1444 N 35th St · Milwaukee, WI 53208

$33,750

4 bd · 2.5 ba · 1,732 sqft · MultiFamily public records · 104 Days on market

Built 1906 3,484 sqft lot $19/sqft · 64% below 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
• Rent growth +5.0/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

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

This property is being offered as a tax foreclosure by the City of Milwaukee. Please see attached scope of work with the essential renovation costs of $26,680 and the total scope of work totaling $30,480. Room and lot sizes are estimates & all information should be verified. Property being sold in 'as-is' condition. Property is subject to a performance deposit. Earnest money to be paid to Knight Barry Title and can be mailed or dropped off. Please indicate Knight Barry will be holding EM.

Key facts

• 3,484 sq ft lot
• Built 1906
• Listed 104 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath multifamily listed at $34k.

Deal economics

• At list price, monthly cash flow is $787 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $34k).
• Recommended offer: $31k (9.0% below list) — sets the bar for market timing.
• Cap rate 34.3% 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 (+10.8%/yr); 92 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 31% of the median local income ($53k/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 $234 of loan paydown is wiped out by about $1k 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 $9k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($31k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 14y ago; this cycle's ask has dropped $11k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price; built in 1906 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $30,712 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1906 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 4.04% ✓
• Cap rate: 34.29%
• Cash-on-cash: 100.00%
• DSCR: 5.45
• GRM: 2.1

CMA / ARV

• ARV (median comp): $92,704
• List price: $33,750
• Delta: -63.59%
• 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
1506 N 33rd St Unit 1506A	0.13mi	4/2.0	1,778 (+3%)	12mo	$69,900	$39	78
1536 N 38th St #1538	0.18mi	4/2.0	1,970 (+14%)	6mo	$135,000	$69	62
2162 N 35th St	0.63mi	5/2.0 (+1)	1,750 (+1%)	2mo	$8,500	$5	60
3709 W Miller Ln	0.54mi	3/2.0 (-1)	1,796 (+4%)	2mo	$235,000	$131	60
1817 N 36th St #1819	0.29mi	4/2.0	1,884 (+9%)	12mo	$135,000	$72	60
1222 N 26th St #1224	0.61mi	4/2.0	1,888 (+9%)	0mo	$155,000	$82	54
1950 N 40th St #1952	0.54mi	4/2.0	1,909 (+10%)	10mo	$130,000	$68	48
2149 N 41st St	0.72mi	4/2.0	1,931 (+12%)	1mo	$33,000	$17	45
1440 N 28th St	0.45mi	5/2.0 (+1)	1,982 (+14%)	5mo	$95,000	$48	44
2137 N 31st St	0.66mi	5/2.0 (+1)	1,919 (+11%)	1mo	$138,500	$72	43
2013 N 41st St #2015	0.62mi	4/2.0	1,876 (+8%)	16mo	$40,000	$21	42
936 N 37th St	0.51mi	3/2.0 (-1)	1,475 (-15%)	11mo	$145,000	$98	35

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: —
• Equity multiple: 6.50×
• Total profit: $51,957
• Equity at exit: $5,032

10-year hold

• IRR: —
• Equity multiple: 16.12×
• Total profit: $142,888
• Equity at exit: $2,918

Cash invested: $9,450 (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 53208

• Home prices YoY: -27.1%
• Rents YoY: 10.8%
• Active inventory: 92
• Price-to-rent: 2.1×

Monthly cashflow live

• Estimated rent: $1,365 high
• Mortgage (P&I): −$177
• Tax from tax record: −$100 /mo · $1,199/yr
• Insurance: −$14
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $787

Break-even live

Break-even rent $368

Max offer price $33,750

Occupancy floor 37%

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: $8,438
• Closing costs: $1,012
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1515 N 32nd St Unit 1515 Milwaukee, WI	3.0	1.0	1200	$1,245	$1.04	4d	1	0.14mi
1639 N 33rd St Milwaukee, WI	3.0	1.0	1424	$950	$0.67	24d	1	0.18mi
2001 N 38th St #2003 Milwaukee, WI	3.0	1.0	1326	$950	$0.72	2d	1	0.51mi
1239 N 26th St Unit 1 Milwaukee, WI	3.0	1.0	1300	$1,400	$1.08	44d	1	0.57mi
1239 N 26th St Unit 1 Milwaukee, WI	3.0	1.0	1300	$1,400	$1.08	44d	1	0.57mi
2478-2480 W Juneau Ave Unit 2478 Milwaukee, WI	4.0	1.0	1375	$1,495	$1.09	24d	1	0.66mi
2201 N 32nd St Unit 2201 Milwaukee, WI	3.0	1.0	1100	$1,195	$1.09	16d	1	0.66mi
2251 N 41st St Unit Lower Milwaukee, WI	3.0	1.0	1187	$1,198	$1.01	15d	1	0.82mi
2403-2405 N 39th St Unit 2403 Lower Milwaukee, WI	3.0	1.0	1200	$995	$0.83	11d	1	0.91mi
2403-2405 N 39th St Unit 2405 Upper Milwaukee, WI	3.0	1.0	1141	$995	$0.87	11d	1	0.91mi
2137 N 47th St Milwaukee, WI	5.0	2.0	1723	$1,850	$1.07	15d	1	0.97mi
2119 W Brown St Milwaukee, WI	3.0	1.0	1754	$995	$0.57	3d	1	0.98mi
2432 N 28th St Milwaukee, WI	5.0	1.5	1876	$1,600	$0.85	44d	1	1.01mi
4802 W Wells St Unit 4802-1 Milwaukee, WI	3.0	2.0	1700	$1,799	$1.06	44d	1	1.11mi
3520 W Mount Vernon Ave Unit 3520 Milwaukee, WI	4.0	1.0	1279	$1,450	$1.13	2d	1	1.11mi
2809 W Clarke St Unit 12811 Milwaukee, WI	3.0	1.0	1400	$1,200	$0.86	17d	1	1.16mi
3100 W Center St Milwaukee, WI	3.0	2.0	1174	$1,531	$1.30	2d	1	1.26mi
2409 N 49th St Milwaukee, WI	3.0	1.0	1335	$1,248	$0.93	44d	1	1.28mi
501 N 20th St Apt C Milwaukee, WI	3.0	2.0	1122	$1,800	$1.60	17d	1	1.34mi
2308 W Clarke St Milwaukee, WI	4.0	2.0	1545	$1,750	$1.13	24d	1	1.36mi
2438 N 51st St Unit 2 Milwaukee, WI	3.0	1.0	1300	$1,650	$1.27	24d	1	1.38mi
2713 N 44th St Milwaukee, WI	3.0	1.0	1450	$1,350	$0.93	44d	1	1.40mi
2765 N 26th St Unit 1 Milwaukee, WI	3.0	1.0	1125	$1,200	$1.07	4d	1	1.44mi
2629 N 49th St Milwaukee, WI	3.0	1.0	1200	$1,350	$1.12	44d	1	1.49mi
1116 N 13th St Milwaukee, WI	3.0	1.0	1400	$1,345	$0.96	15d	1	1.49mi

Listing history 36 events

1. 2026-06-18
   days on market $33,750 Active 104 DOM
2. 2026-06-17
   days on market $33,750 Active 103 DOM
3. 2026-06-16
   days on market $33,750 Active 102 DOM
4. 2026-06-15
   days on market $33,750 Active 101 DOM
5. 2026-06-13
   days on market $33,750 Active 99 DOM
6. 2026-06-13
   days on market $33,750 Active 98 DOM
7. 2026-06-09
   days on market $33,750 Active 95 DOM
8. 2026-06-08
   days on market $33,750 Active 94 DOM
9. 2026-06-07
   pricedays on market $33,750 Active 93 DOM
10. 2026-06-05
    days on market $45,000 Active 90 DOM
11. 2026-06-03
    days on market $45,000 Active 89 DOM
12. 2026-06-02
    days on market $45,000 Active 88 DOM
13. 2026-06-01
    days on market $45,000 Active 87 DOM
14. 2026-05-31
    days on market $45,000 Active 86 DOM
15. 2026-03-04
    listed $45,000 Active 499-char remark

    Show marketing remark (499 chars)

    This property is being offered as a tax foreclosure by the City of Milwaukee. Please see attached scope of work with the essential renovation costs of $26,680 and the total scope of work totaling $30,480. Room and lot sizes are estimates & all information should be verified. Property being sold in 'as-is' condition. Property is subject to a performance deposit. Earnest money to be paid to Knight Barry Title and can be mailed or dropped off. Please indicate Knight Barry will be holding EM.

16. 2026-02-17
    status Pending 238-char remark

    Show marketing remark (238 chars)

    This is a tax foreclosed property. BIDS DUE MONDAY 2/16/2026 at 10:00AM. For the first 30-days of the listing period, no offers below the listing price will be considered per Wisconsin Foreclosure Law. Owner Occupants will be prioritized.

17. 2026-02-17
    historical 238-char remark

    Show marketing remark (238 chars)

    This is a tax foreclosed property. BIDS DUE MONDAY 2/16/2026 at 10:00AM. For the first 30-days of the listing period, no offers below the listing price will be considered per Wisconsin Foreclosure Law. Owner Occupants will be prioritized.

18. 2026-01-12
    listed $53,900 Active 238-char remark

    Show marketing remark (238 chars)

    This is a tax foreclosed property. BIDS DUE MONDAY 2/16/2026 at 10:00AM. For the first 30-days of the listing period, no offers below the listing price will be considered per Wisconsin Foreclosure Law. Owner Occupants will be prioritized.

19. 2023-01-01
    historical
20. 2022-04-30
    price $62,500
21. 2022-04-15
    status Active
22. 2022-04-11
    historical Contingent
23. 2022-03-09
    price $67,500
24. 2022-02-03
    status Active
25. 2022-01-24
    historical Contingent
26. 2022-01-16
    price $69,000
27. 2021-11-13
    listed $77,000 Active
28. 2019-08-06
    historical
29. 2018-10-19
    listed $69,900 Active
30. 2014-03-27
    historical
31. 2014-03-27
    listed $4,000
32. 2012-12-12
    historical
33. 2012-12-12
    listed $6,500
34. 2005-06-21
    soldstatus $60,700
35. 2002-09-18
    soldstatus $60,000
36. 1998-07-15
    soldstatus $28,700

ⓘ 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: $1,199 · $100/mo
• Projected year-2 tax: $1,199 · $100/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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,381
• − Mortgage interest: −$1,891
• − Property taxes: −$1,199
• − Insurance: −$169
• − Repairs & maintenance: −$1,310
• − Management: −$1,310
• − Depreciation: −$982
• Taxable income: $9,520
• Est. tax owed @ 24.0%: −$2,285
• After-tax cash flow: $7,165/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): 27,201
• Household income: $52,690
• Rent vs Own: 60.8% rent · 39.2% own
• Severe rent burden: 1568.0

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 0.69)
• Race & ethnicity: Black 41% White 36% Hispanic / Latino 10% Asian 9% Two or more races 6%
• Hispanic origin (detail): Mexican 7% Puerto Rican 2%
• Common ancestry: Romanian 5% Italian 2% Lithuanian 2%
• Foreign-born: 9% · Canada, Philippines
• Languages at home: 84% English-only · Other Asian/Pacific 6% Spanish 6% French/Haitian/Cajun 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: ▼ -123.92%
• Current HPI: 333.7268
• Rent YoY: ▲ 10.78%
• 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

+56.8% since first listed

22 events — show timeline

• 2026-03-04 Listed $45,000 METROMLS
• 2026-02-17 Pending — METROMLS
• 2026-02-17 Listing Removed — METROMLS
• 2026-01-12 Listed $53,900 METROMLS
• 2023-01-01 Listing Removed — METROMLS
• 2022-04-30 Price Changed $62,500 METROMLS
• 2022-04-15 Relisted — METROMLS
• 2022-04-11 Contingent — METROMLS
• 2022-03-09 Price Changed $67,500 METROMLS
• 2022-02-03 Relisted — METROMLS
• 2022-01-24 Contingent — METROMLS
• 2022-01-16 Price Changed $69,000 METROMLS
• 2021-11-13 Listed $77,000 METROMLS
• 2019-08-06 Listing Removed — METROMLS
• 2018-10-19 Listed $69,900 METROMLS
• 2014-03-27 Listed $4,000 METROMLS
• 2014-03-27 Listing Removed — METROMLS
• 2012-12-12 Listed $6,500 METROMLS
• 2012-12-12 Listing Removed — METROMLS
• 2005-06-21 Sold (Public Records) $60,700 Public Records
• 2002-09-18 Sold (Public Records) $60,000 Public Records
• 1998-07-15 Sold (Public Records) $28,700 Public Records

Property tax history

-13.9%/yr

Latest (2024): $1,199 · -37.3% YoY. Source: county tax records.