5954 N 39th St · Milwaukee, WI 53209

$94,900

3 bd · 1.0 ba · 710 sqft · SingleFamily public records · 42 Days on market

Built 1929 3,920 sqft lot $134/sqft · 13% above area Est $84k · 13% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.7/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• ARV discount +1.7/15.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Affordable home in handy location has been well kept and cared for through its years as a rental property. Interior has been freshly painted and property is rented for the next year.

Key facts

• 3,920 sq ft lot
• Parking
• Built 1929

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $570 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $92k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.5% 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); 171 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• This rent runs 37% 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 $656 of loan paydown is wiped out by about $3k 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 $27k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 13y ago; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $14k; list at $95k implies a 603% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $92,053 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 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 1929 — 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: 1.59% ✓
• Cap rate: 13.50%
• Cash-on-cash: 25.74%
• DSCR: 2.15
• GRM: 5.2

CMA / ARV

• ARV (median comp): $84,135
• List price: $94,900
• Delta: 12.79%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6110 N 39th St	0.23mi	2/1.0 (-1)	698 (-2%)	1mo	$76,000	$109	81
5915 N 38th St	0.06mi	3/1.0	782 (+10%)	6mo	$65,000	$83	75
5908 N 32nd St	0.40mi	2/1.0 (-1)	720 (+1%)	1mo	$134,900	$187	73
5846 N 41st St	0.18mi	2/1.0 (-1)	720 (+1%)	14mo	$50,000	$69	72
3805 W Kaul Ave	0.20mi	2/1.0 (-1)	747 (+5%)	11mo	$109,900	$147	68
4228 W Newton Pl	0.35mi	2/1.0 (-1)	672 (-5%)	3mo	$53,000	$79	68
6115 N 37th St	0.25mi	2/1.0 (-1)	676 (-5%)	14mo	$102,000	$151	64
3819 W Douglas Ave	0.35mi	2/1.0 (-1)	672 (-5%)	8mo	$92,000	$137	63
5519 N 35th St	0.60mi	2/1.0 (-1)	713 (+0%)	17mo	$114,900	$161	52
4222 W Thurston Ave	0.38mi	2/1.0 (-1)	781 (+10%)	12mo	$146,500	$188	51
5528 N 32nd St	0.69mi	2/1.0 (-1)	748 (+5%)	8mo	$115,000	$154	48
5405 N 41st St	0.72mi	2/1.0 (-1)	816 (+15%)	23mo	$90,000	$110	18

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: 24.8%
• Equity multiple: 2.09×
• Total profit: $28,917
• Equity at exit: $14,150

10-year hold

• IRR: 35.5%
• Equity multiple: 5.08×
• Total profit: $108,319
• Equity at exit: $8,205

Cash invested: $26,572 (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: 171
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,513 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$88 /mo · $1,055/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $570

Break-even live

Break-even rent $791

Max offer price $94,900

Occupancy floor 57%

Sensitivity live

Price	-10% $624	-5% $597	+0% $570	+5% $543	+10% $516
Rent	-10% $450	-5% $510	+0% $570	+5% $630	+10% $689
Rate	-1.0pp $618	-0.5pp $594	base $570	+0.5pp $545	+1.0pp $520

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: $23,725
• Closing costs: $2,847
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6110 N 39th St Milwaukee, WI	2.0	1.0	703	$1,395	$1.98	5d	1	0.22mi
6600 N Sidney Pl Glendale, WI	1.0–2.0	1.0	800	$1,587	$1.98	4d	13	1.06mi
6026 W Carmen Ave Milwaukee, WI	2.0	1.0	672	$1,195	$1.78	24d	1	1.33mi

Listing history 17 events

1. 2026-04-24
   price $94,900 182-char remark

   Show marketing remark (182 chars)

   Affordable home in handy location has been well kept and cared for through its years as a rental property. Interior has been freshly painted and property is rented for the next year.

2. 2026-04-14
   listed $99,900 Active 182-char remark

   Show marketing remark (182 chars)

   Affordable home in handy location has been well kept and cared for through its years as a rental property. Interior has been freshly painted and property is rented for the next year.

3. 2026-02-02
   historical $1,399
4. 2025-11-10
   listed $1,399
5. 2013-02-08
   listed $29,900 208-char remark

   Show marketing remark (208 chars)

   Owner occupants - why rent when you can start building equity of your own in this cozy home! 3 bedrooms, formal dining room, side drive and spacious yard. Investors - great rental property. Let's negotiate!!!

6. 2013-02-08
   historical 208-char remark

   Show marketing remark (208 chars)

   Owner occupants - why rent when you can start building equity of your own in this cozy home! 3 bedrooms, formal dining room, side drive and spacious yard. Investors - great rental property. Let's negotiate!!!

7. 2013-02-08
   historical

   Show marketing remark (208 chars)

   Owner occupants - why rent when you can start building equity of your own in this cozy home! 3 bedrooms, formal dining room, side drive and spacious yard. Investors - great rental property. Let's negotiate!!!

8. 2013-02-08
   listed $49,900

   Show marketing remark (208 chars)

   Owner occupants - why rent when you can start building equity of your own in this cozy home! 3 bedrooms, formal dining room, side drive and spacious yard. Investors - great rental property. Let's negotiate!!!

9. 2013-02-07
   historical
10. 2013-02-07
    listed $54,900
11. 2013-02-06
    listed $59,900
12. 2013-02-06
    historical
13. 2013-01-31
    historical
14. 2013-01-31
    listed $59,900
15. 2013-01-25
    historical
16. 2013-01-25
    listed $17,500
17. 2010-07-02
    soldstatus $13,500

ⓘ 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: $1,055 · $88/mo
• Projected year-2 tax: $1,405 · $117/mo
• Expected delta: +$350/yr (+$29/mo · 33.2%)

ⓘ 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,152
• − Mortgage interest: −$5,316
• − Property taxes: −$1,055
• − Insurance: −$474
• − Repairs & maintenance: −$1,452
• − Management: −$1,452
• − Depreciation: −$2,761
• Taxable income: $5,642
• Est. tax owed @ 24.0%: −$1,354
• After-tax cash flow: $5,485/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

+603.0% since first listed

17 events — show timeline

• 2026-04-24 Price Changed $94,900 METROMLS
• 2026-04-14 Listed $99,900 METROMLS
• 2026-02-02 Rental Removed $1,399 APPFOLIO
• 2025-11-10 Listed for Rent $1,399 APPFOLIO
• 2013-02-08 Listing Removed — METROMLS
• 2013-02-08 Listed $29,900 METROMLS
• 2013-02-08 Listed $49,900 METROMLS
• 2013-02-08 Listing Removed — METROMLS
• 2013-02-07 Listed $54,900 METROMLS
• 2013-02-07 Listing Removed — METROMLS
• 2013-02-06 Listing Removed — METROMLS
• 2013-02-06 Listed $59,900 METROMLS
• 2013-01-31 Listed $59,900 METROMLS
• 2013-01-31 Listing Removed — METROMLS
• 2013-01-25 Listed $17,500 METROMLS
• 2013-01-25 Listing Removed — METROMLS
• 2010-07-02 Sold (MLS) $13,500 METROMLS

Property tax history

-0.4%/yr

Latest (2024): $1,055 · +7.9% YoY. Source: county tax records.