209 E Chambers St · Milwaukee, WI 53212

$67,700

2 bd · 1.0 ba · 1,309 sqft · SingleFamily public records · 10 Days on market

Built 1925 Fair condition 0.25 ac lot

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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
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Condition / age +2.2/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks

This is a tax foreclosed property. For the first 30-days of the listing period, no offers below listing price will be considered per Wisconsin foreclosure law. Offers from Owner Occupants will be considered preferred bidders. Bids due by July 14th, 2026 at 10:00 am

Key facts

• 0.25 acre lot
• Built 1925
• Listed 10 days

Property features AI

Exterior

• Utilities: Municipal water; Municipal sewer
• Home design: Single-family, 1-story home; Estimated size range: 1251–1500; Year built information from assessor/public record
• Construction: Wood construction
• Exterior features: Wood exterior; Lot approximately 0.25 acres; Zoning: RT4

Interior

• Kitchen: Kitchen on main level (10 x 10)
• Bedrooms: Main-level master bedroom (10 x 10)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heat
• Interior features: Full basement; Living room on main level; Kitchen on main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $68k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $429 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $68k).
• Cap rate 13.9% 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); 129 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 31% of the median local income ($47k/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 $468 of loan paydown is wiped out by about $2k 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 $19k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $67,700

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 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: 1.78% ✓
• Cap rate: 13.90%
• Cash-on-cash: 27.17%
• DSCR: 2.21
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $248,710
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3061 N Buffum St	0.16mi	3/2.0 (+1)	1,265 (-3%)	10mo	$239,900	$190	70
3415 N 2nd St	0.57mi	2/1.0	1,292 (-1%)	4mo	$150,000	$116	67
2555 N Pierce St	0.61mi	2/1.5	1,290 (-2%)	3mo	$342,000	$265	65
3165 N Bremen St	0.49mi	2/1.0	1,159 (-12%)	1mo	$210,000	$181	57
2760 N Booth St	0.38mi	3/1.0 (+1)	1,162 (-11%)	1mo	$175,000	$151	57
2908 N 6th St	0.47mi	3/1.0 (+1)	1,193 (-9%)	7mo	$360,000	$302	53
3170 N Humboldt Blvd	0.64mi	3/1.5 (+1)	1,427 (+9%)	0mo	$291,000	$204	48
2470 N Buffum St	0.65mi	3/1.5 (+1)	1,364 (+4%)	10mo	$170,000	$125	48
3173 N Bremen St	0.50mi	3/2.0 (+1)	1,204 (-8%)	8mo	$330,000	$274	48
910 E Hadley St	0.52mi	3/2.0 (+1)	1,215 (-7%)	12mo	$252,000	$207	45
2664 N Booth St	0.48mi	3/1.0 (+1)	1,135 (-13%)	12mo	$162,000	$143	41
915 E Clarke St	0.69mi	3/1.0 (+1)	1,160 (-11%)	7mo	$190,000	$164	38

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: 23.6%
• Equity multiple: 2.00×
• Total profit: $18,895
• Equity at exit: $10,094

10-year hold

• IRR: 32.8%
• Equity multiple: 4.30×
• Total profit: $62,467
• Equity at exit: $5,853

Cash invested: $18,956 (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: 129
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,208 high
• Mortgage (P&I): −$355
• Tax from tax record: −$142 /mo · $1,707/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $429

Break-even live

Break-even rent $665

Max offer price $67,700

Occupancy floor 59%

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: $16,925
• Closing costs: $2,031
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3042 N Palmer St #5 Milwaukee, WI	3.0	1.0	1718	$1,050	$0.61	24d	1	0.06mi
3029 N Holton St Milwaukee, WI	3.0	1.0	980	$1,200	$1.22	44d	1	0.18mi
3156 N 1st St Milwaukee, WI	2.0	1.0	900	$895	$0.99	44d	1	0.23mi
2808 N Palmer St Unit Lower Milwaukee, WI	2.0	1.0	1200	$875	$0.73	44d	1	0.23mi
2724 N Palmer St Milwaukee, WI	3.0	1.0	900	$1,300	$1.44	44d	1	0.34mi
3255 N Buffum St Unit 3255 Upper Milwaukee, WI	2.0	1.0	1100	$1,350	$1.23	44d	1	0.36mi
605 E Auer Ave Milwaukee, WI	2.0	1.0	1200	$1,200	$1.00	11d	1	0.36mi
2719 N 1st St Milwaukee, WI	2.0	1.0	1300	$1,095	$0.84	15d	1	0.36mi
2716A N Buffum St Milwaukee, WI	2.0	1.0	1100	$1,200	$1.09	21d	1	0.37mi
3352 N Richards St Unit Second floor Milwaukee, WI	2.0	1.0	1000	$1,150	$1.15	44d	1	0.46mi
3025 N 6th St Milwaukee, WI	2.0	1.0	1153	$1,125	$0.98	44d	1	0.49mi
3373 N Richards St Milwaukee, WI	2.0	1.0	950	$1,150	$1.21	24d	1	0.49mi
2772 N Bremen St Milwaukee, WI	2.0	1.0	900	$1,295	$1.44	44d	1	0.52mi
312 E Townsend St Unit 312 Milwaukee, WI	3.0	1.0	1400	$1,250	$0.89	24d	1	0.52mi
2772 N Bremen St #2774 Milwaukee, WI	3.0	1.0	1500	$1,795	$1.20	44d	1	0.53mi
3368 N Booth St #3374 Milwaukee, WI	2.0	1.0	900	$950	$1.06	24d	1	0.55mi
3368 N Booth St #3374 Milwaukee, WI	2.0	1.0	900	$950	$1.06	44d	1	0.55mi
2536 N Richards St Unit 1ST Milwaukee, WI	2.0	1.0	1200	$950	$0.79	44d	1	0.57mi
2577 N Vel R Phillips Ave Milwaukee, WI	3.0	1.0	1048	$1,400	$1.34	17d	1	0.61mi
2761 N Humboldt Blvd Unit First Floor Milwaukee, WI	3.0	1.0	1236	$1,600	$1.29	17d	1	0.62mi
2507 N Buffum St Milwaukee, WI	3.0	1.0	1300	$1,375	$1.06	20d	1	0.62mi
524 E Wright St Milwaukee, WI	3.0	1.0	900	$1,275	$1.42	15d	1	0.66mi
2636 N Weil St Milwaukee, WI	2.0	1.0	900	$1,100	$1.22	2d	1	0.68mi
919 E Clarke St Unit 4 Milwaukee, WI	2.0	1.0	1000	$1,295	$1.29	44d	1	0.70mi
400 E Meinecke Ave #402 Milwaukee, WI	3.0	1.0	1700	$1,800	$1.06	16d	1	0.75mi
3600 N Vel R. Phillips Ave Milwaukee, WI	2.0	1.0	900	$950	$1.06	4d	1	0.76mi
1106 E Clarke St Milwaukee, WI	2.0	1.0	950	$795	$0.84	44d	1	0.76mi
3703 N 1st St Unit Upper-3705 Milwaukee, WI	3.0	1.0	1034	$1,200	$1.16	44d	1	0.77mi
2552 N Humboldt Blvd Milwaukee, WI	3.0	1.0	1000	$1,595	$1.59	24d	1	0.80mi
2442 N Bremen St Milwaukee, WI	2.0	1.0	1100	$1,495	$1.36	44d	1	0.82mi
2518 N Humboldt Blvd Unit 2518 Lower Milwaukee, WI	2.0	1.0	1246	$1,275	$1.02	17d	1	0.83mi
3045 N 11th St #3047 Milwaukee, WI	3.0	1.0	1065	$1,175	$1.10	4d	1	0.84mi
1221 E Clarke St Milwaukee, WI	3.0	1.0	950	$1,400	$1.47	44d	1	0.84mi
2429 N Weil St Milwaukee, WI	3.0	1.0	1300	$1,500	$1.15	44d	1	0.86mi
2407 N 6th St Milwaukee, WI	2.0	1.0	897	$1,100	$1.23	44d	1	0.89mi
329 E Garfield Ave Milwaukee, WI	2.0	1.5	1100	$1,350	$1.23	4d	1	0.98mi
1326 W Burleigh St Unit 1326 Lower Milwaukee, WI	2.0	1.0	900	$825	$0.92	2d	1	0.99mi
3298 N 13th St Milwaukee, WI	3.0	1.0	885	$895	$1.01	44d	1	1.00mi
2110 N Palmer St Milwaukee, WI	2.0	1.0	1100	$1,985	$1.80	4d	1	1.02mi
2752 N Bartlett Ave Apt 1 Milwaukee, WI	2.0	1.0	1100	$1,745	$1.59	44d	1	1.06mi

Listing history 8 events

1. 2026-06-18
   days on market $67,700 Active 10 DOM
2. 2026-06-17
   days on market $67,700 Active 9 DOM
3. 2026-06-16
   days on market $67,700 Active 8 DOM
4. 2026-06-15
   days on market $67,700 Active 7 DOM
5. 2026-06-13
   days on market $67,700 Active 5 DOM
6. 2026-06-13
   days on market $67,700 Active 4 DOM
7. 2026-06-08
   remarks 265-char remark
8. 2026-06-08
   listed $67,700 Active 1 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: $1,707 · $142/mo
• Projected year-2 tax: $1,707 · $142/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $14,500
• − Mortgage interest: −$3,792
• − Property taxes: −$1,707
• − Insurance: −$338
• − Repairs & maintenance: −$1,160
• − Management: −$1,160
• − Depreciation: −$1,969
• Taxable income: $4,373
• Est. tax owed @ 24.0%: −$1,050
• After-tax cash flow: $4,100/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 · 1 photo

Fair 45/100 Moderate rehab

This tax foreclosed property requires moderate renovations, including exterior and interior painting, window repair/replacement, and HVAC system replacement. These updates will significantly enhance its resale and rental value.

Repairs flagged

• Major exterior paint — Peeling paint
• Major interior paint — Peeling paint
• Major windows — Visible wear

Value-add opportunities

• Both paint exterior and interior — Fresh paint enhances curb appeal and interior aesthetics
• Both repair and replace windows — New windows improve energy efficiency and curb appeal
• Both replace HVAC system — A new HVAC system improves comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior paint · Peeling paint	Major	$15,000–50,000
interior paint · Peeling paint	Major	$15,000–50,000
windows · Visible wear	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both paint exterior and interior — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both repair and replace windows — New windows improve energy efficiency and curb appeal ↑
• Both replace HVAC system — A new HVAC system improves comfort and energy efficiency ↑

ⓘ 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

1 event — show timeline

• 2026-06-08 Listed $67,700 METROMLS

Property tax history

-12.7%/yr

Latest (2024): $1,707 · -49.9% YoY. Source: county tax records.