1935 W Monroe St · Milwaukee, WI 53205

$27,000

2 bd · 1.5 ba · 1,131 sqft · MultiFamily public records · 20 Days on market

Built 1897 1,306 sqft lot

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Why this score? — see what drove the D+ 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
• ARV discount +7.5/15.0
• Appreciation +6.5/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• 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 MLS

Good investment for an investor looking to add to their portfolio. Needs some TLC and elbow grease. Property Management will be in place at closing if needed for investors. Zoning is actually commercial, so this makes this property a rare find. Package deal available for only $660K for 11 properties. Seller will entertain seller financing for the right candidate. Room sizes have been estimated.

Key facts

• 1,306 sq ft lot
• Listed 20 days

Property features AI

Exterior

• Utilities: Municipal water; Municipal sewer
• Home design: 1.5-story multi-family property; Zoned LB2 Commercial
• Construction: Year built from assessor/public record
• Exterior features: Other exterior; Lot under 1/2 acre

Interior

• Kitchen: Unit 2 kitchen on main level
• Bedrooms: Unit 1: no bedrooms listed; Unit 2: no bedrooms listed (main level master bedroom noted)
• Bathrooms: Unit 1: 1 full bath; Unit 2: 0 full baths
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath multifamily listed at $27k.

Deal economics

• At list price, monthly cash flow is $758 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $27k).
• Recommended offer: $27k (1.5% below list) — sets the bar for market timing.
• Cap rate 42.5% 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: 28 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $1,266/mo this rent would consume 48% of the median local household income ($32k/yr) (locally 636% 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 $1k of equity ($187 loan paydown + $816 appreciation (3.0% local appreciation)).
• Milwaukee County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($27k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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: flood insurance adds $56/mo; built in 1897 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $26,595 (1.5% below list)

Questions for the listing agent

1. Built in 1897 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 4.69% ✓
• Cap rate: 42.46%
• Cash-on-cash: 129.16%
• DSCR: 6.75
• GRM: 1.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.02% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.83×
• Total profit: $51,627
• Equity at exit: $12,176

10-year hold

• IRR: —
• Equity multiple: 16.36×
• Total profit: $116,150
• Equity at exit: $18,792

Cash invested: $7,560 (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 53205

• Home prices YoY: 0.8%
• Active inventory: 28
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $1,266 high
• Mortgage (P&I): −$142
• Tax est. 1.5%: −$34 /mo · $405/yr
• Insurance: −$11
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $758

Break-even live

Break-even rent $306

Max offer price $27,000

Occupancy floor 35%

Sensitivity live

Price	-10% $777	-5% $767	+0% $758	+5% $749	+10% $740
Rent	-10% $658	-5% $708	+0% $758	+5% $808	+10% $858
Rate	-1.0pp $772	-0.5pp $765	base $758	+0.5pp $751	+1.0pp $744

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: $6,750
• Closing costs: $810
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2630 N 24th St Milwaukee, WI	2.0	1.0	934	$1,450	$1.55	20d	1	0.54mi
2741 N 23rd St Milwaukee, WI	3.0	1.0	900	$1,050	$1.17	15d	1	0.65mi
2741 N 23rd St Unit 2 Milwaukee, WI	3.0	1.0	1000	$1,100	$1.10	17d	1	0.65mi
2530 N 28th St Unit 2530 Lower Milwaukee, WI	2.0	1.0	764	$995	$1.30	15d	1	0.67mi
2809 W Clarke St Unit 12811 Milwaukee, WI	3.0	1.0	1400	$1,200	$0.86	17d	1	0.73mi
1430 N 21st St Unit 2 Milwaukee, WI	2.0	1.0	1000	$975	$0.97	44d	1	0.74mi
2517 W Hadley St Milwaukee, WI	2.0	1.0	850	$1,050	$1.24	15d	1	0.78mi
2765 N 26th St Unit 2 Milwaukee, WI	2.0	1.0	1100	$1,100	$1.00	5d	1	0.80mi
2765 N 26th St Unit 1 Milwaukee, WI	3.0	1.0	1125	$1,200	$1.07	5d	1	0.80mi
1345 W Locust St #10 Milwaukee, WI	1.0	1.0	800	$775	$0.97	24d	1	0.86mi
2201 N 32nd St Unit 2201 Milwaukee, WI	3.0	1.0	1100	$1,195	$1.09	17d	1	0.87mi
2955 N 17th St Unit B UPSTAIRS Milwaukee, WI	2.0	1.0	1000	$900	$0.90	17d	1	0.88mi
2945 N 23rd St Milwaukee, WI	3.0	1.0	1014	$1,195	$1.18	44d	1	0.89mi
2407 N 6th St Milwaukee, WI	2.0	1.0	897	$1,100	$1.23	44d	1	0.93mi
3109 W Walnut St Milwaukee, WI	2.0	1.0	1000	$1,095	$1.09	44d	1	0.97mi
3100 W Center St Milwaukee, WI	3.0	2.0	1174	$1,531	$1.30	2d	1	1.00mi
2870 N 29th St #2872 Milwaukee, WI	3.0	1.0	1300	$1,250	$0.96	44d	1	1.00mi
1239 N 26th St Unit 1 Milwaukee, WI	3.0	1.0	1300	$1,400	$1.08	44d	1	1.03mi
1239 N 26th St Unit 1 Milwaukee, WI	3.0	1.0	1300	$1,400	$1.08	45d	1	1.03mi
1235 N 26th St Milwaukee, WI	3.0	1.0	900	$950	$1.06	44d	1	1.04mi
3039 N 24th Pl Unit 3039 Milwaukee, WI	2.0	1.0	800	$995	$1.24	17d	1	1.05mi
1639 N 33rd St Milwaukee, WI	3.0	1.0	1424	$950	$0.67	24d	1	1.08mi
2610 W Juneau Ave Unit 2610 Milwaukee, WI	3.0	1.0	893	$1,400	$1.57	24d	1	1.08mi
1303 N 10th St Milwaukee, WI	3.0	1.0–2.0	797	$2,418	$3.03	2d	26	1.08mi
1515 N 32nd St Unit 1515 Milwaukee, WI	3.0	1.0	1200	$1,245	$1.04	5d	1	1.10mi
1116 N 13th St Milwaukee, WI	3.0	1.0	1400	$1,345	$0.96	15d	1	1.13mi
1326 W Burleigh St Unit 1326 Lower Milwaukee, WI	2.0	1.0	900	$825	$0.92	2d	1	1.13mi
3045 N 11th St #3047 Milwaukee, WI	3.0	1.0	1065	$1,175	$1.10	5d	1	1.14mi
901 W Winnebago St Milwaukee, WI	1.0–3.0	1.0–2.0	1359	$1,937	$1.43	3d	10	1.14mi
2577 N Vel R Phillips Ave Milwaukee, WI	3.0	1.0	1048	$1,400	$1.34	17d	1	1.14mi
2550 N 36th St Unit 2550A Upper Milwaukee, WI	2.0	1.0	711	$845	$1.19	24d	1	1.15mi
2931 W Chambers St Milwaukee, WI	2.0	1.0	1400	$1,050	$0.75	24d	1	1.15mi
3058 N 11th St Unit 3058 Lower Milwaukee, WI	2.0	1.0	840	$945	$1.12	24d	1	1.16mi
1009 W Juneau Ave Unit 114 Milwaukee, WI	2.0	1.5	900	$2,350	$2.61	44d	1	1.18mi
2530 N 37th St Milwaukee, WI	2.0	1.0	1037	$1,000	$0.96	15d	1	1.19mi
1125 N 9th St Unit 111 Milwaukee, WI	2.0	1.0	735	$1,550	$2.11	44d	1	1.25mi
1125 N 9th St Unit 1379037P Milwaukee, WI	2.0	1.0	731	$2,717	$3.72	44d	1	1.26mi
1125 N 9th St Unit 1379032P Milwaukee, WI	2.0	1.0	731	$2,975	$4.07	2d	1	1.26mi
2001 N 38th St #2003 Milwaukee, WI	3.0	1.0	1326	$950	$0.72	2d	1	1.26mi
936 N 25th St Unit 1 Milwaukee, WI	2.0	1.0	900	$1,338	$1.49	44d	1	1.26mi

Listing history 14 events

1. 2026-06-18
   days on market $27,000 Active 20 DOM
2. 2026-06-17
   days on market $27,000 Active 19 DOM
3. 2026-06-16
   days on market $27,000 Active 18 DOM
4. 2026-06-15
   days on market $27,000 Active 17 DOM
5. 2026-06-13
   days on market $27,000 Active 15 DOM
6. 2026-06-13
   days on market $27,000 Active 14 DOM
7. 2026-06-09
   days on market $27,000 Active 11 DOM
8. 2026-06-08
   days on market $27,000 Active 10 DOM
9. 2026-06-07
   days on market $27,000 Active 9 DOM
10. 2026-06-05
    days on market $27,000 Active 6 DOM
11. 2026-06-03
    days on market $27,000 Active 5 DOM
12. 2026-06-02
    days on market $27,000 Active 4 DOM
13. 2026-06-01
    days on market $27,000 Active 3 DOM
14. 2026-05-31
    days on market $27,000 Active 2 DOM

ⓘ 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 7/10 Severe FEMA zone X (unshaded) · 76% 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: $15,194
• − Mortgage interest: −$1,512
• − Property taxes: −$405
• − Insurance: −$801
• − Repairs & maintenance: −$1,216
• − Management: −$1,216
• − Depreciation: −$785
• Taxable income: $9,259
• Est. tax owed @ 24.0%: −$2,222
• After-tax cash flow: $6,876/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): 9,265
• Household income: $31,529
• Rent vs Own: 72.6% rent · 27.4% own
• Severe rent burden: 636.0

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 (80%)
• Race & ethnicity: Black 80% Asian 7% White 6% Hispanic / Latino 6% Two or more races 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 1% Lithuanian 1% Swedish 1%
• Foreign-born: 6% · Canada
• Languages at home: 88% English-only · Other Asian/Pacific 5% Spanish 5%

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: ▲ 3.02%
• Current HPI: 363.0038
• 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

+291.3% since first listed

11 events — show timeline

• 2026-05-28 Listed $27,000 METROMLS
• 2024-03-30 Pending — METROMLS
• 2024-03-29 Listing Removed — METROMLS
• 2024-03-21 Listed $49,900 METROMLS
• 2023-08-12 Listing Removed — METROMLS
• 2023-03-11 Listed $84,900 METROMLS
• 2022-03-02 Sold (Public Records) $713,000 Public Records
• 2022-03-02 Sold (Public Records) $713,000 Public Records
• 2005-04-11 Sold (Public Records) $20,000 Public Records
• 2002-10-09 Sold (Public Records) $10,000 Public Records
• 1980-10-01 Sold (Public Records) $6,900 Public Records

Property tax history

+17.0%/yr

Latest (2024): $7,569 · +45.9% YoY. Source: county tax records.