3052 N Buffum St Unit 1-4 · Milwaukee, WI 53212

$324,999

None bd · None ba · 3,288 sqft · MultiFamily · 68 Days on market

Built 1900 Average condition 3,484 sqft lot $99/sqft · 161% above area ↓ 3% since listing

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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
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Condition / age +2.8/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

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

This recently remodeled 4-unit, multi-family property nestled directly between Harambee and Riverwest neighborhoods is a great property to add to your portfolio. This property is fully rented, earning strong rental revenue, and professionally managed.

Key facts

• 3,484 sq ft lot
• Built 1900
• Listed 67 days

What this means for you Summary

Snapshot

• This is a multifamily listed at $325k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $325k).
• Recommended offer: $305k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.8% 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); 131 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $4,378/mo this rent would consume 111% of the median local household income ($47k/yr) (locally 2397% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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 $91k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($305k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $305,499 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.35% ✓
• Cap rate: 10.77%
• Cash-on-cash: 15.99%
• DSCR: 1.71
• GRM: 6.2

CMA / ARV

• ARV (median comp): $124,610
• List price: $324,999
• Delta: 160.81%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3060 N Fratney St #3062	0.25mi	6/2.0	3,108 (-6%)	4mo	$450,000	$145	76
3058 N Richards St	0.06mi	8/2.0	2,912 (-11%)	5mo	$155,000	$53	74
3240 N Richards St #3242	0.24mi	—/—	3,117 (-5%)	8mo	$235,000	$75	73
808 E Clarke St #810	0.62mi	—/—	3,300 (+0%)	4mo	$365,702	$111	67
2931 N 2nd St #2933	0.37mi	8/2.0	3,146 (-4%)	11mo	$115,000	$37	66
3066 N Pierce St	0.19mi	—/—	2,828 (-14%)	9mo	$445,000	$157	61
3123 N 2nd St Unit 3123 A	0.35mi	4/2.0	2,847 (-13%)	1mo	$84,000	$30	60
3345 N Vel R Phillips Ave #3347	0.62mi	6/2.0	2,894 (-12%)	5mo	$140,000	$48	47
905 E Clarke St	0.67mi	—/—	3,546 (+8%)	12mo	$455,000	$128	46
3467 N 2nd St #3469	0.62mi	—/—	2,913 (-11%)	11mo	$7,000	$2	42
2520 N Holton St	0.68mi	4/2.0	2,830 (-14%)	7mo	$105,000	$37	40
3485 N Humboldt Blvd	0.66mi	4/2.0	2,844 (-14%)	12mo	$385,000	$135	36

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: 9.2%
• Equity multiple: 1.37×
• Total profit: $33,620
• Equity at exit: $48,458

10-year hold

• IRR: 20.0%
• Equity multiple: 2.84×
• Total profit: $167,405
• Equity at exit: $28,100

Cash invested: $91,000 (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: 131
• Price-to-rent: 24.7×

Monthly cashflow live

• Estimated rent: $4,378 high
• Mortgage (P&I): −$1,704
• Tax est. 1.5%: −$406 /mo · $4,875/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$919
• Net cashflow: $1,213

Break-even live

Break-even rent $2,843

Max offer price $324,999

Occupancy floor 67%

Sensitivity live

Price	-10% $1,437	-5% $1,325	+0% $1,213	+5% $1,100	+10% $988
Rent	-10% $867	-5% $1,040	+0% $1,213	+5% $1,386	+10% $1,558
Rate	-1.0pp $1,376	-0.5pp $1,295	base $1,213	+0.5pp $1,128	+1.0pp $1,043

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$4,380
Total (4 units)			$4,378

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3420 N Vel R. Phillips Ave Unit 3422 Milwaukee, WI	3.0	1.0	2756	$1,195	$0.43	44d	1	0.65mi
3420-22 N Vel R Phillips Ave Milwaukee, WI	3.0	1.0	2756	$1,195	$0.43	44d	1	0.66mi

Listing history 17 events

1. 2026-06-21
   days on market $324,999 Active 68 DOM
2. 2026-06-18
   days on market $324,999 Active 65 DOM
3. 2026-06-17
   days on market $324,999 Active 64 DOM
4. 2026-06-16
   days on market $324,999 Active 63 DOM
5. 2026-06-15
   days on market $324,999 Active 62 DOM
6. 2026-06-13
   days on market $324,999 Active 60 DOM
7. 2026-06-13
   pricedays on market $324,999 Active 59 DOM
8. 2026-06-09
   days on market $339,000 Active 56 DOM
9. 2026-06-08
   days on market $339,000 Active 55 DOM
10. 2026-06-07
    days on market $339,000 Active 54 DOM
11. 2026-06-05
    days on market $339,000 Active 51 DOM
12. 2026-06-03
    days on market $339,000 Active 50 DOM
13. 2026-06-02
    days on market $339,000 Active 49 DOM
14. 2026-06-01
    days on market $339,000 Active 48 DOM
15. 2026-05-31
    days on market $339,000 Active 47 DOM
16. 2026-05-07
    price $339,000 251-char remark

    Show marketing remark (251 chars)

    This recently remodeled 4-unit, multi-family property nestled directly between Harambee and Riverwest neighborhoods is a great property to add to your portfolio. This property is fully rented, earning strong rental revenue, and professionally managed.

17. 2026-04-14
    listed $349,900 Active 251-char remark

    Show marketing remark (251 chars)

    This recently remodeled 4-unit, multi-family property nestled directly between Harambee and Riverwest neighborhoods is a great property to add to your portfolio. This property is fully rented, earning strong rental revenue, and professionally managed.

ⓘ 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 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: $52,536
• − Mortgage interest: −$18,205
• − Property taxes: −$4,875
• − Insurance: −$1,625
• − Repairs & maintenance: −$4,203
• − Management: −$4,203
• − Depreciation: −$9,455
• Taxable income: $9,971
• Est. tax owed @ 24.0%: −$2,393
• After-tax cash flow: $12,159/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.

Condition & rehab AI · 12 photos

Average 55/100 Cosmetic rehab

This 4-unit multi-family property is in average condition with cosmetic updates needed to enhance its resale and rental value.

Repairs flagged

• Minor Kitchen countertops — Worn appearance
• Minor Kitchen cabinets — Signs of wear
• Minor Bathroom fixtures — Dated appearance
• Minor Hardwood floors — Worn appearance
• Minor Paint — Faded appearance

Value-add opportunities

• Both Painting and refinishing — Enhances curb appeal and interior aesthetics
• Both New flooring — Improves living space and adds value
• Both New kitchen countertops and cabinets — Updates the kitchen and adds value
• Both New bathroom fixtures — Enhances bathroom functionality and aesthetics
• Both Landscaping and curb appeal improvements — Enhances overall property appearance

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen countertops · Worn appearance	Minor	$500–3,000
Kitchen cabinets · Signs of wear	Minor	$500–3,000
Bathroom fixtures · Dated appearance	Minor	$500–3,000
Hardwood floors · Worn appearance	Minor	$500–3,000
Paint · Faded appearance	Minor	$500–3,000
Total estimated repair cost · 5 items		$2,500–15,000

Value-add ROI direction

• Both Painting and refinishing — Enhances curb appeal and interior aesthetics ↑
• Both New flooring — Improves living space and adds value ↑
• Both New kitchen countertops and cabinets — Updates the kitchen and adds value ↑
• Both New bathroom fixtures — Enhances bathroom functionality and aesthetics ↑
• Both Landscaping and curb appeal improvements — Enhances overall property appearance ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-3.1% since first listed

2 events — show timeline

• 2026-05-07 Price Changed $339,000 METROMLS
• 2026-04-14 Listed $349,900 METROMLS