1806 N 24th St · Milwaukee, WI 53205

$139,900

3 bd · 1.0 ba · 1,144 sqft · SingleFamily public records · 62 Days on market

Built 1999 6,098 sqft lot $122/sqft · 6% above area Est $132k · 6% 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
• Appreciation +6.5/10.0
• DSCR +5.8/10.0
• 1% rule +5.0/10.0
• ARV discount +4.9/15.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks MLS

Built in 1999 this 3BR colonial home has much to offer with newer construction. Long time rental home is occupied. Parking in the back. Priced under assessed value!

Key facts

• 6,098 sq ft lot
• Parking
• Built 1999

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $132 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $139k (0.4% below list).
• Recommended offer: $132k (6.0% 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: 28 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 $1,394/mo this rent would consume 53% of the median local household income ($32k/yr) (locally 636% 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 $5k of equity ($967 loan paydown + $4k appreciation (3.0% local appreciation)).
• Milwaukee County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $31k; list at $140k implies a 351% gain — meaningful room to come down on a strong offer.

Recommended offer $131,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.00% ✗
• Cap rate: 7.43%
• Cash-on-cash: 4.04%
• DSCR: 1.18
• GRM: 8.4

CMA / ARV

• ARV (median comp): $132,233
• List price: $139,900
• Delta: 5.80%
• 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
2459 W Walnut St	0.13mi	3/1.0	1,108 (-3%)	4mo	$24,000	$22	85
1931 N 20th St	0.26mi	3/1.0	1,121 (-2%)	10mo	$152,500	$136	76
1431 N 24th Pl	0.33mi	3/1.0	1,106 (-3%)	8mo	$47,900	$43	73
1955 N 26th St	0.26mi	3/1.0	1,176 (+3%)	14mo	$172,500	$147	72
1437 N 26th St	0.37mi	3/1.0	1,082 (-5%)	11mo	$205,000	$189	64
1209 N 25th St	0.55mi	3/1.0	1,084 (-5%)	3mo	$106,000	$98	64
1444 N 29th St	0.47mi	4/2.0 (+1)	1,158 (+1%)	6mo	$76,000	$66	62
2932 W Juneau Ave	0.70mi	3/2.0	1,087 (-5%)	0mo	$75,000	$69	55
2462 N 23rd St	0.68mi	3/1.0	1,227 (+7%)	7mo	$129,900	$106	51
1915 W Galena St	0.34mi	3/1.5	994 (-13%)	15mo	$81,000	$81	48
2453 N 25th St	0.68mi	4/1.0 (+1)	1,194 (+4%)	14mo	$88,000	$74	44
2457 N 25th St	0.68mi	4/1.0 (+1)	1,230 (+8%)	13mo	$126,500	$103	40

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

Projected returns pro-forma

3.02% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.3%
• Equity multiple: 1.65×
• Total profit: $25,458
• Equity at exit: $63,089

10-year hold

• IRR: 13.5%
• Equity multiple: 3.01×
• Total profit: $78,681
• Equity at exit: $97,372

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 53205

• Home prices YoY: 0.8%
• Active inventory: 28
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,394 high
• Mortgage (P&I): −$734
• Tax from tax record: −$177 /mo · $2,128/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $132

Break-even live

Break-even rent $1,227

Max offer price $139,900

Occupancy floor 86%

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 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1430 N 21st St Unit 2 Milwaukee, WI	2.0	1.0	1000	$975	$0.97	43d	1	0.39mi
3109 W Walnut St Milwaukee, WI	2.0	1.0	1000	$1,095	$1.09	43d	1	0.53mi
1239 N 26th St Unit 1 Milwaukee, WI	3.0	1.0	1300	$1,400	$1.08	43d	1	0.53mi
1239 N 26th St Unit 1 Milwaukee, WI	3.0	1.0	1300	$1,400	$1.08	44d	1	0.53mi
1235 N 26th St Milwaukee, WI	3.0	1.0	900	$950	$1.06	43d	1	0.53mi
2478-2480 W Juneau Ave Unit 2478 Milwaukee, WI	4.0	1.0	1375	$1,495	$1.09	23d	1	0.55mi
2610 W Juneau Ave Unit 2610 Milwaukee, WI	3.0	1.0	893	$1,400	$1.57	23d	1	0.58mi
1515 N 32nd St Unit 1515 Milwaukee, WI	3.0	1.0	1200	$1,245	$1.04	4d	1	0.63mi
1639 N 33rd St Milwaukee, WI	3.0	1.0	1424	$950	$0.67	23d	1	0.65mi
2201 N 32nd St Unit 2201 Milwaukee, WI	3.0	1.0	1100	$1,195	$1.09	16d	1	0.68mi
936 N 25th St Unit 1 Milwaukee, WI	2.0	1.0	900	$1,338	$1.49	43d	1	0.80mi
2530 N 28th St Unit 2530 Lower Milwaukee, WI	2.0	1.0	764	$995	$1.30	14d	1	0.81mi
3303 W Juneau Ave Unit 5 Milwaukee, WI	2.0	1.0	750	$945	$1.26	43d	1	0.85mi
1135 N 33rd St Unit 2 Milwaukee, WI	2.0	1.0	850	$995	$1.17	43d	1	0.86mi
2809 W Clarke St Unit 12811 Milwaukee, WI	3.0	1.0	1400	$1,200	$0.86	17d	1	0.87mi
2125 W Kilbourn Ave Unit 15 Milwaukee, WI	2.0	1.0	800	$1,395	$1.74	43d	1	0.88mi
2630 N 24th St Milwaukee, WI	2.0	1.0	934	$1,450	$1.55	19d	1	0.88mi
825 N 22nd St Milwaukee, WI	2.0	1.0	675	$1,088	$1.61	4d	5	0.91mi
2001 N 38th St #2003 Milwaukee, WI	3.0	1.0	1326	$950	$0.72	1d	1	0.95mi
1116 N 13th St Milwaukee, WI	3.0	1.0	1400	$1,345	$0.96	14d	1	0.97mi
2741 N 23rd St Milwaukee, WI	3.0	1.0	900	$1,050	$1.17	14d	1	1.02mi
2741 N 23rd St Unit 2 Milwaukee, WI	3.0	1.0	1000	$1,100	$1.10	17d	1	1.03mi
1303 N 10th St Milwaukee, WI	3.0	1.0–2.0	797	$2,990	$3.75	1d	26	1.04mi
2765 N 26th St Unit 2 Milwaukee, WI	2.0	1.0	1100	$1,100	$1.00	4d	1	1.07mi
2765 N 26th St Unit 1 Milwaukee, WI	3.0	1.0	1125	$1,200	$1.07	4d	1	1.07mi
2517 W Hadley St Milwaukee, WI	2.0	1.0	850	$1,050	$1.24	14d	1	1.08mi
1009 W Juneau Ave Unit 114 Milwaukee, WI	2.0	1.5	900	$2,350	$2.61	43d	1	1.10mi
3100 W Center St Milwaukee, WI	3.0	2.0	1174	$1,531	$1.30	1d	1	1.10mi
2550 N 36th St Unit 2550A Upper Milwaukee, WI	2.0	1.0	711	$845	$1.19	23d	1	1.11mi
901 W Winnebago St Milwaukee, WI	1.0–3.0	1.0–2.0	1359	$2,629	$1.93	2d	10	1.12mi
2530 N 37th St Milwaukee, WI	2.0	1.0	1037	$1,000	$0.96	14d	1	1.13mi
2403-2405 N 39th St Unit 2403 Lower Milwaukee, WI	3.0	1.0	1200	$995	$0.83	10d	1	1.15mi
2403-2405 N 39th St Unit 2405 Upper Milwaukee, WI	3.0	1.0	1141	$995	$0.87	10d	1	1.16mi
1125 N 9th St Unit 111 Milwaukee, WI	2.0	1.0	735	$1,550	$2.11	43d	1	1.18mi
4232 W Highland Blvd Milwaukee, WI	2.0	1.0	700	$950	$1.36	14d	1	1.18mi
1125 N 9th St Unit 1379032P Milwaukee, WI	2.0	1.0	731	$2,975	$4.07	1d	1	1.19mi
1125 N 9th St Unit 1379037P Milwaukee, WI	2.0	1.0	731	$2,717	$3.72	43d	1	1.19mi
1125 N 9th St Unit 1379036P Milwaukee, WI	2.0	1.0	731	$3,063	$4.19	23d	1	1.19mi
2251 N 41st St Unit Lower Milwaukee, WI	3.0	1.0	1187	$1,198	$1.01	14d	1	1.19mi
2870 N 29th St #2872 Milwaukee, WI	3.0	1.0	1300	$1,250	$0.96	43d	1	1.24mi

Listing history 18 events

1. 2026-06-18
   days on market $139,900 Active 62 DOM
2. 2026-06-17
   days on market $139,900 Active 61 DOM
3. 2026-06-16
   days on market $139,900 Active 60 DOM
4. 2026-06-15
   days on market $139,900 Active 59 DOM
5. 2026-06-13
   days on market $139,900 Active 57 DOM
6. 2026-06-13
   days on market $139,900 Active 56 DOM
7. 2026-06-09
   days on market $139,900 Active 53 DOM
8. 2026-06-08
   days on market $139,900 Active 52 DOM
9. 2026-06-07
   days on market $139,900 Active 51 DOM
10. 2026-06-05
    days on market $139,900 Active 48 DOM
11. 2026-06-03
    days on market $139,900 Active 47 DOM
12. 2026-06-02
    days on market $139,900 Active 46 DOM
13. 2026-06-01
    days on market $139,900 Active 45 DOM
14. 2026-05-31
    days on market $139,900 Active 44 DOM
15. 2026-04-24
    price $139,900 164-char remark

    Show marketing remark (164 chars)

    Built in 1999 this 3BR colonial home has much to offer with newer construction. Long time rental home is occupied. Parking in the back. Priced under assessed value!

16. 2026-04-17
    listed $149,900 Active 164-char remark

    Show marketing remark (164 chars)

    Built in 1999 this 3BR colonial home has much to offer with newer construction. Long time rental home is occupied. Parking in the back. Priced under assessed value!

17. 2014-05-22
    listed $29,999 98-char remark

    Show marketing remark (98 chars)

    Great Owner Occupied or investtor. Property in need of minor updating. Price below city assessment

18. 2014-05-21
    soldstatus $31,000 98-char remark

    Show marketing remark (98 chars)

    Great Owner Occupied or investtor. Property in need of minor updating. Price below city assessment

ⓘ 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: $2,128 · $177/mo
• Projected year-2 tax: $2,358 · $196/mo
• Expected delta: +$230/yr (+$19/mo · 10.8%)

ⓘ 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: $16,728
• − Mortgage interest: −$7,837
• − Property taxes: −$2,128
• − Insurance: −$700
• − Repairs & maintenance: −$1,338
• − Management: −$1,338
• − Depreciation: −$4,070
• Taxable loss: −$682
• Est. tax savings @ 24.0%: +$164
• After-tax cash flow: $1,748/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): 9,265
• Household income: $31,529
• Rent vs Own: 72.6% rent · 27.4% own
• Severe rent burden: 636.0

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 (80%)
• Race & ethnicity: Black 80% Asian 7% White 6% Hispanic / Latino 6% Two or more races 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 1% Lithuanian 1% Swedish 1%
• Foreign-born: 6% · Canada
• Languages at home: 88% English-only · Other Asian/Pacific 5% Spanish 5%

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: ▲ 3.02%
• Current HPI: 363.0038
• Rent YoY: —
• 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

+351.3% since first listed

4 events — show timeline

• 2026-04-24 Price Changed $139,900 METROMLS
• 2026-04-17 Listed $149,900 METROMLS
• 2014-05-22 Listed $29,999 METROMLS
• 2014-05-21 Sold (MLS) $31,000 METROMLS

Property tax history

+1.4%/yr

Latest (2024): $2,128 · +13.7% YoY. Source: county tax records.