3827 N 24th Pl Unit A · Milwaukee, WI 53206

$127,500

3 bd · 2.0 ba · 1,929 sqft · Condo · 75 Days on market

Built 1925 Fair condition $66/sqft · 37% below area Est $201k · 37% under

---

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 +24.1/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +7.8/10.0
• 1% rule +6.2/10.0
• Rent growth +4.6/5.0
• Livability +4.0/5.0
• Condition / age +2.2/5.0
• Schools +1.2/10.0

Listing remarks MLS

Classic Milwaukee Bungalow that is perfect for an owner occupant or addition to your rental portfolio. Well maintained 2bdrm 1 bathroom lower with an occupied spacious 1Bdrm 1Bath upper. Timeless preserved wood trim, hardwood floors and updated windows. Dry basement and 2 car garage complete the package. Don't miss out on this opportunity.

Key facts

• Preserved wood trim
• Updated windows
• 2 car garage

Tags

• PRESERVED WOOD TRIM
• HARDWOOD FLOORS
• UPDATED WINDOWS
• DRY BASEMENT
• 2 CAR GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $128k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $252 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $128k).
• Recommended offer: $120k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.7% 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; 9 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 $1,434/mo this rent would consume 59% 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 $14k of equity ($882 loan paydown + $13k 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 $36k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($120k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $8k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $100k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $119,850 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% 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 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.12% ✓
• Cap rate: 8.66%
• Cash-on-cash: 8.46%
• DSCR: 1.38
• GRM: 7.4

CMA / ARV

• ARV (median comp): $200,815
• List price: $127,500
• Delta: -36.51%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3920 N 20th St Unit A	0.37mi	4/2.0 (+1)	1,777 (-8%)	9mo	$174,900	$98	57

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: 32.6%
• Equity multiple: 3.61×
• Total profit: $93,078
• Equity at exit: $114,862

10-year hold

• IRR: 29.9%
• Equity multiple: 8.85×
• Total profit: $280,305
• Equity at exit: $247,704

Cash invested: $35,700 (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: 7.4×

Monthly cashflow live

• Estimated rent: $1,434 high
• Mortgage (P&I): −$669
• Tax est. 1.5%: −$159 /mo · $1,912/yr
• Insurance: −$53
• HOA: −$0
• Vacancy / Maint / Mgmt: −$301
• Net cashflow: $252

Break-even live

Break-even rent $1,115

Max offer price $127,500

Occupancy floor 77%

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: $31,875
• Closing costs: $3,825
• Reserves months: —
• Total cash needed: —

Rent comps 9 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	17d	1	0.41mi
2116 W Atkinson Ave Unit A Milwaukee, WI	4.0	1.0	1707	$2,000	$1.17	1d	1	0.42mi
2931 W Chambers St Milwaukee, WI	2.0	1.0	1400	$1,050	$0.75	23d	1	1.01mi
3925 N 42nd St Milwaukee, WI	3.0	1.0	1300	$1,675	$1.29	43d	1	1.10mi
2870 N 29th St #2872 Milwaukee, WI	3.0	1.0	1300	$1,250	$0.96	43d	1	1.12mi
3122 N 42nd St Milwaukee, WI	3.0	1.0	1323	$1,495	$1.13	4d	1	1.33mi
3123 N 42nd St Milwaukee, WI	4.0	1.0	1500	$1,700	$1.13	23d	1	1.35mi
2308 W Clarke St Milwaukee, WI	4.0	2.0	1545	$1,750	$1.13	23d	1	1.44mi
2809 W Clarke St Unit 12811 Milwaukee, WI	3.0	1.0	1400	$1,200	$0.86	17d	1	1.48mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $127,500 Active 75 DOM
2. 2026-06-17
   days on market $127,500 Active 74 DOM
3. 2026-06-16
   days on market $127,500 Active 73 DOM
4. 2026-06-15
   days on market $127,500 Active 72 DOM
5. 2026-06-13
   days on market $127,500 Active 70 DOM
6. 2026-06-13
   days on market $127,500 Active 69 DOM
7. 2026-06-09
   days on market $127,500 Active 66 DOM
8. 2026-06-08
   days on market $127,500 Active 65 DOM
9. 2026-06-07
   days on market $127,500 Active 64 DOM
10. 2026-06-05
    days on market $127,500 Active 61 DOM
11. 2026-06-03
    days on market $127,500 Active 60 DOM
12. 2026-06-02
    days on market $127,500 Active 59 DOM
13. 2026-06-01
    days on market $127,500 Active 58 DOM
14. 2026-05-31
    days on market $127,500 Active 57 DOM
15. 2026-05-08
    price $127,500 342-char remark

    Show marketing remark (342 chars)

    Classic Milwaukee Bungalow that is perfect for an owner occupant or addition to your rental portfolio. Well maintained 2bdrm 1 bathroom lower with an occupied spacious 1Bdrm 1Bath upper. Timeless preserved wood trim, hardwood floors and updated windows. Dry basement and 2 car garage complete the package. Don't miss out on this opportunity.

16. 2026-04-23
    price $130,000 342-char remark

    Show marketing remark (342 chars)

    Classic Milwaukee Bungalow that is perfect for an owner occupant or addition to your rental portfolio. Well maintained 2bdrm 1 bathroom lower with an occupied spacious 1Bdrm 1Bath upper. Timeless preserved wood trim, hardwood floors and updated windows. Dry basement and 2 car garage complete the package. Don't miss out on this opportunity.

17. 2026-04-03
    listed $135,000 Active 342-char remark

    Show marketing remark (342 chars)

    Classic Milwaukee Bungalow that is perfect for an owner occupant or addition to your rental portfolio. Well maintained 2bdrm 1 bathroom lower with an occupied spacious 1Bdrm 1Bath upper. Timeless preserved wood trim, hardwood floors and updated windows. Dry basement and 2 car garage complete the package. Don't miss out on this opportunity.

18. 2022-06-03
    soldstatus $99,900 Sold 480-char remark

    Show marketing remark (480 chars)

    Attention investors or owner occupants! This 2/1 duplex awaits it's new owner. property was completely remodeled 10 years ago. Lower unit features HWF's, natural woodwork, spacious kitchen with pantry and is currently rented and making money. Live in the vacant upper unit which boasts HWF's, dining room with natural woodwork, spacious kitchen with pantry, ceramic tile bath and balcony or rent out both units and watch your investment grow Call today for your private showing!

19. 2022-04-19
    historical Contingent 480-char remark

    Show marketing remark (480 chars)

    Attention investors or owner occupants! This 2/1 duplex awaits it's new owner. property was completely remodeled 10 years ago. Lower unit features HWF's, natural woodwork, spacious kitchen with pantry and is currently rented and making money. Live in the vacant upper unit which boasts HWF's, dining room with natural woodwork, spacious kitchen with pantry, ceramic tile bath and balcony or rent out both units and watch your investment grow Call today for your private showing!

20. 2022-04-09
    listed $99,900 Active 480-char remark

    Show marketing remark (480 chars)

    Attention investors or owner occupants! This 2/1 duplex awaits it's new owner. property was completely remodeled 10 years ago. Lower unit features HWF's, natural woodwork, spacious kitchen with pantry and is currently rented and making money. Live in the vacant upper unit which boasts HWF's, dining room with natural woodwork, spacious kitchen with pantry, ceramic tile bath and balcony or rent out both units and watch your investment grow Call today for your private showing!

ⓘ 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: $17,209
• − Mortgage interest: −$7,142
• − Property taxes: −$1,912
• − Insurance: −$638
• − Repairs & maintenance: −$1,377
• − Management: −$1,377
• − Depreciation: −$3,709
• Taxable income: $1,054
• Est. tax owed @ 24.0%: −$253
• After-tax cash flow: $2,769/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 · 12 photos

Fair 45/100 Moderate rehab

This property requires moderate renovations to update the kitchen and bathroom, and improve the landscaping. It has potential for both resale and rental value with the right updates.

Repairs flagged

• Major kitchen appliances — need to replace old and worn-out appliances
• Major bathroom fixtures — need to replace old and worn-out fixtures
• Major landscaping — overgrown yard needs trimming and landscaping

Value-add opportunities

• Both update kitchen appliances — new appliances will attract both buyers and renters
• Both update bathroom fixtures — new fixtures will attract both buyers and renters
• Both landscaping — improved landscaping will increase curb appeal and attract more buyers

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen appliances · need to replace old and worn-out appliances	Major	$15,000–50,000
bathroom fixtures · need to replace old and worn-out fixtures	Major	$15,000–50,000
landscaping · overgrown yard needs trimming and landscaping	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both update kitchen appliances — new appliances will attract both buyers and renters ↑
• Both update bathroom fixtures — new fixtures will attract both buyers and renters ↑
• Both landscaping — improved landscaping will increase curb appeal and attract more buyers ↑

ⓘ 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

+27.6% since first listed

6 events — show timeline

• 2026-05-08 Price Changed $127,500 METROMLS
• 2026-04-23 Price Changed $130,000 METROMLS
• 2026-04-03 Listed $135,000 METROMLS
• 2022-06-03 Sold (MLS) $99,900 METROMLS
• 2022-04-19 Contingent — METROMLS
• 2022-04-09 Listed $99,900 METROMLS