3624 N 24th Pl · Milwaukee, WI 53206

$64,600

3 bd · 1.0 ba · 910 sqft · SingleFamily public records · 8 Days on market

Built 1920 2,613 sqft lot $71/sqft · 37% below area Est $102k · 37% under

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Why this score? — see what drove the A 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 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 tax foreclosed property. For the first 30-days of the listing period, no offers below the listing price will be considered per Wisconsin Foreclosure Law. Owner Occupants ONLY. BIDS DUE May 18th, 2026 AT 10:00am

Key facts

• 2,613 sq ft lot
• Built 1920
• Listed 8 days

Property features AI

Exterior

• Utilities: Municipal water; Municipal sewer
• Home design: Single-family home; One-story
• Construction: Aluminum/steel exterior components; Year built information from assessor/public record
• Exterior features: Aluminum and vinyl siding; Lot under 1/2 acre (approx. 0.06 acre)

Interior

• Kitchen: Kitchen on the main level, approximately 10 x 10
• Bedrooms: Master bedroom on the main level, approximately 10 x 10
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas fuel
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $321 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Cap rate 12.3% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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).
• This rent runs 44% of the median local income ($29k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $7k of equity ($447 loan paydown + $6k 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 $18k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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: property tax is 3.1% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $64,600

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 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: 1.68% ✓
• Cap rate: 12.26%
• Cash-on-cash: 21.30%
• DSCR: 1.95
• GRM: 5.0

CMA / ARV

• ARV (median comp): $102,238
• List price: $64,600
• Delta: -36.81%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3513 N 25th St	0.13mi	3/1.0	888 (-2%)	12mo	$92,000	$104	80
3717 N 27th St	0.21mi	2/1.0 (-1)	912 (+0%)	9mo	$51,500	$56	78
3429 N 20th St	0.35mi	3/1.0	916 (+1%)	13mo	$62,500	$68	72
3750 N 27th St	0.21mi	2/1.0 (-1)	826 (-9%)	8mo	$44,000	$53	64
3047 N 22nd St	0.70mi	2/1.0 (-1)	898 (-1%)	1mo	$26,000	$29	59
3941 N 30th St	0.48mi	3/1.0	974 (+7%)	14mo	$139,900	$144	54
1701 W Keefe Ave	0.59mi	2/1.0 (-1)	980 (+8%)	1mo	$130,000	$133	54
3841 N 19th Pl	0.42mi	2/1.0 (-1)	792 (-13%)	7mo	$55,000	$69	48
4238 N 28th St	0.69mi	3/1.0	957 (+5%)	17mo	$105,000	$110	45
4239 N 29th St	0.73mi	3/1.0	998 (+10%)	13mo	$90,000	$90	40
3710 N 36th St	0.75mi	3/1.0	980 (+8%)	18mo	$124,900	$127	37
3606 N 36th St	0.75mi	3/1.0	1,032 (+13%)	10mo	$150,000	$145	34

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: 43.3%
• Equity multiple: 4.40×
• Total profit: $61,426
• Equity at exit: $58,197

10-year hold

• IRR: 39.7%
• Equity multiple: 10.90×
• Total profit: $179,138
• Equity at exit: $125,504

Cash invested: $18,088 (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: 5.0×

Monthly cashflow live

• Estimated rent: $1,084 high
• Mortgage (P&I): −$339
• Tax from tax record: −$169 /mo · $2,032/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $321

Break-even live

Break-even rent $677

Max offer price $64,600

Occupancy floor 65%

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: $16,150
• Closing costs: $1,938
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3410 N 23rd St Milwaukee, WI	2.0	1.0	800	$800	$1.00	17d	1	0.21mi
3901 N 27th St Unit 3907 Milwaukee, WI	2.0	1.0	715	$895	$1.25	24d	1	0.34mi
3911 N 20th St Unit 3913 Milwaukee, WI	2.0	1.0	950	$995	$1.05	24d	1	0.41mi
3347 N 29th St Unit 3347A Milwaukee, WI	2.0	1.0	950	$845	$0.89	15d	1	0.44mi
3646 N 19th St Milwaukee, WI	2.0	1.0	935	$1,100	$1.18	4d	1	0.44mi
2821 W Concordia Ave Milwaukee, WI	3.0	1.5	1098	$1,595	$1.45	2d	1	0.47mi
3927-3929 N 17th St Milwaukee, WI	2.0	1.0	900	$1,195	$1.33	44d	1	0.62mi
4227 N 26th St Milwaukee, WI	2.0	1.0	950	$1,000	$1.05	17d	1	0.67mi
3039 N 24th Pl Unit 3039 Milwaukee, WI	2.0	1.0	800	$995	$1.24	16d	1	0.67mi
2945 N 23rd St Milwaukee, WI	3.0	1.0	1014	$1,195	$1.18	44d	1	0.80mi
3630 W Nash St Milwaukee, WI	2.0	1.0	1000	$1,200	$1.20	24d	1	0.83mi
3871-3873 N 36th St Unit 3871 Milwaukee, WI	2.0	1.0	987	$950	$0.96	24d	1	0.83mi
3298 N 13th St Milwaukee, WI	3.0	1.0	885	$895	$1.01	44d	1	0.88mi
2955 N 17th St Unit B UPSTAIRS Milwaukee, WI	2.0	1.0	1000	$900	$0.90	17d	1	0.89mi
4355 N 28th St Milwaukee, WI	2.0	1.0	1118	$975	$0.87	21d	1	0.90mi
1326 W Burleigh St Unit 1326 Lower Milwaukee, WI	2.0	1.0	900	$825	$0.92	2d	1	0.96mi
2517 W Hadley St Milwaukee, WI	2.0	1.0	850	$1,050	$1.24	15d	1	1.01mi
2765 N 26th St Unit 1 Milwaukee, WI	3.0	1.0	1125	$1,200	$1.07	4d	1	1.03mi
2765 N 26th St Unit 2 Milwaukee, WI	2.0	1.0	1100	$1,100	$1.00	4d	1	1.03mi
2741 N 23rd St Unit 2 Milwaukee, WI	3.0	1.0	1000	$1,100	$1.10	17d	1	1.05mi
2741 N 23rd St Milwaukee, WI	3.0	1.0	900	$1,050	$1.17	15d	1	1.05mi
3606 N 41st St Unit 3608 Milwaukee, WI	2.0	1.0	1095	$975	$0.89	44d	1	1.06mi
3148 N 39th St Milwaukee, WI	2.0	1.0	1100	$1,100	$1.00	44d	1	1.09mi
3148 N 39th St Unit 1 Milwaukee, WI	2.0	1.0	1000	$1,100	$1.10	15d	1	1.09mi
2866 N 34th St Unit 2866 Milwaukee, WI	3.0	1.0	534	$1,095	$2.05	4d	1	1.10mi
2866 N 34th St Unit 2866A Milwaukee, WI	2.0	1.0	534	$895	$1.68	44d	1	1.10mi
3045 N 11th St #3047 Milwaukee, WI	3.0	1.0	1065	$1,175	$1.10	4d	1	1.12mi
3058 N 11th St Unit 3058 Lower Milwaukee, WI	2.0	1.0	840	$945	$1.12	24d	1	1.12mi
3214 N 41st St Milwaukee, WI	2.0	1.0	900	$1,250	$1.39	44d	1	1.16mi
3925 N 42nd St Milwaukee, WI	2.0	1.0	985	$1,400	$1.42	24d	1	1.19mi
2630 N 24th St Milwaukee, WI	2.0	1.0	934	$1,450	$1.55	20d	1	1.19mi
3890 N Sherman Blvd Milwaukee, WI	2.0	1.0	950	$1,100	$1.16	12d	1	1.23mi
4048 N 7th St Milwaukee, WI	2.0	1.0	1100	$1,150	$1.05	24d	1	1.28mi
3908 N 6th St Milwaukee, WI	2.0	1.0	1100	$1,150	$1.05	24d	1	1.30mi
3340 N 44th St Milwaukee, WI	2.0	1.0	900	$1,295	$1.44	12d	1	1.30mi
2646 N 34th St Unit 2646A Upper Milwaukee, WI	2.0	1.0	609	$895	$1.47	24d	1	1.34mi
2530 N 28th St Unit 2530 Lower Milwaukee, WI	2.0	1.0	764	$995	$1.30	15d	1	1.34mi
4572 N 38th St Unit 2 Milwaukee, WI	2.0	1.0	600	$950	$1.58	44d	1	1.43mi
3600 N Vel R. Phillips Ave Milwaukee, WI	2.0	1.0	900	$950	$1.06	4d	1	1.43mi
2706 N 39th St Unit 2706 Milwaukee, WI	2.0	1.0	866	$845	$0.98	44d	1	1.45mi

Listing history 7 events

1. 2026-06-18
   days on market $64,600 Active 8 DOM
2. 2026-06-17
   days on market $64,600 Active 7 DOM
3. 2026-06-16
   days on market $64,600 Active 6 DOM
4. 2026-06-15
   days on market $64,600 Active 5 DOM
5. 2026-06-13
   days on market $64,600 Active 3 DOM
6. 2026-06-13
   statusdays on marketlisting id $64,600 Active 2 DOM
7. 2026-04-13
   listed $64,600 Active 220-char remark

   Show marketing remark (220 chars)

   This is a tax foreclosed property. For the first 30-days of the listing period, no offers below the listing price will be considered per Wisconsin Foreclosure Law. Owner Occupants ONLY. BIDS DUE May 18th, 2026 AT 10:00am

ⓘ 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: $2,032 · $169/mo
• Projected year-2 tax: $2,032 · $169/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 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: $13,003
• − Mortgage interest: −$3,619
• − Property taxes: −$2,032
• − Insurance: −$323
• − Repairs & maintenance: −$1,040
• − Management: −$1,040
• − Depreciation: −$1,879
• Taxable income: $3,070
• Est. tax owed @ 24.0%: −$737
• After-tax cash flow: $3,116/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

+0.0% since first listed

3 events — show timeline

• 2026-06-10 Listed $64,600 METROMLS
• 2026-05-20 Listing Removed — METROMLS
• 2026-04-13 Listed $64,600 METROMLS

Property tax history

+12.6%/yr

Latest (2024): $2,032 · +196.3% YoY. Source: county tax records.