3926 N 24th Pl · Milwaukee, WI 53206

$104,900

3 bd · 1.0 ba · 1,585 sqft · SingleFamily public records · 68 Days on market

Built 1926 6,098 sqft lot $66/sqft · 17% below area Est $126k · 17% under

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Why this score? — see what drove the A- 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 +28.0/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +9.9/10.0
• 1% rule +7.8/10.0
• Rent growth +4.6/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks MLS

Opportunity meets potential in this spacious 4-bedroom, 2-bath home offering room to grow and instant equity upside. Inside, you'll find a functional layout with generous living space plus a finished rec room--perfect for entertaining, relaxing, or creating a home office or gym. Step outside to enjoy a fenced yard ideal for pets, play, or summer gatherings, along with a patio deck ready for grilling and outdoor living. This home does require some minimal cosmetic updates, but the value is clear--whether you're a homeowner looking to build equity or an investor seeking your next project. With solid bones and great space, this property is a smart buy with long-term potential. Don't miss your chance to turn this into something special!

Key facts

• Finished rec room
• Patio deck
• Fenced yard

Tags

• FINISHED REC ROOM
• FENCED YARD
• PATIO DECK

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $326 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $99k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.0% 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 (+8.3%/yr); 160 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $1,344/mo this rent would consume 55% of the median local household income ($29k/yr) (locally 2061% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $11k of equity ($725 loan paydown + $10k appreciation (10.0% local appreciation)).
• Milwaukee County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 8.0% rent growth), your $29k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $35k; list at $105k implies a 201% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $98,606 (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 1926 — 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 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: 1.28% ✓
• Cap rate: 10.02%
• Cash-on-cash: 13.32%
• DSCR: 1.59
• GRM: 6.5

CMA / ARV

• ARV (median comp): $126,187
• List price: $104,900
• Delta: -16.87%
• 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
4058 N 24th Pl	0.17mi	4/1.0 (+1)	1,561 (-2%)	3mo	$109,900	$70	82
3936 N 28th St	0.24mi	4/1.0 (+1)	1,584 (-0%)	3mo	$146,600	$93	81
3722 N 23rd St	0.27mi	3/1.5	1,698 (+7%)	2mo	$215,000	$127	71
3812 N 27th St	0.23mi	3/1.0	1,372 (-13%)	3mo	$79,900	$58	65
4230 N 25th St	0.34mi	3/2.0	1,731 (+9%)	0mo	$250,000	$144	64
3741 N 25th St	0.23mi	3/2.0	1,397 (-12%)	2mo	$195,000	$140	64
4354 N 29th St	0.61mi	4/2.0 (+1)	1,573 (-1%)	3mo	$200,000	$127	59
4444 N 26th St	0.66mi	3/1.0	1,472 (-7%)	2mo	$165,000	$112	55
4348 N 19th St	0.71mi	3/2.0	1,499 (-5%)	1mo	$230,000	$153	53
3840 N 18th St St	0.53mi	3/2.0	1,413 (-11%)	2mo	$120,000	$85	51
3927 N 16th St	0.62mi	4/2.0 (+1)	1,755 (+11%)	4mo	$161,900	$92	41
4487 N 21st St	0.75mi	3/1.5	1,384 (-13%)	3mo	$185,000	$134	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 36.5%
• Equity multiple: 3.89×
• Total profit: $85,026
• Equity at exit: $94,502

10-year hold

• IRR: 33.3%
• Equity multiple: 9.57×
• Total profit: $251,707
• Equity at exit: $203,798

Cash invested: $29,372 (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 53206

• Rents YoY: 8.3%
• Active inventory: 160
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,344 high
• Mortgage (P&I): −$550
• Tax from tax record: −$142 /mo · $1,703/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $326

Break-even live

Break-even rent $931

Max offer price $104,900

Occupancy floor 71%

Sensitivity live

Price	-10% $385	-5% $356	+0% $326	+5% $296	+10% $267
Rent	-10% $220	-5% $273	+0% $326	+5% $379	+10% $432
Rate	-1.0pp $379	-0.5pp $353	base $326	+0.5pp $299	+1.0pp $271

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: $26,225
• Closing costs: $3,147
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2116 W Atkinson Ave Unit A Milwaukee, WI	4.0	1.0	1707	$2,000	$1.17	2d	1	0.29mi
2106A W Keefe Ave Unit 2106 Lower Milwaukee, WI	3.0	1.0	1300	$1,100	$0.85	18d	1	0.49mi
4355 N 28th St Milwaukee, WI	2.0	1.0	1118	$975	$0.87	22d	1	0.58mi
3388 N 27th St Unit 3388 Front House Milwaukee, WI	4.0	1.0	1212	$1,550	$1.28	5d	1	0.58mi
3747 N 16th St Milwaukee, WI	2.0	1.0	1200	$875	$0.73	44d	1	0.64mi
2821 W Concordia Ave Milwaukee, WI	3.0	1.5	1098	$1,595	$1.45	3d	1	0.76mi
3416 N 17th St Unit 1 Milwaukee, WI	3.0	1.0	1200	$1,100	$0.92	44d	1	0.80mi
3124 N 33rd St Milwaukee, WI	2.0	1.0	1200	$1,200	$1.00	44d	1	1.09mi
3606 N 41st St Unit 3608 Milwaukee, WI	2.0	1.0	1095	$975	$0.89	44d	1	1.13mi
3925 N 42nd St Milwaukee, WI	3.0	1.0	1300	$1,675	$1.29	44d	1	1.14mi
2931 W Chambers St Milwaukee, WI	2.0	1.0	1400	$1,050	$0.75	24d	1	1.16mi
4048 N 7th St Milwaukee, WI	2.0	1.0	1100	$1,150	$1.05	24d	1	1.20mi
3908 N 6th St Milwaukee, WI	2.0	1.0	1100	$1,150	$1.05	24d	1	1.26mi
2870 N 29th St #2872 Milwaukee, WI	3.0	1.0	1300	$1,250	$0.96	44d	1	1.27mi
3148 N 39th St Milwaukee, WI	2.0	1.0	1100	$1,100	$1.00	44d	1	1.29mi
3045 N 11th St #3047 Milwaukee, WI	3.0	1.0	1065	$1,175	$1.10	5d	1	1.35mi
2765 N 26th St Unit 1 Milwaukee, WI	3.0	1.0	1125	$1,200	$1.07	5d	1	1.37mi
2765 N 26th St Unit 2 Milwaukee, WI	2.0	1.0	1100	$1,100	$1.00	5d	1	1.37mi
3122 N 42nd St Milwaukee, WI	3.0	1.0	1323	$1,495	$1.13	5d	1	1.45mi
5032 N 32nd St Milwaukee, WI	3.0	2.0	1089	$1,750	$1.61	13d	1	1.46mi
3123 N 42nd St Milwaukee, WI	4.0	1.0	1500	$1,700	$1.13	24d	1	1.48mi

Listing history 16 events

1. 2026-06-16
   statusdays on market $104,900 Pending 68 DOM
2. 2026-06-15
   days on market $104,900 Active 67 DOM
3. 2026-06-13
   days on market $104,900 Active 65 DOM
4. 2026-06-13
   pricedays on market $104,900 Active 64 DOM
5. 2026-06-09
   days on market $119,900 Active 61 DOM
6. 2026-06-08
   days on market $119,900 Active 60 DOM
7. 2026-06-07
   days on market $119,900 Active 59 DOM
8. 2026-06-05
   days on market $119,900 Active 56 DOM
9. 2026-06-03
   days on market $119,900 Active 55 DOM
10. 2026-06-02
    days on market $119,900 Active 54 DOM
11. 2026-06-01
    days on market $119,900 Active 53 DOM
12. 2026-05-31
    days on market $119,900 Active 52 DOM
13. 2026-05-12
    price $119,900 742-char remark

    Show marketing remark (742 chars)

    Opportunity meets potential in this spacious 4-bedroom, 2-bath home offering room to grow and instant equity upside. Inside, you'll find a functional layout with generous living space plus a finished rec room--perfect for entertaining, relaxing, or creating a home office or gym. Step outside to enjoy a fenced yard ideal for pets, play, or summer gatherings, along with a patio deck ready for grilling and outdoor living. This home does require some minimal cosmetic updates, but the value is clear--whether you're a homeowner looking to build equity or an investor seeking your next project. With solid bones and great space, this property is a smart buy with long-term potential. Don't miss your chance to turn this into something special!

14. 2026-04-08
    listed $134,900 Active 742-char remark

    Show marketing remark (742 chars)

    Opportunity meets potential in this spacious 4-bedroom, 2-bath home offering room to grow and instant equity upside. Inside, you'll find a functional layout with generous living space plus a finished rec room--perfect for entertaining, relaxing, or creating a home office or gym. Step outside to enjoy a fenced yard ideal for pets, play, or summer gatherings, along with a patio deck ready for grilling and outdoor living. This home does require some minimal cosmetic updates, but the value is clear--whether you're a homeowner looking to build equity or an investor seeking your next project. With solid bones and great space, this property is a smart buy with long-term potential. Don't miss your chance to turn this into something special!

15. 1997-02-17
    soldstatus $34,900
16. 1997-01-01
    soldstatus $34,900

ⓘ 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: $1,703 · $142/mo
• Projected year-2 tax: $1,822 · $152/mo
• Expected delta: +$119/yr (+$10/mo · 7.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% 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: $16,128
• − Mortgage interest: −$5,876
• − Property taxes: −$1,703
• − Insurance: −$524
• − Repairs & maintenance: −$1,290
• − Management: −$1,290
• − Depreciation: −$3,052
• Taxable income: $2,392
• Est. tax owed @ 24.0%: −$574
• After-tax cash flow: $3,338/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): 19,887
• Household income: $29,336
• Rent vs Own: 67.8% rent · 32.2% own
• Severe rent burden: 2061.0

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 (91%)
• Race & ethnicity: Black 91% Two or more races 3% White 3% Hispanic / Latino 3%
• Common ancestry: Norwegian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2%

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: ▲ 133.03%
• Current HPI: 397.7151
• Rent YoY: ▲ 8.28%
• 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

+243.6% since first listed

4 events — show timeline

• 2026-05-12 Price Changed $119,900 METROMLS
• 2026-04-08 Listed $134,900 METROMLS
• 1997-02-17 Sold (Public Records) $34,900 Public Records
• 1997-01-01 Sold (Public Records) $34,900 Public Records

Property tax history

+4.7%/yr

Latest (2024): $1,703 · -71.0% YoY. Source: county tax records.