5733 W Custer Ave · Milwaukee, WI 53218

$109,900

3 bd · 1.0 ba · 1,041 sqft · SingleFamily public records · 17 Days on market

Built 1953 4,791 sqft lot $106/sqft · 21% below area Est $140k · 21% under

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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 +27.2/30.0
• ARV discount +15.0/15.0
• DSCR +9.5/10.0
• 1% rule +7.8/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

#BR Ranch in handy area, has a side drive and garage. Long time rental property has been occupied by same resident for 5 years. Newer roof!

Key facts

• Garage
• Newer roof
• Side drive

Tags

• SIDE DRIVE
• GARAGE
• NEWER ROOF

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $316 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $108k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.7% 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 (+5.3%/yr); 153 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 37% of the median local income ($46k/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 $760 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 + 5.3% rent growth), your $31k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 2 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 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $108,251 (1.5% below list)

Questions for the listing agent

1. Built in 1953 — 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: 1.28% ✓
• Cap rate: 9.74%
• Cash-on-cash: 12.31%
• DSCR: 1.55
• GRM: 6.5

CMA / ARV

• ARV (median comp): $139,715
• List price: $109,900
• Delta: -21.34%
• 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
5466 N 57th St	0.13mi	3/1.0	1,108 (+6%)	1mo	$95,100	$86	82
5735 W Thurston Ave	0.31mi	3/1.0	1,084 (+4%)	0mo	$170,500	$157	78
5330 N 54th St	0.26mi	3/1.0	1,127 (+8%)	1mo	$199,900	$177	73
5139 N 57th St	0.31mi	3/1.0	1,128 (+8%)	1mo	$125,000	$111	71
4893 N 64th St	0.69mi	3/1.0	1,027 (-1%)	2mo	$65,000	$63	64
5272 N 65th St	0.39mi	3/1.0	912 (-12%)	1mo	$127,000	$139	60
4872 N 63rd St	0.66mi	3/1.5	1,100 (+6%)	1mo	$207,900	$189	57
4906 N 58th St	0.60mi	3/1.0	940 (-10%)	1mo	$100,000	$106	55
5267 N 48th St	0.62mi	3/1.0	932 (-10%)	1mo	$183,000	$196	53
5003 N 51st Blvd	0.63mi	3/1.0	934 (-10%)	1mo	$110,000	$118	53
5863 N 62nd St	0.65mi	3/1.0	905 (-13%)	0mo	$180,000	$199	48
4947 N 66th St	0.69mi	3/1.0	1,196 (+15%)	1mo	$205,000	$171	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 · 5.29% rent growth · sell at horizon

5-year hold

• IRR: 4.6%
• Equity multiple: 1.18×
• Total profit: $5,636
• Equity at exit: $16,386

10-year hold

• IRR: 16.2%
• Equity multiple: 2.47×
• Total profit: $45,164
• Equity at exit: $9,502

Cash invested: $30,772 (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 53218

• Home prices YoY: -19.0%
• Rents YoY: 5.3%
• Active inventory: 153
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,402 high
• Mortgage (P&I): −$576
• Tax from tax record: −$170 /mo · $2,038/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $316

Break-even live

Break-even rent $1,002

Max offer price $109,900

Occupancy floor 72%

Sensitivity live

Price	-10% $378	-5% $347	+0% $316	+5% $284	+10% $253
Rent	-10% $205	-5% $260	+0% $316	+5% $371	+10% $426
Rate	-1.0pp $371	-0.5pp $344	base $316	+0.5pp $287	+1.0pp $258

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5657 N 60th St #5659 Milwaukee, WI	3.0	1.0	878	$995	$1.13	17d	1	0.41mi
5688 N 56th St Milwaukee, WI	3.0	1.0	850	$1,445	$1.70	13d	1	0.45mi
6221 W Thurston Ave #6223 Milwaukee, WI	3.0	1.0	800	$1,100	$1.38	20d	1	0.46mi
5659 N 64th St Unit 5659A Milwaukee, WI	2.0	1.0	1091	$1,300	$1.19	44d	1	0.51mi
4900 N 58th St Milwaukee, WI	3.0	1.0	1455	$1,450	$1.00	5d	1	0.58mi
5830 N 61st St Milwaukee, WI	3.0	1.0	1024	$1,450	$1.42	44d	1	0.61mi
6921 W Herbert Ave Milwaukee, WI	3.0	2.0	1414	$1,620	$1.15	5d	1	0.65mi
5820 N 65th St #5822 Milwaukee, WI	2.0	1.0	700	$1,245	$1.78	44d	1	0.69mi
5073 N 48th St Milwaukee, WI	4.0	1.0	1152	$1,595	$1.38	15d	1	0.71mi
5823 N 65th St Unit Upper Milwaukee, WI	2.0	1.0	768	$1,295	$1.69	44d	1	0.71mi
5831 N 65th St Unit 5831 Milwaukee, WI	3.0	1.0	900	$1,195	$1.33	44d	1	0.72mi
4610 W Eggert Pl #4612 Milwaukee, WI	3.0	1.0	852	$1,095	$1.29	24d	1	0.77mi
6518 W Hampton Ave Unit 2 Milwaukee, WI	2.0	1.0	1100	$1,200	$1.09	44d	1	0.80mi
5050 N 47th St Milwaukee, WI	2.0	1.0	1092	$1,700	$1.56	44d	1	0.80mi
5905 N 66th St Unit 66th Lower Milwaukee, WI	3.0	1.0	1000	$1,600	$1.60	17d	1	0.83mi
5165-5167 N 45th St Unit 5165 Milwaukee, WI	3.0	1.0	1020	$1,200	$1.18	17d	1	0.84mi
6046 N 61st St Unit 1 Milwaukee, WI	3.0	1.0	1200	$1,345	$1.12	24d	1	0.88mi
6046 N 61st St Unit 2 Milwaukee, WI	3.0	1.0	1250	$1,395	$1.12	44d	1	0.89mi
4852 N 48th St Unit 4852 Milwaukee, WI	2.0	1.0	830	$995	$1.20	2d	1	0.89mi
5956 N 67th St Milwaukee, WI	2.0	1.0	925	$1,250	$1.35	44d	1	0.90mi
5958 N 67th St Milwaukee, WI	2.0	1.0	925	$1,250	$1.35	5d	1	0.91mi
4340 W Eggert Pl Milwaukee, WI	4.0	1.0	1066	$1,695	$1.59	24d	1	0.91mi
4334 W Eggert Pl Milwaukee, WI	4.0	1.0	1077	$1,695	$1.57	24d	1	0.92mi
5950 N 69th St Unit 1 Milwaukee, WI	2.0	1.0	1100	$1,100	$1.00	44d	1	0.97mi
7348 W Medford Ave Unit 7348A Milwaukee, WI	2.0	1.0	1095	$950	$0.87	24d	1	1.00mi
4640 N 51st Blvd Milwaukee, WI	2.0	1.0	1075	$1,275	$1.19	44d	1	1.01mi
4843 N 72nd St Milwaukee, WI	3.0	1.0	1014	$1,485	$1.46	44d	1	1.07mi
4727 N 46th St Milwaukee, WI	3.0	1.0	936	$1,700	$1.82	44d	1	1.08mi
7632 W Leon Ter Unit C Milwaukee, WI	2.0	1.5	1000	$1,200	$1.20	24d	1	1.13mi
5435 N 40th St Milwaukee, WI	2.0	1.0	850	$1,150	$1.35	17d	1	1.13mi
5696 N 42nd St Milwaukee, WI	4.0	1.0	1023	$1,495	$1.46	24d	1	1.13mi
4703 N 45th St Milwaukee, WI	3.0	1.0	1031	$1,695	$1.64	24d	1	1.15mi
4702 N 44th St Milwaukee, WI	3.0	2.0	1050	$1,850	$1.76	44d	1	1.22mi
7701 W Hampton Ave Unit 6 Milwaukee, WI	2.0	1.0	816	$1,250	$1.53	44d	1	1.38mi
4479A N 44th St Milwaukee, WI	2.0	1.0	1000	$895	$0.90	44d	1	1.39mi
8023 W Thurston Ave Unit 2 Milwaukee, WI	2.0	1.0	850	$850	$1.00	44d	1	1.42mi
8037 W Thurston Ave Milwaukee, WI	3.0	1.0	1040	$1,600	$1.54	44d	1	1.45mi
5541 N 35th St #5543 Milwaukee, WI	3.0	1.0	1130	$1,195	$1.06	5d	1	1.45mi
5908 N 80th St Milwaukee, WI	3.0	1.0	1056	$1,550	$1.47	24d	1	1.48mi
5955 N 79th St Unit 1 Milwaukee, WI	3.0	1.0	1100	$1,650	$1.50	44d	1	1.48mi

Listing history 9 events

1. 2026-05-04
   status Pending 139-char remark

   Show marketing remark (139 chars)

   #BR Ranch in handy area, has a side drive and garage. Long time rental property has been occupied by same resident for 5 years. Newer roof!

2. 2026-04-17
   listed $109,900 Active 139-char remark

   Show marketing remark (139 chars)

   #BR Ranch in handy area, has a side drive and garage. Long time rental property has been occupied by same resident for 5 years. Newer roof!

3. 2020-07-28
   soldstatus $150,000
4. 2020-07-28
   soldstatus $37,500
5. 2013-02-02
   listed $109,900 132-char remark

   Show marketing remark (132 chars)

   Good condition, shows well. Total Sq/ft and lot size taken from city records, room sizes estimated. Listing agent related to seller.

6. 2013-02-02
   historical 132-char remark

   Show marketing remark (132 chars)

   Good condition, shows well. Total Sq/ft and lot size taken from city records, room sizes estimated. Listing agent related to seller.

7. 2004-08-09
   soldstatus $86,000
8. 2001-06-18
   soldstatus $50,000
9. 2000-04-19
   soldstatus $37,000

ⓘ 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: $2,038 · $170/mo
• Projected year-2 tax: $2,038 · $170/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 6/10 Major FEMA zone X (unshaded) · 71% 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: $16,823
• − Mortgage interest: −$6,156
• − Property taxes: −$2,038
• − Insurance: −$550
• − Repairs & maintenance: −$1,346
• − Management: −$1,346
• − Depreciation: −$3,197
• Taxable income: $2,191
• Est. tax owed @ 24.0%: −$526
• After-tax cash flow: $3,261/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): 41,196
• Household income: $45,642
• Rent vs Own: 57.1% rent · 42.9% own
• Severe rent burden: 2421.0

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 (72%)
• Race & ethnicity: Black 72% Asian 10% White 10% Hispanic / Latino 5% Two or more races 3%
• Common ancestry: Romanian 1% Lithuanian 1%
• Foreign-born: 6% · Philippines, Canada
• Languages at home: 89% English-only · Other Asian/Pacific 7% Spanish 3%

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: ▼ -76.44%
• Current HPI: 325.1975
• Rent YoY: ▲ 5.29%
• 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

+197.0% since first listed

9 events — show timeline

• 2026-05-04 Pending — METROMLS
• 2026-04-17 Listed $109,900 METROMLS
• 2020-07-28 Sold (Public Records) $37,500 Public Records
• 2020-07-28 Sold (Public Records) $150,000 Public Records
• 2013-02-02 Listing Removed — METROMLS
• 2013-02-02 Listed $109,900 METROMLS
• 2004-08-09 Sold (Public Records) $86,000 Public Records
• 2001-06-18 Sold (Public Records) $50,000 Public Records
• 2000-04-19 Sold (Public Records) $37,000 Public Records

Property tax history

+4.6%/yr

Latest (2024): $2,038 · +31.1% YoY. Source: county tax records.