3252 N 29th St · Milwaukee, WI 53216

$89,500

5 bd · 2.0 ba · 1,702 sqft · MultiFamily public records · 280 Days on market

Built 1915 3,920 sqft lot $53/sqft · 58% above area

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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
• Appreciation +5.7/10.0
• Rent growth +4.3/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Spacious 4-bedroom home featuring a 2-car garage, currently rented for $975 per month. This property offers a strong investment opportunity with steady rental income already in place. With generous room sizes and convenient parking, it's a practical choice for both investors and future occupants.

Key facts

• 3,920 sq ft lot
• 2 garage spots
• Built 1915

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $90k.

Deal economics

• At list price, monthly cash flow is $975 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.4% 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 (+7.0%/yr); 126 active listings in the ZIP; 6 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).
• At $2,043/mo this rent would consume 52% of the median local household income ($47k/yr) (locally 2202% 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 $2k of equity ($619 loan paydown + $1k appreciation (1.3% local appreciation)).
• Milwaukee County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (1.3% appreciation + 7.0% rent growth), your $25k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 280 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $72k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $78,760 (12.0% below list)

Questions for the listing agent

1. It's been on market 280 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1915 — 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.28% ✓
• Cap rate: 19.36%
• Cash-on-cash: 46.67%
• DSCR: 3.08
• GRM: 3.6

CMA / ARV

• ARV (median comp): $56,540
• List price: $89,500
• Delta: 58.29%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3221 N 29th St	0.05mi	5/2.0	1,688 (-1%)	4mo	$127,000	$75	93
3233 W Auer Ave	0.29mi	4/2.0 (-1)	1,657 (-3%)	1mo	$78,500	$47	76
2972 N 28th St	0.35mi	4/2.0 (-1)	1,757 (+3%)	0mo	$141,806	$81	73
3260 N 34th St Unit 3260A	0.32mi	4/2.0 (-1)	1,776 (+4%)	2mo	$86,000	$48	71
2866 N 34th St Unit 2866A	0.59mi	5/2.0	1,713 (+1%)	4mo	$68,000	$40	68
3259 N 35th St	0.41mi	4/2.0 (-1)	1,773 (+4%)	3mo	$185,000	$104	66
3172 N 40th St Unit 3172A	0.69mi	6/2.0 (+1)	1,744 (+2%)	4mo	$145,000	$83	56
2847 N 26th St	0.54mi	4/2.0 (-1)	1,863 (+10%)	2mo	$70,000	$38	52
2873 N 34th St #2875	0.59mi	4/2.0 (-1)	1,888 (+11%)	1mo	$108,500	$57	48
3955 N 30th St #3957	0.73mi	4/2.0 (-1)	1,568 (-8%)	1mo	$190,000	$121	47
2760 N 35th St Unit 2760A	0.73mi	5/2.0	1,897 (+12%)	2mo	$107,500	$57	45
2022 W Keefe Ave Unit 2022A	0.65mi	4/2.0 (-1)	1,914 (+12%)	1mo	$55,000	$29	43

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

Projected returns pro-forma

1.33% appreciation · 7.01% rent growth · sell at horizon

5-year hold

• IRR: 53.7%
• Equity multiple: 3.95×
• Total profit: $73,819
• Equity at exit: $32,093

10-year hold

• IRR: 56.6%
• Equity multiple: 9.03×
• Total profit: $201,238
• Equity at exit: $43,865

Cash invested: $25,060 (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 53216

• Home prices YoY: 0.3%
• Rents YoY: 7.0%
• Active inventory: 126
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $2,043 high
• Mortgage (P&I): −$469
• Tax from tax record: −$133 /mo · $1,596/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$429
• Net cashflow: $975

Break-even live

Break-even rent $810

Max offer price $89,500

Occupancy floor 47%

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: $22,375
• Closing costs: $2,685
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2704 W Concordia Ave Unit Na Milwaukee, WI	5.0	2.0	1856	$2,500	$1.35	23d	1	0.12mi
3388 N 27th St Unit 3388 Front House Milwaukee, WI	4.0	1.0	1212	$1,550	$1.28	4d	1	0.24mi
3123 N 42nd St Milwaukee, WI	4.0	1.0	1500	$1,700	$1.13	23d	1	0.87mi
2308 W Clarke St Milwaukee, WI	4.0	2.0	1545	$1,750	$1.13	23d	1	0.90mi
2432 N 28th St Milwaukee, WI	5.0	1.5	1876	$1,600	$0.85	43d	1	1.02mi
2116 W Atkinson Ave Unit A Milwaukee, WI	4.0	1.0	1707	$2,000	$1.17	1d	1	1.08mi

Listing history 29 events

1. 2026-06-18
   days on market $89,500 Active 280 DOM
2. 2026-06-17
   days on market $89,500 Active 279 DOM
3. 2026-06-16
   days on market $89,500 Active 278 DOM
4. 2026-06-15
   days on market $89,500 Active 277 DOM
5. 2026-06-13
   days on market $89,500 Active 275 DOM
6. 2026-06-13
   days on market $89,500 Active 274 DOM
7. 2026-06-09
   days on market $89,500 Active 271 DOM
8. 2026-06-08
   days on market $89,500 Active 270 DOM
9. 2026-06-07
   days on market $89,500 Active 269 DOM
10. 2026-06-05
    days on market $89,500 Active 266 DOM
11. 2026-06-03
    days on market $89,500 Active 265 DOM
12. 2026-06-02
    days on market $89,500 Active 264 DOM
13. 2026-06-01
    days on market $89,500 Active 263 DOM
14. 2026-05-31
    days on market $89,500 Active 262 DOM
15. 2025-11-05
    price $89,500 297-char remark

    Show marketing remark (297 chars)

    Spacious 4-bedroom home featuring a 2-car garage, currently rented for $975 per month. This property offers a strong investment opportunity with steady rental income already in place. With generous room sizes and convenient parking, it's a practical choice for both investors and future occupants.

16. 2025-09-11
    listed $90,000 Active 297-char remark

    Show marketing remark (297 chars)

    Spacious 4-bedroom home featuring a 2-car garage, currently rented for $975 per month. This property offers a strong investment opportunity with steady rental income already in place. With generous room sizes and convenient parking, it's a practical choice for both investors and future occupants.

17. 2025-08-23
    historical 112-char remark

    Show marketing remark (112 chars)

    Huge 5 bed 2 bath house ready for a new owner. Currently rented low at $975 per month. Room sizes are estimates.

18. 2025-07-14
    price $100,800 112-char remark

    Show marketing remark (112 chars)

    Huge 5 bed 2 bath house ready for a new owner. Currently rented low at $975 per month. Room sizes are estimates.

19. 2025-05-28
    price $102,800 112-char remark

    Show marketing remark (112 chars)

    Huge 5 bed 2 bath house ready for a new owner. Currently rented low at $975 per month. Room sizes are estimates.

20. 2025-05-20
    price $107,800 112-char remark

    Show marketing remark (112 chars)

    Huge 5 bed 2 bath house ready for a new owner. Currently rented low at $975 per month. Room sizes are estimates.

21. 2025-04-30
    price $107,900 112-char remark

    Show marketing remark (112 chars)

    Huge 5 bed 2 bath house ready for a new owner. Currently rented low at $975 per month. Room sizes are estimates.

22. 2025-03-03
    listed $109,900 Active 112-char remark

    Show marketing remark (112 chars)

    Huge 5 bed 2 bath house ready for a new owner. Currently rented low at $975 per month. Room sizes are estimates.

23. 2024-10-04
    soldstatus $72,500
24. 2021-02-17
    soldstatus $135,000
25. 2017-03-20
    soldstatus $240,000
26. 2017-03-20
    soldstatus $350,000
27. 2004-12-27
    soldstatus $90,000
28. 1998-02-05
    soldstatus $38,000
29. 1998-01-01
    soldstatus $38,000

ⓘ 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: $1,596 · $133/mo
• Projected year-2 tax: $1,626 · $135/mo
• Expected delta: +$30/yr (+$3/mo · 1.9%)

ⓘ 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: $24,521
• − Mortgage interest: −$5,013
• − Property taxes: −$1,596
• − Insurance: −$448
• − Repairs & maintenance: −$1,962
• − Management: −$1,962
• − Depreciation: −$2,604
• Taxable income: $10,937
• Est. tax owed @ 24.0%: −$2,625
• After-tax cash flow: $9,071/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): 30,345
• Household income: $46,752
• Rent vs Own: 52.7% rent · 47.3% own
• Severe rent burden: 2202.0

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 (81%)
• Race & ethnicity: Black 81% White 9% Hispanic / Latino 5% Two or more races 5% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 1%
• Foreign-born: 3% · Canada, Philippines, China
• Languages at home: 93% English-only · Spanish 4% Other Asian/Pacific 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: ▲ 1.33%
• Current HPI: 381.0954
• Rent YoY: ▲ 7.01%
• 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

+135.5% since first listed

15 events — show timeline

• 2025-11-05 Price Changed $89,500 METROMLS
• 2025-09-11 Listed $90,000 METROMLS
• 2025-08-23 Listing Removed — METROMLS
• 2025-07-14 Price Changed $100,800 METROMLS
• 2025-05-28 Price Changed $102,800 METROMLS
• 2025-05-20 Price Changed $107,800 METROMLS
• 2025-04-30 Price Changed $107,900 METROMLS
• 2025-03-03 Listed $109,900 METROMLS
• 2024-10-04 Sold (Public Records) $72,500 Public Records
• 2021-02-17 Sold (Public Records) $135,000 Public Records
• 2017-03-20 Sold (Public Records) $350,000 Public Records
• 2017-03-20 Sold (Public Records) $240,000 Public Records
• 2004-12-27 Sold (Public Records) $90,000 Public Records
• 1998-02-05 Sold (Public Records) $38,000 Public Records
• 1998-01-01 Sold (Public Records) $38,000 Public Records

Property tax history

-2.7%/yr

Latest (2024): $1,596 · -46.8% YoY. Source: county tax records.