1707 N Prospect Ave Unit 4A · Milwaukee, WI 53202

$224,900

3 bd · 2.0 ba · 1,255 sqft · Condo · 223 Days on market

Built 1967 Good condition $179/sqft · 12% below area Est $256k · 12% under $716/mo HOA · 34% of rent ↓ 17% since listing

---

Why this score? — see what drove the F 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).

• ARV discount +13.0/15.0
• 1% rule +4.3/10.0
• Cash flow +4.1/30.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Rent growth +2.9/5.0
• Schools +1.2/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step into this rare 3 bedroom corner unit with amazing Eastern and Southern exposures - bringing in an abundance of natural light. With some simple changes, bring your own touches for a fresh, modern twist to this traditional, spacious condo. Enjoy the unique convenience of an in-unit washer and dryer, and new plush carpeting throughout. Situated within walking distance to Milwaukee's summer attractions, this condo offers a vibrant city lifestyle, and views of the lake. Parking space secured and prepaid through the end of 2026! HOA fee includes heat and AC!

Key facts

• New plush carpeting
• Views of the lake
• $716 HOA

Tags

• IN UNIT WASHER AND DRYER
• NEW PLUSH CARPETING
• VIEWS OF THE LAKE
• SECURED PARKING SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $225k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-624 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $135k (40.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $208k (7.4% below list).
• Recommended offer: $135k (40.2% below list) — sets the bar for cash-flow.
• Cap rate 3.0% vs local median 4.7% in Milwaukee — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 (+1.6%/yr); 243 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 67d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% 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).
• This rent runs 35% of the median local income ($71k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 223 days — a 12% lower offer ($198k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $50k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 34% of rent.

Recommended offer $134,588 (40.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 223 days. Have you received any prior offers? Is the seller open to a 40% concession, seller financing, or rate buy-down credit?
3. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 0.93% ✗
• Cap rate: 2.96%
• Cash-on-cash: -11.89%
• DSCR: 0.47
• GRM: 9.0

CMA / ARV

• ARV (median comp): $256,188
• List price: $224,900
• Delta: -12.21%
• 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
1711 N Astor St	0.43mi	2/1.0 (-1)	1,232 (-2%)	1mo	$319,900	$260	67
1550 E Royall Pl #504	0.11mi	2/2.0 (-1)	1,457 (+16%)	0mo	$430,000	$295	64
1888 N Water St #506	0.49mi	2/2.5 (-1)	1,310 (+4%)	1mo	$385,000	$294	62
920 E Pleasant St #2	0.46mi	2/1.0 (-1)	1,304 (+4%)	1mo	$230,000	$176	62
270 E Highland Ave #1021	1.04mi	2/2.0 (-1)	1,260 (+0%)	0mo	$242,500	$192	59
108 W Wells St Unit 4A	1.36mi	2/1.5 (-1)	1,303 (+4%)	0mo	$328,000	$252	51
1300 N Prospect Ave #114	0.45mi	2/1.0 (-1)	1,091 (-13%)	0mo	$400,000	$367	48
2604 E Park Pl #1	1.23mi	2/1.5 (-1)	1,160 (-8%)	1mo	$484,000	$417	45
1515 N Van Buren St #513	0.66mi	2/2.0 (-1)	1,530 (+22%)	0mo	$420,000	$275	39
1924 N Hubbard St #319	0.86mi	2/2.0 (-1)	1,097 (-13%)	0mo	$329,900	$301	39
510 E Garfield Ave	0.82mi	4/2.0 (+1)	1,449 (+16%)	0mo	$274,900	$190	35
2745 N Holton St	1.31mi	2/1.0 (-1)	1,035 (-18%)	0mo	$68,000	$66	31

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 · 1.56% rent growth · sell at horizon

5-year hold

• IRR: -40.5%
• Equity multiple: -0.25×
• Total profit: $-78,699
• Equity at exit: $33,533

10-year hold

• IRR: -82.0%
• Equity multiple: -1.06×
• Total profit: $-129,665
• Equity at exit: $19,445

Cash invested: $62,972 (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 →

Active competition Active MLS

• For sale now: 1 active · 17 under contract
• Median asking: $434,900 ($298/sqft)
• Median days on market: 2 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -31.6% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 53202

• Rents YoY: 1.6%
• Active inventory: 243
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $2,084 high
• Mortgage (P&I): −$1,179
• Tax est. 1.5%: −$281 /mo · $3,374/yr
• Insurance: −$94
• HOA: −$716
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $-624

Break-even live

Break-even rent $2,874

Max offer price $134,588

Occupancy floor —

Sensitivity live

Price	-10% $-469	-5% $-546	+0% $-624	+5% $-702	+10% $-780
Rent	-10% $-789	-5% $-706	+0% $-624	+5% $-542	+10% $-460
Rate	-1.0pp $-511	-0.5pp $-567	base $-624	+0.5pp $-682	+1.0pp $-742

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: $56,225
• Closing costs: $6,747
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1800 N Farwell Ave Milwaukee, WI	2.0	1.0	995	$1,495	$1.50	57d	1	0.07mi
1525-1533 E Royall Pl Milwaukee, WI	2.0	1.0	960	$1,265	$1.32	0d	1	0.08mi
1660 N Prospect Ave Milwaukee, WI	2.0	2.0	1125	$2,700	$2.40	0d	2	0.09mi
1660 N Prospect Ave Milwaukee, WI	2.0	2.0	1165	$2,800	$2.40	74d	2	0.09mi
1550 E Royall Pl Unit 1112 Milwaukee, WI	2.0	2.0	1357	$3,150	$2.32	83d	1	0.10mi
1717 E Kane Pl Milwaukee, WI	1.0–2.0	1.0–1.5	1000	$1,765	$1.76	0d	2	0.14mi
1609 N Prospect Ave Milwaukee, WI	1.0–2.0	1.0	847	$1,690	$1.99	0d	5	0.16mi
1901 N Prospect Ave Milwaukee, WI	2.0	1.5	1100	$1,675	$1.52	0d	1	0.16mi
1619 N Farwell Ave #201 Milwaukee, WI	2.0	2.0	1322	$2,600	$1.97	139d	1	0.16mi
1914 N Prospect Ave Milwaukee, WI	2.0–3.0	1.0–1.5	1100	$1,950	$1.77	64d	4	0.18mi
1920 N Farwell Ave Milwaukee, WI	2.0	1.5	1465	$2,449	$1.67	6d	1	0.18mi
1506 E Kane Pl Milwaukee, WI	2.0	1.0	950	$1,400	$1.47	100d	1	0.23mi
1579 N Warren Ave Milwaukee, WI	3.0	1.0	1200	$1,500	$1.25	139d	1	0.27mi
1419 E Albion St Milwaukee, WI	2.0–3.0	2.0	1500	$2,235	$1.49	5d	1	0.27mi
1632 N Franklin Pl Apt 306 Milwaukee, WI	2.0	2.0	1131	$2,395	$2.12	10d	1	0.28mi
1632 N Franklin Pl Unit 219 Milwaukee, WI	2.0	2.0	1009	$2,295	$2.27	6d	1	0.29mi
1219 E Kane Pl Milwaukee, WI	2.0	1.0	1250	$1,800	$1.44	139d	1	0.31mi
2036 N Prospect Ave Milwaukee, WI	1.0–3.0	1.0–2.5	1231	$4,195	$3.41	0d	12	0.32mi
1604 N Franklin Pl Milwaukee, WI	2.0	1.0	1100	$1,500	$1.36	110d	1	0.33mi
1116 E Hamilton St Milwaukee, WI	3.0	2.0	1400	$1,750	$1.25	112d	1	0.35mi
1832 E Windsor Pl #1834 Milwaukee, WI	2.0	1.0	1000	$1,395	$1.40	67d	1	0.37mi
1701 N Humboldt Ave Milwaukee, WI	2.0	1.0–2.0	779	$2,250	$2.89	5d	1	0.37mi
1669 N Humboldt Ave Unit 2 Milwaukee, WI	2.0	1.0	950	$1,745	$1.84	67d	1	0.38mi
1669 N Humboldt Ave Milwaukee, WI	2.0	1.0	950	$1,745	$1.84	93d	1	0.38mi
1118 E Kane Pl Unit 2 Milwaukee, WI	2.0	1.0	950	$1,350	$1.42	7d	1	0.40mi
2102 N Cambridge Ave Unit 2102 Milwaukee, WI	2.0	2.0	1200	$2,195	$1.83	83d	1	0.41mi
1025 E Land Pl Milwaukee, WI	3.0	1.0	1560	$1,750	$1.12	119d	1	0.41mi
1720 N Astor St Milwaukee, WI	2.0	1.0	1000	$1,448	$1.45	10d	1	0.42mi
1720 N Astor St Milwaukee, WI	2.0	1.0	1000	$1,548	$1.55	57d	1	0.42mi
1703 N Astor St Milwaukee, WI	4.0	2.0	1800	$2,200	$1.22	139d	1	0.45mi
1925 N Water St #202 Milwaukee, WI	2.0	2.0	1576	$2,300	$1.46	139d	1	0.45mi
2146 N Commerce St Unit 2146 Milwaukee, WI	2.0	1.5	1555	$2,800	$1.80	62d	1	0.45mi
1775 N Astor St #1773 Milwaukee, WI	3.0	1.0	1000	$1,395	$1.40	84d	1	0.45mi
1910 N Water St Milwaukee, WI	2.0	1.0–2.0	828	$2,159	$2.61	0d	6	0.45mi
2130 N Commerce St Milwaukee, WI	2.0	2.5	1550	$2,495	$1.61	139d	1	0.46mi
1633 E North Ave Milwaukee, WI	2.0	1.0	1360	$2,100	$1.54	67d	1	0.47mi
1660 N Marshall St Unit 2 Milwaukee, WI	2.0	1.0	1390	$2,175	$1.56	139d	1	0.49mi
1660 N Marshall St Unit 1 Milwaukee, WI	3.0	1.0	1335	$2,175	$1.63	80d	1	0.49mi
1905 N Water St #205 Milwaukee, WI	2.0	2.0	1269	$2,595	$2.04	87d	1	0.50mi
1905 N Water St #205 Milwaukee, WI	2.0	2.0	1269	$2,295	$1.81	10d	1	0.50mi

HOA detail $716/mo · $8,592/yr condo

• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-09-23
   days on market $224,900 Active 223 DOM
2. 2026-09-22
   days on market $224,900 Active 222 DOM
3. 2026-09-21
   days on market $224,900 Active 221 DOM
4. 2026-09-20
   days on market $224,900 Active 220 DOM
5. 2026-09-19
   days on market $224,900 Active 219 DOM
6. 2026-09-18
   days on market $224,900 Active 218 DOM
7. 2026-09-17
   days on market $224,900 Active 217 DOM
8. 2026-09-16
   days on market $224,900 Active 216 DOM
9. 2026-09-15
   days on market $224,900 Active 215 DOM
10. 2026-09-14
    days on market $224,900 Active 214 DOM
11. 2026-09-13
    days on market $224,900 Active 213 DOM
12. 2026-09-12
    days on market $224,900 Active 212 DOM
13. 2026-09-11
    days on market $224,900 Active 211 DOM
14. 2026-09-05
    days on market $224,900 Active 205 DOM
15. 2026-09-04
    days on market $224,900 Active 204 DOM
16. 2026-09-03
    days on market $224,900 Active 203 DOM
17. 2026-08-31
    days on market $224,900 Active 200 DOM
18. 2026-08-29
    days on market $224,900 Active 198 DOM
19. 2026-08-28
    days on market $224,900 Active 197 DOM
20. 2026-08-27
    days on market $224,900 Active 196 DOM
21. 2026-08-26
    days on market $224,900 Active 195 DOM
22. 2026-08-25
    days on market $224,900 Active 194 DOM
23. 2026-08-24
    days on market $224,900 Active 193 DOM
24. 2026-08-23
    days on market $224,900 Active 192 DOM
25. 2026-08-22
    days on market $224,900 Active 191 DOM
26. 2026-08-21
    days on market $224,900 Active 190 DOM
27. 2026-08-20
    days on market $224,900 Active 189 DOM
28. 2026-08-19
    days on market $224,900 Active 188 DOM
29. 2026-08-18
    days on market $224,900 Active 187 DOM
30. 2026-08-17
    days on market $224,900 Active 186 DOM
31. 2026-08-16
    days on market $224,900 Active 185 DOM
32. 2026-08-15
    days on market $224,900 Active 184 DOM
33. 2026-08-14
    days on market $224,900 Active 183 DOM
34. 2026-08-13
    days on market $224,900 Active 182 DOM
35. 2026-08-12
    pricedays on market $224,900 Active 181 DOM
36. 2026-08-11
    days on market $249,900 Active 180 DOM
37. 2026-08-10
    days on market $249,900 Active 179 DOM
38. 2026-08-09
    days on market $249,900 Active 178 DOM
39. 2026-08-08
    days on market $249,900 Active 177 DOM
40. 2026-08-07
    days on market $249,900 Active 176 DOM
41. 2026-08-06
    days on market $249,900 Active 175 DOM
42. 2026-08-05
    days on market $249,900 Active 174 DOM
43. 2026-08-04
    days on market $249,900 Active 173 DOM
44. 2026-08-03
    days on market $249,900 Active 172 DOM
45. 2026-07-31
    days on market $249,900 Active 169 DOM
46. 2026-07-30
    days on market $249,900 Active 168 DOM
47. 2026-07-30
    days on market $249,900 Active 167 DOM
48. 2026-07-28
    days on market $249,900 Active 166 DOM
49. 2026-07-26
    days on market $249,900 Active 164 DOM
50. 2026-07-24
    days on market $249,900 Active 162 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥96°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: $25,004
• − Mortgage interest: −$12,598
• − Property taxes: −$3,374
• − Insurance: −$1,124
• − Repairs & maintenance: −$2,000
• − Management: −$2,000
• − HOA: −$8,592
• − Depreciation: −$6,543
• Taxable loss: −$11,227
• Est. tax savings @ 24.0%: +$2,694
• After-tax cash flow: $-4,795/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 · 13 photos

Good 75/100 Cosmetic rehab Est. rehab $6,275–$18,825 screening

This 3-bedroom corner unit is in good condition with some cosmetic updates needed. The spacious living area and natural light make it an attractive option for both resale and rental.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of updating
• Moderate bathroom fixtures — outdated and in need of updating

Value-add opportunities

• Resale update kitchen cabinets and countertops — modernizing the kitchen would attract more buyers ↑
• Resale update bathroom fixtures — modernizing the bathrooms would attract more buyers ↑
• Both paint interior walls — fresh paint would improve the overall appearance and appeal ↑
• Both replace countertops — new countertops would improve functionality and appearance ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

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

A Composite livability gradescore 81/100

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 · 995,758 people
• City population: 573,768
• Metro: Milwaukee-Waukesha, WI
• Population (ZIP): 25,861
• Household income: $71,034
• Rent vs Own: 78.6% rent · 21.4% own
• Severe rent burden: 8% of renters

---

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 White (75%)
• Race & ethnicity: White 75% Black 8% Two or more races 6% Hispanic / Latino 6% Asian 5%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Romanian 9% Portuguese 4% Lithuanian 2%
• Foreign-born: 10% · Canada, South Korea
• Languages at home: 89% English-only · Spanish 4% Other Indo-European 2% Other Asian/Pacific 1%

---

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: ▼ -133.46%
• Current HPI: 226.4316
• Rent YoY: ▲ 1.56%
• 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

-16.7% since first listed

6 events — show timeline

• 2026-04-24 Price Changed $249,900 METROMLS
• 2026-02-09 Listed $275,000 METROMLS
• 2026-01-01 Listing Removed — METROMLS
• 2025-09-20 Price Changed $275,000 METROMLS
• 2025-08-19 Price Changed $285,000 METROMLS
• 2025-06-13 Listed $299,900 METROMLS