2864 N 26th St · Milwaukee, WI 53206

$90,000

6 bd · 2.0 ba · 1,744 sqft · SingleFamily public records · 36 Days on market

Built 1909 3,920 sqft lot $52/sqft · 60% above 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.6/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks MLS

This property qualifies for the NSP program.

Key facts

• 3,920 sq ft lot
• 2 garage spots
• Built 1909

Property features AI

Exterior

• Parking: Detached 2-car garage with opener
• Utilities: Municipal water; Municipal sewer
• Home design: 1.5-story single-family home; Less than 1/2 acre lot (approximately 0.09 acre); Zoned RT4
• Construction: Aluminum/steel exterior materials; Year built: public record (assessor)
• Exterior features: Aluminum and vinyl siding

Interior

• Kitchen: Kitchen on main level
• Bedrooms: Bedroom (additional room)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Natural gas heat
• Interior features: Full basement; Main-level living room; Main-level kitchen

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $883 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 18.1% 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 (+8.3%/yr); 150 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $1,848/mo this rent would consume 76% of the median local household income ($29k/yr) (locally 2061% 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 $10k of equity ($622 loan paydown + $9k appreciation (10.0% local appreciation)).
• Milwaukee County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 8.0% rent growth), your $25k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, 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 36 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y ago; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $7k; list at $90k implies a 1177% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1909 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 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 1909 — 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: 2.05% ✓
• Cap rate: 18.07%
• Cash-on-cash: 42.07%
• DSCR: 2.87
• GRM: 4.1

CMA / ARV

• ARV (median comp): $56,247
• List price: $90,000
• Delta: 60.01%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2463 N 22nd St	0.58mi	5/2.0 (-1)	1,678 (-4%)	4mo	$55,000	$33	58
2534 N 28th St	0.44mi	5/1.0 (-1)	1,571 (-10%)	7mo	$70,000	$45	48
3000 N 37th St	0.71mi	5/2.0 (-1)	1,887 (+8%)	13mo	$149,900	$79	38

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

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 60.4%
• Equity multiple: 5.57×
• Total profit: $115,051
• Equity at exit: $81,079

10-year hold

• IRR: 55.9%
• Equity multiple: 13.65×
• Total profit: $318,751
• Equity at exit: $174,850

Cash invested: $25,200 (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 53206

• Rents YoY: 8.3%
• Active inventory: 150
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,848 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$67 /mo · $804/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $883

Break-even live

Break-even rent $730

Max offer price $90,000

Occupancy floor 47%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2432 N 28th St Milwaukee, WI	5.0	1.5	1876	$1,600	$0.85	43d	1	0.55mi
2704 W Concordia Ave Unit Na Milwaukee, WI	5.0	2.0	1856	$2,500	$1.35	23d	1	0.58mi

Listing history 16 events

1. 2026-06-15
   statusdays on market $90,000 Pending 36 DOM
2. 2026-06-13
   days on market $90,000 Active 35 DOM
3. 2026-06-13
   days on market $90,000 Active 34 DOM
4. 2026-06-09
   days on market $90,000 Active 31 DOM
5. 2026-06-08
   pricedays on market $90,000 Active 30 DOM
6. 2026-06-07
   days on market $95,000 Active 29 DOM
7. 2026-06-05
   days on market $95,000 Active 26 DOM
8. 2026-06-03
   days on market $95,000 Active 25 DOM
9. 2026-06-02
   days on market $95,000 Active 24 DOM
10. 2026-06-01
    days on market $95,000 Active 23 DOM
11. 2026-05-31
    days on market $95,000 Active 22 DOM
12. 2026-05-02
    listed $100,000 Active 386-char remark
13. 2013-01-27
    listed $9,400 44-char remark

    Show marketing remark (44 chars)

    This property qualifies for the NSP program.

14. 2013-01-27
    historical 44-char remark

    Show marketing remark (44 chars)

    This property qualifies for the NSP program.

15. 2011-06-30
    soldstatus $7,050 44-char remark

    Show marketing remark (44 chars)

    This property qualifies for the NSP program.

16. 2007-10-29
    soldstatus $39,000

ⓘ 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: $804 · $67/mo
• Projected year-2 tax: $1,235 · $103/mo
• Expected delta: +$430/yr (+$36/mo · 53.5%)

ⓘ 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: $22,176
• − Mortgage interest: −$5,041
• − Property taxes: −$804
• − Insurance: −$450
• − Repairs & maintenance: −$1,774
• − Management: −$1,774
• − Depreciation: −$2,618
• Taxable income: $9,714
• Est. tax owed @ 24.0%: −$2,331
• After-tax cash flow: $8,270/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): 19,887
• Household income: $29,336
• Rent vs Own: 67.8% rent · 32.2% own
• Severe rent burden: 2061.0

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 (91%)
• Race & ethnicity: Black 91% Two or more races 3% White 3% Hispanic / Latino 3%
• Common ancestry: Norwegian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 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: ▲ 133.03%
• Current HPI: 397.7151
• Rent YoY: ▲ 8.28%
• 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

+130.8% since first listed

8 events — show timeline

• 2026-06-14 Pending — METROMLS
• 2026-06-08 Price Changed $90,000 METROMLS
• 2026-05-27 Price Changed $95,000 METROMLS
• 2026-05-02 Listed $100,000 METROMLS
• 2013-01-27 Listing Removed — METROMLS
• 2013-01-27 Listed $9,400 METROMLS
• 2011-06-30 Sold (MLS) $7,050 METROMLS
• 2007-10-29 Sold (Public Records) $39,000 Public Records

Property tax history

+2.4%/yr

Latest (2024): $804 · +33.4% YoY. Source: county tax records.