5359 W Leon Ter · Milwaukee, WI 53216

$129,900

3 bd · 1.0 ba · 800 sqft · SingleFamily public records · 22 Days on market

Built 1951 9,583 sqft lot $162/sqft · 7% above area Est $122k · 7% over

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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 +18.5/30.0
• DSCR +5.8/10.0
• Appreciation +5.7/10.0
• 1% rule +5.0/10.0
• ARV discount +4.5/15.0
• Rent growth +4.3/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks MLS

3BR ranch with full basement and fully fenced yard in very handy location. This house has been a long time rental property and is ready for a new owner. Great deposit and rent. Interior has some upgrades.

Key facts

• 9,583 sq ft lot
• Garage
• Built 1951

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $124 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Recommended offer: $128k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.4% 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 (+7.0%/yr); 126 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• This rent runs 34% of the median local income ($47k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $3k of equity ($898 loan paydown + $2k appreciation (1.3% local appreciation)).
• Milwaukee County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (1.3% appreciation + 7.0% rent growth), your $36k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y 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 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,951 (1.5% below list)

Questions for the listing agent

1. Built in 1951 — 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: 1.00% ✓
• Cap rate: 7.44%
• Cash-on-cash: 4.09%
• DSCR: 1.18
• GRM: 8.3

CMA / ARV

• ARV (median comp): $121,872
• List price: $129,900
• Delta: 6.59%
• 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
5359 W Leon Ter	0.00mi	3/1.0	800 (0%)	1mo	$120,000	$150	100
5601 W Congress St	0.22mi	2/1.0 (-1)	800 (0%)	8mo	$172,000	$215	78
4340 N 48th St	0.40mi	3/1.0	828 (+4%)	10mo	$129,500	$156	67
4485 N 56th St	0.34mi	2/1.0 (-1)	767 (-4%)	7mo	$105,000	$137	67
4407 N 62nd St	0.51mi	2/1.0 (-1)	842 (+5%)	6mo	$67,500	$80	57
4478 N 48th St	0.49mi	3/1.0	870 (+9%)	7mo	$99,900	$115	57
4437 N 65th St	0.69mi	2/2.0 (-1)	828 (+4%)	4mo	$64,900	$78	50
4652 N 49th St	0.61mi	2/1.5 (-1)	835 (+4%)	11mo	$100,000	$120	48
4430 W Glendale Ave	0.74mi	3/1.0	908 (+14%)	0mo	$180,000	$198	43
4337 N 42nd Pl	0.74mi	2/1.0 (-1)	698 (-13%)	2mo	$126,900	$182	37
4765 N 48th St	0.75mi	2/1.0 (-1)	720 (-10%)	10mo	$63,675	$88	35
4233 N 42nd Pl	0.73mi	2/1.0 (-1)	688 (-14%)	12mo	$62,500	$91	28

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

Projected returns pro-forma

1.33% appreciation · 7.01% rent growth · sell at horizon

5-year hold

• IRR: 9.3%
• Equity multiple: 1.49×
• Total profit: $17,937
• Equity at exit: $46,579

10-year hold

• IRR: 15.3%
• Equity multiple: 3.13×
• Total profit: $77,337
• Equity at exit: $63,665

Cash invested: $36,372 (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 53216

• Home prices YoY: 0.3%
• Rents YoY: 7.0%
• Active inventory: 126
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,305 high
• Mortgage (P&I): −$681
• Tax from tax record: −$172 /mo · $2,061/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $124

Break-even live

Break-even rent $1,148

Max offer price $129,900

Occupancy floor 85%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4640 N 51st Blvd Milwaukee, WI	2.0	1.0	1075	$1,275	$1.19	44d	1	0.52mi
4479A N 44th St Milwaukee, WI	2.0	1.0	1000	$895	$0.90	44d	1	0.69mi
4727 N 46th St Milwaukee, WI	3.0	1.0	936	$1,700	$1.82	44d	1	0.77mi
4703 N 45th St Milwaukee, WI	3.0	1.0	1031	$1,695	$1.64	24d	1	0.79mi
4153 N 68th St Milwaukee, WI	3.0	1.0	1025	$1,700	$1.66	44d	1	0.84mi
4702 N 44th St Milwaukee, WI	3.0	2.0	1050	$1,850	$1.76	44d	1	0.85mi
4852 N 48th St Unit 4852 Milwaukee, WI	2.0	1.0	830	$995	$1.20	2d	1	0.87mi
3890 N Sherman Blvd Milwaukee, WI	2.0	1.0	950	$1,100	$1.16	12d	1	0.88mi
5137 W Keefe Ave Unit 5137 Milwaukee, WI	2.0	1.0	1000	$1,550	$1.55	3d	1	0.88mi
3925 N 42nd St Milwaukee, WI	2.0	1.0	985	$1,400	$1.42	24d	1	0.89mi
6518 W Hampton Ave Unit 2 Milwaukee, WI	2.0	1.0	1100	$1,200	$1.09	44d	1	0.93mi
5050 N 47th St Milwaukee, WI	2.0	1.0	1092	$1,700	$1.56	44d	1	1.12mi
4572 N 38th St Unit 2 Milwaukee, WI	2.0	1.0	600	$950	$1.58	44d	1	1.12mi
4661 N 38th St Unit 4661 Milwaukee, WI	2.0	1.0	1000	$845	$0.84	14d	1	1.14mi
3606 N 41st St Unit 3608 Milwaukee, WI	2.0	1.0	1095	$975	$0.89	44d	1	1.17mi
6960 W Appleton Ave Apt 4 Milwaukee, WI	2.0	1.0	750	$1,100	$1.47	44d	1	1.18mi
3340 N 44th St Milwaukee, WI	2.0	1.0	900	$1,295	$1.44	12d	1	1.22mi
4610 W Eggert Pl #4612 Milwaukee, WI	3.0	1.0	852	$1,095	$1.29	24d	1	1.23mi
3871-3873 N 36th St Unit 3871 Milwaukee, WI	2.0	1.0	987	$950	$0.96	24d	1	1.24mi
4651 N 36th St #4 Milwaukee, WI	2.0	1.0	747	$945	$1.27	24d	1	1.25mi
5165-5167 N 45th St Unit 5165 Milwaukee, WI	3.0	1.0	1020	$1,200	$1.18	17d	1	1.27mi
4340 W Eggert Pl Milwaukee, WI	4.0	1.0	1066	$1,695	$1.59	24d	1	1.30mi
4334 W Eggert Pl Milwaukee, WI	4.0	1.0	1077	$1,695	$1.57	24d	1	1.30mi
3630 W Nash St Milwaukee, WI	2.0	1.0	1000	$1,200	$1.20	24d	1	1.31mi
4843 N 72nd St Milwaukee, WI	3.0	1.0	1014	$1,485	$1.46	44d	1	1.32mi
3072 N 49th St Unit 3072- 3 Milwaukee, WI	2.0	1.0	1000	$950	$0.95	44d	1	1.42mi
3072 N 49th St Milwaukee, WI	2.0	1.0	1000	$950	$0.95	16d	1	1.42mi
3066 N 49th St Unit 3066-5 Milwaukee, WI	2.0	1.0	1100	$950	$0.86	44d	1	1.42mi
3214 N 41st St Milwaukee, WI	2.0	1.0	900	$1,250	$1.39	44d	1	1.48mi

Listing history 16 events

1. 2026-05-06
   status Pending 204-char remark

   Show marketing remark (204 chars)

   3BR ranch with full basement and fully fenced yard in very handy location. This house has been a long time rental property and is ready for a new owner. Great deposit and rent. Interior has some upgrades.

2. 2026-04-14
   listed $129,900 Active 204-char remark

   Show marketing remark (204 chars)

   3BR ranch with full basement and fully fenced yard in very handy location. This house has been a long time rental property and is ready for a new owner. Great deposit and rent. Interior has some upgrades.

3. 2024-07-19
   historical $1,799
4. 2024-07-10
   listed $1,799
5. 2024-03-14
   historical $1,799
6. 2024-01-28
   listed $1,799
7. 2023-09-04
   historical $1,799
8. 2023-08-16
   price $1,799
9. 2023-07-28
   listed $1,999
10. 2022-08-24
    price $1,499
11. 2020-09-04
    soldstatus $420,000
12. 2014-08-29
    listed $69,900 145-char remark

    Show marketing remark (145 chars)

    3-bed Ranch w/ double lot. Garage + parking slab. Great opportunity for first time Buyer. Investors ask about poss. pkg deal w/ other proeprties.

13. 2014-08-29
    historical 145-char remark

    Show marketing remark (145 chars)

    3-bed Ranch w/ double lot. Garage + parking slab. Great opportunity for first time Buyer. Investors ask about poss. pkg deal w/ other proeprties.

14. 2004-04-07
    soldstatus $70,000
15. 1996-11-21
    soldstatus $38,500
16. 1996-09-01
    soldstatus $38,500

ⓘ 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: $2,061 · $172/mo
• Projected year-2 tax: $2,232 · $186/mo
• Expected delta: +$171/yr (+$14/mo · 8.3%)

ⓘ 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 ≥100°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,664
• − Mortgage interest: −$7,276
• − Property taxes: −$2,061
• − Insurance: −$650
• − Repairs & maintenance: −$1,253
• − Management: −$1,253
• − Depreciation: −$3,779
• Taxable loss: −$608
• Est. tax savings @ 24.0%: +$146
• After-tax cash flow: $1,635/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): 30,345
• Household income: $46,752
• Rent vs Own: 52.7% rent · 47.3% own
• Severe rent burden: 2202.0

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 (81%)
• Race & ethnicity: Black 81% White 9% Hispanic / Latino 5% Two or more races 5% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 1%
• Foreign-born: 3% · Canada, Philippines, China
• Languages at home: 93% English-only · Spanish 4% Other Asian/Pacific 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: ▲ 1.33%
• Current HPI: 381.0954
• Rent YoY: ▲ 7.01%
• 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

+237.4% since first listed

16 events — show timeline

• 2026-05-06 Pending — METROMLS
• 2026-04-14 Listed $129,900 METROMLS
• 2024-07-19 Rental Removed $1,799 APPFOLIO
• 2024-07-10 Listed for Rent $1,799 APPFOLIO
• 2024-03-14 Rental Removed $1,799 APPFOLIO
• 2024-01-28 Listed for Rent $1,799 APPFOLIO
• 2023-09-04 Rental Removed $1,799 APPFOLIO
• 2023-08-16 Price Changed $1,799 APPFOLIO
• 2023-07-28 Listed for Rent $1,999 APPFOLIO
• 2022-08-24 Price Changed $1,499 APPFOLIO
• 2020-09-04 Sold (Public Records) $420,000 Public Records
• 2014-08-29 Listing Removed — METROMLS
• 2014-08-29 Listed $69,900 METROMLS
• 2004-04-07 Sold (Public Records) $70,000 Public Records
• 1996-11-21 Sold (Public Records) $38,500 Public Records
• 1996-09-01 Sold (Public Records) $38,500 Public Records

Property tax history

+1.3%/yr

Latest (2024): $2,061 · +33.6% YoY. Source: county tax records.