5107 N 51st Blvd · Milwaukee, WI 53218

$119,900

3 bd · 1.0 ba · 968 sqft · SingleFamily public records · 4 Days on market

Built 1951 5,227 sqft lot Est $145k · 17% under

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Why this score? — see what drove the C+ 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 +22.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.3/10.0
• 1% rule +6.7/10.0
• 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 MLS

TOTALLY REHABBED 3 bedroom aluminum started home. Completely move in condition. Gorgeous ceramic tile bath with all new fixtures. New kitchen cabinets, counters, flooring , and builtin microwave. New carpeting vinyl sided garage, vinyl windows, and fenced yard. Affordable living at it's best! Awesome opportunity!

Key facts

• Newer roof
• 5,227 sq ft lot
• Garage

Tags

• NEWER ROOF

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $210 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Cap rate 8.4% 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 (+5.3%/yr); 153 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 44% 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 37% 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 $829 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.
• At projected returns (-3.0% appreciation + 5.3% rent growth), your $34k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 21y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $102k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $119,900

Questions for the listing agent

1. Built in 1951 — 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. 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.
6. 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.
7. 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: 1.17% ✓
• Cap rate: 8.40%
• Cash-on-cash: 7.52%
• DSCR: 1.33
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $145,200
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5003 N 51st Blvd	0.14mi	3/1.0	934 (-4%)	1mo	$110,000	$118	87
5267 N 48th St	0.28mi	3/1.0	932 (-4%)	1mo	$183,000	$196	80
4941 N Sherman Blvd	0.54mi	3/1.0	973 (+0%)	0mo	$110,000	$113	74
4906 N 58th St	0.48mi	3/1.0	940 (-3%)	1mo	$100,000	$106	72
5269 N 57th St	0.43mi	3/1.0	1,033 (+7%)	2mo	$145,000	$140	67
4868 N 52nd St	0.30mi	2/1.0 (-1)	850 (-12%)	2mo	$145,605	$171	59
4235 W Fairmount Ave	0.56mi	3/2.0	1,044 (+8%)	1mo	$150,000	$144	56
4752 N 44th St	0.65mi	2/1.0 (-1)	913 (-6%)	1mo	$160,000	$175	54
4676 N 46th St	0.64mi	3/1.0	1,066 (+10%)	0mo	$172,500	$162	53
5466 N 57th St	0.57mi	3/1.0	1,108 (+14%)	1mo	$95,100	$86	48
5353 N 56th St	0.44mi	3/3.0	832 (-14%)	0mo	$125,000	$150	48
4872 N 63rd St	0.71mi	3/1.5	1,100 (+14%)	1mo	$207,900	$189	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: -2.1%
• Equity multiple: 0.92×
• Total profit: $-2,673
• Equity at exit: $17,877

10-year hold

• IRR: 10.1%
• Equity multiple: 1.87×
• Total profit: $29,352
• Equity at exit: $10,367

Cash invested: $33,572 (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: 153
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,399 high
• Mortgage (P&I): −$629
• Tax from tax record: −$216 /mo · $2,591/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $210

Break-even live

Break-even rent $1,132

Max offer price $119,900

Occupancy floor 80%

Sensitivity live

Price	-10% $278	-5% $244	+0% $210	+5% $176	+10% $142
Rent	-10% $100	-5% $155	+0% $210	+5% $266	+10% $321
Rate	-1.0pp $271	-0.5pp $241	base $210	+0.5pp $179	+1.0pp $148

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5050 N 47th St Milwaukee, WI	2.0	1.0	1092	$1,700	$1.56	44d	1	0.30mi
4610 W Eggert Pl #4612 Milwaukee, WI	3.0	1.0	852	$1,095	$1.29	24d	1	0.33mi
4852 N 48th St Unit 4852 Milwaukee, WI	2.0	1.0	830	$995	$1.20	3d	1	0.36mi
5165-5167 N 45th St Unit 5165 Milwaukee, WI	3.0	1.0	1020	$1,200	$1.18	18d	1	0.40mi
4340 W Eggert Pl Milwaukee, WI	4.0	1.0	1066	$1,695	$1.59	24d	1	0.47mi
4334 W Eggert Pl Milwaukee, WI	4.0	1.0	1077	$1,695	$1.57	24d	1	0.48mi
4727 N 46th St Milwaukee, WI	3.0	1.0	936	$1,700	$1.82	44d	1	0.56mi
4640 N 51st Blvd Milwaukee, WI	2.0	1.0	1075	$1,275	$1.19	44d	1	0.57mi
4703 N 45th St Milwaukee, WI	3.0	1.0	1031	$1,695	$1.64	24d	1	0.63mi
4702 N 44th St Milwaukee, WI	3.0	2.0	1050	$1,850	$1.76	44d	1	0.69mi
5688 N 56th St Milwaukee, WI	3.0	1.0	850	$1,445	$1.70	13d	1	0.83mi
5435 N 40th St Milwaukee, WI	2.0	1.0	850	$1,150	$1.35	18d	1	0.85mi
4479A N 44th St Milwaukee, WI	2.0	1.0	1000	$895	$0.90	44d	1	0.88mi
5657 N 60th St #5659 Milwaukee, WI	3.0	1.0	878	$995	$1.13	18d	1	0.88mi
6518 W Hampton Ave Unit 2 Milwaukee, WI	2.0	1.0	1100	$1,200	$1.09	44d	1	0.89mi
6221 W Thurston Ave #6223 Milwaukee, WI	3.0	1.0	800	$1,100	$1.38	20d	1	0.98mi
4661 N 38th St Unit 4661 Milwaukee, WI	2.0	1.0	1000	$845	$0.84	15d	1	0.99mi
5696 N 42nd St Milwaukee, WI	4.0	1.0	1023	$1,495	$1.46	24d	1	1.01mi
6026 W Carmen Ave Milwaukee, WI	2.0	1.0	672	$1,195	$1.78	24d	1	1.02mi
5659 N 64th St Unit 5659A Milwaukee, WI	2.0	1.0	1091	$1,300	$1.19	44d	1	1.04mi
5830 N 61st St Milwaukee, WI	3.0	1.0	1024	$1,450	$1.42	44d	1	1.07mi
4572 N 38th St Unit 2 Milwaukee, WI	2.0	1.0	600	$950	$1.58	44d	1	1.07mi
4651 N 36th St #4 Milwaukee, WI	2.0	1.0	747	$945	$1.27	24d	1	1.10mi
5237 N 34th St Unit 5237 Lower Milwaukee, WI	2.0	1.0	956	$1,350	$1.41	24d	1	1.10mi
5820 N 65th St #5822 Milwaukee, WI	2.0	1.0	700	$1,245	$1.78	44d	1	1.21mi
5823 N 65th St Unit Upper Milwaukee, WI	2.0	1.0	768	$1,295	$1.69	44d	1	1.23mi
5831 N 65th St Unit 5831 Milwaukee, WI	3.0	1.0	900	$1,195	$1.33	44d	1	1.24mi
5032 N 32nd St Milwaukee, WI	3.0	2.0	1089	$1,750	$1.61	13d	1	1.24mi
4843 N 72nd St Milwaukee, WI	3.0	1.0	1014	$1,485	$1.46	44d	1	1.31mi
5905 N 66th St Unit 66th Lower Milwaukee, WI	3.0	1.0	1000	$1,600	$1.60	17d	1	1.34mi
7348 W Medford Ave Unit 7348A Milwaukee, WI	2.0	1.0	1095	$950	$0.87	24d	1	1.36mi
5956 N 67th St Milwaukee, WI	2.0	1.0	925	$1,250	$1.35	44d	1	1.42mi
5958 N 67th St Milwaukee, WI	2.0	1.0	925	$1,250	$1.35	5d	1	1.42mi
5950 N 69th St Unit 1 Milwaukee, WI	2.0	1.0	1100	$1,100	$1.00	44d	1	1.50mi

Listing history 23 events

1. 2026-04-21
   status Pending
2. 2026-04-17
   listed $119,900 Active
3. 2017-08-25
   soldstatus $102,500
4. 2013-02-09
   listed $63,500 314-char remark

   Show marketing remark (314 chars)

   TOTALLY REHABBED 3 bedroom aluminum started home. Completely move in condition. Gorgeous ceramic tile bath with all new fixtures. New kitchen cabinets, counters, flooring , and builtin microwave. New carpeting vinyl sided garage, vinyl windows, and fenced yard. Affordable living at it's best! Awesome opportunity!

5. 2013-02-09
   historical 314-char remark

   Show marketing remark (314 chars)

   TOTALLY REHABBED 3 bedroom aluminum started home. Completely move in condition. Gorgeous ceramic tile bath with all new fixtures. New kitchen cabinets, counters, flooring , and builtin microwave. New carpeting vinyl sided garage, vinyl windows, and fenced yard. Affordable living at it's best! Awesome opportunity!

6. 2013-02-08
   historical 112-char remark

   Show marketing remark (112 chars)

   Investor owner Cape Cod. Price reduced. Great potential. Some hardwood floors. fenced backyard. Motivated seller

7. 2013-02-08
   listed $29,900 112-char remark

   Show marketing remark (112 chars)

   Investor owner Cape Cod. Price reduced. Great potential. Some hardwood floors. fenced backyard. Motivated seller

8. 2013-02-07
   listed $30,000
9. 2013-02-07
   historical
10. 2013-02-02
    historical
11. 2013-02-02
    listed $90,000
12. 2013-02-02
    historical
13. 2013-02-02
    listed $59,900
14. 2013-01-31
    listed $49,900
15. 2013-01-31
    historical
16. 2013-01-24
    historical
17. 2013-01-24
    listed $29,900
18. 2010-03-01
    soldstatus $25,000
19. 2006-08-03
    soldstatus $119,000
20. 2005-06-20
    soldstatus $80,000
21. 2005-06-02
    soldstatus $80,000
22. 2005-03-28
    listed $78,900
23. 1995-04-01
    soldstatus $35,000

ⓘ 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: $2,591 · $216/mo
• Projected year-2 tax: $2,591 · $216/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 ≥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: $16,785
• − Mortgage interest: −$6,716
• − Property taxes: −$2,591
• − Insurance: −$600
• − Repairs & maintenance: −$1,343
• − Management: −$1,343
• − Depreciation: −$3,488
• Taxable income: $705
• Est. tax owed @ 24.0%: −$169
• After-tax cash flow: $2,355/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

+242.6% since first listed

23 events — show timeline

• 2026-04-21 Pending — METROMLS
• 2026-04-17 Listed $119,900 METROMLS
• 2017-08-25 Sold (Public Records) $102,500 Public Records
• 2013-02-09 Listing Removed — METROMLS
• 2013-02-09 Listed $63,500 METROMLS
• 2013-02-08 Listed $29,900 METROMLS
• 2013-02-08 Listing Removed — METROMLS
• 2013-02-07 Listing Removed — METROMLS
• 2013-02-07 Listed $30,000 METROMLS
• 2013-02-02 Listed $90,000 METROMLS
• 2013-02-02 Listing Removed — METROMLS
• 2013-02-02 Listed $59,900 METROMLS
• 2013-02-02 Listing Removed — METROMLS
• 2013-01-31 Listing Removed — METROMLS
• 2013-01-31 Listed $49,900 METROMLS
• 2013-01-24 Listed $29,900 METROMLS
• 2013-01-24 Listing Removed — METROMLS
• 2010-03-01 Sold (MLS) $25,000 METROMLS
• 2006-08-03 Sold (Public Records) $119,000 Public Records
• 2005-06-20 Sold (Public Records) $80,000 Public Records
• 2005-06-02 Sold (MLS) $80,000 METROMLS
• 2005-03-28 Listed $78,900 METROMLS
• 1995-04-01 Sold (Public Records) $35,000 Public Records

Property tax history

+5.7%/yr

Latest (2024): $2,591 · +26.0% YoY. Source: county tax records.