3626 N 9th St #3628 · Milwaukee, WI 53206

$50,400

4 bd · 2.0 ba · 1,813 sqft · MultiFamily · 10 Days on market

Built 1914 Poor condition 3,484 sqft lot

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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: 1 unit. estimate disagrees with records

Listing remarks MLS

SINGLE PARTY LISTINGSHORT SALE

Key facts

• 3,484 sq ft lot
• Built 1914
• Listed 10 days

Property features AI

Finance

• Other: Lot size approximately 0.08 acre (less than 1/2 acre)

Exterior

• Utilities: Municipal water; Municipal sewer
• Home design: 2-story duplex; Property type: Multi-family; Zoning: RT4
• Construction: Information source lists year built from assessor/public record
• Exterior features: Aluminum/steel and vinyl exterior

Interior

• Kitchen: Unit 2 kitchen on upper level (approx. 10 x 10)
• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 2 bedrooms (master bedroom on upper level, approx. 10 x 10)
• Bathrooms: Unit 1: 1 full bathroom; Unit 2: 1 full bathroom
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $50k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Cap rate 43.9% 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); 150 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); lower-income renter base — watch delinquency; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $2,439/mo this rent would consume 100% 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 $5k of equity ($348 loan paydown + $5k 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 $14k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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 $15k; list at $50k implies a 236% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $50,400

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 4.84% ✓
• Cap rate: 43.88%
• Cash-on-cash: 134.23%
• DSCR: 6.97
• GRM: 1.7

CMA / ARV

• ARV (on-the-fly): $139,601
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3905 N 13th St #3907	0.37mi	4/2.0	1,884 (+4%)	2mo	$144,500	$77	74
1304 W Ring St Unit 1304A	0.51mi	5/2.0 (+1)	1,851 (+2%)	1mo	$70,000	$38	67
3065 N 10th St	0.67mi	4/2.0	1,753 (-3%)	2mo	$60,000	$34	62
3711 N 1st St #3713	0.55mi	4/2.0	1,680 (-7%)	3mo	$160,000	$95	60
3047 N 12th St	0.73mi	4/2.0	1,774 (-2%)	6mo	$28,000	$16	57
3452 N 1st St Unit 3452A	0.62mi	5/2.0 (+1)	1,908 (+5%)	1mo	$130,000	$68	56
1223 W Olive St #1225	0.68mi	4/2.5	1,722 (-5%)	3mo	$183,000	$106	56
3134 N 9th St	0.59mi	5/2.0 (+1)	1,701 (-6%)	3mo	$159,000	$93	55
3283 N 14th St #3285	0.51mi	4/2.0	2,044 (+13%)	2mo	$80,000	$39	53
4071 N 12th St Unit 4071A	0.52mi	3/2.0 (-1)	2,045 (+13%)	1mo	$110,000	$54	49
3043 N Dr William Finlayson St #3045	0.74mi	4/2.0	1,633 (-10%)	3mo	$125,000	$77	46
1818 W Nash St	0.61mi	3/2.0 (-1)	1,581 (-13%)	2mo	$135,000	$85	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: 10.99×
• Total profit: $140,911
• Equity at exit: $45,404

10-year hold

• IRR: —
• Equity multiple: 27.07×
• Total profit: $367,905
• Equity at exit: $97,916

Cash invested: $14,112 (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: 150
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $2,439 high
• Mortgage (P&I): −$264
• Tax est. 1.5%: −$63 /mo · $756/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$512
• Net cashflow: $1,579

Break-even live

Break-even rent $441

Max offer price $50,400

Occupancy floor 30%

Sensitivity live

Price	-10% $1,613	-5% $1,596	+0% $1,579	+5% $1,561	+10% $1,544
Rent	-10% $1,386	-5% $1,482	+0% $1,579	+5% $1,675	+10% $1,771
Rate	-1.0pp $1,604	-0.5pp $1,591	base $1,579	+0.5pp $1,565	+1.0pp $1,552

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1.5	$2,439
Total (3 units)			$2,439

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: $12,600
• Closing costs: $1,512
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
312 E Townsend St Unit 312 Milwaukee, WI	3.0	1.0	1400	$1,250	$0.89	24d	1	0.80mi
2106A W Keefe Ave Unit 2106 Lower Milwaukee, WI	3.0	1.0	1300	$1,100	$0.85	17d	1	0.85mi
3042 N Palmer St #5 Milwaukee, WI	3.0	1.0	1718	$1,050	$0.61	24d	1	0.95mi
2116 W Atkinson Ave Unit A Milwaukee, WI	4.0	1.0	1707	$2,000	$1.17	2d	1	1.00mi
2634 N Doctor M.L.K. Jr Dr Milwaukee, WI	5.0	2.5	2512	$3,700	$1.47	44d	1	1.28mi
2704 W Concordia Ave Unit Na Milwaukee, WI	5.0	2.0	1856	$2,500	$1.35	24d	1	1.33mi

Listing history 8 events

1. 2026-06-18
   days on market $50,400 Active 10 DOM
2. 2026-06-17
   days on market $50,400 Active 9 DOM
3. 2026-06-16
   days on market $50,400 Active 8 DOM
4. 2026-06-15
   days on market $50,400 Active 7 DOM
5. 2026-06-13
   days on market $50,400 Active 5 DOM
6. 2026-06-13
   days on market $50,400 Active 4 DOM
7. 2026-06-08
   remarks 265-char remark
8. 2026-06-08
   listed $50,400 Active 1 DOM

ⓘ 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: $29,268
• − Mortgage interest: −$2,823
• − Property taxes: −$756
• − Insurance: −$252
• − Repairs & maintenance: −$2,341
• − Management: −$2,341
• − Depreciation: −$1,466
• Taxable income: $19,288
• Est. tax owed @ 24.0%: −$4,629
• After-tax cash flow: $14,313/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 · 2 photos

Poor 20/100 Extensive rehab

This foreclosed multi-family property requires extensive repairs and updates to become move-in ready. Significant structural and exterior work is needed to improve its condition and value.

Repairs flagged

• Major Exterior siding — Severe peeling and damage
• Major Structural repairs — Exposed framing and missing windows
• Major Roof — Likely in poor condition based on exterior
• Major Flooring — Likely in poor condition based on overall condition
• Major Systems — Likely in poor condition based on overall condition
• Major Landscaping — Likely in poor condition based on exterior

Value-add opportunities

• Both Exterior siding repair and replacement — Improves curb appeal and structural integrity
• Both Interior finishing and repairs — Enhances livability and appeal
• Both Roof repair or replacement — Ensures structural integrity and protects from weather
• Both Flooring replacement — Improves living space and reduces maintenance costs
• Both System upgrades — Enhances comfort and energy efficiency
• Both Landscaping and curb appeal improvements — Enhances property value and attracts potential buyers/tenants

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Severe peeling and damage	Major	$15,000–50,000
Structural repairs · Exposed framing and missing windows	Major	$15,000–50,000
Roof · Likely in poor condition based on exterior	Major	$15,000–50,000
Flooring · Likely in poor condition based on overall condition	Major	$15,000–50,000
Systems · Likely in poor condition based on overall condition	Major	$15,000–50,000
Landscaping · Likely in poor condition based on exterior	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both Exterior siding repair and replacement — Improves curb appeal and structural integrity ↑
• Both Interior finishing and repairs — Enhances livability and appeal ↑
• Both Roof repair or replacement — Ensures structural integrity and protects from weather ↑
• Both Flooring replacement — Improves living space and reduces maintenance costs ↑
• Both System upgrades — Enhances comfort and energy efficiency ↑
• Both Landscaping and curb appeal improvements — Enhances property value and attracts potential buyers/tenants ↑

ⓘ 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

+303.2% since first listed

6 events — show timeline

• 2026-06-08 Listed $50,400 METROMLS
• 2016-10-26 Sold (MLS) $15,000 METROMLS
• 2016-09-01 Pending — METROMLS
• 2016-08-23 Relisted — METROMLS
• 2016-04-09 Contingent — METROMLS
• 2016-03-22 Listed $12,500 METROMLS