3320 N 3rd St · Milwaukee, WI 53212

$31,000

4 bd · 1.0 ba · 1,704 sqft · SingleFamily public records · 5 Days on market

Built 1905 4,356 sqft lot

---

Why this score? — see what drove the D 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
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Great investment opportunity. Newer furnace and hot water heater. Room measurements are approximate, . Cap rate for the first year is an amazing 16.5%, The rent is $950.00 on a month to month lease, the tenants also pay all utilities including water. The current tenants are excellent renters with on time payments for two years.

Key facts

• 4,356 sq ft lot
• Built 1905
• Listed 4 days

Property features AI

Finance

• Other: All items left behind at the time of closing are included

Exterior

• Utilities: Municipal water
• Home design: 1.5-story single-family home; Less than 1/2 acre lot (approx. 0.1 acre); Zoned RT4
• Construction: Information source for year built: Assessor/Public Record
• Exterior features: Aluminum / Aluminum or steel exterior

Interior

• Kitchen: Kitchen on main level, approximately 11 x 10; Appliances: Other
• Bedrooms: Primary bedroom on main level, approximately 12 x 13; Second bedroom on upper level, approximately 12 x 13; Third bedroom on upper level, approximately 10 x 9; Fourth bedroom on upper level, approximately 10 x 8
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Radiant/hot water heating; Natural gas fuel
• Interior features: Full basement
• Laundry & utility: Radiant/hot water heating (natural gas)

🏷️ Possibly a rental listed for sale. The $31,000 price doesn't fit this home's estimated sale value (~$195,960) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $31k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $31k).
• Cap rate 45.5% 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); 131 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• This rent runs 42% of the median local income ($47k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $214 of loan paydown is wiped out by about $930 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 $9k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 12y 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 4.4% of price; built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $31,000

Questions for the listing agent

1. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 5.31% ✓
• Cap rate: 45.47%
• Cash-on-cash: 139.92%
• DSCR: 7.23
• GRM: 1.6

CMA / ARV

• ARV (on-the-fly): $195,960
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3234 N Achilles St	0.24mi	4/1.5	1,645 (-4%)	1mo	$105,000	$64	80
3279 N Dr William Finlayson St	0.20mi	4/2.0	1,504 (-12%)	1mo	$202,500	$135	67
3206 N 12th St	0.65mi	4/1.0	1,710 (+0%)	3mo	$25,800	$15	66
3421 N Fratney St	0.61mi	4/2.5	1,680 (-1%)	1mo	$385,000	$229	62
3033 N Holton St	0.56mi	3/1.0 (-1)	1,652 (-3%)	2mo	$124,000	$75	62
3766 N Vel R Phillips Ave	0.41mi	4/3.0	1,621 (-5%)	4mo	$129,000	$80	61
3558 N 11th St	0.61mi	5/1.5 (+1)	1,656 (-3%)	5mo	$150,000	$91	56
3230 N 12th St	0.64mi	5/1.0 (+1)	1,762 (+3%)	4mo	$140,000	$79	56
3783 N 9th St	0.65mi	4/2.0	1,562 (-8%)	2mo	$220,000	$141	50
3480 N Bremen St	0.71mi	4/1.5	1,524 (-11%)	4mo	$186,500	$122	43
615 E Chambers St	0.69mi	3/1.5 (-1)	1,540 (-10%)	6mo	$272,500	$177	40
402 W Melvina St	0.63mi	5/2.0 (+1)	1,948 (+14%)	4mo	$223,137	$115	35

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: —
• Equity multiple: 8.25×
• Total profit: $62,887
• Equity at exit: $4,622

10-year hold

• IRR: —
• Equity multiple: 18.57×
• Total profit: $152,499
• Equity at exit: $2,680

Cash invested: $8,680 (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: 131
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $1,647 high
• Mortgage (P&I): −$163
• Tax from tax record: −$113 /mo · $1,361/yr
• Insurance: −$13
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $1,012

Break-even live

Break-even rent $366

Max offer price $31,000

Occupancy floor 34%

Sensitivity live

Price	-10% $1,030	-5% $1,021	+0% $1,012	+5% $1,003	+10% $995
Rent	-10% $882	-5% $947	+0% $1,012	+5% $1,077	+10% $1,142
Rate	-1.0pp $1,028	-0.5pp $1,020	base $1,012	+0.5pp $1,004	+1.0pp $996

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: $7,750
• Closing costs: $930
• Reserves months: —
• Total cash needed: —

Rent comps 18 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	0.37mi
223 E Burleigh St Unit 223 Milwaukee, WI	4.0	1.0	1153	$1,395	$1.21	44d	1	0.41mi
3042 N Palmer St #5 Milwaukee, WI	3.0	1.0	1718	$1,050	$0.61	24d	1	0.43mi
3045 N 11th St #3047 Milwaukee, WI	3.0	1.0	1065	$1,175	$1.10	5d	1	0.67mi
3416 N 17th St Unit 1 Milwaukee, WI	3.0	1.0	1200	$1,100	$0.92	44d	1	0.92mi
2772 N Bremen St #2774 Milwaukee, WI	3.0	1.0	1500	$1,795	$1.20	44d	1	0.99mi
2761 N Humboldt Blvd Unit First Floor Milwaukee, WI	3.0	1.0	1236	$1,600	$1.29	18d	1	1.07mi
2507 N Buffum St Milwaukee, WI	3.0	1.0	1300	$1,375	$1.06	20d	1	1.09mi
400 E Meinecke Ave #402 Milwaukee, WI	3.0	1.0	1700	$1,800	$1.06	17d	1	1.22mi
3131 N Bartlett Ave Unit 1 Milwaukee, WI	4.0	1.0	1600	$1,750	$1.09	44d	1	1.27mi
2106A W Keefe Ave Unit 2106 Lower Milwaukee, WI	3.0	1.0	1300	$1,100	$0.85	18d	1	1.27mi
3377 N Oakland Ave Milwaukee, WI	4.0	2.0	1358	$2,550	$1.88	2d	1	1.31mi
2429 N Weil St Milwaukee, WI	3.0	1.0	1300	$1,500	$1.15	44d	1	1.34mi
3246 N Oakland Ave #3244 Milwaukee, WI	3.0	1.0	1309	$2,010	$1.54	2d	1	1.35mi
1814 E Linnwood Ave Milwaukee, WI	4.0	2.0	1800	$3,100	$1.72	44d	1	1.41mi
1902 E Linnwood Ave Unit 1902 05 Milwaukee, WI	4.0	1.5	1599	$2,400	$1.50	5d	1	1.46mi
1902 E Linnwood Ave Unit 1902 3002 Milwaukee, WI	3.0	1.0	1300	$1,899	$1.46	44d	1	1.46mi
1902 E Linnwood Ave Unit 1902 04 Milwaukee, WI	4.0	1.5	1599	$2,400	$1.50	18d	1	1.46mi

Listing history 4 events

1. 2026-06-21
   days on market $31,000 Active 5 DOM
2. 2026-06-18
   days on market $31,000 Active 2 DOM
3. 2026-06-17
   remarks 699-char remark
4. 2026-06-17
   listed $31,000 Active 1 DOM

ⓘ 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: $1,361 · $113/mo
• Projected year-2 tax: $1,361 · $113/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: $19,762
• − Mortgage interest: −$1,736
• − Property taxes: −$1,361
• − Insurance: −$155
• − Repairs & maintenance: −$1,581
• − Management: −$1,581
• − Depreciation: −$902
• Taxable income: $12,446
• Est. tax owed @ 24.0%: −$2,987
• After-tax cash flow: $9,158/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

+156.2% since first listed

14 events — show timeline

• 2026-06-17 Listed $31,000 METROMLS
• 2023-08-21 Sold (Public Records) $60,000 Public Records
• 2023-08-16 Sold (MLS) $60,000 METROMLS
• 2023-07-15 Pending — METROMLS
• 2023-06-09 Relisted — METROMLS
• 2023-05-28 Pending — METROMLS
• 2023-05-09 Price Changed $69,000 METROMLS
• 2023-04-12 Listed $79,000 METROMLS
• 2014-01-08 Listing Removed — METROMLS
• 2014-01-08 Listed $16,000 METROMLS
• 2012-04-11 Sold (Public Records) $343,200 Public Records
• 2012-03-26 Sold (MLS) $13,725 METROMLS
• 2000-01-10 Sold (Public Records) $32,000 Public Records
• 1971-01-01 Sold (Public Records) $12,100 Public Records

Property tax history

+2.3%/yr

Latest (2024): $1,361 · -13.4% YoY. Source: county tax records.