2922 N 6th St · Milwaukee, WI 53212

$28,000

2 bd · 1.0 ba · 787 sqft · SingleFamily public records · 64 Days on market

Built 1870 9,147 sqft lot $36/sqft · 54% below area

---

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
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

City Tax Foreclosure - 2BR/1BA with 787 square feet, and more. City Scope of Essential Work is $40,100. Total scope of work is $53,950. 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: Property open to owner-occupant offers only first 30 days of listing

Key facts

• 9,147 sq ft lot
• Built 1870
• Listed 64 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $28k.

Deal economics

• At list price, monthly cash flow is $628 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $28k).
• Recommended offer: $26k (6.0% below list) — sets the bar for market timing.
• Cap rate 33.2% 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 (+5.0%/yr); 129 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); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $194 of loan paydown is wiped out by about $840 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 + 5.0% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($26k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 7y 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.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; built in 1870 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $26,320 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1870 — 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 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: 3.96% ✓
• Cap rate: 33.19%
• Cash-on-cash: 96.05%
• DSCR: 5.27
• GRM: 2.1

CMA / ARV

• ARV (median comp): $61,370
• List price: $28,000
• Delta: -54.37%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2959 N 6th St	0.06mi	3/1.5 (+1)	840 (+7%)	2mo	$85,500	$102	78
1319 W Groeling Ave	0.51mi	2/1.0	790 (+0%)	5mo	$65,000	$82	72
112 W Hadley St	0.36mi	2/1.0	800 (+2%)	10mo	$210,000	$263	72
2836 N Richards St	0.55mi	2/1.0	871 (+11%)	2mo	$116,000	$133	55
2908 N 13th St	0.47mi	2/1.0	855 (+9%)	12mo	$45,000	$53	54
408 W Wright St	0.54mi	2/1.0	809 (+3%)	21mo	$23,500	$29	52
3020 N Teutonia Ave	0.66mi	3/1.0 (+1)	783 (-0%)	17mo	$65,000	$83	49
3206 N 7th St	0.35mi	2/1.0	670 (-15%)	20mo	$65,000	$97	42

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 · 5.0% rent growth · sell at horizon

5-year hold

• IRR: 99.4%
• Equity multiple: 5.82×
• Total profit: $37,756
• Equity at exit: $4,175

10-year hold

• IRR: —
• Equity multiple: 13.02×
• Total profit: $94,271
• Equity at exit: $2,421

Cash invested: $7,840 (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 53212

• Rents YoY: 5.0%
• Active inventory: 129
• Price-to-rent: 2.1×

Monthly cashflow live

• Estimated rent: $1,108 high
• Mortgage (P&I): −$147
• Tax from tax record: −$89 /mo · $1,074/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $628

Break-even live

Break-even rent $314

Max offer price $28,000

Occupancy floor 38%

Sensitivity live

Price	-10% $643	-5% $635	+0% $628	+5% $620	+10% $612
Rent	-10% $540	-5% $584	+0% $628	+5% $671	+10% $715
Rate	-1.0pp $642	-0.5pp $635	base $628	+0.5pp $620	+1.0pp $613

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: $7,000
• Closing costs: $840
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3037 N 1st St Milwaukee, WI	2.0	1.0	763	$990	$1.30	44d	1	0.36mi
3058 N 11th St Unit 3058 Lower Milwaukee, WI	2.0	1.0	840	$945	$1.12	24d	1	0.40mi
3045 N 11th St #3047 Milwaukee, WI	3.0	1.0	1065	$1,175	$1.10	5d	1	0.41mi
2577 N Vel R Phillips Ave Milwaukee, WI	3.0	1.0	1048	$1,400	$1.34	17d	1	0.45mi
3156 N 1st St Milwaukee, WI	2.0	1.0	900	$895	$0.99	44d	1	0.47mi
3042 N Palmer St #2 Milwaukee, WI	1.0	1.0	573	$825	$1.44	24d	1	0.47mi
2724 N Palmer St Milwaukee, WI	3.0	1.0	900	$1,300	$1.44	44d	1	0.52mi
3228 N Achilles St Unit 3228A Milwaukee, WI	2.0	1.0	713	$895	$1.26	44d	1	0.54mi
1345 W Locust St #10 Milwaukee, WI	1.0	1.0	800	$775	$0.97	24d	1	0.55mi
1326 W Burleigh St Unit 1326 Lower Milwaukee, WI	2.0	1.0	900	$825	$0.92	2d	1	0.56mi
3029 N Holton St Milwaukee, WI	3.0	1.0	980	$1,200	$1.22	44d	1	0.64mi
2716A N Buffum St Milwaukee, WI	2.0	1.0	1100	$1,200	$1.09	22d	1	0.65mi
3298 N 13th St Milwaukee, WI	3.0	1.0	885	$895	$1.01	44d	1	0.66mi
2407 N 6th St Milwaukee, WI	2.0	1.0	897	$1,100	$1.23	44d	1	0.67mi
3255 N Buffum St Unit 3255 Upper Milwaukee, WI	2.0	1.0	1100	$1,350	$1.23	44d	1	0.71mi
3352 N Richards St Unit Second floor Milwaukee, WI	2.0	1.0	1000	$1,150	$1.15	44d	1	0.75mi
3373 N Richards St Milwaukee, WI	2.0	1.0	950	$1,150	$1.21	24d	1	0.76mi
3600 N Vel R. Phillips Ave Milwaukee, WI	2.0	1.0	900	$950	$1.06	5d	1	0.79mi
2336 N 1st St Unit 8 Milwaukee, WI	1.0	1.0	650	$945	$1.45	5d	1	0.83mi
2955 N 17th St Unit B UPSTAIRS Milwaukee, WI	2.0	1.0	1000	$900	$0.90	17d	1	0.84mi
524 E Wright St Milwaukee, WI	3.0	1.0	900	$1,275	$1.42	15d	1	0.88mi
3703 N 1st St Unit Upper-3705 Milwaukee, WI	3.0	1.0	1034	$1,200	$1.16	44d	1	0.90mi
2934 N Bremen St Milwaukee, WI	2.0	1.0	798	$1,398	$1.75	24d	1	0.91mi
3368 N Booth St #3374 Milwaukee, WI	2.0	1.0	900	$950	$1.06	24d	1	0.91mi
3368 N Booth St #3374 Milwaukee, WI	2.0	1.0	900	$950	$1.06	44d	1	0.91mi
2772 N Bremen St Milwaukee, WI	2.0	1.0	900	$1,295	$1.44	44d	1	0.93mi
3444 N 17th St Milwaukee, WI	1.0	1.0	600	$695	$1.16	44d	1	0.95mi
1135 W Atkinson Ave Unit 9 Milwaukee, WI	1.0	1.0	600	$700	$1.17	24d	1	0.96mi
1135 W Atkinson Ave Unit 8 Milwaukee, WI	1.0	1.0	600	$700	$1.17	44d	1	0.96mi
1625 W Keefe Ave Unit 4 Milwaukee, WI	1.0	1.0	750	$725	$0.97	24d	1	0.97mi
919 E Clarke St Unit 4 Milwaukee, WI	2.0	1.0	1000	$1,295	$1.29	44d	1	1.03mi
118 E Lloyd St Unit Lower Milwaukee, WI	2.0	1.0	810	$1,350	$1.67	17d	1	1.04mi
2636 N Weil St Milwaukee, WI	2.0	1.0	900	$1,100	$1.22	2d	1	1.04mi
2110 N Palmer St Milwaukee, WI	2.0	1.0	1100	$1,985	$1.80	4d	1	1.05mi
329 E Garfield Ave Milwaukee, WI	2.0	1.5	1100	$1,350	$1.23	5d	1	1.05mi
2442 N Bremen St Milwaukee, WI	2.0	1.0	1100	$1,495	$1.36	44d	1	1.10mi
1106 E Clarke St Milwaukee, WI	2.0	1.0	950	$795	$0.84	44d	1	1.12mi
3908 N 6th St Milwaukee, WI	2.0	1.0	1100	$1,150	$1.05	24d	1	1.14mi
2552 N Humboldt Blvd Milwaukee, WI	2.0	1.0	800	$1,250	$1.56	44d	1	1.14mi
2552 N Humboldt Blvd Milwaukee, WI	3.0	1.0	1000	$1,595	$1.59	24d	1	1.14mi

Listing history 26 events

1. 2026-06-18
   days on market $28,000 Active 64 DOM
2. 2026-06-17
   days on market $28,000 Active 63 DOM
3. 2026-06-16
   days on market $28,000 Active 62 DOM
4. 2026-06-15
   days on market $28,000 Active 61 DOM
5. 2026-06-13
   days on market $28,000 Active 59 DOM
6. 2026-06-13
   days on market $28,000 Active 58 DOM
7. 2026-06-09
   days on market $28,000 Active 55 DOM
8. 2026-06-08
   days on market $28,000 Active 54 DOM
9. 2026-06-07
   days on market $28,000 Active 53 DOM
10. 2026-06-05
    days on market $28,000 Active 50 DOM
11. 2026-06-03
    days on market $28,000 Active 49 DOM
12. 2026-06-02
    days on market $28,000 Active 48 DOM
13. 2026-06-01
    days on market $28,000 Active 47 DOM
14. 2026-05-31
    days on market $28,000 Active 46 DOM
15. 2026-04-15
    listed $28,000 Active 383-char remark

    Show marketing remark (383 chars)

    City Tax Foreclosure - 2BR/1BA with 787 square feet, and more. City Scope of Essential Work is $40,100. Total scope of work is $53,950. 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: Property open to owner-occupant offers only first 30 days of listing

16. 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

17. 2026-02-23
    listed $51,100 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

18. 2022-02-07
    soldstatus $29,000 Sold
19. 2022-01-31
    status Pending
20. 2022-01-15
    historical Contingent
21. 2022-01-02
    listed $34,000 Active
22. 2019-12-30
    soldstatus $19,500 Sold
23. 2019-12-13
    status Pending
24. 2019-12-04
    status Active
25. 2019-11-20
    historical Contingent
26. 2019-11-19
    listed $25,900 Active

ⓘ 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: $1,074 · $89/mo
• Projected year-2 tax: $1,074 · $89/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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,299
• − Mortgage interest: −$1,568
• − Property taxes: −$1,074
• − Insurance: −$140
• − Repairs & maintenance: −$1,064
• − Management: −$1,064
• − Depreciation: −$815
• Taxable income: $7,575
• Est. tax owed @ 24.0%: −$1,818
• After-tax cash flow: $5,713/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): 28,938
• Household income: $47,298
• Rent vs Own: 65.6% rent · 34.4% own
• Severe rent burden: 2397.0

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 0.64)
• Race & ethnicity: Black 48% White 35% Hispanic / Latino 12% Two or more races 9%
• Hispanic origin (detail): Mexican 4% Puerto Rican 6%
• Common ancestry: Romanian 4% Portuguese 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 92% English-only · Spanish 6%

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: ▼ -216.73%
• Current HPI: 385.8225
• Rent YoY: ▲ 5.00%
• 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

+8.1% since first listed

12 events — show timeline

• 2026-04-15 Listed $28,000 METROMLS
• 2026-04-06 Listing Removed — METROMLS
• 2026-02-23 Listed $51,100 METROMLS
• 2022-02-07 Sold (MLS) $29,000 METROMLS
• 2022-01-31 Pending — METROMLS
• 2022-01-15 Contingent — METROMLS
• 2022-01-02 Listed $34,000 METROMLS
• 2019-12-30 Sold (MLS) $19,500 METROMLS
• 2019-12-13 Pending — METROMLS
• 2019-12-04 Relisted — METROMLS
• 2019-11-20 Contingent — METROMLS
• 2019-11-19 Listed $25,900 METROMLS

Property tax history

+5.7%/yr

Latest (2024): $1,074 · -47.3% YoY. Source: county tax records.