2909 N 16th St #2911 · Milwaukee, WI 53206

$20,000

2 bd · 1.0 ba · 924 sqft · SingleFamily · 55 Days on market

Built 1900 Poor condition 3,484 sqft lot $22/sqft · 64% below area

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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 +15.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.6/5.0
• Livability +4.0/5.0
• Schools +1.2/10.0
• Condition / age +1.0/5.0

Listing remarks MLS

City owned single family needing repair. District 6. Only available to Owner Occupant offers for the 1st 30 days on market. (until 5/14/26) $14,920 in essential repairs. Performance deposit required - buyer must complete essential repairs within 180 days and have City provide proof of completion for performance deposit return. Bring flashlights & use caution when entering. Note: City of Milwaukee Tax Foreclosure Property. Listing info not verified. This property is being sold in AS-IS condition. Tax records show address as 2909-2911 so that is how it is listed. This is a single family home.

Key facts

• 3,484 sq ft lot
• Built 1900
• Listed 55 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $20k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $632 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($975 rent vs $20k).
• Recommended offer: $19k (3.0% below list) — sets the bar for market timing.
• Cap rate 44.2% 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; 40 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).
• This rent runs 40% of the median local income ($29k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $2k of equity ($138 loan paydown + $2k 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 $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($19k) 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $19,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 4.87% ✓
• Cap rate: 44.21%
• Cash-on-cash: 135.40%
• DSCR: 7.02
• GRM: 1.7

CMA / ARV

• ARV (median comp): $55,227
• List price: $20,000
• Delta: -63.79%
• 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
3047 N 22nd St	0.39mi	2/1.0	898 (-3%)	1mo	$26,000	$29	76
2833 N 12th St	0.34mi	2/1.0	960 (+4%)	4mo	$65,000	$68	75
2908 N 13th St	0.31mi	2/1.0	855 (-8%)	12mo	$45,000	$53	63
1319 W Groeling Ave	0.27mi	2/1.0	790 (-14%)	5mo	$65,000	$82	60
1701 W Keefe Ave	0.69mi	2/1.0	980 (+6%)	1mo	$130,000	$133	57
2922 N 16th St	0.03mi	3/1.0 (+1)	1,044 (+13%)	21mo	$36,500	$35	55
2658 N 25th St	0.64mi	2/1.0	940 (+2%)	15mo	$70,000	$74	55
3160 N 24th Pl	0.60mi	3/1.0 (+1)	913 (-1%)	19mo	$94,900	$104	49
3429 N 20th St	0.73mi	3/1.0 (+1)	916 (-1%)	13mo	$62,500	$68	49
3048 N 11th Ln	0.42mi	3/1.5 (+1)	981 (+6%)	22mo	$74,000	$75	45
3342 N 24th St	0.72mi	2/1.0	1,062 (+15%)	3mo	$115,000	$108	39
3332 N 13th St	0.64mi	3/1.0 (+1)	1,030 (+12%)	16mo	$48,000	$47	32

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: —
• Equity multiple: 11.05×
• Total profit: $56,304
• Equity at exit: $18,018

10-year hold

• IRR: —
• Equity multiple: 27.24×
• Total profit: $146,949
• Equity at exit: $38,856

Cash invested: $5,600 (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: 1.7×

Monthly cashflow live

• Estimated rent: $975 high
• Mortgage (P&I): −$105
• Tax est. 1.5%: −$25 /mo · $300/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $632

Break-even live

Break-even rent $175

Max offer price $20,000

Occupancy floor 30%

Sensitivity live

Price	-10% $646	-5% $639	+0% $632	+5% $625	+10% $618
Rent	-10% $555	-5% $593	+0% $632	+5% $670	+10% $709
Rate	-1.0pp $642	-0.5pp $637	base $632	+0.5pp $627	+1.0pp $621

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: $5,000
• Closing costs: $600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2955 N 17th St Unit B UPSTAIRS Milwaukee, WI	2.0	1.0	1000	$900	$0.90	18d	1	0.09mi
1345 W Locust St #10 Milwaukee, WI	1.0	1.0	800	$775	$0.97	25d	1	0.22mi
1326 W Burleigh St Unit 1326 Lower Milwaukee, WI	2.0	1.0	900	$825	$0.92	3d	1	0.32mi
3045 N 11th St #3047 Milwaukee, WI	3.0	1.0	1065	$1,175	$1.10	5d	1	0.41mi
2945 N 23rd St Milwaukee, WI	3.0	1.0	1014	$1,195	$1.18	45d	1	0.43mi
3058 N 11th St Unit 3058 Lower Milwaukee, WI	2.0	1.0	840	$945	$1.12	25d	1	0.43mi
2741 N 23rd St Milwaukee, WI	3.0	1.0	900	$1,050	$1.17	16d	1	0.48mi
2741 N 23rd St Unit 2 Milwaukee, WI	3.0	1.0	1000	$1,100	$1.10	18d	1	0.48mi
3298 N 13th St Milwaukee, WI	3.0	1.0	885	$895	$1.01	45d	1	0.56mi
3039 N 24th Pl Unit 3039 Milwaukee, WI	2.0	1.0	800	$995	$1.24	17d	1	0.57mi
2214-2220 W Hopkins St Unit 2214 6 Milwaukee, WI	1.0	1.0	530	$695	$1.31	45d	1	0.58mi
2214-2220 W Hopkins St Unit 2214 7 Milwaukee, WI	1.0	1.0	530	$750	$1.42	22d	1	0.58mi
2630 N 24th St Milwaukee, WI	2.0	1.0	934	$1,450	$1.55	21d	1	0.59mi
3444 N 17th St Milwaukee, WI	1.0	1.0	600	$695	$1.16	45d	1	0.63mi
2517 W Hadley St Milwaukee, WI	2.0	1.0	850	$1,050	$1.24	16d	1	0.65mi
1625 W Keefe Ave Unit 4 Milwaukee, WI	1.0	1.0	750	$725	$0.97	25d	1	0.67mi
2765 N 26th St Unit 1 Milwaukee, WI	3.0	1.0	1125	$1,200	$1.07	5d	1	0.70mi
2765 N 26th St Unit 2 Milwaukee, WI	2.0	1.0	1100	$1,100	$1.00	5d	1	0.70mi
3410 N 23rd St Milwaukee, WI	2.0	1.0	800	$800	$1.00	18d	1	0.77mi
3646 N 19th St Milwaukee, WI	2.0	1.0	935	$1,100	$1.18	5d	1	0.87mi
2530 N 28th St Unit 2530 Lower Milwaukee, WI	2.0	1.0	764	$995	$1.30	16d	1	0.92mi
1135 W Atkinson Ave Unit 8 Milwaukee, WI	1.0	1.0	600	$700	$1.17	45d	1	0.94mi
1135 W Atkinson Ave Unit 9 Milwaukee, WI	1.0	1.0	600	$700	$1.17	25d	1	0.94mi
2821 W Concordia Ave Milwaukee, WI	3.0	1.5	1098	$1,595	$1.45	3d	1	0.95mi
2407 N 6th St Milwaukee, WI	2.0	1.0	897	$1,100	$1.23	45d	1	0.98mi
2577 N Vel R Phillips Ave Milwaukee, WI	3.0	1.0	1048	$1,400	$1.34	18d	1	0.98mi
3347 N 29th St Unit 3347A Milwaukee, WI	2.0	1.0	950	$845	$0.89	16d	1	1.03mi
3037 N 1st St Milwaukee, WI	2.0	1.0	763	$990	$1.30	45d	1	1.11mi
3921 N 17th St Apt 3 Milwaukee, WI	1.0	1.0	650	$800	$1.23	45d	1	1.13mi
3927-3929 N 17th St Milwaukee, WI	2.0	1.0	900	$1,195	$1.33	45d	1	1.14mi
3911 N 20th St Unit 3913 Milwaukee, WI	2.0	1.0	950	$995	$1.05	25d	1	1.14mi
2866 N 34th St Unit 2866A Milwaukee, WI	2.0	1.0	534	$895	$1.68	45d	1	1.16mi
2866 N 34th St Unit 2866 Milwaukee, WI	3.0	1.0	534	$1,095	$2.05	5d	1	1.16mi
3156 N 1st St Milwaukee, WI	2.0	1.0	900	$895	$0.99	45d	1	1.16mi
3600 N Vel R. Phillips Ave Milwaukee, WI	2.0	1.0	900	$950	$1.06	5d	1	1.20mi
2646 N 34th St Unit 2646A Upper Milwaukee, WI	2.0	1.0	609	$895	$1.47	25d	1	1.21mi
3042 N Palmer St #2 Milwaukee, WI	1.0	1.0	573	$825	$1.44	25d	1	1.21mi
3228 N Achilles St Unit 3228A Milwaukee, WI	2.0	1.0	713	$895	$1.26	45d	1	1.22mi
2724 N Palmer St Milwaukee, WI	3.0	1.0	900	$1,300	$1.44	45d	1	1.23mi
3901 N 27th St Unit 3907 Milwaukee, WI	2.0	1.0	715	$895	$1.25	25d	1	1.30mi

Listing history 10 events

1. 2026-06-08
   statusdays on market $20,000 Pending 55 DOM
2. 2026-06-07
   days on market $20,000 Active 54 DOM
3. 2026-06-05
   days on market $20,000 Active 51 DOM
4. 2026-06-03
   days on market $20,000 Active 50 DOM
5. 2026-06-02
   days on market $20,000 Active 49 DOM
6. 2026-06-01
   days on market $20,000 Active 48 DOM
7. 2026-05-31
   days on market $20,000 Active 47 DOM
8. 2026-04-14
   listed $20,000 Active 603-char remark

   Show marketing remark (603 chars)

   City owned single family needing repair. District 6. Only available to Owner Occupant offers for the 1st 30 days on market. (until 5/14/26) $14,920 in essential repairs. Performance deposit required - buyer must complete essential repairs within 180 days and have City provide proof of completion for performance deposit return. Bring flashlights & use caution when entering. Note: City of Milwaukee Tax Foreclosure Property. Listing info not verified. This property is being sold in AS-IS condition. Tax records show address as 2909-2911 so that is how it is listed. This is a single family home.

9. 2026-04-06
   historical 235-char remark

   Show marketing remark (235 chars)

   This is a tax foreclosed property. 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. BIDS DUE March 30, 2026 AT 10:00am

10. 2026-02-23
    listed $59,798 Active 235-char remark

    Show marketing remark (235 chars)

    This is a tax foreclosed property. 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. BIDS DUE March 30, 2026 AT 10:00am

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $11,698
• − Mortgage interest: −$1,120
• − Property taxes: −$300
• − Insurance: −$100
• − Repairs & maintenance: −$936
• − Management: −$936
• − Depreciation: −$582
• Taxable income: $7,724
• Est. tax owed @ 24.0%: −$1,854
• After-tax cash flow: $5,729/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.

Condition & rehab AI · 13 photos

Poor 20/100 Extensive rehab

This property is in poor condition and requires extensive repairs and updates to be considered move-in ready. Significant work is needed on the exterior, interior, and systems to improve its value.

Repairs flagged

• Major siding — extensive peeling and damage
• Major windows — boarded up, likely broken
• Major kitchen cabinets — signs of wear and tear
• Major bathroom fixtures — old and worn
• Major flooring — significant wear and tear

Value-add opportunities

• Resale paint interior walls — Fresh paint can make a significant difference in the home's appearance
• Resale repair or replace windows — New windows can improve energy efficiency and increase the home's curb appeal
• Resale repair or replace kitchen cabinets — Fresh cabinets can make the kitchen look more modern and appealing
• Resale repair or replace bathroom fixtures — Upgraded fixtures can make the bathroom more functional and attractive
• Resale repair or replace flooring — Fresh flooring can make the home more inviting and increase its overall value

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · extensive peeling and damage	Major	$15,000–50,000
windows · boarded up, likely broken	Major	$15,000–50,000
kitchen cabinets · signs of wear and tear	Major	$15,000–50,000
bathroom fixtures · old and worn	Major	$15,000–50,000
flooring · significant wear and tear	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Resale paint interior walls — Fresh paint can make a significant difference in the home's appearance ↑
• Resale repair or replace windows — New windows can improve energy efficiency and increase the home's curb appeal ↑
• Resale repair or replace kitchen cabinets — Fresh cabinets can make the kitchen look more modern and appealing ↑
• Resale repair or replace bathroom fixtures — Upgraded fixtures can make the bathroom more functional and attractive ↑
• Resale repair or replace flooring — Fresh flooring can make the home more inviting and increase its overall value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-66.6% since first listed

3 events — show timeline

• 2026-04-14 Listed $20,000 METROMLS
• 2026-04-06 Listing Removed — METROMLS
• 2026-02-23 Listed $59,798 METROMLS