3624 N 24th Pl · Milwaukee, WI 53206

$48,450

3 bd · 1.0 ba · 910 sqft · SingleFamily public records · 59 Days on market

Built 1920 Fair condition 2,613 sqft lot $53/sqft · 53% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.6/5.0
• Livability +4.0/5.0
• Schools +3.6/10.0
• Condition / age +2.2/5.0

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.

Key facts

• 2,613 sq ft lot
• Built 1920
• Listed 58 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $48k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $416 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $48k).
• Recommended offer: $47k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.6% vs local median 4.9% 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); 205 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 64d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 78% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• This rent runs 45% 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 $5k of equity ($334 loan paydown + $5k 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 $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($47k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $16k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 4.2% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $46,996 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 2.25% ✓
• Cap rate: 16.60%
• Cash-on-cash: 36.80%
• DSCR: 2.64
• GRM: 3.7

CMA / ARV

• ARV (median comp): $102,238
• List price: $48,450
• 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%)	13mo	$92,000	$104	79
3717 N 27th St	0.21mi	2/1.0 (-1)	912 (+0%)	10mo	$51,500	$56	76
3429 N 20th St	0.35mi	3/1.0	916 (+1%)	14mo	$62,500	$68	71
3750 N 27th St	0.21mi	2/1.0 (-1)	826 (-9%)	9mo	$44,000	$53	62
3047 N 22nd St	0.70mi	2/1.0 (-1)	898 (-1%)	3mo	$26,000	$29	58
3941 N 30th St	0.48mi	3/1.0	974 (+7%)	15mo	$139,900	$144	53
1701 W Keefe Ave	0.59mi	2/1.0 (-1)	980 (+8%)	3mo	$130,000	$133	52
3723 N 17th St #3725	0.56mi	3/1.0	1,040 (+14%)	0mo	$26,100	$25	50
3841 N 19th Pl	0.42mi	2/1.0 (-1)	792 (-13%)	8mo	$55,000	$69	47
3207 W Auer Ave	0.74mi	3/1.0	1,008 (+11%)	1mo	$127,500	$126	46
4239 N 29th St	0.73mi	3/1.0	998 (+10%)	14mo	$90,000	$90	38
3606 N 36th St	0.75mi	3/1.0	1,032 (+13%)	12mo	$150,000	$145	33

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: 56.5%
• Equity multiple: 5.33×
• Total profit: $58,717
• Equity at exit: $43,648

10-year hold

• IRR: 52.4%
• Equity multiple: 13.27×
• Total profit: $166,486
• Equity at exit: $94,128

Cash invested: $13,566 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 13 active · 15 under contract
• Months of supply: 4.9 mo (21%/mo absorbed)
• Median asking: $63,700 ($73/sqft)
• Median days on market: 72 d
• This list price: 38% of active listings are priced below it
• ARV vs active asking: +53.8% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 53206

• Rents YoY: 8.3%
• Active inventory: 205
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,088 high
• Mortgage (P&I): −$254
• Tax from tax record: −$169 /mo · $2,032/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $416

Break-even live

Break-even rent $561

Max offer price $48,450

Occupancy floor 57%

Sensitivity live

Price	-10% $443	-5% $430	+0% $416	+5% $402	+10% $389
Rent	-10% $330	-5% $373	+0% $416	+5% $459	+10% $502
Rate	-1.0pp $440	-0.5pp $428	base $416	+0.5pp $403	+1.0pp $391

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: $12,112
• Closing costs: $1,454
• Club membership (one-time): —
• 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	66d	1	0.21mi
3901 N 27th St Unit 3907 Milwaukee, WI	2.0	1.0	715	$895	$1.25	72d	1	0.34mi
3377 N 28th St Unit 1 Milwaukee, WI	2.0	1.0	950	$1,100	$1.16	47d	1	0.37mi
3911 N 20th St Unit 3913 Milwaukee, WI	2.0	1.0	950	$995	$1.05	72d	1	0.41mi
3347 N 29th St Unit 3347A Milwaukee, WI	2.0	1.0	950	$845	$0.89	63d	1	0.44mi
3646 N 19th St Milwaukee, WI	2.0	1.0	935	$1,100	$1.18	53d	1	0.44mi
2821 W Concordia Ave Milwaukee, WI	3.0	1.5	1098	$1,595	$1.45	51d	1	0.47mi
3954 N 20th St Milwaukee, WI	2.0	1.0	1000	$1,400	$1.40	30d	1	0.47mi
3221 N 20th St Unit 3221A Milwaukee, WI	3.0	1.0	909	$1,045	$1.15	41d	1	0.53mi
3927-3929 N 17th St Milwaukee, WI	2.0	1.0	900	$1,195	$1.33	93d	1	0.62mi
4227 N 26th St Milwaukee, WI	2.0	1.0	950	$1,000	$1.05	66d	1	0.67mi
3039 N 24th Pl Unit 3039 Milwaukee, WI	2.0	1.0	800	$945	$1.18	20d	1	0.67mi
4252 N Teutonia Ave Apt 102 Milwaukee, WI	2.0	1.0	900	$1,338	$1.49	20d	1	0.72mi
3822 N 36th St #3824 Milwaukee, WI	2.0	1.0	754	$875	$1.16	34d	1	0.78mi
2945 N 23rd St Milwaukee, WI	3.0	1.0	1014	$1,195	$1.18	93d	1	0.80mi
3266 N 35th St Unit 3266 Milwaukee, WI	2.0	1.0	998	$975	$0.98	11d	1	0.80mi
3630 W Nash St Milwaukee, WI	2.0	1.0	1000	$1,200	$1.20	72d	1	0.83mi
3871-3873 N 36th St Unit 3871 Milwaukee, WI	2.0	1.0	987	$950	$0.96	72d	1	0.83mi
1304 W Ring St Unit 1 Milwaukee, WI	3.0	1.0	1000	$1,100	$1.10	36d	1	0.88mi
3298 N 13th St Milwaukee, WI	3.0	1.0	885	$895	$1.01	93d	1	0.88mi
2955 N 17th St Unit B UPSTAIRS Milwaukee, WI	2.0	1.0	1000	$900	$0.90	66d	1	0.89mi
4355 N 28th St Milwaukee, WI	2.0	1.0	1118	$975	$0.87	70d	1	0.90mi
1326 W Burleigh St Unit 1326 Lower Milwaukee, WI	2.0	1.0	900	$825	$0.92	51d	1	0.96mi
2517 W Hadley St Milwaukee, WI	2.0	1.0	850	$1,050	$1.24	63d	1	1.01mi
2765 N 26th St Unit 1 Milwaukee, WI	3.0	1.0	1125	$1,200	$1.07	53d	1	1.03mi
2765 N 26th St Unit 2 Milwaukee, WI	2.0	1.0	1100	$1,100	$1.00	53d	1	1.03mi
4378 N 17th St Milwaukee, WI	2.0	1.0	800	$990	$1.24	28d	1	1.05mi
2741 N 23rd St Unit 2 Milwaukee, WI	3.0	1.0	1000	$1,100	$1.10	66d	1	1.05mi
2741 N 23rd St Milwaukee, WI	3.0	1.0	900	$1,050	$1.17	63d	1	1.05mi
3606 N 41st St Unit 3608 Milwaukee, WI	2.0	1.0	1095	$975	$0.89	93d	1	1.06mi
3148 N 39th St Milwaukee, WI	2.0	1.0	1100	$1,100	$1.00	93d	1	1.09mi
3148 N 39th St Unit 1 Milwaukee, WI	2.0	1.0	1000	$1,100	$1.10	63d	1	1.09mi
3179 N 39th St Unit 3179 Milwaukee, WI	2.0	1.0	1000	$1,050	$1.05	27d	1	1.10mi
2866 N 34th St Unit 2866A Milwaukee, WI	2.0	1.0	534	$795	$1.49	16d	1	1.10mi
2866 N 34th St Unit 2866 Milwaukee, WI	2.0	1.0	534	$825	$1.54	11d	1	1.10mi
3045 N 11th St #3047 Milwaukee, WI	3.0	1.0	1065	$995	$0.93	25d	1	1.12mi
3058 N 11th St Unit 3058 Lower Milwaukee, WI	2.0	1.0	840	$945	$1.12	20d	1	1.12mi
3214 N 41st St Milwaukee, WI	2.0	1.0	900	$1,250	$1.39	93d	1	1.16mi
4207 N 39th St Unit 4207 Milwaukee, WI	2.0	1.0	825	$1,095	$1.33	34d	1	1.18mi
3925 N 42nd St Milwaukee, WI	2.0	1.0	985	$1,400	$1.42	72d	1	1.19mi

Property features AI

Exterior

• Utilities: Municipal waterMunicipal sewer
• Home design: Single-family homeOne-story
• Construction: Aluminum/steel exterior componentsYear built information from assessor/public record
• Exterior features: Aluminum and vinyl sidingLot 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 heatingNatural gas fuel
• Interior features: Full basement

Listing history 47 events

1. 2026-08-08
   days on market $48,450 Active 59 DOM
2. 2026-08-07
   days on market $48,450 Active 58 DOM
3. 2026-08-06
   days on market $48,450 Active 57 DOM
4. 2026-08-05
   days on market $48,450 Active 56 DOM
5. 2026-08-04
   days on market $48,450 Active 55 DOM
6. 2026-08-03
   pricedays on market $48,450 Active 54 DOM
7. 2026-07-31
   days on market $64,600 Active 51 DOM
8. 2026-07-30
   days on market $64,600 Active 50 DOM
9. 2026-07-30
   days on market $64,600 Active 49 DOM
10. 2026-07-28
    days on market $64,600 Active 48 DOM
11. 2026-07-26
    days on market $64,600 Active 46 DOM
12. 2026-07-24
    days on market $64,600 Active 44 DOM
13. 2026-07-23
    days on market $64,600 Active 43 DOM
14. 2026-07-22
    days on market $64,600 Active 42 DOM
15. 2026-07-21
    days on market $64,600 Active 41 DOM
16. 2026-07-20
    days on market $64,600 Active 40 DOM
17. 2026-07-18
    days on market $64,600 Active 38 DOM
18. 2026-07-18
    days on market $64,600 Active 37 DOM
19. 2026-07-16
    days on market $64,600 Active 36 DOM
20. 2026-07-15
    days on market $64,600 Active 35 DOM
21. 2026-07-14
    days on market $64,600 Active 34 DOM
22. 2026-07-13
    days on market $64,600 Active 33 DOM
23. 2026-07-13
    days on market $64,600 Active 32 DOM
24. 2026-07-11
    days on market $64,600 Active 31 DOM
25. 2026-07-10
    days on market $64,600 Active 30 DOM
26. 2026-07-09
    days on market $64,600 Active 29 DOM
27. 2026-07-07
    days on market $64,600 Active 27 DOM
28. 2026-07-06
    days on market $64,600 Active 26 DOM
29. 2026-07-05
    days on market $64,600 Active 25 DOM
30. 2026-07-03
    days on market $64,600 Active 23 DOM
31. 2026-07-02
    days on market $64,600 Active 22 DOM
32. 2026-07-01
    days on market $64,600 Active 21 DOM
33. 2026-06-30
    days on market $64,600 Active 20 DOM
34. 2026-06-29
    days on market $64,600 Active 19 DOM
35. 2026-06-28
    days on market $64,600 Active 18 DOM
36. 2026-06-27
    days on market $64,600 Active 17 DOM
37. 2026-06-27
    days on market $64,600 Active 16 DOM
38. 2026-06-25
    days on market $64,600 Active 14 DOM
39. 2026-06-22
    days on market $64,600 Active 12 DOM
40. 2026-06-21
    days on market $64,600 Active 11 DOM
41. 2026-06-18
    days on market $64,600 Active 8 DOM
42. 2026-06-17
    days on market $64,600 Active 7 DOM
43. 2026-06-16
    days on market $64,600 Active 6 DOM
44. 2026-06-15
    days on market $64,600 Active 5 DOM
45. 2026-06-13
    days on market $64,600 Active 3 DOM
46. 2026-06-13
    statusdays on marketlisting id $64,600 Active 2 DOM
47. 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: $13,057
• − Mortgage interest: −$2,714
• − Property taxes: −$2,032
• − Insurance: −$242
• − Repairs & maintenance: −$1,045
• − Management: −$1,045
• − Depreciation: −$1,409
• Taxable income: $4,571
• Est. tax owed @ 24.0%: −$1,097
• After-tax cash flow: $3,895/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.

Condition & rehab AI · 2 photos

Fair 45/100 Moderate rehab Est. rehab $22,750–$40,950 screening

This property requires moderate repairs, particularly to the roof and exterior siding, to improve its condition and value.

Repairs flagged

• Major roof — Significant wear and tear visible.
• Moderate exterior siding — Some discoloration and wear present.

Value-add opportunities

• Both repair roof — A repaired roof will improve both the resale and rental value. ↑
• Both paint exterior siding — Fresh paint will enhance curb appeal and property value. ↑
• Both update interior paint and fixtures — Fresh paint and updated fixtures will attract more buyers/renters. ↑
• Both landscaping — Well-maintained landscaping will improve curb appeal and property value. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 36/100

Zoned Schools

High King International F WI #138/483 Nat'l #9,405/17,239

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

A Composite livability gradescore 81/100

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 · 995,758 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: 21% of renters

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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%

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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%

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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

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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

Property features AI

Exterior

• Utilities: Municipal waterMunicipal sewer
• Home design: Single-family homeOne-story
• Construction: Aluminum/steel exterior componentsYear built information from assessor/public record
• Exterior features: Aluminum and vinyl sidingLot 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 heatingNatural gas fuel
• Interior features: Full basement

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.