3327 N 17th St · Milwaukee, WI 53206

$12,500

4 bd · 2.0 ba · 1,953 sqft · MultiFamily · 106 Days on market

Built 1924 Poor condition 0.90 ac lot $6/sqft · 83% 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

City Tax Foreclosure - 2/2BR Duplex w/ over 1,953 square feet, and more. City Scope of Essential Work is $88,300. Total scope of work is $119,600. Rooms and lot sizes are estimates & all information should be verified. Property being sold in 'as-is' condition. Bring flashlights & use caution when entering. Note: Owner Occupant offers only at this time.

Key facts

• 0.9 acre lot
• Built 1924
• Listed 106 days

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $12k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $698/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $12k).
• Recommended offer: $11k (9.0% below list) — sets the bar for market timing.
• Cap rate 140.3% 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 (+8.3%/yr); 160 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $1,876/mo this rent would consume 77% 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 $1k of equity ($86 loan paydown + $1k 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 $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($11k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $11,375 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 15.01% ✓
• Cap rate: 140.28%
• Cash-on-cash: 478.51%
• DSCR: 22.29
• GRM: 0.6

CMA / ARV

• ARV (median comp): $75,459
• List price: $12,500
• Delta: -83.43%
• 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
3283 N 14th St #3285	0.20mi	4/2.0	2,044 (+5%)	2mo	$80,000	$39	81
2022 W Keefe Ave Unit 2022A	0.34mi	4/2.0	1,914 (-2%)	1mo	$55,000	$29	80
2020 W Hopkins St	0.35mi	4/2.0	2,050 (+5%)	0mo	$105,000	$51	75
1304 W Ring St Unit 1304A	0.27mi	5/2.0 (+1)	1,851 (-5%)	1mo	$70,000	$38	73
3607 N 20th St	0.37mi	4/2.0	2,046 (+5%)	2mo	$115,000	$56	73
3905 N 13th St #3907	0.62mi	4/2.0	1,884 (-4%)	2mo	$144,500	$77	64
3218 N 26th St	0.68mi	4/2.0	1,986 (+2%)	3mo	$165,000	$83	63
3748 N 17th St	0.43mi	4/2.0	2,161 (+11%)	2mo	$80,000	$37	61
3065 N 10th St	0.55mi	4/2.0	1,753 (-10%)	2mo	$60,000	$34	56
3202 N 24th St #3204	0.51mi	4/2.0	2,169 (+11%)	2mo	$165,000	$76	56
2450 W Keefe Ave #2452	0.61mi	3/2.0 (-1)	1,831 (-6%)	1mo	$35,000	$19	55
3134 N 9th St	0.59mi	5/2.0 (+1)	1,701 (-13%)	3mo	$159,000	$93	44

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: 31.18×
• Total profit: $105,640
• Equity at exit: $11,261

10-year hold

• IRR: —
• Equity multiple: 76.95×
• Total profit: $265,808
• Equity at exit: $24,285

Cash invested: $3,500 (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: 1.1×

Monthly cashflow live

• Estimated rent: $1,876 high
• Mortgage (P&I): −$66
• Tax est. 1.5%: −$16 /mo · $188/yr
• Insurance: −$5
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $1,396

Break-even live

Break-even rent $109

Max offer price $12,500

Occupancy floor 21%

Sensitivity live

Price	-10% $1,404	-5% $1,400	+0% $1,396	+5% $1,391	+10% $1,387
Rent	-10% $1,247	-5% $1,322	+0% $1,396	+5% $1,470	+10% $1,544
Rate	-1.0pp $1,402	-0.5pp $1,399	base $1,396	+0.5pp $1,392	+1.0pp $1,389

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,876
Total (2 units)			$1,876

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: $3,125
• Closing costs: $375
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2106A W Keefe Ave Unit 2106 Lower Milwaukee, WI	3.0	1.0	1300	$1,100	$0.85	19d	1	0.34mi
2704 W Concordia Ave Unit Na Milwaukee, WI	5.0	2.0	1856	$2,500	$1.35	25d	1	0.74mi
2116 W Atkinson Ave Unit A Milwaukee, WI	4.0	1.0	1707	$2,000	$1.17	3d	1	0.86mi
2870 N 29th St #2872 Milwaukee, WI	3.0	1.0	1300	$1,250	$0.96	45d	1	1.03mi
2308 W Clarke St Milwaukee, WI	4.0	2.0	1545	$1,750	$1.13	25d	1	1.05mi
2809 W Clarke St Unit 12811 Milwaukee, WI	3.0	1.0	1400	$1,200	$0.86	19d	1	1.27mi
3042 N Palmer St #5 Milwaukee, WI	3.0	1.0	1718	$1,050	$0.61	25d	1	1.28mi
312 E Townsend St Unit 312 Milwaukee, WI	3.0	1.0	1400	$1,250	$0.89	25d	1	1.31mi
2634 N Doctor M.L.K. Jr Dr Milwaukee, WI	5.0	2.5	2512	$3,700	$1.47	45d	1	1.35mi
2432 N 28th St Milwaukee, WI	5.0	1.5	1876	$1,600	$0.85	45d	1	1.40mi

Listing history 17 events

1. 2026-06-21
   days on market $12,500 Active 106 DOM
2. 2026-06-18
   days on market $12,500 Active 103 DOM
3. 2026-06-17
   days on market $12,500 Active 102 DOM
4. 2026-06-16
   days on market $12,500 Active 101 DOM
5. 2026-06-15
   days on market $12,500 Active 100 DOM
6. 2026-06-13
   days on market $12,500 Active 98 DOM
7. 2026-06-13
   days on market $12,500 Active 97 DOM
8. 2026-06-10
   price $12,500 Active 94 DOM
9. 2026-06-09
   days on market $39,000 Active 94 DOM
10. 2026-06-08
    days on market $39,000 Active 93 DOM
11. 2026-06-07
    days on market $39,000 Active 92 DOM
12. 2026-06-05
    days on market $39,000 Active 89 DOM
13. 2026-06-03
    days on market $39,000 Active 88 DOM
14. 2026-06-02
    days on market $39,000 Active 87 DOM
15. 2026-06-01
    days on market $39,000 Active 86 DOM
16. 2026-05-31
    days on market $39,000 Active 85 DOM
17. 2026-03-06
    listed $39,000 Active 366-char remark

    Show marketing remark (366 chars)

    City Tax Foreclosure - 2/2BR Duplex w/ over 1,953 square feet, and more. City Scope of Essential Work is $88,300. Total scope of work is $119,600. Rooms and lot sizes are estimates & all information should be verified. Property being sold in 'as-is' condition. Bring flashlights & use caution when entering. Note: Owner Occupant offers only at this time.

ⓘ 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: $22,512
• − Mortgage interest: −$700
• − Property taxes: −$188
• − Insurance: −$62
• − Repairs & maintenance: −$1,801
• − Management: −$1,801
• − Depreciation: −$364
• Taxable income: $17,596
• Est. tax owed @ 24.0%: −$4,223
• After-tax cash flow: $12,525/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 · 5 photos

Poor 20/100 Extensive rehab

This property requires extensive repairs and maintenance, including major work on the exterior, HVAC, and steps. Improvements in these areas can significantly enhance its value.

Repairs flagged

• Major exterior siding — Severe weathering and damage
• Major steps and landing — Worn-out and possibly structurally compromised
• Major HVAC/mechanicals — Likely outdated and in poor condition

Value-add opportunities

• Both Landscaping and curb appeal — Improving the exterior can enhance both resale and rental value
• Both HVAC and mechanicals — Upgrading these systems can improve comfort and energy efficiency
• Both Exterior siding and steps — Addressing these issues can significantly improve the home's appearance and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Severe weathering and damage	Major	$15,000–50,000
steps and landing · Worn-out and possibly structurally compromised	Major	$15,000–50,000
HVAC/mechanicals · Likely outdated and in poor condition	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both Landscaping and curb appeal — Improving the exterior can enhance both resale and rental value ↑
• Both HVAC and mechanicals — Upgrading these systems can improve comfort and energy efficiency ↑
• Both Exterior siding and steps — Addressing these issues can significantly improve the home's appearance and 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

1 event — show timeline

• 2026-03-06 Listed $39,000 METROMLS