3340 N 11th St · Milwaukee, WI 53206

$79,000

4 bd · 2.0 ba · 3,232 sqft · MultiFamily · 231 Days on market

Built 1912 Poor condition 3,920 sqft lot $24/sqft · at area comps Est $80k · at est. ↓ 10% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +8.1/15.0
• Rent growth +4.6/5.0
• Livability +4.0/5.0
• Schools +1.2/10.0
• Condition / age +1.0/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

City Tax Foreclosure - 2/2BR Duplex w/ 3,232 sqft. Note: Wiredata in MLS says building type is: Rooming House. Per city: shared water line w/ rear cottage. Property zones as Two-Family Residential. City Scope of Essential Work is $35,550. Total scope of work is $50,490. Room and lot sizes are estimates & all information should be verified. Property being sold in 'as-is' condition. Bring flashlights & use caution when entering.

Key facts

• 3,920 sq ft lot
• Built 1912
• Listed 231 days

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $79k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $613/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $79k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 24.9% 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; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% 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 $2,243/mo this rent would consume 92% 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 $8k of equity ($546 loan paydown + $8k 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 $22k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 231 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $9k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $69,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 231 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 2.84% ✓
• Cap rate: 24.92%
• Cash-on-cash: 66.51%
• DSCR: 3.96
• GRM: 2.9

CMA / ARV

• ARV (median comp): $80,067
• List price: $79,000
• Delta: -1.33%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3123 N 2nd St Unit 3123 A	0.67mi	4/2.0	2,847 (-12%)	1mo	$84,000	$30	48

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: 82.2%
• Equity multiple: 7.01×
• Total profit: $132,999
• Equity at exit: $71,169

10-year hold

• IRR: 78.2%
• Equity multiple: 17.26×
• Total profit: $359,687
• Equity at exit: $153,480

Cash invested: $22,120 (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: 5.9×

Monthly cashflow live

• Estimated rent: $2,243 high
• Mortgage (P&I): −$414
• Tax est. 1.5%: −$99 /mo · $1,185/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$471
• Net cashflow: $1,226

Break-even live

Break-even rent $691

Max offer price $79,000

Occupancy floor 40%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,244
Total (2 units)			$2,243

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3420-22 N Vel R Phillips Ave Milwaukee, WI	3.0	1.0	2756	$1,195	$0.43	44d	1	0.51mi
3420 N Vel R. Phillips Ave Unit 3422 Milwaukee, WI	3.0	1.0	2756	$1,195	$0.43	44d	1	0.52mi
2634 N Doctor M.L.K. Jr Dr Milwaukee, WI	5.0	2.5	2512	$3,700	$1.47	44d	1	1.09mi

Listing history 18 events

1. 2026-06-18
   days on market $79,000 Active 231 DOM
2. 2026-06-17
   days on market $79,000 Active 230 DOM
3. 2026-06-16
   days on market $79,000 Active 229 DOM
4. 2026-06-15
   days on market $79,000 Active 228 DOM
5. 2026-06-13
   days on market $79,000 Active 226 DOM
6. 2026-06-13
   days on market $79,000 Active 225 DOM
7. 2026-06-09
   days on market $79,000 Active 222 DOM
8. 2026-06-08
   days on market $79,000 Active 221 DOM
9. 2026-06-07
   days on market $79,000 Active 220 DOM
10. 2026-06-05
    days on market $79,000 Active 217 DOM
11. 2026-06-03
    days on market $79,000 Active 216 DOM
12. 2026-06-02
    days on market $79,000 Active 215 DOM
13. 2026-06-01
    days on market $79,000 Active 214 DOM
14. 2026-05-31
    days on market $79,000 Active 213 DOM
15. 2026-05-13
    status Active 442-char remark

    Show marketing remark (442 chars)

    City Tax Foreclosure - 2/2BR Duplex w/ 3,232 sqft. Note: Wiredata in MLS says building type is: Rooming House. Per city: shared water line w/ rear cottage. Property zones as Two-Family Residential. City Scope of Essential Work is $35,550. Total scope of work is $50,490. Room and lot sizes are estimates & all information should be verified. Property being sold in 'as-is' condition. Bring flashlights & use caution when entering.

16. 2026-04-16
    status Pending 442-char remark

    Show marketing remark (442 chars)

    City Tax Foreclosure - 2/2BR Duplex w/ 3,232 sqft. Note: Wiredata in MLS says building type is: Rooming House. Per city: shared water line w/ rear cottage. Property zones as Two-Family Residential. City Scope of Essential Work is $35,550. Total scope of work is $50,490. Room and lot sizes are estimates & all information should be verified. Property being sold in 'as-is' condition. Bring flashlights & use caution when entering.

17. 2026-01-07
    price $79,000 442-char remark

    Show marketing remark (442 chars)

    City Tax Foreclosure - 2/2BR Duplex w/ 3,232 sqft. Note: Wiredata in MLS says building type is: Rooming House. Per city: shared water line w/ rear cottage. Property zones as Two-Family Residential. City Scope of Essential Work is $35,550. Total scope of work is $50,490. Room and lot sizes are estimates & all information should be verified. Property being sold in 'as-is' condition. Bring flashlights & use caution when entering.

18. 2025-09-30
    listed $87,800 Active 442-char remark

    Show marketing remark (442 chars)

    City Tax Foreclosure - 2/2BR Duplex w/ 3,232 sqft. Note: Wiredata in MLS says building type is: Rooming House. Per city: shared water line w/ rear cottage. Property zones as Two-Family Residential. City Scope of Essential Work is $35,550. Total scope of work is $50,490. Room and lot sizes are estimates & all information should be verified. Property being sold in 'as-is' condition. Bring flashlights & use caution when entering.

ⓘ 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: $26,916
• − Mortgage interest: −$4,425
• − Property taxes: −$1,185
• − Insurance: −$395
• − Repairs & maintenance: −$2,153
• − Management: −$2,153
• − Depreciation: −$2,298
• Taxable income: $14,306
• Est. tax owed @ 24.0%: −$3,433
• After-tax cash flow: $11,279/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

Poor 20/100 Extensive rehab

This multi-family property requires extensive repairs and maintenance, including exterior siding, roof, interior walls, windows, and HVAC systems. Immediate action is needed to prevent further damage and improve the property's value.

Repairs flagged

• Major Exterior siding — Weathered and in poor condition
• Major Roof — Snow on roof, potential damage
• Major Interior walls — Exposed ceiling, missing walls
• Major Windows — Exposed frames, missing glass
• Major HVAC/mechanicals — Exposed ceiling, missing walls

Value-add opportunities

• Both Exterior siding — Improves curb appeal and value
• Both Roof — Prevents water damage and improves value
• Both Interior walls — Restores structural integrity and improves value
• Both Windows — Improves energy efficiency and value
• Both HVAC/mechanicals — Improves comfort and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Weathered and in poor condition	Major	$15,000–50,000
Roof · Snow on roof, potential damage	Major	$15,000–50,000
Interior walls · Exposed ceiling, missing walls	Major	$15,000–50,000
Windows · Exposed frames, missing glass	Major	$15,000–50,000
HVAC/mechanicals · Exposed ceiling, missing walls	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both Exterior siding — Improves curb appeal and value ↑
• Both Roof — Prevents water damage and improves value ↑
• Both Interior walls — Restores structural integrity and improves value ↑
• Both Windows — Improves energy efficiency and value ↑
• Both HVAC/mechanicals — Improves comfort and 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): 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

-10.0% since first listed

4 events — show timeline

• 2026-05-13 Relisted — METROMLS
• 2026-04-16 Pending — METROMLS
• 2026-01-07 Price Changed $79,000 METROMLS
• 2025-09-30 Listed $87,800 METROMLS