6017 N 37th St · Milwaukee, WI 53209

$107,700

2 bd · 1.0 ba · 902 sqft · SingleFamily public records · 23 Days on market

Built 1931 5,227 sqft lot Est $124k · 13% under

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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 +26.9/30.0
• ARV discount +13.6/15.0
• DSCR +9.3/10.0
• 1% rule +7.6/10.0
• Rent growth +4.7/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Milwaukee, WI. 2 bedrooms, 1 bath ranch home waiting for new owner. Beautiful refinished hardwood floors in dining room, living room and one of the bedrooms. Home has a lot of character but does need some TLC. Full basement with bar, pool table and ping pong table included. 2 car garage and fenced in yard. Appliances included. The roof on the house and garage have been replaced app. 5 years ago, single layer.

Key facts

• Hardwood floors
• Fenced in yard
• 5,227 sq ft lot

Tags

• HARDWOOD FLOORS
• FENCED IN YARD

Property features AI

Finance

• Other: Lot size about 0.12 acres (less than 1/2 acre)

Exterior

• Parking: Detached 2-car garage with opener
• Utilities: Municipal water; Municipal sewer; Natural gas
• Home design: Single-family, one-story home; Information source for year built: Assessor/Public Record; Zoning: RS6
• Construction: Aluminum/steel exterior
• Exterior features: Fenced yard; Sidewalks

Interior

• Kitchen: Kitchen on main level (10 x 7)
• Bedrooms: Main-level primary bedroom (12 x 11); Main-level second bedroom (11 x 10)
• Flooring: Wood floors
• Bathrooms: One full bathroom with shower-over-tub
• Heating & cooling: Forced air heating; Natural gas heat
• Interior features: Wood floors; Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $108k.

Deal economics

• At list price, monthly cash flow is $298 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $108k).
• Recommended offer: $106k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.6% 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 (+8.6%/yr); 168 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• This rent runs 34% of the median local income ($48k/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 $745 of loan paydown is wiped out by about $3k 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 + 8.0% rent growth), your $30k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y 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 $27k; list at $108k implies a 302% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1931 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $106,084 (1.5% below list)

Questions for the listing agent

1. Built in 1931 — 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: 1.26% ✓
• Cap rate: 9.61%
• Cash-on-cash: 11.86%
• DSCR: 1.53
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $124,476
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6148 N 38th St	0.20mi	2/1.0	919 (+2%)	11mo	$127,000	$138	78
5791 N 32nd St	0.42mi	2/1.0	882 (-2%)	1mo	$125,000	$142	76
6170 N 36th St	0.25mi	3/1.0 (+1)	894 (-1%)	11mo	$120,000	$134	73
5760 N 32nd St	0.47mi	3/1.0 (+1)	882 (-2%)	1mo	$128,000	$145	68
5778 N 32nd St	0.45mi	3/1.0 (+1)	926 (+3%)	5mo	$106,000	$114	66
5738 N 38th St	0.33mi	2/1.0	820 (-9%)	6mo	$157,000	$191	64
5629 N 35th St	0.51mi	2/1.0	936 (+4%)	7mo	$93,000	$99	64
4215 W Florist Ave	0.33mi	3/1.0 (+1)	977 (+8%)	2mo	$140,000	$143	64
5915 N 38th St	0.15mi	3/1.0 (+1)	782 (-13%)	6mo	$65,000	$83	61
5565 N 32nd St	0.65mi	2/1.0	966 (+7%)	3mo	$100,000	$104	56
4222 W Thurston Ave	0.50mi	2/1.0	781 (-13%)	12mo	$146,500	$188	44
5502 N 35th St	0.68mi	2/1.0	997 (+10%)	11mo	$110,000	$110	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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 7.0%
• Equity multiple: 1.29×
• Total profit: $8,731
• Equity at exit: $16,058

10-year hold

• IRR: 20.4%
• Equity multiple: 3.15×
• Total profit: $64,779
• Equity at exit: $9,312

Cash invested: $30,156 (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 53209

• Rents YoY: 8.6%
• Active inventory: 168
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,354 high
• Mortgage (P&I): −$565
• Tax from tax record: −$162 /mo · $1,944/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $298

Break-even live

Break-even rent $977

Max offer price $107,700

Occupancy floor 73%

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: $26,925
• Closing costs: $3,231
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6110 N 39th St Milwaukee, WI	2.0	1.0	703	$1,395	$1.98	4d	1	0.18mi
6148 N 39th St Milwaukee, WI	2.0	1.0	792	$1,175	$1.48	43d	1	0.22mi
5435 N 40th St Milwaukee, WI	2.0	1.0	850	$1,150	$1.35	17d	1	0.76mi
6600 N Sidney Pl Glendale, WI	1.0–2.0	1.0	800	$1,587	$1.98	3d	13	0.94mi
5237 N 34th St Unit 5237 Lower Milwaukee, WI	2.0	1.0	956	$1,350	$1.41	23d	1	1.00mi
5165-5167 N 45th St Unit 5165 Milwaukee, WI	3.0	1.0	1020	$1,200	$1.18	17d	1	1.20mi
4610 W Eggert Pl #4612 Milwaukee, WI	3.0	1.0	852	$1,095	$1.29	23d	1	1.24mi
4127 W Kiley Ave Unit A Milwaukee, WI	3.0	1.0	1025	$1,250	$1.22	43d	1	1.25mi
5688 N 56th St Milwaukee, WI	3.0	1.0	850	$1,445	$1.70	12d	1	1.25mi
5032 N 32nd St Milwaukee, WI	3.0	2.0	1089	$1,750	$1.61	12d	1	1.29mi
5050 N 47th St Milwaukee, WI	2.0	1.0	1092	$1,700	$1.56	43d	1	1.36mi
1633 W Bender Rd Apt 11C Glendale, WI	2.0	2.0	1000	$1,725	$1.73	23d	1	1.41mi
5830 N 61st St Milwaukee, WI	3.0	1.0	1024	$1,450	$1.42	43d	1	1.43mi
6026 W Carmen Ave Milwaukee, WI	2.0	1.0	672	$1,195	$1.78	23d	1	1.44mi
5657 N 60th St #5659 Milwaukee, WI	3.0	1.0	878	$995	$1.13	17d	1	1.46mi
6535 N 58th St Milwaukee, WI	2.0	1.0	962	$1,195	$1.24	17d	1	1.47mi
1616 W Bender Rd Glendale, WI	1.0	1.0	801	$1,550	$1.94	23d	1	1.47mi
1616 W Bender Rd Glendale, WI	2.0	2.0	764	$1,775	$2.32	2d	1	1.47mi

Listing history 18 events

1. 2026-06-18
   days on market $107,700 Active 23 DOM
2. 2026-06-17
   days on market $107,700 Active 22 DOM
3. 2026-06-16
   days on market $107,700 Active 21 DOM
4. 2026-06-15
   days on market $107,700 Active 20 DOM
5. 2026-06-13
   days on market $107,700 Active 18 DOM
6. 2026-06-13
   days on market $107,700 Active 17 DOM
7. 2026-06-09
   days on market $107,700 Active 14 DOM
8. 2026-06-08
   days on market $107,700 Active 13 DOM
9. 2026-06-07
   days on market $107,700 Active 12 DOM
10. 2026-06-05
    days on market $107,700 Active 9 DOM
11. 2026-06-03
    days on market $107,700 Active 8 DOM
12. 2026-06-02
    days on market $107,700 Active 7 DOM
13. 2026-06-01
    days on market $107,700 Active 6 DOM
14. 2026-05-31
    days on market $107,700 Active 5 DOM
15. 2026-05-26
    listed $107,700 Active
16. 2016-10-14
    soldstatus $26,800 Sold 412-char remark

    Show marketing remark (412 chars)

    Milwaukee, WI. 2 bedrooms, 1 bath ranch home waiting for new owner. Beautiful refinished hardwood floors in dining room, living room and one of the bedrooms. Home has a lot of character but does need some TLC. Full basement with bar, pool table and ping pong table included. 2 car garage and fenced in yard. Appliances included. The roof on the house and garage have been replaced app. 5 years ago, single layer.

17. 2016-09-20
    historical Contingent 412-char remark

    Show marketing remark (412 chars)

    Milwaukee, WI. 2 bedrooms, 1 bath ranch home waiting for new owner. Beautiful refinished hardwood floors in dining room, living room and one of the bedrooms. Home has a lot of character but does need some TLC. Full basement with bar, pool table and ping pong table included. 2 car garage and fenced in yard. Appliances included. The roof on the house and garage have been replaced app. 5 years ago, single layer.

18. 2016-09-05
    listed $26,800 Active 412-char remark

    Show marketing remark (412 chars)

    Milwaukee, WI. 2 bedrooms, 1 bath ranch home waiting for new owner. Beautiful refinished hardwood floors in dining room, living room and one of the bedrooms. Home has a lot of character but does need some TLC. Full basement with bar, pool table and ping pong table included. 2 car garage and fenced in yard. Appliances included. The roof on the house and garage have been replaced app. 5 years ago, single layer.

ⓘ 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: $1,944 · $162/mo
• Projected year-2 tax: $1,968 · $164/mo
• Expected delta: +$24/yr (+$2/mo · 1.2%)

ⓘ 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,251
• − Mortgage interest: −$6,033
• − Property taxes: −$1,944
• − Insurance: −$538
• − Repairs & maintenance: −$1,300
• − Management: −$1,300
• − Depreciation: −$3,133
• Taxable income: $2,002
• Est. tax owed @ 24.0%: −$480
• After-tax cash flow: $3,097/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): 45,170
• Household income: $48,486
• Rent vs Own: 56.2% rent · 43.8% own
• Severe rent burden: 3390.0

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 (66%)
• Race & ethnicity: Black 66% White 22% Hispanic / Latino 5% Two or more races 5% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 3% Portuguese 1% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 4% Other Asian/Pacific 1% Russian/Polish/Slavic 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: ▼ -194.98%
• Current HPI: 172.4275
• Rent YoY: ▲ 8.61%
• 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

+301.9% since first listed

4 events — show timeline

• 2026-05-26 Listed $107,700 METROMLS
• 2016-10-14 Sold (MLS) $26,800 METROMLS
• 2016-09-20 Contingent — METROMLS
• 2016-09-05 Listed $26,800 METROMLS

Property tax history

+2.6%/yr

Latest (2024): $1,944 · +16.9% YoY. Source: county tax records.