Understanding Your Monthly Payment for a $150,000 Duplex in Milwaukee County

Nov 17

By Victoria Ratliff

Buying a duplex in Milwaukee County can be an exciting investment. If you’re looking at a property priced at $150,000 with a 3% down payment, understanding your monthly payment is key to planning your budget.

1. Down Payment & Loan Amount

Purchase Price: $150,000
Down Payment (3%): $4,500
Loan Amount: $145,500

2. Monthly Mortgage Estimate

Assuming a 30-year fixed mortgage at 6% interest, your principal & interest payment would be approximately:

$872/month

3. Property Taxes & Insurance

Property Taxes (2% annually): $250/month
Homeowner’s Insurance: $100/month

4. Total Monthly Payment

ComponentMonthly CostPrincipal & Interest$872Property Taxes$250Homeowner’s Insurance$100Total Monthly Payment$1,222

Note: With a 3% down payment, you may also have private mortgage insurance (PMI), which could add $100–$150/month.

5. Rental Income Scenario

A duplex can offset your costs if you rent out one unit. For example, if you rent one side for $800/month:

1,222−800=422 net monthly cost

This reduces your out-of-pocket expense to $422/month, making homeownership more manageable.

6. Visual Breakdown

Monthly Payment Breakdown (Without Rental Income)

Principal & Interest: 71%
Property Taxes: 20%
Insurance: 9%

Monthly Payment After Renting One Unit

Owner Expense: 35%
Renter Contribution: 65%

7. Key Takeaways

Low Upfront Cost: $4,500 down can get you into a duplex.
Manageable Monthly Payment: $1,222/month before rental income.
Rental Income Advantage: Renting one unit significantly reduces monthly expenses.

Buying a duplex in Milwaukee County can be a smart step toward building wealth and offsetting housing costs. Always consult with a mortgage lender to get numbers tailored to your financial situation.

Victoria is a full-time Realtor specializing in residential real estate with McKenna Real Estate. Through her professional experience in finance and logistics, she has developed the knowledge and experience to assist her clients through the purchase and sale process. As a lifelong native of Milwaukee, Victoria has developed an extensive knowledge of the City and all of its unique neighborhoods. Along with her professional experience, Victoria's brings a driven and focused approach to each transaction. Whether you're buying or selling, Victoria can assist you throughout the process. **(262) 336-1191**
**Victoria@McKennaBroker.com**

Paul McKenna