3215 N 20th St · Milwaukee, WI 53206

$1,000

3 bd · 1.0 ba · 1,838 sqft · SingleFamily public records · 21 Days on market

Built 1906 3,484 sqft lot ↓ 21% 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 +15.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.6/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks MLS

This is a package deal and we will prefer cash or hard money lending, All 9 properties that must be purchased altogether. No exceptions. MLS nos. 1935800,1935803, 1935804,1935806, 1935812, 1935813, 1935817,1935822,1935823

Key facts

• 3,484 sq ft lot
• Built 1906
• Listed 21 days

🏷️ Possibly a rental listed for sale. The $1,000 price doesn't fit this home's estimated sale value (~$130,498) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $1k.

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 ($1k rent vs $1k).
• Recommended offer: $985 (1.5% below list) — sets the bar for market timing.
• Cap rate 1234.0% 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; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 $1,304/mo this rent would consume 53% 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 $107 of equity ($7 loan paydown + $100 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 $280 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($985) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 13y ago; this cycle's ask has dropped $36k (97%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $985 (1.5% below list)

Questions for the listing agent

1. Built in 1906 — 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: 130.38% ✓
• Cap rate: 1233.95%
• Cash-on-cash: 4384.51%
• DSCR: 196.09
• GRM: 0.1

CMA / ARV

• ARV (on-the-fly): $130,498
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3036 N 24th Pl	0.36mi	4/1.0 (+1)	1,773 (-4%)	10mo	$97,000	$55	64
3512 N 15th St	0.53mi	3/2.0	1,750 (-5%)	2mo	$201,000	$115	61
3532 N 23rd St	0.44mi	3/2.0	1,732 (-6%)	11mo	$135,000	$78	57
3722 N 23rd St	0.57mi	3/1.5	1,698 (-8%)	2mo	$215,000	$127	57
3713 N 15th St	0.66mi	3/2.0	1,750 (-5%)	4mo	$170,000	$97	54
3206 N 12th St	0.59mi	4/1.0 (+1)	1,710 (-7%)	3mo	$25,800	$15	53
2301 W Burleigh St	0.24mi	3/1.5	1,564 (-15%)	13mo	$68,000	$43	51
3539 N 21st St	0.42mi	4/2.0 (+1)	1,998 (+9%)	14mo	$230,000	$115	46
3049 N 28th St	0.59mi	4/2.0 (+1)	1,636 (-11%)	5mo	$65,700	$40	41
3745 N 25th St	0.69mi	4/1.5 (+1)	1,635 (-11%)	5mo	$100,000	$61	38
2430 W Keefe Ave	0.47mi	3/2.0	2,106 (+15%)	14mo	$150,000	$71	38
3559 N 11th St	0.75mi	4/1.0 (+1)	1,639 (-11%)	13mo	$88,000	$54	31

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: —
• Equity multiple: 260.33×
• Total profit: $72,613
• Equity at exit: $901

10-year hold

• IRR: —
• Equity multiple: 642.79×
• Total profit: $179,701
• Equity at exit: $1,943

Cash invested: $280 (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: 0.1×

Monthly cashflow live

• Estimated rent: $1,304 high
• Mortgage (P&I): −$5
• Tax est. 1.5%: −$1 /mo · $15/yr
• Insurance: −$0
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $1,023

Break-even live

Break-even rent $9

Max offer price $1,000

Occupancy floor 17%

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: $250
• Closing costs: $30
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2106A W Keefe Ave Unit 2106 Lower Milwaukee, WI	3.0	1.0	1300	$1,100	$0.85	17d	1	0.39mi
2931 W Chambers St Milwaukee, WI	2.0	1.0	1400	$1,050	$0.75	23d	1	0.70mi
2870 N 29th St #2872 Milwaukee, WI	3.0	1.0	1300	$1,250	$0.96	43d	1	0.70mi
2308 W Clarke St Milwaukee, WI	4.0	2.0	1545	$1,750	$1.13	23d	1	0.77mi
912 W Hadley St Milwaukee, WI	2.0	1.0	2222	$1,250	$0.56	14d	1	0.91mi
2809 W Clarke St Unit 12811 Milwaukee, WI	3.0	1.0	1400	$1,200	$0.86	17d	1	0.95mi
2116 W Atkinson Ave Unit A Milwaukee, WI	4.0	1.0	1707	$2,000	$1.17	1d	1	1.02mi
3122 N 42nd St Milwaukee, WI	3.0	1.0	1323	$1,495	$1.13	4d	1	1.38mi
3123 N 42nd St Milwaukee, WI	4.0	1.0	1500	$1,700	$1.13	23d	1	1.41mi
2119 W Brown St Milwaukee, WI	3.0	1.0	1754	$995	$0.57	3d	1	1.45mi
3042 N Palmer St #5 Milwaukee, WI	3.0	1.0	1718	$1,050	$0.61	23d	1	1.48mi
2719 N 1st St Milwaukee, WI	2.0	1.0	1300	$1,095	$0.84	14d	1	1.48mi

Listing history 33 events

1. 2026-06-18
   days on market $1,000 Active 21 DOM
2. 2026-06-17
   days on market $1,000 Active 20 DOM
3. 2026-06-16
   days on market $1,000 Active 19 DOM
4. 2026-06-15
   days on market $1,000 Active 18 DOM
5. 2026-06-13
   days on market $1,000 Active 16 DOM
6. 2026-06-13
   days on market $1,000 Active 15 DOM
7. 2026-06-09
   days on market $1,000 Active 12 DOM
8. 2026-06-08
   days on market $1,000 Active 11 DOM
9. 2026-06-07
   days on market $1,000 Active 10 DOM
10. 2026-06-05
    days on market $1,000 Active 7 DOM
11. 2026-06-03
    days on market $1,000 Active 6 DOM
12. 2026-06-02
    days on market $1,000 Active 5 DOM
13. 2026-06-01
    days on market $1,000 Active 4 DOM
14. 2026-05-31
    days on market $1,000 Active 3 DOM
15. 2026-03-30
    status Pending
16. 2026-03-11
    listed $37,000 Active
17. 2025-10-13
    status Pending 221-char remark

    Show marketing remark (221 chars)

    This is a package deal and we will prefer cash or hard money lending, All 9 properties that must be purchased altogether. No exceptions. MLS nos. 1935800,1935803, 1935804,1935806, 1935812, 1935813, 1935817,1935822,1935823

18. 2025-10-13
    historical 221-char remark

    Show marketing remark (221 chars)

    This is a package deal and we will prefer cash or hard money lending, All 9 properties that must be purchased altogether. No exceptions. MLS nos. 1935800,1935803, 1935804,1935806, 1935812, 1935813, 1935817,1935822,1935823

19. 2025-09-18
    price $65,000 221-char remark

    Show marketing remark (221 chars)

    This is a package deal and we will prefer cash or hard money lending, All 9 properties that must be purchased altogether. No exceptions. MLS nos. 1935800,1935803, 1935804,1935806, 1935812, 1935813, 1935817,1935822,1935823

20. 2025-09-18
    listed $60,000 Active 221-char remark

    Show marketing remark (221 chars)

    This is a package deal and we will prefer cash or hard money lending, All 9 properties that must be purchased altogether. No exceptions. MLS nos. 1935800,1935803, 1935804,1935806, 1935812, 1935813, 1935817,1935822,1935823

21. 2025-09-08
    status Pending 170-char remark

    Show marketing remark (170 chars)

    This is a package of properties that must be purchased altogether. No exceptions. MLS 1929833MLS 1929834MLS 1929836MLS 1929838MLS 1929839MLS 1929841MLS 1929845MLS 1929843

22. 2025-09-06
    historical 170-char remark

    Show marketing remark (170 chars)

    This is a package of properties that must be purchased altogether. No exceptions. MLS 1929833MLS 1929834MLS 1929836MLS 1929838MLS 1929839MLS 1929841MLS 1929845MLS 1929843

23. 2025-08-05
    listed $50,000 Active 170-char remark

    Show marketing remark (170 chars)

    This is a package of properties that must be purchased altogether. No exceptions. MLS 1929833MLS 1929834MLS 1929836MLS 1929838MLS 1929839MLS 1929841MLS 1929845MLS 1929843

24. 2024-03-30
    status Pending
25. 2024-03-29
    historical
26. 2024-03-21
    listed $54,900 Active
27. 2023-08-12
    historical
28. 2023-03-12
    listed $67,900 Active
29. 2022-03-02
    soldstatus $713,000
30. 2022-03-02
    soldstatus $713,000
31. 2013-02-02
    listed $62,900
32. 2013-02-02
    historical
33. 2003-03-27
    soldstatus $47,000

ⓘ 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,645
• − Mortgage interest: −$56
• − Property taxes: −$15
• − Insurance: −$5
• − Repairs & maintenance: −$1,252
• − Management: −$1,252
• − Depreciation: −$29
• Taxable income: $13,037
• Est. tax owed @ 24.0%: −$3,129
• After-tax cash flow: $9,148/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

-21.3% since first listed

19 events — show timeline

• 2026-03-30 Pending — METROMLS
• 2026-03-11 Listed $37,000 METROMLS
• 2025-10-13 Pending — METROMLS
• 2025-10-13 Listing Removed — METROMLS
• 2025-09-18 Price Changed $65,000 METROMLS
• 2025-09-18 Listed $60,000 METROMLS
• 2025-09-08 Pending — METROMLS
• 2025-09-06 Listing Removed — METROMLS
• 2025-08-05 Listed $50,000 METROMLS
• 2024-03-30 Pending — METROMLS
• 2024-03-29 Listing Removed — METROMLS
• 2024-03-21 Listed $54,900 METROMLS
• 2023-08-12 Listing Removed — METROMLS
• 2023-03-12 Listed $67,900 METROMLS
• 2022-03-02 Sold (Public Records) $713,000 Public Records
• 2022-03-02 Sold (Public Records) $713,000 Public Records
• 2013-02-02 Listing Removed — METROMLS
• 2013-02-02 Listed $62,900 METROMLS
• 2003-03-27 Sold (Public Records) $47,000 Public Records

Property tax history

+8.7%/yr

Latest (2024): $5,104 · +2.5% YoY. Source: county tax records.