2565 N 10th St · Milwaukee, WI 53206

$50,640

2 bd · 1.0 ba · 1,273 sqft · SingleFamily public records · 13 Days on market

Built 1868 0.30 ac lot Est $69k · 26% under

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Why this score? — see what drove the A 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Rent growth +4.6/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks

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. THIS PROPERTY IS STRICTLY FOR OWNER OCCUPANCY only. BIDS DUE July 13, 2026 AT 10:00AM

Key facts

• 0.3 acre lot
• Built 1868
• Listed 13 days

Property features AI

Exterior

• Utilities: Municipal water; Municipal sewer
• Home design: 1.5-story single-family home; Built (year per assessor/public record)
• Construction: Less than 1/2 acre lot (about 0.3 acre); Zoned RT4
• Exterior features: Aluminum and vinyl siding

Interior

• Kitchen: Kitchen on the main level, approximately 10 x 10
• Bedrooms: Master bedroom on the main level, approximately 10 x 10
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heat
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $51k.

Deal economics

• At list price, monthly cash flow is $613 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $51k).
• Cap rate 20.8% 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 23d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $1,219/mo this rent would consume 50% 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 ($350 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 ~2 years — 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 13 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1868 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $50,640

Questions for the listing agent

1. Built in 1868 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 2.41% ✓
• Cap rate: 20.82%
• Cash-on-cash: 51.88%
• DSCR: 3.31
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $68,742
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2748 N 11th St	0.23mi	3/1.0 (+1)	1,200 (-6%)	2mo	$54,900	$46	73
2513 N Teutonia Ave	0.25mi	3/1.0 (+1)	1,164 (-9%)	1mo	$5,500	$5	68
2425 N 6th St	0.33mi	2/1.5	1,199 (-6%)	13mo	$208,000	$173	62
1219 W Hadley St	0.31mi	2/1.0	1,194 (-6%)	16mo	$64,000	$54	62
1309 W Cottage Pl	0.53mi	3/2.0 (+1)	1,230 (-3%)	6mo	$45,000	$37	56
2908 N 6th St	0.53mi	3/1.0 (+1)	1,193 (-6%)	7mo	$360,000	$302	54
2564 N 17th St	0.47mi	3/1.0 (+1)	1,386 (+9%)	5mo	$52,000	$38	54
2382 N 15th St	0.41mi	3/1.0 (+1)	1,208 (-5%)	17mo	$89,400	$74	53
2333 N 10th St Unit A	0.30mi	3/2.0 (+1)	1,151 (-10%)	13mo	$77,500	$67	50
1925 W Center St	0.66mi	3/1.0 (+1)	1,144 (-10%)	9mo	$48,000	$42	40
118 W Hadley St	0.70mi	2/1.0	1,092 (-14%)	10mo	$210,000	$192	35
3144 N 12th St	0.73mi	3/1.0 (+1)	1,450 (+14%)	17mo	$40,000	$28	24

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: 69.1%
• Equity multiple: 6.15×
• Total profit: $73,083
• Equity at exit: $45,621

10-year hold

• IRR: 64.7%
• Equity multiple: 15.14×
• Total profit: $200,510
• Equity at exit: $98,382

Cash invested: $14,179 (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: 3.5×

Monthly cashflow live

• Estimated rent: $1,219 high
• Mortgage (P&I): −$266
• Tax est. 1.5%: −$63 /mo · $760/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $613

Break-even live

Break-even rent $443

Max offer price $50,640

Occupancy floor 45%

Sensitivity live

Price	-10% $648	-5% $631	+0% $613	+5% $596	+10% $578
Rent	-10% $517	-5% $565	+0% $613	+5% $661	+10% $709
Rate	-1.0pp $639	-0.5pp $626	base $613	+0.5pp $600	+1.0pp $587

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: $12,660
• Closing costs: $1,519
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2407 N 6th St Milwaukee, WI	2.0	1.0	897	$1,100	$1.23	45d	1	0.32mi
2577 N Vel R Phillips Ave Milwaukee, WI	3.0	1.0	1048	$1,400	$1.34	19d	1	0.42mi
3045 N 11th St #3047 Milwaukee, WI	3.0	1.0	1065	$1,175	$1.10	6d	1	0.64mi
3025 N 6th St Milwaukee, WI	2.0	1.0	1153	$1,125	$0.98	45d	1	0.66mi
2719 N 1st St Milwaukee, WI	2.0	1.0	1300	$1,095	$0.84	16d	1	0.67mi
1326 W Burleigh St Unit 1326 Lower Milwaukee, WI	2.0	1.0	900	$825	$0.92	4d	1	0.73mi
2955 N 17th St Unit B UPSTAIRS Milwaukee, WI	2.0	1.0	1000	$900	$0.90	19d	1	0.75mi
2724 N Palmer St Milwaukee, WI	3.0	1.0	900	$1,300	$1.44	45d	1	0.78mi
2808 N Palmer St Unit Lower Milwaukee, WI	2.0	1.0	1200	$875	$0.73	45d	1	0.82mi
2536 N Richards St Unit 1ST Milwaukee, WI	2.0	1.0	1200	$950	$0.79	45d	1	0.83mi
2507 N Buffum St Milwaukee, WI	3.0	1.0	1300	$1,375	$1.06	21d	1	0.87mi
2110 N Palmer St Milwaukee, WI	2.0	1.0	1100	$1,985	$1.80	6d	1	0.88mi
400 E Meinecke Ave #402 Milwaukee, WI	3.0	1.0	1700	$1,800	$1.06	18d	1	0.91mi
2716A N Buffum St Milwaukee, WI	2.0	1.0	1100	$1,200	$1.09	23d	1	0.92mi
2741 N 23rd St Milwaukee, WI	3.0	1.0	900	$1,050	$1.17	16d	1	0.92mi
2741 N 23rd St Unit 2 Milwaukee, WI	3.0	1.0	1000	$1,100	$1.10	19d	1	0.92mi
2630 N 24th St Milwaukee, WI	2.0	1.0	934	$1,450	$1.55	21d	1	0.93mi
329 E Garfield Ave Milwaukee, WI	2.0	1.5	1100	$1,350	$1.23	6d	1	0.94mi
3298 N 13th St Milwaukee, WI	3.0	1.0	885	$895	$1.01	45d	1	0.97mi
3042 N Palmer St #5 Milwaukee, WI	3.0	1.0	1718	$1,050	$0.61	25d	1	0.97mi
524 E Wright St Milwaukee, WI	3.0	1.0	900	$1,275	$1.42	16d	1	0.99mi
2119 W Brown St Milwaukee, WI	3.0	1.0	1754	$995	$0.57	5d	1	1.00mi
2945 N 23rd St Milwaukee, WI	3.0	1.0	1014	$1,195	$1.18	45d	1	1.02mi
3156 N 1st St Milwaukee, WI	2.0	1.0	900	$895	$0.99	45d	1	1.02mi
1830 N Hubbard St Apt 601 Milwaukee, WI	2.0	1.0	990	$1,900	$1.92	45d	1	1.08mi
2105 N Booth St Unit 2105-5 Milwaukee, WI	2.0	1.0	1000	$1,799	$1.80	19d	1	1.11mi
3029 N Holton St Milwaukee, WI	3.0	1.0	980	$1,200	$1.22	45d	1	1.11mi
3416 N 17th St Unit 1 Milwaukee, WI	3.0	1.0	1200	$1,100	$0.92	45d	1	1.15mi
2765 N 26th St Unit 1 Milwaukee, WI	3.0	1.0	1125	$1,200	$1.07	6d	1	1.17mi
2765 N 26th St Unit 2 Milwaukee, WI	2.0	1.0	1100	$1,100	$1.00	6d	1	1.17mi
1858 N Commerce St Milwaukee, WI	2.0	1.0–2.0	1124	$1,520	$1.35	16d	2	1.19mi
2442 N Bremen St Milwaukee, WI	2.0	1.0	1100	$1,495	$1.36	45d	1	1.21mi
1902 N Commerce St Milwaukee, WI	2.0	1.0	974	$1,895	$1.95	45d	1	1.21mi
1303 N 10th St Milwaukee, WI	3.0	1.0–2.0	797	$2,418	$3.03	4d	26	1.22mi
919 E Clarke St Unit 4 Milwaukee, WI	2.0	1.0	1000	$1,295	$1.29	45d	1	1.23mi
901 W Winnebago St Milwaukee, WI	1.0–3.0	1.0–2.0	1359	$1,937	$1.43	4d	10	1.24mi
2772 N Bremen St Milwaukee, WI	2.0	1.0	900	$1,295	$1.44	45d	1	1.24mi
2772 N Bremen St #2774 Milwaukee, WI	3.0	1.0	1500	$1,795	$1.20	45d	1	1.25mi
3255 N Buffum St Unit 3255 Upper Milwaukee, WI	2.0	1.0	1100	$1,350	$1.23	45d	1	1.25mi
2429 N Weil St Milwaukee, WI	3.0	1.0	1300	$1,500	$1.15	45d	1	1.25mi

Listing history 10 events

1. 2026-06-21
   days on market $50,640 Active 13 DOM
2. 2026-06-18
   days on market $50,640 Active 10 DOM
3. 2026-06-17
   remarks 249-char remark
4. 2026-06-17
   days on market $50,640 Active 9 DOM
5. 2026-06-16
   days on market $50,640 Active 8 DOM
6. 2026-06-15
   days on market $50,640 Active 7 DOM
7. 2026-06-13
   days on market $50,640 Active 5 DOM
8. 2026-06-13
   days on market $50,640 Active 4 DOM
9. 2026-06-08
   remarks 228-char remark
10. 2026-06-08
    listed $50,640 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 ≥97°F today · 12 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: $14,627
• − Mortgage interest: −$2,837
• − Property taxes: −$760
• − Insurance: −$253
• − Repairs & maintenance: −$1,170
• − Management: −$1,170
• − Depreciation: −$1,473
• Taxable income: $6,964
• Est. tax owed @ 24.0%: −$1,671
• After-tax cash flow: $5,685/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): 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

• 2026-06-08 Listed $50,640 METROMLS

Property tax history

+28.6%/yr

Latest (2024): $7,045 · +78.9% YoY. Source: county tax records.