3427 N Palmer St · Milwaukee, WI 53212

$30,500

2 bd · 1.0 ba · 1,116 sqft · SingleFamily public records · 8 Days on market

Built 1920 4,791 sqft lot $27/sqft · 65% below area

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

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 ONLY. BIDS DUE MAY 18, 2026 AT 10:00AM

Key facts

• 4,791 sq ft lot
• Built 1920
• Listed 8 days

Property features AI

Exterior

• Utilities: Municipal water; Municipal sewer
• Home design: Single-family, 1-story home; Less than 1/2 acre lot
• Construction: Assessor/public record year built
• Exterior features: Aluminum and vinyl exterior

Interior

• Kitchen: Kitchen approximately 10 x 10
• Bedrooms: Master bedroom approximately 10 x 10 (main level)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heat
• Interior features: Full basement; Living room on main level; Kitchen on main level; Master bedroom on main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $655 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Cap rate 32.1% 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 (+5.0%/yr); 129 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); 48% 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

• Local home prices are declining (-3.0%/yr); year-one equity from $211 of loan paydown is wiped out by about $915 of value loss. Plan a longer hold.
• Milwaukee County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 5.0% rent growth), your $9k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 12y 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 $3k; list at $30k implies a 1073% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $30,500

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 3.77% ✓
• Cap rate: 32.05%
• Cash-on-cash: 92.00%
• DSCR: 5.09
• GRM: 2.2

CMA / ARV

• ARV (median comp): $85,921
• List price: $30,500
• Delta: -45.53%
• 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
3165 N Bremen St	0.57mi	2/1.0	1,159 (+4%)	1mo	$210,000	$181	66
3224 N Palmer St	0.28mi	3/1.0 (+1)	1,008 (-10%)	1mo	$105,000	$104	65
3815 N Vel R Phillips Ave	0.44mi	3/1.0 (+1)	1,046 (-6%)	1mo	$170,000	$163	63
3754 N 6th St	0.53mi	3/1.0 (+1)	1,192 (+7%)	9mo	$102,700	$86	52
3716 N Dr William Finlayson St	0.39mi	3/1.0 (+1)	1,002 (-10%)	11mo	$67,000	$67	51
3168 N Pierce St	0.49mi	3/1.0 (+1)	972 (-13%)	2mo	$149,900	$154	49
3173 N Bremen St	0.56mi	3/2.0 (+1)	1,204 (+8%)	8mo	$330,000	$274	45
2977 N Richards St	0.57mi	3/2.0 (+1)	993 (-11%)	7mo	$199,900	$201	40
2941 N Dr William Finlayson St	0.72mi	3/1.0 (+1)	971 (-13%)	1mo	$142,000	$146	39
3061 N Buffum St	0.48mi	3/2.0 (+1)	1,265 (+13%)	10mo	$239,900	$190	38
3213 N Dousman St	0.71mi	2/2.0	976 (-12%)	13mo	$290,000	$297	31
3800 N Humboldt Blvd	0.72mi	3/1.5 (+1)	1,256 (+12%)	10mo	$258,900	$206	30

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

Projected returns pro-forma

-3.0% appreciation · 5.0% rent growth · sell at horizon

5-year hold

• IRR: 95.2%
• Equity multiple: 5.59×
• Total profit: $39,161
• Equity at exit: $4,548

10-year hold

• IRR: 98.3%
• Equity multiple: 12.48×
• Total profit: $98,062
• Equity at exit: $2,637

Cash invested: $8,540 (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 53212

• Rents YoY: 5.0%
• Active inventory: 129
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $1,150 high
• Mortgage (P&I): −$160
• Tax from tax record: −$81 /mo · $972/yr
• Insurance: −$13
• HOA: −$0
• Vacancy / Maint / Mgmt: −$241
• Net cashflow: $655

Break-even live

Break-even rent $321

Max offer price $30,500

Occupancy floor 38%

Sensitivity live

Price	-10% $672	-5% $663	+0% $655	+5% $646	+10% $637
Rent	-10% $564	-5% $609	+0% $655	+5% $700	+10% $746
Rate	-1.0pp $670	-0.5pp $662	base $655	+0.5pp $647	+1.0pp $639

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: $7,625
• Closing costs: $915
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3373 N Richards St Milwaukee, WI	2.0	1.0	950	$1,150	$1.21	24d	1	0.13mi
312 E Townsend St Unit 312 Milwaukee, WI	3.0	1.0	1400	$1,250	$0.89	24d	1	0.16mi
3352 N Richards St Unit Second floor Milwaukee, WI	2.0	1.0	1000	$1,150	$1.15	44d	1	0.17mi
3703 N 1st St Unit Upper-3705 Milwaukee, WI	3.0	1.0	1034	$1,200	$1.16	44d	1	0.22mi
3228 N Achilles St Unit 3228A Milwaukee, WI	2.0	1.0	713	$895	$1.26	44d	1	0.28mi
3255 N Buffum St Unit 3255 Upper Milwaukee, WI	2.0	1.0	1100	$1,350	$1.23	44d	1	0.28mi
3600 N Vel R. Phillips Ave Milwaukee, WI	2.0	1.0	900	$950	$1.06	5d	1	0.28mi
3368 N Booth St #3374 Milwaukee, WI	2.0	1.0	900	$950	$1.06	24d	1	0.33mi
3368 N Booth St #3374 Milwaukee, WI	2.0	1.0	900	$950	$1.06	44d	1	0.33mi
3156 N 1st St Milwaukee, WI	2.0	1.0	900	$895	$0.99	44d	1	0.34mi
605 E Auer Ave Milwaukee, WI	2.0	1.0	1200	$1,200	$1.00	11d	1	0.44mi
3037 N 1st St Milwaukee, WI	2.0	1.0	763	$990	$1.30	44d	1	0.50mi
3029 N Holton St Milwaukee, WI	3.0	1.0	980	$1,200	$1.22	44d	1	0.56mi
3908 N 6th St Milwaukee, WI	2.0	1.0	1100	$1,150	$1.05	24d	1	0.66mi
3025 N 6th St Milwaukee, WI	2.0	1.0	1153	$1,125	$0.98	44d	1	0.67mi
2808 N Palmer St Unit Lower Milwaukee, WI	2.0	1.0	1200	$875	$0.73	44d	1	0.78mi
1154 E Singer Cir Unit 2 Milwaukee, WI	1.0	1.0	800	$1,200	$1.50	24d	1	0.79mi
2934 N Bremen St Milwaukee, WI	2.0	1.0	798	$1,398	$1.75	24d	1	0.80mi
4048 N 7th St Milwaukee, WI	2.0	1.0	1100	$1,150	$1.05	24d	1	0.81mi
3298 N 13th St Milwaukee, WI	3.0	1.0	885	$895	$1.01	44d	1	0.88mi
3058 N 11th St Unit 3058 Lower Milwaukee, WI	2.0	1.0	840	$945	$1.12	24d	1	0.89mi
2724 N Palmer St Milwaukee, WI	3.0	1.0	900	$1,300	$1.44	44d	1	0.89mi
2719 N 1st St Milwaukee, WI	2.0	1.0	1300	$1,095	$0.84	15d	1	0.90mi
3045 N 11th St #3047 Milwaukee, WI	3.0	1.0	1065	$1,175	$1.10	5d	1	0.92mi
2716A N Buffum St Milwaukee, WI	2.0	1.0	1100	$1,200	$1.09	22d	1	0.92mi
2772 N Bremen St Milwaukee, WI	2.0	1.0	900	$1,295	$1.44	44d	1	0.96mi
2772 N Bremen St #2774 Milwaukee, WI	3.0	1.0	1500	$1,795	$1.20	44d	1	0.97mi
1326 W Burleigh St Unit 1326 Lower Milwaukee, WI	2.0	1.0	900	$825	$0.92	2d	1	1.01mi
2761 N Humboldt Blvd Unit First Floor Milwaukee, WI	3.0	1.0	1236	$1,600	$1.29	17d	1	1.03mi
3304 N Newhall St Unit 4 Milwaukee, WI	1.0	1.0	700	$995	$1.42	44d	1	1.04mi
3304 N Newhall St Unit 1 Milwaukee, WI	2.0	1.0	800	$1,250	$1.56	22d	1	1.04mi
4000 N Morris Blvd Unit 13 Shorewood, WI	1.0	1.0	800	$975	$1.22	44d	1	1.08mi
2577 N Vel R Phillips Ave Milwaukee, WI	3.0	1.0	1048	$1,400	$1.34	17d	1	1.10mi
3495 N Oakland Ave Milwaukee, WI	2.0	1.0	625	$1,005	$1.61	5d	3	1.11mi
1625 W Keefe Ave Unit 4 Milwaukee, WI	1.0	1.0	750	$725	$0.97	24d	1	1.11mi
3416 N 17th St Unit 1 Milwaukee, WI	3.0	1.0	1200	$1,100	$0.92	44d	1	1.11mi
3747 N 16th St Milwaukee, WI	2.0	1.0	1200	$875	$0.73	44d	1	1.12mi
2536 N Richards St Unit 1ST Milwaukee, WI	2.0	1.0	1200	$950	$0.79	44d	1	1.13mi
3245 N Oakland Ave Milwaukee, WI	1.0–3.0	1.0	850	$1,284	$1.51	2d	7	1.14mi
2636 N Weil St Milwaukee, WI	2.0	1.0	900	$1,100	$1.22	2d	1	1.15mi

Listing history 11 events

1. 2026-06-18
   days on market $30,500 Active 8 DOM
2. 2026-06-17
   days on market $30,500 Active 7 DOM
3. 2026-06-16
   days on market $30,500 Active 6 DOM
4. 2026-06-15
   days on market $30,500 Active 5 DOM
5. 2026-06-13
   days on market $30,500 Active 3 DOM
6. 2026-06-13
   pricestatusdays on marketlisting id $30,500 Active 2 DOM
7. 2026-04-13
   listed $46,800 Active 218-char remark

   Show marketing remark (218 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 ONLY. BIDS DUE MAY 18, 2026 AT 10:00AM

8. 2014-03-18
   listed $3,500 132-char remark

   Show marketing remark (132 chars)

   This property is open to investors as well as owner/occupants. Additional information can be found on the City of Milwaukee website.

9. 2014-03-18
   historical 132-char remark

   Show marketing remark (132 chars)

   This property is open to investors as well as owner/occupants. Additional information can be found on the City of Milwaukee website.

10. 2014-02-24
    soldstatus $2,600 132-char remark

    Show marketing remark (132 chars)

    This property is open to investors as well as owner/occupants. Additional information can be found on the City of Milwaukee website.

11. 1991-09-01
    soldstatus $19,500

ⓘ 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: $972 · $81/mo
• Projected year-2 tax: $972 · $81/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 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: $13,798
• − Mortgage interest: −$1,708
• − Property taxes: −$972
• − Insurance: −$152
• − Repairs & maintenance: −$1,104
• − Management: −$1,104
• − Depreciation: −$887
• Taxable income: $7,870
• Est. tax owed @ 24.0%: −$1,889
• After-tax cash flow: $5,968/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): 28,938
• Household income: $47,298
• Rent vs Own: 65.6% rent · 34.4% own
• Severe rent burden: 2397.0

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: Black 48% White 35% Hispanic / Latino 12% Two or more races 9%
• Hispanic origin (detail): Mexican 4% Puerto Rican 6%
• Common ancestry: Romanian 4% Portuguese 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 92% English-only · Spanish 6%

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: ▼ -216.73%
• Current HPI: 385.8225
• Rent YoY: ▲ 5.00%
• 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

+56.4% since first listed

7 events — show timeline

• 2026-06-10 Listed $30,500 METROMLS
• 2026-05-20 Listing Removed — METROMLS
• 2026-04-13 Listed $46,800 METROMLS
• 2014-03-18 Listing Removed — METROMLS
• 2014-03-18 Listed $3,500 METROMLS
• 2014-02-24 Sold (MLS) $2,600 METROMLS
• 1991-09-01 Sold (Public Records) $19,500 Public Records

Property tax history

+7.6%/yr

Latest (2024): $972 · -88.6% YoY. Source: county tax records.