3249 N 13th St · Milwaukee, WI 53206

$7,500

4 bd · 2.0 ba · 2,160 sqft · MultiFamily public records · 68 Days on market

Built 1916 3,920 sqft lot $3/sqft · 88% below area

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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 +15.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.6/5.0
• 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 MLS

2/2 duplex offers a renovation opportunity. City of Milwaukee Tax Foreclosure Property. Scope of work is $80,6000. Essential scope of work is $64,300. Pre-approval or proof of funds REQUIRED with all offers & must cover purchase price plus Essential Repairs (see scope). Buyer must complete Essential Repairs within 180 days & have City provide proof of completion for performance deposit return. Property is being sold in AS-IS Condition.

Key facts

• 3,920 sq ft lot
• Parking
• Built 1916

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $8k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $775/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $8k).
• Recommended offer: $7k (6.0% below list) — sets the bar for market timing.
• Cap rate 254.2% 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 (+8.3%/yr); 150 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $2,027/mo this rent would consume 83% of the median local household income ($29k/yr) (locally 2061% 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 $802 of equity ($52 loan paydown + $750 appreciation (10.0% local appreciation)).
• Milwaukee County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 8.0% rent growth), your $2k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($7k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 14y ago; this cycle's ask has dropped $2k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $7,050 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 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 1916 — 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: 27.03% ✓
• Cap rate: 254.21%
• Cash-on-cash: 885.43%
• DSCR: 40.40
• GRM: 0.3

CMA / ARV

• ARV (median comp): $64,303
• List price: $7,500
• Delta: -88.34%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3283 N 14th St #3285	0.09mi	4/2.0	2,044 (-5%)	2mo	$80,000	$39	85
3266 N 17th St	0.23mi	4/2.0	2,322 (+8%)	2mo	$185,000	$80	76
3748 N 17th St	0.60mi	4/2.0	2,161 (0%)	2mo	$80,000	$37	71
1304 W Ring St Unit 1304A	0.02mi	5/2.0 (+1)	1,851 (-14%)	1mo	$70,000	$38	69
2020 W Hopkins St	0.52mi	4/2.0	2,050 (-5%)	0mo	$105,000	$51	67
3615 N 13th St	0.42mi	4/2.0	2,326 (+8%)	1mo	$90,000	$39	67
3202 N 24th St #3204	0.73mi	4/2.0	2,169 (+0%)	2mo	$165,000	$76	63
3607 N 20th St	0.64mi	4/2.0	2,046 (-5%)	2mo	$115,000	$56	59
3382 N 23rd St #3384	0.70mi	4/2.0	2,266 (+5%)	0mo	$152,435	$67	59
3381 N 21st St #3383	0.60mi	4/2.0	2,364 (+9%)	2mo	$71,000	$30	55
2022 W Keefe Ave Unit 2022A	0.62mi	4/2.0	1,914 (-11%)	1mo	$55,000	$29	52
3905 N 13th St #3907	0.70mi	4/2.0	1,884 (-13%)	2mo	$144,500	$77	45

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

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 55.06×
• Total profit: $113,516
• Equity at exit: $6,757

10-year hold

• IRR: —
• Equity multiple: 135.89×
• Total profit: $283,277
• Equity at exit: $14,571

Cash invested: $2,100 (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 53206

• Rents YoY: 8.3%
• Active inventory: 150
• Price-to-rent: 0.6×

Monthly cashflow live

• Estimated rent: $2,027 high
• Mortgage (P&I): −$39
• Tax est. 1.5%: −$9 /mo · $112/yr
• Insurance: −$3
• HOA: −$0
• Vacancy / Maint / Mgmt: −$426
• Net cashflow: $1,549

Break-even live

Break-even rent $66

Max offer price $7,500

Occupancy floor 19%

Sensitivity live

Price	-10% $1,555	-5% $1,552	+0% $1,549	+5% $1,547	+10% $1,544
Rent	-10% $1,389	-5% $1,469	+0% $1,549	+5% $1,630	+10% $1,710
Rate	-1.0pp $1,553	-0.5pp $1,551	base $1,549	+0.5pp $1,548	+1.0pp $1,546

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,028
Total (2 units)			$2,027

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: $1,875
• Closing costs: $225
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3420-22 N Vel R Phillips Ave Milwaukee, WI	3.0	1.0	2756	$1,195	$0.43	44d	1	0.68mi
3420 N Vel R. Phillips Ave Unit 3422 Milwaukee, WI	3.0	1.0	2756	$1,195	$0.43	44d	1	0.69mi
2704 W Concordia Ave Unit Na Milwaukee, WI	5.0	2.0	1856	$2,500	$1.35	24d	1	0.99mi
3042 N Palmer St #5 Milwaukee, WI	3.0	1.0	1718	$1,050	$0.61	24d	1	1.00mi
2308 W Clarke St Milwaukee, WI	4.0	2.0	1545	$1,750	$1.13	24d	1	1.07mi
2634 N Doctor M.L.K. Jr Dr Milwaukee, WI	5.0	2.5	2512	$3,700	$1.47	44d	1	1.07mi
312 E Townsend St Unit 312 Milwaukee, WI	3.0	1.0	1400	$1,250	$0.89	24d	1	1.07mi
2116 W Atkinson Ave Unit A Milwaukee, WI	4.0	1.0	1707	$2,000	$1.17	2d	1	1.09mi
2809 W Clarke St Unit 12811 Milwaukee, WI	3.0	1.0	1400	$1,200	$0.86	17d	1	1.36mi
2432 N 28th St Milwaukee, WI	5.0	1.5	1876	$1,600	$0.85	44d	1	1.46mi

Listing history 10 events

1. 2026-05-12
   status Pending 451-char remark

   Show marketing remark (451 chars)

   2/2 duplex offers a renovation opportunity. City of Milwaukee Tax Foreclosure Property. Scope of work is $80,6000. Essential scope of work is $64,300. Pre-approval or proof of funds REQUIRED with all offers & must cover purchase price plus Essential Repairs (see scope). Buyer must complete Essential Repairs within 180 days & have City provide proof of completion for performance deposit return. Property is being sold in AS-IS Condition.

2. 2026-05-04
   price $7,500 451-char remark

   Show marketing remark (451 chars)

   2/2 duplex offers a renovation opportunity. City of Milwaukee Tax Foreclosure Property. Scope of work is $80,6000. Essential scope of work is $64,300. Pre-approval or proof of funds REQUIRED with all offers & must cover purchase price plus Essential Repairs (see scope). Buyer must complete Essential Repairs within 180 days & have City provide proof of completion for performance deposit return. Property is being sold in AS-IS Condition.

3. 2026-03-04
   listed $10,000 Active 451-char remark

   Show marketing remark (451 chars)

   2/2 duplex offers a renovation opportunity. City of Milwaukee Tax Foreclosure Property. Scope of work is $80,6000. Essential scope of work is $64,300. Pre-approval or proof of funds REQUIRED with all offers & must cover purchase price plus Essential Repairs (see scope). Buyer must complete Essential Repairs within 180 days & have City provide proof of completion for performance deposit return. Property is being sold in AS-IS Condition.

4. 2026-02-17
   status Pending 238-char remark

   Show marketing remark (238 chars)

   This is a tax foreclosed property. For the first 30-days of the listing period, no offers below the listing price will be considered per Wisconsin Foreclosure Law. Owner Occupants will be prioritized. BIDS DUE FEBRUARY 16, 2026 AT 10:00am

5. 2026-02-17
   historical 238-char remark

   Show marketing remark (238 chars)

   This is a tax foreclosed property. For the first 30-days of the listing period, no offers below the listing price will be considered per Wisconsin Foreclosure Law. Owner Occupants will be prioritized. BIDS DUE FEBRUARY 16, 2026 AT 10:00am

6. 2026-01-12
   listed $57,800 Active 238-char remark

   Show marketing remark (238 chars)

   This is a tax foreclosed property. For the first 30-days of the listing period, no offers below the listing price will be considered per Wisconsin Foreclosure Law. Owner Occupants will be prioritized. BIDS DUE FEBRUARY 16, 2026 AT 10:00am

7. 2012-10-10
   historical
8. 2012-10-10
   listed $89,900
9. 2012-10-09
   listed $56,000
10. 2012-10-09
    historical

ⓘ 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 ≥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: $24,324
• − Mortgage interest: −$420
• − Property taxes: −$112
• − Insurance: −$38
• − Repairs & maintenance: −$1,946
• − Management: −$1,946
• − Depreciation: −$218
• Taxable income: $19,644
• Est. tax owed @ 24.0%: −$4,715
• After-tax cash flow: $13,879/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): 19,887
• Household income: $29,336
• Rent vs Own: 67.8% rent · 32.2% own
• Severe rent burden: 2061.0

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 (91%)
• Race & ethnicity: Black 91% Two or more races 3% White 3% Hispanic / Latino 3%
• Common ancestry: Norwegian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 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: ▲ 133.03%
• Current HPI: 397.7151
• Rent YoY: ▲ 8.28%
• 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

-86.6% since first listed

10 events — show timeline

• 2026-05-12 Pending — METROMLS
• 2026-05-04 Price Changed $7,500 METROMLS
• 2026-03-04 Listed $10,000 METROMLS
• 2026-02-17 Pending — METROMLS
• 2026-02-17 Listing Removed — METROMLS
• 2026-01-12 Listed $57,800 METROMLS
• 2012-10-10 Listed $89,900 METROMLS
• 2012-10-10 Listing Removed — METROMLS
• 2012-10-09 Listing Removed — METROMLS
• 2012-10-09 Listed $56,000 METROMLS

Property tax history

+2.7%/yr

Latest (2024): $1,238 · -90.9% YoY. Source: county tax records.