735 E North St · Waukesha, WI 53188

$145,000

3 bd · 2.0 ba · 1,373 sqft · Other public records · 15 Days on market

Built 1900 5,227 sqft lot $106/sqft · 47% below area Est $273k · 47% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• Livability +4.2/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Waukesha home revamped and ready for a new owner! Near Fox River, Frame Park and within walking distance to the excitement of downtown Waukesha! 1 bedroom and 1 full bath on main floor. 2 bedrooms & full bath on upper. Master bedroom with walk-in closet and bathroom. Or walk-out to your porch and enjoy the sun on updated rubber roof. Spacious garage has been recently repaved, along with newer roof, windows and boiler. Schedule your showing today!

Key facts

• Corner-lot space
• Paved driveway
• Full basement

Tags

• CORNER-LOT SPACE
• ENCLOSED FRONT PORCH
• FULL BASEMENT
• PAVED DRIVEWAY
• DETACHED 2-CAR GARAGE

Property features AI

Exterior

• Parking: 1 additional parking space; Detached 2-car garage (2 garage spaces)
• Utilities: Municipal water; Municipal sewer
• Home design: Two-story single-family home; Located in a residentially zoned area; Subdivision: Griffin's Add
• Construction: Less than 1/2 acre lot (approx. 0.12 acre)
• Exterior features: Wood exterior; Sidewalks

Interior

• Kitchen: Range
• Bedrooms: Master bedroom on upper level (12 x 23); Bedroom 2 on upper level (11 x 11); Bedroom 3 on main level (14 x 7)
• Bathrooms: Master bedroom bathroom; 4 full bathrooms
• Heating & cooling: Forced air heating; Central air; Natural gas heat
• Interior features: Full basement with stone finish and sump pump; Living room on main level (15 x 12); Dining room on main level (11 x 10)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $145k.

Deal economics

• At list price, monthly cash flow is $569 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $143k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.0% vs local median 2.2% in Waukesha — 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 83/100 on livability (#41 in WI, #936 nationally) — a professional / high-income tenant draw. Strengths: crime A+, housing A+, health & safety A+; Watch: commute C-, amenities F.
• Waukesha School District (urban): math 38% / reading 38% proficiency, ranked #163 of 342 in WI (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hawthorne Elementary (math 27% / reading 17%, grade F, #823 of 1,041 statewide, top 82%, 340 students, 60% FRL) — zoned schools average 60% FRL vs 30% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 22% at this address vs 38% district-wide (-16 pts) — the specific schools serving this property underperform the Waukesha School District average; the district grade overstates school quality for this exact location.
• Market conditions: 139 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,885 units permitted in Waukesha County in 2024 (696 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 10y 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $142,825 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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.
5. 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.
6. 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: 1.37% ✓
• Cap rate: 11.00%
• Cash-on-cash: 16.81%
• DSCR: 1.75
• GRM: 6.1

CMA / ARV

• ARV (median comp): $273,009
• List price: $145,000
• Delta: -46.89%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 8.0%
• Equity multiple: 1.31×
• Total profit: $12,759
• Equity at exit: $21,620

10-year hold

• IRR: 17.3%
• Equity multiple: 2.43×
• Total profit: $57,879
• Equity at exit: $12,537

Cash invested: $40,600 (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 53188

• Active inventory: 139
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,988 high
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,175/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $569

Break-even live

Break-even rent $1,268

Max offer price $145,000

Occupancy floor 66%

Sensitivity live

Price	-10% $669	-5% $619	+0% $569	+5% $519	+10% $469
Rent	-10% $412	-5% $490	+0% $569	+5% $647	+10% $726
Rate	-1.0pp $642	-0.5pp $606	base $569	+0.5pp $531	+1.0pp $493

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
304 W North St Waukesha, WI	1.0–2.0	1.0–2.0	928	$1,787	$1.93	2d	19	0.73mi
1129 Ridge Creek Cir #102 Waukesha, WI	3.0	2.0	1800	$2,595	$1.44	44d	1	0.84mi
1134 Ridge Creek Cir #201 Waukesha, WI	2.0	2.0	1300	$1,895	$1.46	3d	1	0.85mi
1119 Ridge Creek Cir #101 Waukesha, WI	2.0	2.0	1850	$2,495	$1.35	24d	1	0.87mi
1711 Elder St Waukesha, WI	1.0–2.0	1.0	900	$900	$1.00	44d	1	1.26mi
448 N Grandview Blvd Waukesha, WI	3.0	1.0	1014	$1,895	$1.87	24d	1	1.33mi
155 Frame Ave Waukesha, WI	3.0	1.0	1000	$1,950	$1.95	5d	1	1.47mi
120 Cambridge Ave Waukesha, WI	2.0–3.0	2.0	1071	$1,900	$1.77	2d	7	1.48mi

Listing history 17 events

1. 2026-05-04
   listed $145,000 Active 555-char remark
2. 2022-12-16
   soldstatus $200,000
3. 2022-12-13
   soldstatus $200,000 Sold 456-char remark

   Show marketing remark (456 chars)

   Waukesha home revamped and ready for a new owner! Near Fox River, Frame Park and within walking distance to the excitement of downtown Waukesha! 1 bedroom and 1 full bath on main floor. 2 bedrooms & full bath on upper. Master bedroom with walk-in closet and bathroom. Or walk-out to your porch and enjoy the sun on updated rubber roof. Spacious garage has been recently repaved, along with newer roof, windows and boiler. Schedule your showing today!

4. 2022-08-30
   historical Contingent 456-char remark

   Show marketing remark (456 chars)

   Waukesha home revamped and ready for a new owner! Near Fox River, Frame Park and within walking distance to the excitement of downtown Waukesha! 1 bedroom and 1 full bath on main floor. 2 bedrooms & full bath on upper. Master bedroom with walk-in closet and bathroom. Or walk-out to your porch and enjoy the sun on updated rubber roof. Spacious garage has been recently repaved, along with newer roof, windows and boiler. Schedule your showing today!

5. 2022-08-16
   price $200,000 456-char remark

   Show marketing remark (456 chars)

   Waukesha home revamped and ready for a new owner! Near Fox River, Frame Park and within walking distance to the excitement of downtown Waukesha! 1 bedroom and 1 full bath on main floor. 2 bedrooms & full bath on upper. Master bedroom with walk-in closet and bathroom. Or walk-out to your porch and enjoy the sun on updated rubber roof. Spacious garage has been recently repaved, along with newer roof, windows and boiler. Schedule your showing today!

6. 2022-08-03
   price $210,000 456-char remark

   Show marketing remark (456 chars)

   Waukesha home revamped and ready for a new owner! Near Fox River, Frame Park and within walking distance to the excitement of downtown Waukesha! 1 bedroom and 1 full bath on main floor. 2 bedrooms & full bath on upper. Master bedroom with walk-in closet and bathroom. Or walk-out to your porch and enjoy the sun on updated rubber roof. Spacious garage has been recently repaved, along with newer roof, windows and boiler. Schedule your showing today!

7. 2022-07-25
   listed $220,000 Active 456-char remark

   Show marketing remark (456 chars)

   Waukesha home revamped and ready for a new owner! Near Fox River, Frame Park and within walking distance to the excitement of downtown Waukesha! 1 bedroom and 1 full bath on main floor. 2 bedrooms & full bath on upper. Master bedroom with walk-in closet and bathroom. Or walk-out to your porch and enjoy the sun on updated rubber roof. Spacious garage has been recently repaved, along with newer roof, windows and boiler. Schedule your showing today!

8. 2022-05-10
   historical

   Show marketing remark (487 chars)

   Bright and comfortable Waukesha home is ready for a new owner! Near Fox River, Frame Park and within walking distance to the excitement of downtown Waukesha. Charming living room opens up to dining room and kitchen with lots of counter space. 1 bedroom and 1 full bath on main floor. 2 bedrooms & full bath on upper with bedroom walk-out to second floor back porch. Spacious garage has been recently repaved, along with newer roof, windows and boiler. Schedule your showing today!!

9. 2022-04-14
   status Active

   Show marketing remark (487 chars)

   Bright and comfortable Waukesha home is ready for a new owner! Near Fox River, Frame Park and within walking distance to the excitement of downtown Waukesha. Charming living room opens up to dining room and kitchen with lots of counter space. 1 bedroom and 1 full bath on main floor. 2 bedrooms & full bath on upper with bedroom walk-out to second floor back porch. Spacious garage has been recently repaved, along with newer roof, windows and boiler. Schedule your showing today!!

10. 2022-04-01
    historical Contingent

    Show marketing remark (487 chars)

    Bright and comfortable Waukesha home is ready for a new owner! Near Fox River, Frame Park and within walking distance to the excitement of downtown Waukesha. Charming living room opens up to dining room and kitchen with lots of counter space. 1 bedroom and 1 full bath on main floor. 2 bedrooms & full bath on upper with bedroom walk-out to second floor back porch. Spacious garage has been recently repaved, along with newer roof, windows and boiler. Schedule your showing today!!

11. 2022-03-25
    listed $189,900 Active

    Show marketing remark (487 chars)

    Bright and comfortable Waukesha home is ready for a new owner! Near Fox River, Frame Park and within walking distance to the excitement of downtown Waukesha. Charming living room opens up to dining room and kitchen with lots of counter space. 1 bedroom and 1 full bath on main floor. 2 bedrooms & full bath on upper with bedroom walk-out to second floor back porch. Spacious garage has been recently repaved, along with newer roof, windows and boiler. Schedule your showing today!!

12. 2016-11-04
    soldstatus $99,000 Sold
13. 2016-09-21
    status Pending
14. 2016-09-13
    price $99,000
15. 2016-07-12
    price $119,900
16. 2016-05-13
    listed $129,900 Active
17. 2008-01-03
    soldstatus $131,000

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 20% 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,861
• − Mortgage interest: −$8,122
• − Property taxes: −$2,175
• − Insurance: −$725
• − Repairs & maintenance: −$1,909
• − Management: −$1,909
• − Depreciation: −$4,218
• Taxable income: $4,803
• Est. tax owed @ 24.0%: −$1,153
• After-tax cash flow: $5,673/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: Waukesha School District
• NCES district ID: 5515780
• Math proficiency: 38% ▼ -5.00%
• Reading proficiency: 38% ▼ -3.00%
• Median HH income: $63,054
• Composite: 34.09/100
• National rank: #5295
• State rank: #163 of 342 in WI

Livability — Waukesha

• Score: 83/100
• State rank: #41
• US rank: #936

Category grades

Amenities F Commute C- Cost of living A Crime A+ Employment B+ Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waukesha, WI
• County: Waukesha County · 231,951 people
• City population: 95,121
• Metro: Milwaukee-Waukesha, WI
• Population (ZIP): 34,892
• Household income: $92,409
• Rent vs Own: 32.9% rent · 67.1% own
• Severe rent burden: 1324.0

Population outlook (Waukesha County) Hauer SSP2

• Today (2025): 412,798 people
• By 2030: 418,092 · +1.3%
• By 2040: 420,872 · +2.0%
• By 2050: 413,862 · +0.3%
• By 2075: 402,782 · -2.4%
• By 2100: 365,796 · -11.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 8% Two or more races 7% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Romanian 10% Portuguese 4% Lithuanian 4%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 90% English-only · Spanish 6% German/W. Germanic 1% Other Indo-European 1%

Political lean MEDSL · Waukesha

• 2024 margin: R (+19.8) · D 39.5% · R 59.2% · Other 1.3%
• 2008→2024 swing: +5.9pp toward D · 2008: -25.7pp · 2024: -19.8pp
• All cycles: 2024: R+19.8 2020: R+20.8 2016: R+27.1 2012: R+34.8 2008: R+25.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -188.15%
• Current HPI: 269.1858
• Rent YoY: —
• 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

+10.7% since first listed

18 events — show timeline

• 2026-05-19 Pending — METROMLS
• 2026-05-04 Listed $145,000 METROMLS
• 2022-12-16 Sold (Public Records) $200,000 Public Records
• 2022-12-13 Sold (MLS) $200,000 METROMLS
• 2022-08-30 Contingent — METROMLS
• 2022-08-16 Price Changed $200,000 METROMLS
• 2022-08-03 Price Changed $210,000 METROMLS
• 2022-07-25 Listed $220,000 METROMLS
• 2022-05-10 Listing Removed — METROMLS
• 2022-04-14 Relisted — METROMLS
• 2022-04-01 Contingent — METROMLS
• 2022-03-25 Listed $189,900 METROMLS
• 2016-11-04 Sold (MLS) $99,000 METROMLS
• 2016-09-21 Pending — METROMLS
• 2016-09-13 Price Changed $99,000 METROMLS
• 2016-07-12 Price Changed $119,900 METROMLS
• 2016-05-13 Listed $129,900 METROMLS
• 2008-01-03 Sold (Public Records) $131,000 Public Records

Property tax history

+17.6%/yr

Latest (2025): $15,954 · +249.0% YoY. Source: county tax records.