Milwaukee Duplex - Are my numbers accurate?

21 Replies

2/2 BR Duplex, $150,000 sell price

* Rents $800/month=$1600/month both units


Mortgage ($150K @5%-budgeting high) $853/month


Lawn/Snow $45/month

PM-$$160/month (10%)

Utilities-Tenant pays all

Insurance $100/month

Garbage $30/month

10% vacancy (1,920)

Total Expenses $1473/month

Income $1600

Net income  -$33.50/month. loses money from what I can see. Any thoughts on what I am missing?


What zip for property ?

Please do not post address of property

For example zip code 53209

$150,000 : I'm guessing around 9 to 16 unit multi-family

Zip code 53154

$150,000 : I'm guessing duplex or SFR

Not to be mean or disrespectful :


Go to a window

Open the window and smell the Badgerland fresh air.

Take your money and everyone in the room cash and throw it out the window.

That what is going to occur for $150,000 in Washington Heights 

Neighborhood/ zip code 53208.

Basically $150,000 would be Retail pricing versus investor deals in zip code 53208.

Please add extra monthly percentage for Capex ( property age via Washington Heights )

Only my two cents

Why do you think this zip code in Milwaukee is so bad? I am looking into this zip code as well, just on the west side of highway 41. 

Without knowing the exact address, that price does sound a bit high.  Is the building older?

Price does seem high unless it's on Washington or Hi Mount Blvd. maybe.  

that is not high if it is on the western side of 41. 

example only:


If the property was located on 21** North 25th Street, Milwaukee, Wisconsin 53208

Yes, I totally feel you’re over paying 

Only my opinion

hi thanks for all the feedback. It is on th east side of 41 and considering it does not cash flow makes it a bad deal In addition to all of your feedback. Was i calculating this right and/or missing any expenses?

Also appreciate your thoughts and humor @Jenkins Ramon!

@Douglass Belt I would say for the east side of 41 you are overpaying. I have a few properties on the west side of 41 and haven't paid quite that much. In my opinion for 2/2 duplex I think you are right on with the rent assuming west of 41, but for me I would need to be right around $100k to cash flow a little bit. 

I'd be happy to talk further about that area as it has been my focus for the last few years, though I am by no means an expert.

@Tim A. Do you have any properties west of 41 yet?

I do not. I am prepared to make a move though this summer.  @Dave Carpenter, all the 2/2 duplexes I've seen just west of 41 in Washington heights have been listed for around 150k, which is 150% above where you thought you would feel comfortable there. Do you think this is a viable place for rental income any more?

@Tim A. I have seen some below the $150 price point, but not many, and they move fast. I think the market may be getting a bit too high, or will in the near future. I do like the area though. It's affordable but has a good tenant base.

@Douglass Belt

 the only thing I see wrong with your numbers is that with a duplex water is not usually metered separatly, so you would pay that, and trash is included in your tax bill

@Douglass Belt I drive through that neighborhood daily.  If you insure @150k, have curcuit breakers and a decent roof, your premiums should be closer to $50-$60 per month.

This post has been removed.


@Jason Bott Thanks for that info. I was guessing based on other premiums for similar properties.

@Brie Schmidt - Thanks for the input- I did not know Duplexes there were not sub metered. Is that pretty typical in MKE?? I know in Madison, and the Twin Cities, they are all metered separately for water.

@Dave Carpenter Thanks for your feedback. It is good to know the rent range was accurate. I would ideally like to get a 3BR Duplex per unit, which seems more scarce. Is that area Milwaukee a decent one? It seems west of 41 is better than east?? Do you see it changing and if so, in which direction? Thanks again for all the feedback!

Only a quarter mile to the west of there you will be getting into the very up and coming Wauwatosa market.  

@Douglass Belt I think the Washington heights neighborhood is a good area for investing. It is nearby Wauwatosa so you can benefit from the restaurants and other desirable parts of the city without having to pay the same cost. Certainly Tosa is nicer but I have had great luck with strong white collar type tenants. I have also noticed that rents are about the same between the heights and Tosa. 

In my opinion west of 41 is totally different that east of 41, and frankly I would stay away from 47th which looks over the highway. I have not even really looked east or north of 41, but from crime maps and the feel of the neighborhood I would look at it differently both from a cost standpoint and from a quality of tenant standpoint. Just my 2 cents.

@Dave Carpenter

Are there particular zip codes in that area (West of 41) that you would look at? Where are some good resources for deals? Again, thanks for all the help and feedback!! 

@Tim A. thanks for that tip! West of 41 and north of Bluemound/18? What do you think of the Butler area?

thanks again-this is very helpful!!

 @Dave Carpenter is right about the differences between the 2 areas.  I live in Tosa and work downtown, so I drive up and down Vliet and North in the mornings and around 5.  The crowd walking the street in both of these neighborhoods tells the story.

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