3543 N 9th St · Milwaukee, WI 53206

$154,900

4 bd · 2.0 ba · 1,465 sqft · SingleFamily public records · 6 Days on market

Built 1923 3,920 sqft lot Est $168k · 8% under

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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 +15.5/30.0
• ARV discount +11.1/15.0
• Appreciation +10.0/10.0
• DSCR +4.8/10.0
• Rent growth +4.6/5.0
• Livability +4.0/5.0
• 1% rule +3.6/10.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks MLS

Good Bones but needs work! It's 1456 ft square, has 4 true bedrooms and two full baths. Interior is rough but has good bones and decent curb appeal. Water is turned off at the street but plumbing is in place along with the rest of the mechanicals. There is a wet spot in the living room ceiling but the seller stated that the shingles were replace not to long ago and wetness may be caused from damaged gutters and ice damning. It has an updated electric panel. This property likely will not qualify for conventional financing, cash or hard money buyers are preferred. Sight unseen offers will not be considered. Broker did not verify room sizes.

Key facts

• 3,920 sq ft lot
• Built 1923
• Listed 6 days

Property features AI

Finance

• Other: Appliances excluded from sale: Refrigerator, Range, Microwave

Exterior

• Utilities: Municipal water; Municipal sewer; Natural gas
• Home design: 1.5-story single-family home; Year built source: Assessor/Public Record
• Construction: Vinyl siding
• Exterior features: Vinyl exterior; Less than 1/2 acre lot (approx. 0.09 acre); Zoned RT4

Interior

• Kitchen: Microwave; Range; Refrigerator
• Bedrooms: Master bedroom (main level) approximately 11 x 11; Bedroom 2 (upper level) approximately 10 x 9; Bedroom 3 (upper level) approximately 9 x 9; Bedroom 4 approximately 9 x 10
• Bathrooms: Two full bathrooms; Ceramic tile; Shower over tub; Tub only
• Heating & cooling: Forced air heating; Natural gas heat
• Interior features: Full basement; Living room (main level) approximately 20 x 20; Dining room (main level) approximately 15 x 15

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $62 ($749/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $133k (13.9% below list).
• Recommended offer: $133k (13.9% below list) — sets the bar for 1% rule.
• Cap rate 6.8% 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; 19 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 $1,334/mo this rent would consume 55% 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 $17k of equity ($1k loan paydown + $15k 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 $43k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y 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.
• Current owner paid $60k; list at $155k implies a 158% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $133,435 (13.9% below list)

Questions for the listing agent

1. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.86% ✗
• Cap rate: 6.78%
• Cash-on-cash: 1.73%
• DSCR: 1.08
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $168,475
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3279 N Dr William Finlayson St	0.40mi	4/2.0	1,504 (+3%)	1mo	$202,500	$135	76
3783 N 9th St	0.25mi	4/2.0	1,562 (+7%)	2mo	$220,000	$141	75
3700 N 14th St	0.32mi	5/2.0 (+1)	1,611 (+10%)	2mo	$205,000	$127	62
3422 N 11th St	0.17mi	5/2.0 (+1)	1,249 (-15%)	1mo	$159,000	$127	62
1225 W Keefe Ave	0.23mi	5/1.0 (+1)	1,294 (-12%)	1mo	$90,000	$70	60
3311 N 8th St	0.24mi	4/1.0	1,259 (-14%)	2mo	$63,000	$50	59
3840 N 18th St St	0.61mi	3/2.0 (-1)	1,413 (-4%)	2mo	$120,000	$85	59
3766 N Vel R Phillips Ave	0.45mi	4/3.0	1,621 (+11%)	4mo	$129,000	$80	54
2937 N 11th St	0.74mi	4/2.0	1,347 (-8%)	1mo	$155,000	$115	51
3735 N 15th St	0.42mi	5/1.0 (+1)	1,263 (-14%)	1mo	$155,000	$123	47
3234 N Achilles St	0.75mi	4/1.5	1,645 (+12%)	1mo	$105,000	$64	42
4110 N 7th St	0.66mi	3/1.0 (-1)	1,296 (-12%)	4mo	$95,000	$73	37

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: 27.2%
• Equity multiple: 3.20×
• Total profit: $95,360
• Equity at exit: $139,546

10-year hold

• IRR: 25.2%
• Equity multiple: 7.80×
• Total profit: $295,109
• Equity at exit: $300,937

Cash invested: $43,372 (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: 9.7×

Monthly cashflow live

• Estimated rent: $1,334 high
• Mortgage (P&I): −$812
• Tax from tax record: −$115 /mo · $1,379/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $62

Break-even live

Break-even rent $1,255

Max offer price $154,900

Occupancy floor 90%

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3298 N 13th St Milwaukee, WI	3.0	1.0	885	$895	$1.01	43d	1	0.35mi
3416 N 17th St Unit 1 Milwaukee, WI	3.0	1.0	1200	$1,100	$0.92	43d	1	0.48mi
3703 N 1st St Unit Upper-3705 Milwaukee, WI	3.0	1.0	1034	$1,200	$1.16	43d	1	0.60mi
3045 N 11th St #3047 Milwaukee, WI	3.0	1.0	1065	$1,175	$1.10	4d	1	0.62mi
2106A W Keefe Ave Unit 2106 Lower Milwaukee, WI	3.0	1.0	1300	$1,100	$0.85	17d	1	0.79mi
312 E Townsend St Unit 312 Milwaukee, WI	3.0	1.0	1400	$1,250	$0.89	23d	1	0.83mi
223 E Burleigh St Unit 223 Milwaukee, WI	4.0	1.0	1153	$1,395	$1.21	43d	1	0.93mi
3042 N Palmer St #5 Milwaukee, WI	3.0	1.0	1718	$1,050	$0.61	23d	1	0.94mi
2116 W Atkinson Ave Unit A Milwaukee, WI	4.0	1.0	1707	$2,000	$1.17	1d	1	1.00mi
3029 N Holton St Milwaukee, WI	3.0	1.0	980	$1,200	$1.22	43d	1	1.10mi
2945 N 23rd St Milwaukee, WI	3.0	1.0	1014	$1,195	$1.18	43d	1	1.18mi
3388 N 27th St Unit 3388 Front House Milwaukee, WI	4.0	1.0	1212	$1,550	$1.28	4d	1	1.22mi
2724 N Palmer St Milwaukee, WI	3.0	1.0	900	$1,300	$1.44	43d	1	1.24mi
2577 N Vel R Phillips Ave Milwaukee, WI	3.0	1.0	1048	$1,400	$1.34	17d	1	1.25mi
2704 W Concordia Ave Unit Na Milwaukee, WI	5.0	2.0	1856	$2,500	$1.35	23d	1	1.27mi
2741 N 23rd St Milwaukee, WI	3.0	1.0	900	$1,050	$1.17	14d	1	1.35mi
2741 N 23rd St Unit 2 Milwaukee, WI	3.0	1.0	1000	$1,100	$1.10	17d	1	1.35mi
2821 W Concordia Ave Milwaukee, WI	3.0	1.5	1098	$1,595	$1.45	2d	1	1.35mi
2308 W Clarke St Milwaukee, WI	4.0	2.0	1545	$1,750	$1.13	23d	1	1.50mi

Listing history 6 events

1. 2026-06-18
   days on market $154,900 Active 6 DOM
2. 2026-06-17
   days on market $154,900 Active 5 DOM
3. 2026-06-16
   days on market $154,900 Active 4 DOM
4. 2026-06-15
   days on market $154,900 Active 3 DOM
5. 2026-06-13
   remarks 37-char remark
6. 2026-06-13
   listed $154,900 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: $1,379 · $115/mo
• Projected year-2 tax: $2,122 · $177/mo
• Expected delta: +$744/yr (+$62/mo · 53.9%)

ⓘ 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: $16,012
• − Mortgage interest: −$8,677
• − Property taxes: −$1,379
• − Insurance: −$774
• − Repairs & maintenance: −$1,281
• − Management: −$1,281
• − Depreciation: −$4,506
• Taxable loss: −$1,886
• Est. tax savings @ 24.0%: +$453
• After-tax cash flow: $1,201/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): 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

+324.4% since first listed

6 events — show timeline

• 2026-06-12 Listed $154,900 METROMLS
• 2026-03-20 Sold (Public Records) $60,000 Public Records
• 2025-11-04 Sold (Public Records) $70,000 Public Records
• 2024-03-21 Listing Removed — METROMLS
• 2024-03-13 Contingent — METROMLS
• 2024-03-12 Listed $36,500 METROMLS

Property tax history

-4.9%/yr

Latest (2024): $1,379 · -60.7% YoY. Source: county tax records.