3887 N 56th St · Milwaukee, WI 53216

$159,900

4 bd · 2.0 ba · 1,138 sqft · SingleFamily public records · 46 Days on market

Built 1944 5,227 sqft lot $141/sqft · 11% below area Est $180k · 11% under

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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 +19.8/30.0
• ARV discount +12.5/15.0
• DSCR +6.3/10.0
• Appreciation +5.7/10.0
• 1% rule +5.1/10.0
• Rent growth +4.3/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks MLS

4BR 1.5BA brick Cape in handy location. Features newer roof and some windows. Nice yard, detached garaged, and a fresh make ready is what you can expect. Property has been leased out for a year.

Key facts

• Newer roof
• Nice yard
• Detached garage

Tags

• NEWER ROOF
• DETACHED GARAGE
• NICE YARD

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $190 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $155k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.7% 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; 11 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% 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).

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 $45k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y 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.
• Current owner paid $31k; list at $160k implies a 416% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1944 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $155,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1944 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.01% ✓
• Cap rate: 7.72%
• Cash-on-cash: 5.10%
• DSCR: 1.23
• GRM: 8.2

CMA / ARV

• ARV (median comp): $180,108
• List price: $159,900
• Delta: -11.22%
• 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
3919 N 58th St	0.11mi	3/2.0 (-1)	1,277 (+12%)	1mo	$150,000	$117	69
3619 N 61st St	0.39mi	4/1.0	1,083 (-5%)	1mo	$105,000	$97	69
3946 N 63rd St	0.36mi	3/1.0 (-1)	1,191 (+5%)	0mo	$200,000	$168	66
3718 N 57th St	0.22mi	3/1.5 (-1)	1,264 (+11%)	1mo	$190,000	$150	63
4132 N 51st Blvd	0.45mi	3/1.5 (-1)	1,076 (-5%)	0mo	$100,000	$93	62
4278 N 52nd St	0.56mi	3/1.0 (-1)	1,161 (+2%)	2mo	$115,000	$99	60
3945 N 61st St	0.27mi	3/1.5 (-1)	1,267 (+11%)	2mo	$171,100	$135	60
4142 N 68th St	0.74mi	4/1.0	1,155 (+2%)	0mo	$142,000	$123	59
4314 N 48 St	0.73mi	3/1.0 (-1)	1,128 (-1%)	1mo	$133,000	$118	54
4305 N 63rd St	0.64mi	3/1.0 (-1)	1,028 (-10%)	1mo	$130,000	$126	44
4150 N 46th St	0.72mi	3/2.0 (-1)	1,275 (+12%)	0mo	$170,000	$133	41
4448 W Leon Ter	0.72mi	3/1.0 (-1)	1,014 (-11%)	2mo	$130,000	$128	37

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: 10.3%
• Equity multiple: 1.55×
• Total profit: $24,506
• Equity at exit: $57,337

10-year hold

• IRR: 16.2%
• Equity multiple: 3.25×
• Total profit: $100,529
• Equity at exit: $78,368

Cash invested: $44,772 (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: 8.2×

Monthly cashflow live

• Estimated rent: $1,618 high
• Mortgage (P&I): −$839
• Tax from tax record: −$182 /mo · $2,187/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $190

Break-even live

Break-even rent $1,376

Max offer price $159,900

Occupancy floor 83%

Sensitivity live

Price	-10% $281	-5% $236	+0% $190	+5% $145	+10% $100
Rent	-10% $63	-5% $127	+0% $190	+5% $254	+10% $318
Rate	-1.0pp $271	-0.5pp $231	base $190	+0.5pp $149	+1.0pp $107

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4139 N 50th St Milwaukee, WI	3.0	1.0	1275	$1,600	$1.25	44d	1	0.47mi
4153 N 68th St Milwaukee, WI	3.0	1.0	1025	$1,700	$1.66	44d	1	0.81mi
3155 N 52nd St Milwaukee, WI	3.0	2.0	1300	$1,400	$1.08	44d	1	0.82mi
3925 N 42nd St Milwaukee, WI	3.0	1.0	1300	$1,675	$1.29	44d	1	0.88mi
3012 N 57th St Unit Lower Milwaukee, WI	3.0	1.0	1130	$1,398	$1.24	5d	1	0.97mi
3123 N 42nd St Milwaukee, WI	4.0	1.0	1500	$1,700	$1.13	24d	1	1.21mi
4727 N 46th St Milwaukee, WI	3.0	1.0	936	$1,700	$1.82	44d	1	1.22mi
4703 N 45th St Milwaukee, WI	3.0	1.0	1031	$1,695	$1.64	24d	1	1.22mi
3122 N 42nd St Milwaukee, WI	3.0	1.0	1323	$1,495	$1.13	5d	1	1.23mi
4702 N 44th St Milwaukee, WI	3.0	2.0	1050	$1,850	$1.76	44d	1	1.27mi
4900 N 58th St Milwaukee, WI	3.0	1.0	1455	$1,450	$1.00	5d	1	1.29mi

Listing history 11 events

1. 2026-04-10
   listed $159,900 Active 194-char remark

   Show marketing remark (194 chars)

   4BR 1.5BA brick Cape in handy location. Features newer roof and some windows. Nice yard, detached garaged, and a fresh make ready is what you can expect. Property has been leased out for a year.

2. 2026-04-05
   historical $2,099
3. 2026-03-23
   listed $2,099
4. 2013-02-08
   listed $95,000 132-char remark

   Show marketing remark (132 chars)

   Beautiful 4-bedroom Cape Cod on a nice quiet street of homeowners. Offers nice yard, garage plus slab. Close to mall. Price right!!!

5. 2013-02-08
   historical 132-char remark

   Show marketing remark (132 chars)

   Beautiful 4-bedroom Cape Cod on a nice quiet street of homeowners. Offers nice yard, garage plus slab. Close to mall. Price right!!!

6. 2013-01-12
   listed $38,900
7. 2013-01-12
   historical
8. 2010-12-09
   soldstatus $31,000
9. 2006-02-17
   soldstatus $127,000
10. 2002-07-17
    soldstatus $80,000
11. 1998-09-21
    soldstatus $63,000

ⓘ 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: $2,187 · $182/mo
• Projected year-2 tax: $2,573 · $214/mo
• Expected delta: +$385/yr (+$32/mo · 17.6%)

ⓘ 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) · 69% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°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: $19,410
• − Mortgage interest: −$8,957
• − Property taxes: −$2,187
• − Insurance: −$800
• − Repairs & maintenance: −$1,553
• − Management: −$1,553
• − Depreciation: −$4,652
• Taxable loss: −$290
• Est. tax savings @ 24.0%: +$70
• After-tax cash flow: $2,355/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

+153.8% since first listed

11 events — show timeline

• 2026-04-10 Listed $159,900 METROMLS
• 2026-04-05 Rental Removed $2,099 APPFOLIO
• 2026-03-23 Listed for Rent $2,099 APPFOLIO
• 2013-02-08 Listing Removed — METROMLS
• 2013-02-08 Listed $95,000 METROMLS
• 2013-01-12 Listing Removed — METROMLS
• 2013-01-12 Listed $38,900 METROMLS
• 2010-12-09 Sold (MLS) $31,000 METROMLS
• 2006-02-17 Sold (Public Records) $127,000 Public Records
• 2002-07-17 Sold (Public Records) $80,000 Public Records
• 1998-09-21 Sold (Public Records) $63,000 Public Records

Property tax history

+1.1%/yr

Latest (2024): $2,187 · +16.8% YoY. Source: county tax records.