5849 N 62nd St · Milwaukee, WI 53218

$149,900

3 bd · 1.0 ba · 915 sqft · SingleFamily public records · 16 Days on market

Built 1957 6,098 sqft lot Est $141k · 6% over

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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 +13.6/30.0
• ARV discount +4.6/15.0
• DSCR +4.1/10.0
• 1% rule +4.0/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this charming Milwaukee home offering comfort, functionality, and convenience. The interior features a practical layout with inviting living spaces filled with natural light. The kitchen provides ample room for meal preparation and storage, while the bedrooms offer comfortable accommodations for a variety of living needs. Outside, the yard provides space for outdoor enjoyment, gardening, or entertaining. Conveniently located near schools, parks, shopping, dining, and major roadways, this property offers easy access to everyday amenities and commuting routes.

Key facts

• 6,098 sq ft lot
• Garage
• Built 1957

Tags

• SPACE FOR OUTDOOR ENJOYMENT

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Municipal water; Municipal sewer; Natural gas
• Home design: Single-family, 1 story
• Construction: Information source lists year built in public records
• Exterior features: Vinyl exterior; Lot approximately 0.14 acres; Zoned residential

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Master bedroom on main level (10 x 11); Second bedroom on main level (8 x 11); Third bedroom on main level (12 x 9)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air
• Interior features: Full basement
• Laundry & utility: Natural gas heating

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $8 ($99/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $135k (9.7% below list).
• Recommended offer: $135k (9.7% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 5.1% in Milwaukee — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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+, 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.
• Zoned schools: Kluge Elementary (math 5% / reading 5%, grade F, #968 of 1,041 statewide, top 98%, 325 students, 90% FRL); James Madison Academic Campus (math 5% / reading 5%, grade F, #467 of 483 statewide, top 100%, 686 students, 89% FRL).
• Market conditions: Rents rising fast (+5.3%/yr); 152 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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 36% of the median local income ($46k/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 $1k of loan paydown is wiped out by about $4k 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 16 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $67k; list at $150k implies a 124% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $135,363 (9.7% below list)

Questions for the listing agent

1. Built in 1957 — 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 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?
4. 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?
5. 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?
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: 0.90% ✗
• Cap rate: 6.36%
• Cash-on-cash: 0.24%
• DSCR: 1.01
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $140,910
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5863 N 62nd St	0.02mi	3/1.0	905 (-1%)	1mo	$180,000	$199	97
5919 N 67th St	0.34mi	3/1.0	988 (+8%)	1mo	$155,000	$157	70
5359 N 62nd St	0.62mi	3/1.0	936 (+2%)	3mo	$111,375	$119	65
5272 N 65th St	0.74mi	3/1.0	912 (-0%)	1mo	$127,000	$139	64
5729 N 56th St	0.32mi	4/1.0 (+1)	1,026 (+12%)	2mo	$125,000	$122	59
5720 W Thurston Ave	0.33mi	2/1.0 (-1)	792 (-13%)	2mo	$164,900	$208	56
5728 N 57th St	0.29mi	4/1.0 (+1)	1,045 (+14%)	3mo	$175,000	$167	56
5351 N 55th St	0.73mi	3/1.0	845 (-8%)	3mo	$128,000	$151	51
5323 N 57 St	0.71mi	4/1.0 (+1)	978 (+7%)	2mo	$126,000	$129	48
5525 N 52nd St	0.68mi	2/1.0 (-1)	987 (+8%)	2mo	$152,000	$154	48
5353 N 56th St	0.70mi	3/3.0	832 (-9%)	1mo	$125,000	$150	44
5479 N 53rd St	0.67mi	3/2.0	1,037 (+13%)	2mo	$214,000	$206	41

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 · 5.29% rent growth · sell at horizon

5-year hold

• IRR: -13.3%
• Equity multiple: 0.51×
• Total profit: $-20,540
• Equity at exit: $22,351

10-year hold

• IRR: -1.1%
• Equity multiple: 0.92×
• Total profit: $-3,345
• Equity at exit: $12,961

Cash invested: $41,972 (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 →

ZIP-level market 53218

• Home prices YoY: -19.0%
• Rents YoY: 5.3%
• Active inventory: 152
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,354 high
• Mortgage (P&I): −$786
• Tax from tax record: −$213 /mo · $2,551/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $8

Break-even live

Break-even rent $1,343

Max offer price $149,900

Occupancy floor 94%

Sensitivity live

Price	-10% $93	-5% $51	+0% $8	+5% $-34	+10% $-77
Rent	-10% $-99	-5% $-45	+0% $8	+5% $62	+10% $115
Rate	-1.0pp $84	-0.5pp $46	base $8	+0.5pp $-31	+1.0pp $-70

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5830 N 61st St Milwaukee, WI	3.0	1.0	1024	$1,450	$1.42	45d	1	0.10mi
6026 W Carmen Ave Milwaukee, WI	2.0	1.0	672	$1,195	$1.78	25d	1	0.13mi
5820 N 65th St #5822 Milwaukee, WI	2.0	1.0	700	$1,245	$1.78	45d	1	0.16mi
5831 N 65th St Unit 5831 Milwaukee, WI	3.0	1.0	900	$1,195	$1.33	45d	1	0.18mi
5823 N 65th St Unit Upper Milwaukee, WI	2.0	1.0	768	$1,295	$1.69	45d	1	0.18mi
6221 W Thurston Ave #6223 Milwaukee, WI	3.0	1.0	800	$1,100	$1.38	21d	1	0.20mi
5905 N 66th St Unit 66th Lower Milwaukee, WI	3.0	1.0	1000	$1,600	$1.60	17d	1	0.25mi
5659 N 64th St Unit 5659A Milwaukee, WI	2.0	1.0	1091	$1,300	$1.19	45d	1	0.25mi
5657 N 60th St #5659 Milwaukee, WI	3.0	1.0	878	$995	$1.13	18d	1	0.26mi
5956 N 67th St Milwaukee, WI	2.0	1.0	925	$1,250	$1.35	45d	1	0.31mi
5958 N 67th St Milwaukee, WI	2.0	1.0	925	$1,250	$1.35	5d	1	0.31mi
5688 N 56th St Milwaukee, WI	3.0	1.0	850	$1,445	$1.70	14d	1	0.38mi
5950 N 69th St Unit 1 Milwaukee, WI	2.0	1.0	1100	$1,100	$1.00	45d	1	0.43mi
6535 N 58th St Milwaukee, WI	2.0	1.0	962	$1,195	$1.24	18d	1	0.90mi
7632 W Leon Ter Unit C Milwaukee, WI	2.0	1.5	1000	$1,200	$1.20	25d	1	1.04mi
5955 N 79th St Unit 1 Milwaukee, WI	3.0	1.0	1100	$1,650	$1.50	45d	1	1.07mi
5908 N 80th St Milwaukee, WI	3.0	1.0	1056	$1,550	$1.47	25d	1	1.10mi
8023 W Thurston Ave Unit 2 Milwaukee, WI	2.0	1.0	850	$850	$1.00	45d	1	1.17mi
8037 W Thurston Ave Milwaukee, WI	3.0	1.0	1040	$1,600	$1.54	45d	1	1.19mi
7348 W Medford Ave Unit 7348A Milwaukee, WI	2.0	1.0	1095	$950	$0.87	25d	1	1.19mi
5696 N 42nd St Milwaukee, WI	4.0	1.0	1023	$1,495	$1.46	25d	1	1.26mi
4610 W Eggert Pl #4612 Milwaukee, WI	3.0	1.0	852	$1,095	$1.29	25d	1	1.29mi
6518 W Hampton Ave Unit 2 Milwaukee, WI	2.0	1.0	1100	$1,200	$1.09	45d	1	1.32mi
5165-5167 N 45th St Unit 5165 Milwaukee, WI	3.0	1.0	1020	$1,200	$1.18	18d	1	1.33mi
5050 N 47th St Milwaukee, WI	2.0	1.0	1092	$1,700	$1.56	45d	1	1.35mi
4340 W Eggert Pl Milwaukee, WI	4.0	1.0	1066	$1,695	$1.59	25d	1	1.39mi
4334 W Eggert Pl Milwaukee, WI	4.0	1.0	1077	$1,695	$1.57	25d	1	1.40mi
4843 N 72nd St Milwaukee, WI	3.0	1.0	1014	$1,485	$1.46	45d	1	1.41mi
5435 N 40th St Milwaukee, WI	2.0	1.0	850	$1,150	$1.35	18d	1	1.43mi
6110 N 39th St Milwaukee, WI	2.0	1.0	703	$1,395	$1.98	5d	1	1.48mi
6148 N 39th St Milwaukee, WI	2.0	1.0	792	$1,175	$1.48	45d	1	1.49mi

Listing history 11 events

1. 2026-06-21
   days on market $149,900 Active 16 DOM
2. 2026-06-18
   days on market $149,900 Active 13 DOM
3. 2026-06-17
   days on market $149,900 Active 12 DOM
4. 2026-06-16
   days on market $149,900 Active 11 DOM
5. 2026-06-15
   days on market $149,900 Active 10 DOM
6. 2026-06-13
   days on market $149,900 Active 8 DOM
7. 2026-06-13
   days on market $149,900 Active 7 DOM
8. 2026-06-09
   days on market $149,900 Active 4 DOM
9. 2026-06-08
   days on market $149,900 Active 3 DOM
10. 2026-06-07
    remarks 575-char remark
11. 2026-06-07
    listed $149,900 Active 2 DOM

ⓘ 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: $2,551 · $213/mo
• Projected year-2 tax: $2,662 · $222/mo
• Expected delta: +$111/yr (+$9/mo · 4.4%)

ⓘ 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 ≥100°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,244
• − Mortgage interest: −$8,397
• − Property taxes: −$2,551
• − Insurance: −$750
• − Repairs & maintenance: −$1,299
• − Management: −$1,299
• − Depreciation: −$4,361
• Taxable loss: −$2,413
• Est. tax savings @ 24.0%: +$579
• After-tax cash flow: $678/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): 41,196
• Household income: $45,642
• Rent vs Own: 57.1% rent · 42.9% own
• Severe rent burden: 2421.0

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 (72%)
• Race & ethnicity: Black 72% Asian 10% White 10% Hispanic / Latino 5% Two or more races 3%
• Common ancestry: Romanian 1% Lithuanian 1%
• Foreign-born: 6% · Philippines, Canada
• Languages at home: 89% English-only · Other Asian/Pacific 7% Spanish 3%

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: ▼ -76.44%
• Current HPI: 325.1975
• Rent YoY: ▲ 5.29%
• 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

+294.5% since first listed

4 events — show timeline

• 2026-06-05 Listed $149,900 METROMLS
• 2020-07-21 Sold (Public Records) $67,000 Public Records
• 1995-09-01 Sold (Public Records) $37,000 Public Records
• 1984-08-01 Sold (Public Records) $38,000 Public Records

Property tax history

+2.9%/yr

Latest (2024): $2,551 · -25.5% YoY. Source: county tax records.