3407 N 39th St #3409 · Milwaukee, WI 53216

$119,900

6 bd · 4.0 ba · 1,725 sqft · SingleFamily · 251 Days on market

Built 1927 Fair condition 4,356 sqft lot $70/sqft · 8% below area Est $131k · 8% under

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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
• ARV discount +11.3/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +5.7/10.0
• Rent growth +4.3/5.0
• Livability +4.0/5.0
• Condition / age +2.2/5.0
• Schools +1.2/10.0

Listing remarks MLS

For those waiting for an opportunity to knock at your door, HERE IT IS!!! Solid, Spacious, income producing duplex awaiting its new owner(s), whether you're an astute investor or an owner occupant looking to supplement your income with one of these wonderful units. Units have similar layouts, nice laminated wood flooring, built-in buffets in both units, newer lighting, full basement with separate mechanicals, and a deep driveway for off-street parking. A sure hit. .. guaranteed to NOT disappoint. Set up your showing today.

Key facts

• Built-in buffets
• Full basement
• Deep driveway

Tags

• INCOME PRODUCING DUPLEX
• LAMINATED WOOD FLOORING
• BUILT-IN BUFFETS
• FULL BASEMENT
• DEEP DRIVEWAY

What this means for you Summary

Snapshot

• This is a 6-bed/4.0-bath single-family listed at $120k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $782 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.1% 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 (+7.0%/yr); 131 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $2,038/mo this rent would consume 52% of the median local household income ($47k/yr) (locally 2202% 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 $2k of equity ($829 loan paydown + $2k appreciation (1.3% local appreciation)).
• Milwaukee County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (1.3% appreciation + 7.0% rent growth), your $34k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 251 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 14y ago; this cycle's ask has dropped $50k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; list at $120k implies a 118% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 251 days. Have you received any prior offers? Is the seller open to a 12% 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 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.70% ✓
• Cap rate: 14.12%
• Cash-on-cash: 27.94%
• DSCR: 2.24
• GRM: 4.9

CMA / ARV

• ARV (median comp): $130,961
• List price: $119,900
• Delta: -8.45%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3444 N 41st St	0.09mi	5/1.5 (-1)	1,698 (-2%)	3mo	$145,000	$85	75
2956 N 39th St	0.59mi	5/2.0 (-1)	1,812 (+5%)	2mo	$206,000	$114	49
3000 N 37th St	0.56mi	5/2.0 (-1)	1,887 (+9%)	13mo	$149,900	$79	34
3734 N 50th St	0.71mi	5/2.0 (-1)	1,851 (+7%)	12mo	$262,000	$142	32
3817 N 39th St	0.35mi	5/1.5 (-1)	1,476 (-14%)	16mo	$200,000	$136	32
3718 N 50th St	0.70mi	5/3.0 (-1)	1,960 (+14%)	10mo	$250,000	$128	27
2856 N 40th St	0.72mi	5/2.0 (-1)	1,919 (+11%)	23mo	$160,000	$83	15

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.33% appreciation · 7.01% rent growth · sell at horizon

5-year hold

• IRR: 34.3%
• Equity multiple: 2.86×
• Total profit: $62,551
• Equity at exit: $42,993

10-year hold

• IRR: 38.4%
• Equity multiple: 6.41×
• Total profit: $181,770
• Equity at exit: $58,764

Cash invested: $33,572 (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 53216

• Home prices YoY: 0.3%
• Rents YoY: 7.0%
• Active inventory: 131
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $2,038 medium
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,798/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$428
• Net cashflow: $782

Break-even live

Break-even rent $1,049

Max offer price $119,900

Occupancy floor 57%

Sensitivity live

Price	-10% $865	-5% $823	+0% $782	+5% $740	+10% $699
Rent	-10% $621	-5% $701	+0% $782	+5% $862	+10% $943
Rate	-1.0pp $842	-0.5pp $812	base $782	+0.5pp $751	+1.0pp $719

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2704 W Concordia Ave Unit Na Milwaukee, WI	5.0	2.0	1856	$2,500	$1.35	26d	1	0.79mi
2432 N 28th St Milwaukee, WI	5.0	1.5	1876	$1,600	$0.85	46d	1	1.43mi

Listing history 31 events

1. 2026-06-22
   days on market $119,900 Active 251 DOM
2. 2026-06-21
   days on market $119,900 Active 250 DOM
3. 2026-06-18
   remarks 633-char remark
4. 2026-06-18
   price $119,900 Active 247 DOM
5. 2026-06-18
   days on market $129,900 Active 247 DOM
6. 2026-06-17
   days on market $129,900 Active 246 DOM
7. 2026-06-16
   days on market $129,900 Active 245 DOM
8. 2026-06-15
   days on market $129,900 Active 244 DOM
9. 2026-06-13
   days on market $129,900 Active 242 DOM
10. 2026-06-13
    days on market $129,900 Active 241 DOM
11. 2026-06-09
    days on market $129,900 Active 238 DOM
12. 2026-06-08
    days on market $129,900 Active 237 DOM
13. 2026-06-07
    days on market $129,900 Active 236 DOM
14. 2026-06-05
    days on market $129,900 Active 233 DOM
15. 2026-06-03
    days on market $129,900 Active 232 DOM
16. 2026-06-02
    days on market $129,900 Active 231 DOM
17. 2026-06-01
    days on market $129,900 Active 230 DOM
18. 2026-05-31
    days on market $129,900 Active 229 DOM
19. 2026-04-20
    price $129,900 530-char remark

    Show marketing remark (530 chars)

    For those waiting for an opportunity to knock at your door, HERE IT IS!!! Solid, Spacious, income producing duplex awaiting its new owner(s), whether you're an astute investor or an owner occupant looking to supplement your income with one of these wonderful units. Units have similar layouts, nice laminated wood flooring, built-in buffets in both units, newer lighting, full basement with separate mechanicals, and a deep driveway for off-street parking. A sure hit. .. guaranteed to NOT disappoint. Set up your showing today.

20. 2026-01-16
    price $139,900 530-char remark

    Show marketing remark (530 chars)

    For those waiting for an opportunity to knock at your door, HERE IT IS!!! Solid, Spacious, income producing duplex awaiting its new owner(s), whether you're an astute investor or an owner occupant looking to supplement your income with one of these wonderful units. Units have similar layouts, nice laminated wood flooring, built-in buffets in both units, newer lighting, full basement with separate mechanicals, and a deep driveway for off-street parking. A sure hit. .. guaranteed to NOT disappoint. Set up your showing today.

21. 2025-11-28
    price $149,900 530-char remark

    Show marketing remark (530 chars)

    For those waiting for an opportunity to knock at your door, HERE IT IS!!! Solid, Spacious, income producing duplex awaiting its new owner(s), whether you're an astute investor or an owner occupant looking to supplement your income with one of these wonderful units. Units have similar layouts, nice laminated wood flooring, built-in buffets in both units, newer lighting, full basement with separate mechanicals, and a deep driveway for off-street parking. A sure hit. .. guaranteed to NOT disappoint. Set up your showing today.

22. 2025-10-14
    listed $169,900 Active 530-char remark

    Show marketing remark (530 chars)

    For those waiting for an opportunity to knock at your door, HERE IT IS!!! Solid, Spacious, income producing duplex awaiting its new owner(s), whether you're an astute investor or an owner occupant looking to supplement your income with one of these wonderful units. Units have similar layouts, nice laminated wood flooring, built-in buffets in both units, newer lighting, full basement with separate mechanicals, and a deep driveway for off-street parking. A sure hit. .. guaranteed to NOT disappoint. Set up your showing today.

23. 2013-02-09
    listed $59,999 306-char remark

    Show marketing remark (306 chars)

    This is the property you've been looking forward to. Well maintained, spacious, unique details and lots of opportunities for storage. The homeowner has created memories for over 30 years. Enjoy the large LR & DR w/ built-in's, offers eat-in kitchen & nice bathrooms. Make it your own. Rm Sz Est

24. 2013-02-09
    historical 306-char remark

    Show marketing remark (306 chars)

    This is the property you've been looking forward to. Well maintained, spacious, unique details and lots of opportunities for storage. The homeowner has created memories for over 30 years. Enjoy the large LR & DR w/ built-in's, offers eat-in kitchen & nice bathrooms. Make it your own. Rm Sz Est

25. 2012-10-09
    listed $59,999
26. 2012-10-09
    historical
27. 2012-01-21
    historical
28. 2012-01-21
    listed $79,900
29. 2012-01-21
    listed $84,400
30. 2012-01-21
    historical
31. 2010-06-30
    soldstatus $55,000

ⓘ 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,460
• − Mortgage interest: −$6,716
• − Property taxes: −$1,798
• − Insurance: −$600
• − Repairs & maintenance: −$1,957
• − Management: −$1,957
• − Depreciation: −$3,488
• Taxable income: $7,944
• Est. tax owed @ 24.0%: −$1,907
• After-tax cash flow: $7,473/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 its kitchen and bathrooms, but has good exterior and interior walls. The laminate flooring and good roof condition make it a solid investment opportunity.

Repairs flagged

• Major kitchen appliances — outdated and cluttered
• Major bathroom fixtures — outdated and cluttered
• Minor kitchen cabinets — slightly worn

Value-add opportunities

• Both kitchen appliances — modernizing the kitchen would improve both resale and rental value
• Both bathroom fixtures — modernizing the bathrooms would improve both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen appliances · outdated and cluttered	Major	$15,000–50,000
bathroom fixtures · outdated and cluttered	Major	$15,000–50,000
kitchen cabinets · slightly worn	Minor	$500–3,000
Total estimated repair cost · 3 items		$30,500–103,000

Value-add ROI direction

• Both kitchen appliances — modernizing the kitchen would improve both resale and rental value ↑
• Both bathroom fixtures — modernizing the bathrooms would improve both resale and rental 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): 30,345
• Household income: $46,752
• Rent vs Own: 52.7% rent · 47.3% own
• Severe rent burden: 2202.0

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 (81%)
• Race & ethnicity: Black 81% White 9% Hispanic / Latino 5% Two or more races 5% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 1%
• Foreign-born: 3% · Canada, Philippines, China
• Languages at home: 93% English-only · Spanish 4% Other Asian/Pacific 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: ▲ 1.33%
• Current HPI: 381.0954
• Rent YoY: ▲ 7.01%
• 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

+136.2% since first listed

13 events — show timeline

• 2026-04-20 Price Changed $129,900 METROMLS
• 2026-01-16 Price Changed $139,900 METROMLS
• 2025-11-28 Price Changed $149,900 METROMLS
• 2025-10-14 Listed $169,900 METROMLS
• 2013-02-09 Listing Removed — METROMLS
• 2013-02-09 Listed $59,999 METROMLS
• 2012-10-09 Listing Removed — METROMLS
• 2012-10-09 Listed $59,999 METROMLS
• 2012-01-21 Listed $79,900 METROMLS
• 2012-01-21 Listing Removed — METROMLS
• 2012-01-21 Listing Removed — METROMLS
• 2012-01-21 Listed $84,400 METROMLS
• 2010-06-30 Sold (MLS) $55,000 METROMLS