4850 N 24th Pl · Milwaukee, WI 53209

$139,900

4 bd · 1.0 ba · 1,344 sqft · SingleFamily public records · 48 Days on market

Built 1946 5,662 sqft lot $104/sqft · at area comps Est $144k · at est.

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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 +27.8/30.0
• DSCR +9.8/10.0
• ARV discount +8.8/15.0
• 1% rule +7.8/10.0
• Rent growth +4.7/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * * Motivated Seller * * * Property is tenant occupied. Currently rented for $900 monthly.

Key facts

• Bright kitchen
• Spacious yard
• Functional layout

Tags

• FUNCTIONAL LAYOUT
• BRIGHT KITCHEN
• AMPLE STORAGE
• SPACIOUS YARD
• CONVENIENTLY LOCATED

Property features AI

Exterior

• Parking: Detached 2-car garage (2 garage parking spaces)
• Utilities: Municipal water; Municipal sewer
• Home design: Single-family, one-story home; Zoned RES
• Construction: Less than 1/2 acre lot (approx. 0.13 acre)
• Exterior features: Sidewalks

Interior

• Kitchen: Oven; Range; Refrigerator
• Bedrooms: Master bedroom, main level, about 14 x 15; Bedroom 2, main level, about 16 x 11; Bedroom 3, main level, about 11 x 10
• Bathrooms: 1 full bathroom
• Heating & cooling: Heating/cooling: Other (see remarks)
• Interior features: Full basement with block construction

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $426 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.9% 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 (+8.6%/yr); 168 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• This rent runs 44% of the median local income ($48k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Milwaukee County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $39k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 13y 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 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $135,703 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.28% ✓
• Cap rate: 9.94%
• Cash-on-cash: 13.04%
• DSCR: 1.58
• GRM: 6.5

CMA / ARV

• ARV (median comp): $143,955
• List price: $139,900
• Delta: -2.82%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4624 N 29th St	0.43mi	4/1.0	1,398 (+4%)	3mo	$100,001	$72	71
4959 N 21st St	0.26mi	3/1.5 (-1)	1,293 (-4%)	4mo	$103,675	$80	71
3223 W Fairmount Ave	0.58mi	4/1.0	1,358 (+1%)	3mo	$124,000	$91	68
4633 N 30th St	0.50mi	4/1.0	1,407 (+5%)	1mo	$141,000	$100	68
4757 N 18th St	0.49mi	3/1.0 (-1)	1,371 (+2%)	1mo	$135,000	$98	68
4628 N 24th Pl	0.29mi	3/1.0 (-1)	1,436 (+7%)	3mo	$103,500	$72	67
4487 N 21st St	0.51mi	3/1.5 (-1)	1,384 (+3%)	3mo	$185,000	$134	62
4860 N 20th St	0.31mi	5/2.0 (+1)	1,488 (+11%)	0mo	$177,000	$119	58
4444 N 26th St	0.54mi	3/1.0 (-1)	1,472 (+10%)	2mo	$165,000	$112	52
2602 W Port Sunlight Way	0.57mi	3/1.5 (-1)	1,172 (-13%)	1mo	$190,000	$162	44
2417 W Roosevelt Dr	0.73mi	4/2.0	1,200 (-11%)	0mo	$194,900	$162	44
4401 N 25 St	0.59mi	3/1.0 (-1)	1,148 (-15%)	1mo	$60,000	$52	43

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 8.6%
• Equity multiple: 1.36×
• Total profit: $13,963
• Equity at exit: $20,860

10-year hold

• IRR: 21.8%
• Equity multiple: 3.31×
• Total profit: $90,419
• Equity at exit: $12,096

Cash invested: $39,172 (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 53209

• Rents YoY: 8.6%
• Active inventory: 168
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,796 high
• Mortgage (P&I): −$734
• Tax from tax record: −$201 /mo · $2,412/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $426

Break-even live

Break-even rent $1,257

Max offer price $139,900

Occupancy floor 71%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5032 N 32nd St Milwaukee, WI	3.0	2.0	1089	$1,750	$1.61	12d	1	0.53mi
2116 W Atkinson Ave Unit A Milwaukee, WI	4.0	1.0	1707	$2,000	$1.17	1d	1	1.01mi
5541 N 35th St #5543 Milwaukee, WI	3.0	1.0	1130	$1,195	$1.06	4d	1	1.10mi
4702 N 44th St Milwaukee, WI	3.0	2.0	1050	$1,850	$1.76	43d	1	1.27mi
4334 W Eggert Pl Milwaukee, WI	4.0	1.0	1077	$1,695	$1.57	23d	1	1.29mi
4340 W Eggert Pl Milwaukee, WI	4.0	1.0	1066	$1,695	$1.59	23d	1	1.30mi
4703 N 45th St Milwaukee, WI	3.0	1.0	1031	$1,695	$1.64	23d	1	1.36mi
5165-5167 N 45th St Unit 5165 Milwaukee, WI	3.0	1.0	1020	$1,200	$1.18	17d	1	1.38mi
4727 N 46th St Milwaukee, WI	3.0	1.0	936	$1,700	$1.82	43d	1	1.42mi

Listing history 27 events

1. 2026-06-18
   days on market $139,900 Active 48 DOM
2. 2026-06-17
   days on market $139,900 Active 47 DOM
3. 2026-06-16
   days on market $139,900 Active 46 DOM
4. 2026-06-15
   days on market $139,900 Active 45 DOM
5. 2026-06-13
   days on market $139,900 Active 43 DOM
6. 2026-06-13
   days on market $139,900 Active 42 DOM
7. 2026-06-09
   days on market $139,900 Active 39 DOM
8. 2026-06-08
   days on market $139,900 Active 38 DOM
9. 2026-06-07
   days on market $139,900 Active 37 DOM
10. 2026-06-05
    days on market $139,900 Active 34 DOM
11. 2026-06-03
    days on market $139,900 Active 33 DOM
12. 2026-06-02
    days on market $139,900 Active 32 DOM
13. 2026-06-01
    days on market $139,900 Active 31 DOM
14. 2026-05-31
    days on market $139,900 Active 30 DOM
15. 2026-05-01
    listed $139,900 Active 414-char remark
16. 2016-12-16
    historical 97-char remark

    Show marketing remark (97 chars)

    * * * Motivated Seller * * * Property is tenant occupied. Currently rented for $900 monthly.

17. 2016-11-03
    price $65,000 97-char remark

    Show marketing remark (97 chars)

    * * * Motivated Seller * * * Property is tenant occupied. Currently rented for $900 monthly.

18. 2016-10-14
    listed $70,000 Active 97-char remark

    Show marketing remark (97 chars)

    * * * Motivated Seller * * * Property is tenant occupied. Currently rented for $900 monthly.

19. 2014-06-17
    soldstatus $766,000
20. 2014-02-01
    listed $95,000

    Show marketing remark (275 chars)

    This is an opportunity to buy a well maintained home with newer 2.5 garage with vinyl siding and additional parking slab, cyclone fenced yard, aluminum combination windows, central air, Hi-E furnace, updated kitchen, updated bath with new tub surround and ceramic tile floor.

21. 2014-02-01
    historical

    Show marketing remark (275 chars)

    This is an opportunity to buy a well maintained home with newer 2.5 garage with vinyl siding and additional parking slab, cyclone fenced yard, aluminum combination windows, central air, Hi-E furnace, updated kitchen, updated bath with new tub surround and ceramic tile floor.

22. 2013-02-09
    historical
23. 2013-02-09
    listed $79,900
24. 2013-01-28
    historical
25. 2013-01-28
    listed $47,900
26. 2012-03-01
    soldstatus $41,000
27. 1982-10-01
    soldstatus $32,000

ⓘ 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: $2,412 · $201/mo
• Projected year-2 tax: $2,500 · $208/mo
• Expected delta: +$88/yr (+$7/mo · 3.7%)

ⓘ 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: $21,546
• − Mortgage interest: −$7,837
• − Property taxes: −$2,412
• − Insurance: −$700
• − Repairs & maintenance: −$1,724
• − Management: −$1,724
• − Depreciation: −$4,070
• Taxable income: $3,081
• Est. tax owed @ 24.0%: −$739
• After-tax cash flow: $4,367/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): 45,170
• Household income: $48,486
• Rent vs Own: 56.2% rent · 43.8% own
• Severe rent burden: 3390.0

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 (66%)
• Race & ethnicity: Black 66% White 22% Hispanic / Latino 5% Two or more races 5% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 3% Portuguese 1% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 4% Other Asian/Pacific 1% Russian/Polish/Slavic 1%

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: ▼ -194.98%
• Current HPI: 172.4275
• Rent YoY: ▲ 8.61%
• 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

+337.2% since first listed

13 events — show timeline

• 2026-05-01 Listed $139,900 METROMLS
• 2016-12-16 Listing Removed — METROMLS
• 2016-11-03 Price Changed $65,000 METROMLS
• 2016-10-14 Listed $70,000 METROMLS
• 2014-06-17 Sold (Public Records) $766,000 Public Records
• 2014-02-01 Listing Removed — METROMLS
• 2014-02-01 Listed $95,000 METROMLS
• 2013-02-09 Listed $79,900 METROMLS
• 2013-02-09 Listing Removed — METROMLS
• 2013-01-28 Listed $47,900 METROMLS
• 2013-01-28 Listing Removed — METROMLS
• 2012-03-01 Sold (MLS) $41,000 METROMLS
• 1982-10-01 Sold (Public Records) $32,000 Public Records

Property tax history

+0.5%/yr

Latest (2024): $2,412 · +10.1% YoY. Source: county tax records.