8900 N Park Plaza Ct #112 · Brown Deer, WI 53223

$59,900

1 bd · 1.0 ba · 1,010 sqft · Condo · 4 Days on market

Built 1981 $490/mo HOA · 39% of rent ↓ 27% since listing

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Why this score? — see what drove the C- 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 +17.7/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Spacious 1 bed, 1 bath condo offering a great opportunity to own for less than rent. Features a generously sized bedroom with several large windows providing natural light, along with multiple closets for ample storage. Enjoy the convenience of an in-unit full-size washer and dryer. Relax on the patio or take advantage of the community pool during the warmer months. Additional amenities include a heated underground parking garage, storage unit, elevator, and secure lobby entrance. Conveniently located within walking distance to grocery stores and shopping. Schedule your showing today-opportunities like this at this price point don't last long!Owner-occupancy required. Property is being sold

Key facts

• Community pool
• Elevator
• $490 HOA

Tags

• IN UNIT WASHER AND DRYER
• COMMUNITY POOL
• ELEVATOR
• SECURE LOBBY ENTRANCE
• WALKING DISTANCE TO SHOPPING

Property features AI

Finance

• Other: Condominium name: Tudor Park Condominiums; 36 units in the building/association
• HOA & community: Monthly condo fee of $490; Community amenities: common green space, elevator, exercise room, outdoor pool

Exterior

• Parking: Assigned parking (1 space); Attached, heated underground garage with opener — 1 car
• Utilities: Municipal water; Municipal sewer; Natural gas
• Home design: Condo; 2-story building; Unit is 1-story in the condominium layout; Zoned residential
• Construction: Brick, brick/stone and wood construction
• Exterior features: Patio/porch; Brick, brick/stone and wood exterior

Interior

• Kitchen: Range; Refrigerator; Dishwasher; Garbage disposal
• Bedrooms: Master bedroom (Main level) — 18 x 14
• Bathrooms: Master bathroom with tub/shower combo; Additional bath with tub only; 1 full bathroom total
• Heating & cooling: Forced air heating; Central air; Natural gas heat
• Interior features: Cable/Satellite available; High-speed internet; Pantry; Storage lockers; Full basement
• Laundry & utility: In-unit washer and dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $60k.

Deal economics

• At list price, monthly cash flow is $48 ($581/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Cap rate 7.3% vs local median 4.3% in Brown Deer — 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 80/100 on livability (#60 in WI, #1,658 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D, amenities F.
• Brown Deer School District (suburban): math 19% / reading 26% proficiency, ranked #317 of 342 in WI (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Brown Deer Elementary (math 18% / reading 25%, grade F, #855 of 1,041 statewide, top 82%, 709 students, 60% FRL); Brown Deer Middle/High (math 19% / reading 26%, grade F, #347 of 483 statewide, top 72%, 944 students, 53% FRL) — zoned schools average 56% FRL vs 33% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 46 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $414 of loan paydown is wiped out by about $2k 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.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: HOA is 39% of rent.

Recommended offer $59,900

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-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 D 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. 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.
7. 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.
8. 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: 2.11% ✓
• Cap rate: 7.26%
• Cash-on-cash: 3.47%
• DSCR: 1.15
• GRM: 3.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -10.2%
• Equity multiple: 0.63×
• Total profit: $-6,271
• Equity at exit: $8,931

10-year hold

• IRR: -0.1%
• Equity multiple: 1.00×
• Total profit: $-68
• Equity at exit: $5,179

Cash invested: $16,772 (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 53223

• Home prices YoY: -27.7%
• Active inventory: 46
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,266 high
• Mortgage (P&I): −$314
• Tax from tax record: −$122 /mo · $1,469/yr
• Insurance: −$25
• HOA: −$490
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $48

Break-even live

Break-even rent $1,204

Max offer price $59,900

Occupancy floor 91%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8901 N Park Plaza Ct Milwaukee, WI	1.0–2.0	1.0–2.0	975	$1,160	$1.19	1d	1	0.14mi
7290 W Dean Rd Milwaukee, WI	2.0	1.0–1.5	625	$1,170	$1.87	1d	8	0.80mi
7300 W Dean Rd Milwaukee, WI	1.0–2.0	1.0–1.5	850	$1,145	$1.35	2d	8	0.81mi
7601 W Donna Ct #1 Milwaukee, WI	2.0	1.5	872	$1,250	$1.43	23d	1	0.93mi
6401 W Bradley Rd Milwaukee, WI	1.0–3.0	1.0–2.5	882	$1,200	$1.36	1d	2	1.18mi
9100 N 85th St Milwaukee, WI	2.0	1.0	950	$1,245	$1.31	43d	1	1.24mi
8725 N 43rd St Milwaukee, WI	1.0–3.0	1.0–3.0	1189	$1,415	$1.19	1d	12	1.32mi
8925 N Deerwood Dr Brown Deer, WI	3.0	1.0–2.0	1067	$1,882	$1.76	1d	17	1.33mi
4401 W Deer Run Dr Brown Deer, WI	1.0–3.0	1.0–2.0	995	$1,395	$1.40	1d	10	1.40mi
8600 N Deerwood Dr Brown Deer, WI	1.0–2.0	1.0–2.0	946	$1,386	$1.47	1d	15	1.47mi
8600 N Deerwood Dr Brown Deer, WI	2.0	1.0–2.0	916	$1,681	$1.84	43d	12	1.47mi

HOA detail condo

• Monthly dues: $490 · $5,880/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-05-05
   status Pending 794-char remark
2. 2026-04-30
   listed $59,900 Active 794-char remark
3. 2005-05-20
   soldstatus $82,000

ⓘ 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: $1,469 · $122/mo
• Projected year-2 tax: $1,469 · $122/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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,189
• − Mortgage interest: −$3,355
• − Property taxes: −$1,469
• − Insurance: −$300
• − Repairs & maintenance: −$1,215
• − Management: −$1,215
• − HOA: −$5,880
• − Depreciation: −$1,743
• Taxable income: $12
• Est. tax owed @ 24.0%: −$3
• After-tax cash flow: $578/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: Brown Deer School District
• NCES district ID: 5501800
• Math proficiency: 19% ▼ -19.00%
• Reading proficiency: 26% ▼ -9.00%
• Median HH income: $57,375
• Composite: 20.67/100
• National rank: #8534
• State rank: #317 of 342 in WI

Livability — Brown Deer

• Score: 80/100
• State rank: #60
• US rank: #1658

Category grades

Amenities F Commute A+ Cost of living A+ Crime D Employment A- Housing A+ Health & safety A+ User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Brown Deer, WI
• County: Milwaukee County · 926,379 people
• Metro: Milwaukee-Waukesha, WI
• Population (ZIP): 28,793
• Household income: $60,839
• Rent vs Own: 46.6% rent · 53.4% own
• Severe rent burden: 1084.0

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 0.59)
• Race & ethnicity: Black 57% White 29% Asian 6% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Romanian 3% Portuguese 1% Lithuanian 1%
• Foreign-born: 7% · Canada
• Languages at home: 89% English-only · Other Asian/Pacific 4% Spanish 2% French/Haitian/Cajun 1%

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: ▼ -108.51%
• Current HPI: 283.4147
• Rent YoY: —
• 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

-27.0% since first listed

3 events — show timeline

• 2026-05-05 Pending — METROMLS
• 2026-04-30 Listed $59,900 METROMLS
• 2005-05-20 Sold (Public Records) $82,000 Public Records

Property tax history

+1.2%/yr

Latest (2024): $1,469 · +146.2% YoY. Source: county tax records.