2355 N 20th St · Milwaukee, WI 53206

$97,000

3 bd · 2.0 ba · 1,615 sqft · MultiFamily public records · 7 Days on market

Built 1890 3,920 sqft lot $60/sqft · 47% above area Est $67k · 44% over

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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
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.3/10.0
• Rent growth +4.6/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Investment | Single Family or Duplex | High Cash Flow Potential Flexible-use property recently renting for $1,450/month with low taxes -- strong cash flow from day one. Operate as a duplex or single family. Both units feature spacious kitchens with solid cabinet space and natural woodwork throughout. Off-street parking with alley access. Needs TLC -- priced to reflect. Bring your vision and add instant equity.

Key facts

• Natural woodwork
• Spacious kitchens
• Off-street parking

Tags

• HIGH CASH FLOW POTENTIAL
• FLEXIBLE-USE PROPERTY
• SPACIOUS KITCHENS
• SOLID CABINET SPACE
• NATURAL WOODWORK
• OFF-STREET PARKING

Property features AI

Exterior

• Parking: One off-street parking space; Two-car garage
• Utilities: Municipal water; Municipal sewer
• Home design: Single-family home; 1.5-story design; Less than 1/2 acre lot (approximately 0.09 acre); Zoned RT4
• Construction: Information source lists year built (assessor/public record)
• Exterior features: Vinyl exterior

Interior

• Kitchen: Kitchen on main level (12 x 11)
• Bedrooms: Main-level primary bedroom (11 x 10); Upper-level bedroom/kitchen area (11 x 10)
• Bathrooms: Two full bathrooms
• Heating & cooling: Radiant / hot water heating; Natural gas as heat source
• Interior features: Full basement; Shower over tub

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $97k.

Deal economics

• At list price, monthly cash flow is $397 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $97k).
• Cap rate 11.2% 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; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 $1,293/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 $10k of equity ($671 loan paydown + $10k 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 $27k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 12 sale attempts since 14y 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: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $97,000

Questions for the listing agent

1. Built in 1890 — 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 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: 1.33% ✓
• Cap rate: 11.21%
• Cash-on-cash: 17.55%
• DSCR: 1.78
• GRM: 6.3

CMA / ARV

• ARV (median comp): $67,226
• List price: $97,000
• Delta: 44.29%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2638 N 22nd St	0.37mi	4/2.0 (+1)	1,687 (+4%)	3mo	$55,000	$33	68
2245 N 16th St #2247	0.27mi	4/2.0 (+1)	1,521 (-6%)	15mo	$40,000	$26	60
2848 N 19th St	0.63mi	4/2.0 (+1)	1,650 (+2%)	3mo	$60,000	$36	59
2747 N 16th St Unit 2747A	0.54mi	4/2.0 (+1)	1,596 (-1%)	18mo	$45,000	$28	53
2828 W Meinecke Ave Unit 2828A	0.60mi	4/2.0 (+1)	1,636 (+1%)	23mo	$4,900	$3	45
2926 N 17th St Unit 2926A	0.74mi	3/2.0	1,575 (-2%)	20mo	$55,000	$35	45
2741 N 25th St	0.62mi	4/2.0 (+1)	1,713 (+6%)	15mo	$75,000	$44	44

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: 39.8%
• Equity multiple: 4.13×
• Total profit: $84,946
• Equity at exit: $87,385

10-year hold

• IRR: 36.2%
• Equity multiple: 10.10×
• Total profit: $247,166
• Equity at exit: $188,450

Cash invested: $27,160 (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: 6.3×

Monthly cashflow live

• Estimated rent: $1,293 high
• Mortgage (P&I): −$509
• Tax from tax record: −$75 /mo · $900/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $397

Break-even live

Break-even rent $790

Max offer price $97,000

Occupancy floor 64%

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: $24,250
• Closing costs: $2,910
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2308 W Clarke St Milwaukee, WI	4.0	2.0	1545	$1,750	$1.13	23d	1	0.34mi
2119 W Brown St Milwaukee, WI	3.0	1.0	1754	$995	$0.57	3d	1	0.42mi
2809 W Clarke St Unit 12811 Milwaukee, WI	3.0	1.0	1400	$1,200	$0.86	17d	1	0.62mi
2765 N 26th St Unit 2 Milwaukee, WI	2.0	1.0	1100	$1,100	$1.00	4d	1	0.66mi
2765 N 26th St Unit 1 Milwaukee, WI	3.0	1.0	1125	$1,200	$1.07	4d	1	0.66mi
2201 N 32nd St Unit 2201 Milwaukee, WI	3.0	1.0	1100	$1,195	$1.09	16d	1	0.84mi
2870 N 29th St #2872 Milwaukee, WI	3.0	1.0	1300	$1,250	$0.96	44d	1	0.86mi
3100 W Center St Milwaukee, WI	3.0	2.0	1174	$1,531	$1.30	1d	1	0.88mi
912 W Hadley St Milwaukee, WI	2.0	1.0	2222	$1,250	$0.56	14d	1	0.92mi
2931 W Chambers St Milwaukee, WI	2.0	1.0	1400	$1,050	$0.75	23d	1	1.01mi
3045 N 11th St #3047 Milwaukee, WI	3.0	1.0	1065	$1,175	$1.10	4d	1	1.05mi
2419 W McKinley Ave Milwaukee, WI	2.0	1.0	1852	$1,200	$0.65	44d	1	1.07mi
1639 N 33rd St Milwaukee, WI	3.0	1.0	1424	$950	$0.67	23d	1	1.11mi
1239 N 26th St Unit 1 Milwaukee, WI	3.0	1.0	1300	$1,400	$1.08	44d	1	1.14mi
1239 N 26th St Unit 1 Milwaukee, WI	3.0	1.0	1300	$1,400	$1.08	44d	1	1.14mi
1515 N 32nd St Unit 1515 Milwaukee, WI	3.0	1.0	1200	$1,245	$1.04	4d	1	1.15mi
2478-2480 W Juneau Ave Unit 2478 Milwaukee, WI	4.0	1.0	1375	$1,495	$1.09	23d	1	1.15mi
1303 N 10th St Milwaukee, WI	3.0	1.0–2.0	797	$2,990	$3.75	2d	26	1.22mi
2403-2405 N 39th St Unit 2403 Lower Milwaukee, WI	3.0	1.0	1200	$995	$0.83	10d	1	1.24mi
2403-2405 N 39th St Unit 2405 Upper Milwaukee, WI	3.0	1.0	1141	$995	$0.87	10d	1	1.25mi
2001 N 38th St #2003 Milwaukee, WI	3.0	1.0	1326	$950	$0.72	2d	1	1.25mi
3025 N 6th St Milwaukee, WI	2.0	1.0	1153	$1,125	$0.98	44d	1	1.27mi
1116 N 13th St Milwaukee, WI	3.0	1.0	1400	$1,345	$0.96	14d	1	1.28mi
901 W Winnebago St Milwaukee, WI	1.0–3.0	1.0–2.0	1359	$2,629	$1.93	2d	10	1.28mi
3124 N 33rd St Milwaukee, WI	2.0	1.0	1200	$1,200	$1.00	44d	1	1.28mi
2821 W Concordia Ave Milwaukee, WI	3.0	1.5	1098	$1,595	$1.45	2d	1	1.30mi
3416 N 17th St Unit 1 Milwaukee, WI	3.0	1.0	1200	$1,100	$0.92	44d	1	1.32mi
2251 N 41st St Unit Lower Milwaukee, WI	3.0	1.0	1187	$1,198	$1.01	14d	1	1.37mi
3388 N 27th St Unit 3388 Front House Milwaukee, WI	4.0	1.0	1212	$1,550	$1.28	4d	1	1.39mi
2719 N 1st St Milwaukee, WI	2.0	1.0	1300	$1,095	$0.84	14d	1	1.41mi
2106A W Keefe Ave Unit 2106 Lower Milwaukee, WI	3.0	1.0	1300	$1,100	$0.85	17d	1	1.42mi
2110 N Palmer St Milwaukee, WI	2.0	1.0	1100	$1,985	$1.80	4d	1	1.47mi

Listing history 43 events

1. 2026-06-18
   days on market $97,000 Active 7 DOM
2. 2026-06-17
   days on market $97,000 Active 6 DOM
3. 2026-06-16
   days on market $97,000 Active 5 DOM
4. 2026-06-15
   days on market $97,000 Active 4 DOM
5. 2026-06-13
   days on market $97,000 Active 2 DOM
6. 2026-06-13
   days on marketlisting id $97,000 Active 1 DOM
7. 2026-06-09
   days on market $97,000 Active 29 DOM
8. 2026-06-08
   days on market $97,000 Active 28 DOM
9. 2026-06-07
   days on market $97,000 Active 27 DOM
10. 2026-06-05
    days on market $97,000 Active 24 DOM
11. 2026-06-03
    pricedays on market $97,000 Active 23 DOM

    Show marketing remark (413 chars)

    Investment | Single Family or Duplex | High Cash Flow Potential Flexible-use property recently renting for $1,450/month with low taxes -- strong cash flow from day one. Operate as a duplex or single family. Both units feature spacious kitchens with solid cabinet space and natural woodwork throughout. Off-street parking with alley access. Needs TLC -- priced to reflect. Bring your vision and add instant equity.

12. 2026-06-02
    days on market $100,000 Active 22 DOM
13. 2026-06-01
    days on market $100,000 Active 21 DOM
14. 2026-05-31
    days on market $100,000 Active 20 DOM
15. 2026-05-07
    listed $100,000 Active 413-char remark

    Show marketing remark (413 chars)

    Investment | Single Family or Duplex | High Cash Flow Potential Flexible-use property recently renting for $1,450/month with low taxes -- strong cash flow from day one. Operate as a duplex or single family. Both units feature spacious kitchens with solid cabinet space and natural woodwork throughout. Off-street parking with alley access. Needs TLC -- priced to reflect. Bring your vision and add instant equity.

16. 2023-05-31
    soldstatus $100,000
17. 2021-07-01
    soldstatus $160,000
18. 2021-06-03
    soldstatus $256,000
19. 2020-04-14
    historical 70-char remark

    Show marketing remark (70 chars)

    This is a tax foreclosed property. Offers can be submitted at anytime.

20. 2020-04-10
    soldstatus $5,000 Sold 70-char remark

    Show marketing remark (70 chars)

    This is a tax foreclosed property. Offers can be submitted at anytime.

21. 2020-01-23
    listed $13,900 Active 70-char remark

    Show marketing remark (70 chars)

    This is a tax foreclosed property. Offers can be submitted at anytime.

22. 2019-06-20
    historical
23. 2019-02-15
    status Active
24. 2019-01-14
    historical Contingent
25. 2018-12-21
    listed $25,000 Active
26. 2017-04-01
    historical
27. 2017-02-09
    price $15,000
28. 2017-02-09
    status Active
29. 2017-02-01
    historical
30. 2016-12-29
    price $19,900
31. 2016-03-28
    listed $25,000 Active
32. 2016-02-29
    historical
33. 2015-09-01
    listed $25,000 Active
34. 2012-02-17
    listed $49,900
35. 2012-02-17
    historical
36. 2012-01-21
    historical
37. 2012-01-21
    listed $49,900
38. 2012-01-21
    listed $64,900
39. 2012-01-21
    historical
40. 2012-01-21
    historical
41. 2012-01-21
    listed $68,000
42. 2008-07-15
    soldstatus $49,900
43. 1983-08-01
    soldstatus $22,500

ⓘ 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: $900 · $75/mo
• Projected year-2 tax: $1,347 · $112/mo
• Expected delta: +$447/yr (+$37/mo · 49.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 10% 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: $15,513
• − Mortgage interest: −$5,434
• − Property taxes: −$900
• − Insurance: −$485
• − Repairs & maintenance: −$1,241
• − Management: −$1,241
• − Depreciation: −$2,822
• Taxable income: $3,390
• Est. tax owed @ 24.0%: −$814
• After-tax cash flow: $3,952/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

+331.1% since first listed

32 events — show timeline

• 2026-06-11 Listing Removed — METROMLS
• 2026-06-11 Listed $97,000 METROMLS
• 2026-06-03 Price Changed $97,000 METROMLS
• 2026-05-07 Listed $100,000 METROMLS
• 2023-05-31 Sold (Public Records) $100,000 Public Records
• 2021-07-01 Sold (Public Records) $160,000 Public Records
• 2021-06-03 Sold (Public Records) $256,000 Public Records
• 2020-04-14 Listing Removed — METROMLS
• 2020-04-10 Sold (MLS) $5,000 METROMLS
• 2020-01-23 Listed $13,900 METROMLS
• 2019-06-20 Listing Removed — METROMLS
• 2019-02-15 Relisted — METROMLS
• 2019-01-14 Contingent — METROMLS
• 2018-12-21 Listed $25,000 METROMLS
• 2017-04-01 Listing Removed — METROMLS
• 2017-02-09 Price Changed $15,000 METROMLS
• 2017-02-09 Relisted — METROMLS
• 2017-02-01 Listing Removed — METROMLS
• 2016-12-29 Price Changed $19,900 METROMLS
• 2016-03-28 Listed $25,000 METROMLS
• 2016-02-29 Listing Removed — METROMLS
• 2015-09-01 Listed $25,000 METROMLS
• 2012-02-17 Listed $49,900 METROMLS
• 2012-02-17 Listing Removed — METROMLS
• 2012-01-21 Listing Removed — METROMLS
• 2012-01-21 Listed $49,900 METROMLS
• 2012-01-21 Listed $64,900 METROMLS
• 2012-01-21 Listing Removed — METROMLS
• 2012-01-21 Listed $68,000 METROMLS
• 2012-01-21 Listing Removed — METROMLS
• 2008-07-15 Sold (MLS) $49,900 METROMLS
• 1983-08-01 Sold (Public Records) $22,500 Public Records

Property tax history

-4.9%/yr

Latest (2024): $900 · +36.4% YoY. Source: county tax records.