3872 N 36th St · Milwaukee, WI 53216

$165,000

3 bd · 2.0 ba · 1,433 sqft · MultiFamily public records · 22 Days on market

Built 1943 4,791 sqft lot Est $158k · at est.

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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 +19.9/30.0
• DSCR +6.3/10.0
• 1% rule +5.9/10.0
• Appreciation +5.7/10.0
• ARV discount +5.4/15.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Online auction ending June 19th. Living room, kitchen, 2 bedrooms and 1 bath in main floor unit. Kitchen, living room, bedroom and bathroom complete the upper unit. Access to laundry in unfinished basement. Storage building with alley access. Updated in the past 10 years. New furnaces for both units and updated hot water heaters. Selling As-Is.

Key facts

• 4,791 sq ft lot
• Built 1943
• Listed 22 days

Property features AI

Finance

• Financial info: Total taxes listed

Exterior

• Parking: Outside parking
• Utilities: Municipal water; Municipal sewer
• Home design: Multi-family duplex; 2-story / bi-level design; Lot under 1/2 acre (approx. 0.11 acre); Zoned for 2-family/duplex
• Construction: Finished living area estimated between 1,251 and 1,500 sq ft; Finished below grade: none
• Exterior features: Vinyl exterior

Interior

• Kitchen: Unit 2 kitchen approx. 12 x 14
• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 1 bedroom (master approx. 11 x 12)
• Bathrooms: Unit 1: 1 full bathroom; Unit 2: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Full block basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $165k.

Deal economics

• At list price, monthly cash flow is $201 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $163k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.8% 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); 126 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $1,804/mo this rent would consume 46% 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 $3k of equity ($1k loan paydown + $2k 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 $46k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $24k; list at $165k implies a 579% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1943 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $162,525 (1.5% below list)

Questions for the listing agent

1. Built in 1943 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.09% ✓
• Cap rate: 7.75%
• Cash-on-cash: 5.21%
• DSCR: 1.23
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $157,630
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3946 N 36th St	0.09mi	3/2.0	1,532 (+7%)	16mo	$128,888	$84	72
3955 N 30th St #3957	0.37mi	4/2.0 (+1)	1,568 (+9%)	1mo	$190,000	$121	61
3737 N 27th St Unit 3737A	0.56mi	4/2.0 (+1)	1,510 (+5%)	14mo	$40,000	$26	48
4131 N 41st St	0.46mi	3/2.0	1,638 (+14%)	11mo	$180,650	$110	46

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: 10.6%
• Equity multiple: 1.57×
• Total profit: $26,187
• Equity at exit: $59,165

10-year hold

• IRR: 16.7%
• Equity multiple: 3.33×
• Total profit: $107,651
• Equity at exit: $80,868

Cash invested: $46,200 (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: 126
• Price-to-rent: 15.2×

Monthly cashflow live

• Estimated rent: $1,804 high
• Mortgage (P&I): −$865
• Tax from tax record: −$290 /mo · $3,485/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$379
• Net cashflow: $201

Break-even live

Break-even rent $1,550

Max offer price $165,000

Occupancy floor 84%

Sensitivity live

Price	-10% $294	-5% $247	+0% $201	+5% $154	+10% $107
Rent	-10% $58	-5% $129	+0% $201	+5% $272	+10% $343
Rate	-1.0pp $284	-0.5pp $243	base $201	+0.5pp $158	+1.0pp $114

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,804
Total (2 units)			$1,804

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3871-3873 N 36th St Unit 3871 Milwaukee, WI	2.0	1.0	987	$950	$0.96	24d	1	0.05mi
3630 W Nash St Milwaukee, WI	2.0	1.0	1000	$1,200	$1.20	24d	1	0.25mi
3925 N 42nd St Milwaukee, WI	2.0	1.0	985	$1,400	$1.42	24d	1	0.39mi
3925 N 42nd St Milwaukee, WI	3.0	1.0	1300	$1,675	$1.29	44d	1	0.39mi
3606 N 41st St Unit 3608 Milwaukee, WI	2.0	1.0	1095	$975	$0.89	44d	1	0.44mi
3890 N Sherman Blvd Milwaukee, WI	2.0	1.0	950	$1,100	$1.16	13d	1	0.44mi
3347 N 29th St Unit 3347A Milwaukee, WI	2.0	1.0	950	$845	$0.89	15d	1	0.68mi
4227 N 26th St Milwaukee, WI	2.0	1.0	950	$1,000	$1.05	17d	1	0.71mi
3388 N 27th St Unit 3388 Front House Milwaukee, WI	4.0	1.0	1212	$1,550	$1.28	5d	1	0.74mi
3340 N 44th St Milwaukee, WI	2.0	1.0	900	$1,295	$1.44	13d	1	0.75mi
4355 N 28th St Milwaukee, WI	2.0	1.0	1118	$975	$0.87	21d	1	0.76mi
2821 W Concordia Ave Milwaukee, WI	3.0	1.5	1098	$1,595	$1.45	2d	1	0.77mi
3214 N 41st St Milwaukee, WI	2.0	1.0	900	$1,250	$1.39	44d	1	0.80mi
3148 N 39th St Milwaukee, WI	2.0	1.0	1100	$1,100	$1.00	44d	1	0.83mi
3148 N 39th St Unit 1 Milwaukee, WI	2.0	1.0	1000	$1,100	$1.10	15d	1	0.83mi
3124 N 33rd St Milwaukee, WI	2.0	1.0	1200	$1,200	$1.00	44d	1	0.86mi
3122 N 42nd St Milwaukee, WI	3.0	1.0	1323	$1,495	$1.13	5d	1	0.92mi
4479A N 44th St Milwaukee, WI	2.0	1.0	1000	$895	$0.90	44d	1	0.92mi
3123 N 42nd St Milwaukee, WI	4.0	1.0	1500	$1,700	$1.13	24d	1	0.94mi
4139 N 50th St Milwaukee, WI	3.0	1.0	1275	$1,600	$1.25	44d	1	0.97mi
4661 N 38th St Unit 4661 Milwaukee, WI	2.0	1.0	1000	$845	$0.84	15d	1	0.98mi
2116 W Atkinson Ave Unit A Milwaukee, WI	4.0	1.0	1707	$2,000	$1.17	2d	1	1.01mi
2106A W Keefe Ave Unit 2106 Lower Milwaukee, WI	3.0	1.0	1300	$1,100	$0.85	17d	1	1.05mi
3911 N 20th St Unit 3913 Milwaukee, WI	2.0	1.0	950	$995	$1.05	24d	1	1.05mi
2931 W Chambers St Milwaukee, WI	2.0	1.0	1400	$1,050	$0.75	24d	1	1.08mi
5137 W Keefe Ave Unit 5137 Milwaukee, WI	2.0	1.0	1000	$1,550	$1.55	3d	1	1.11mi
4702 N 44th St Milwaukee, WI	3.0	2.0	1050	$1,850	$1.76	44d	1	1.13mi
3629 N 53rd St Unit (Downstairs) Milwaukee, WI	2.0	1.0	1600	$1,275	$0.80	44d	1	1.14mi
4703 N 45th St Milwaukee, WI	3.0	1.0	1031	$1,695	$1.64	24d	1	1.17mi
3646 N 19th St Milwaukee, WI	2.0	1.0	935	$1,100	$1.18	5d	1	1.22mi
3072 N 49th St Unit 3072- 3 Milwaukee, WI	2.0	1.0	1000	$950	$0.95	44d	1	1.23mi
3072 N 49th St Milwaukee, WI	2.0	1.0	1000	$950	$0.95	16d	1	1.23mi
2870 N 29th St #2872 Milwaukee, WI	3.0	1.0	1300	$1,250	$0.96	44d	1	1.23mi
3066 N 49th St Unit 3066-5 Milwaukee, WI	2.0	1.0	1100	$950	$0.86	44d	1	1.23mi
4727 N 46th St Milwaukee, WI	3.0	1.0	936	$1,700	$1.82	44d	1	1.24mi
3927-3929 N 17th St Milwaukee, WI	2.0	1.0	900	$1,195	$1.33	44d	1	1.30mi
2976 N 49th St Milwaukee, WI	3.0	1.0	1700	$1,300	$0.76	17d	1	1.31mi
3155 N 52nd St Milwaukee, WI	3.0	2.0	1300	$1,400	$1.08	44d	1	1.32mi
4640 N 51st Blvd Milwaukee, WI	2.0	1.0	1075	$1,275	$1.19	44d	1	1.33mi
2945 N 23rd St Milwaukee, WI	3.0	1.0	1014	$1,195	$1.18	44d	1	1.36mi

Listing history 16 events

1. 2026-06-18
   days on market $165,000 Active 22 DOM
2. 2026-06-17
   days on market $165,000 Active 21 DOM
3. 2026-06-16
   days on market $165,000 Active 20 DOM
4. 2026-06-15
   days on market $165,000 Active 19 DOM
5. 2026-06-13
   days on market $165,000 Active 17 DOM
6. 2026-06-13
   days on market $165,000 Active 16 DOM
7. 2026-06-09
   days on market $165,000 Active 13 DOM
8. 2026-06-08
   days on market $165,000 Active 12 DOM
9. 2026-06-07
   days on market $165,000 Active 11 DOM
10. 2026-06-05
    days on market $165,000 Active 8 DOM
11. 2026-06-03
    days on market $165,000 Active 7 DOM
12. 2026-06-02
    days on market $165,000 Active 6 DOM
13. 2026-06-01
    days on market $165,000 Active 5 DOM
14. 2026-05-31
    days on market $165,000 Active 4 DOM
15. 2026-05-26
    listed $165,000 Active
16. 1980-04-01
    soldstatus $24,300

ⓘ 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: $3,485 · $290/mo
• Projected year-2 tax: $3,485 · $290/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 71% 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,648
• − Mortgage interest: −$9,243
• − Property taxes: −$3,485
• − Insurance: −$825
• − Repairs & maintenance: −$1,732
• − Management: −$1,732
• − Depreciation: −$4,800
• Taxable loss: −$168
• Est. tax savings @ 24.0%: +$40
• After-tax cash flow: $2,449/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

+579.0% since first listed

2 events — show timeline

• 2026-05-26 Listed $165,000 RANW
• 1980-04-01 Sold (Public Records) $24,300 Public Records

Property tax history

+2.4%/yr

Latest (2024): $3,485 · +5.8% YoY. Source: county tax records.