public Records
• 2024-01-12 Sold (MLS) $41,000 METROMLS
• 2023-12-25 Listing Removed — METROMLS
• 2023-12-25 Listed $41,000 METROMLS
• 1983-04-01 Sold (Public Records) $43,900 Public Records

Property tax history

+1.4%/yr

Latest (2024): $2,547 · +16.8% YoY. Source: county tax records.