8600 W Fond Du Lac Ave · Milwaukee, WI 53225

$40,000

2 bd · 1.0 ba · 852 sqft · SingleFamily public records · 26 Days on market

Built 1937 0.59 ac lot $47/sqft · 76% below area

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.3/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a tax foreclosed property. Offers reviewed upon receipt - no waiting period. Owner-Occupants will be prioritized.

Key facts

• 0.59 acre lot
• Garage
• Built 1937

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $689 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $39k (1.5% below list) — sets the bar for market timing.
• Cap rate 27.0% 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 (+7.1%/yr); 45 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $277 of loan paydown is wiped out by about $1k 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 + 7.1% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 1937 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $39,400 (1.5% below list)

Questions for the listing agent

1. Built in 1937 — 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: 3.06% ✓
• Cap rate: 26.98%
• Cash-on-cash: 73.87%
• DSCR: 4.29
• GRM: 2.7

CMA / ARV

• ARV (median comp): $166,014
• List price: $40,000
• Delta: -75.91%
• 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
8221 W Carmen Ave	0.15mi	3/1.0 (+1)	963 (+13%)	1mo	$192,500	$200	66
5718 N 80th St	0.32mi	3/1.0 (+1)	945 (+11%)	0mo	$113,500	$120	62
8200 W Glen Ave	0.43mi	3/1.0 (+1)	925 (+9%)	1mo	$134,000	$145	60
6330 N Joyce Ave	0.74mi	3/1.0 (+1)	877 (+3%)	1mo	$140,000	$160	54
9001 W Thurston Ave	0.41mi	3/1.0 (+1)	969 (+14%)	1mo	$115,000	$119	52
7719 W Florist Ave	0.54mi	3/1.0 (+1)	910 (+7%)	10mo	$186,000	$204	50
5803 N 77th St	0.48mi	3/1.0 (+1)	936 (+10%)	8mo	$178,700	$191	50
8620 W Lynx Ave	0.54mi	3/2.0 (+1)	938 (+10%)	1mo	$290,000	$309	48
5950 N 75th St	0.69mi	3/1.0 (+1)	928 (+9%)	4mo	$165,000	$178	45
8800 W Douglas Ave	0.63mi	2/1.0	751 (-12%)	8mo	$175,000	$233	44
5736 N 96th St	0.75mi	3/1.0 (+1)	976 (+15%)	4mo	$182,500	$187	32
5759 N 95th St	0.71mi	3/1.5 (+1)	974 (+14%)	9mo	$225,000	$231	29

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 · 7.14% rent growth · sell at horizon

5-year hold

• IRR: 78.3%
• Equity multiple: 4.82×
• Total profit: $42,752
• Equity at exit: $5,964

10-year hold

• IRR: 83.0%
• Equity multiple: 11.50×
• Total profit: $117,554
• Equity at exit: $3,458

Cash invested: $11,200 (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 53225

• Home prices YoY: -21.1%
• Rents YoY: 7.1%
• Active inventory: 45
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $1,223 high
• Mortgage (P&I): −$210
• Tax est. 1.5%: −$50 /mo · $600/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $689

Break-even live

Break-even rent $350

Max offer price $40,000

Occupancy floor 39%

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8037 W Thurston Ave Milwaukee, WI	3.0	1.0	1040	$1,600	$1.54	44d	1	0.24mi
8023 W Thurston Ave Unit 2 Milwaukee, WI	2.0	1.0	850	$850	$1.00	44d	1	0.27mi
5908 N 80th St Milwaukee, WI	3.0	1.0	1056	$1,550	$1.47	24d	1	0.40mi
5955 N 79th St Unit 1 Milwaukee, WI	3.0	1.0	1100	$1,650	$1.50	44d	1	0.46mi
5812 N 93rd St Unit 5812 Milwaukee, WI	3.0	1.0	995	$1,200	$1.21	17d	1	0.56mi
7632 W Leon Ter Unit C Milwaukee, WI	2.0	1.5	1000	$1,200	$1.20	24d	1	0.61mi
5530 N 76th St Apt 8 Milwaukee, WI	1.0	1.0	900	$995	$1.11	44d	1	0.64mi
5721 N 94th St Milwaukee, WI	2.0	1.0	1050	$1,175	$1.12	15d	2	0.65mi
6320 N 91st St Unit 3a Milwaukee, WI	2.0	1.5	1000	$1,095	$1.09	24d	1	0.85mi
6330 N 91st St Milwaukee, WI	2.0	1.5	1000	$1,095	$1.09	24d	1	0.86mi
9800 W Menomonee Park Ct Milwaukee, WI	2.0	1.5	850	$970	$1.14	4d	1	0.89mi
8750 W Mill Rd Milwaukee, WI	2.0	1.5	850	$1,150	$1.35	4d	2	0.89mi
9520 W Fond du Lac Ave Unit 1 Milwaukee, WI	2.0	1.0	750	$975	$1.30	44d	1	1.00mi
6333 N Denmark St Unit 9575-03 Milwaukee, WI	1.0	1.0	700	$900	$1.29	16d	1	1.03mi
6333 N Denmark St Unit 6333-14 Milwaukee, WI	2.0	1.5	925	$1,050	$1.14	15d	1	1.03mi
6333 N Denmark St Unit 6333-10 Milwaukee, WI	2.0	1.5	850	$1,050	$1.24	44d	1	1.03mi
6333 N Denmark St Unit 6333-08 Milwaukee, WI	2.0	1.5	925	$1,050	$1.14	24d	1	1.03mi
7348 W Medford Ave Unit 7348A Milwaukee, WI	2.0	1.0	1095	$950	$0.87	24d	1	1.03mi
5950 N 69th St Unit 1 Milwaukee, WI	2.0	1.0	1100	$1,100	$1.00	44d	1	1.05mi
5956 N 67th St Milwaukee, WI	2.0	1.0	925	$1,250	$1.35	44d	1	1.18mi
5958 N 67th St Milwaukee, WI	2.0	1.0	925	$1,250	$1.35	4d	1	1.18mi
5905 N 66th St Unit 66th Lower Milwaukee, WI	3.0	1.0	1000	$1,600	$1.60	16d	1	1.19mi
5823 N 65th St Unit Upper Milwaukee, WI	2.0	1.0	768	$1,295	$1.69	44d	1	1.24mi
5831 N 65th St Unit 5831 Milwaukee, WI	3.0	1.0	900	$1,195	$1.33	44d	1	1.24mi
5820 N 65th St #5822 Milwaukee, WI	2.0	1.0	700	$1,245	$1.78	44d	1	1.27mi
7701 W Hampton Ave Unit 6 Milwaukee, WI	2.0	1.0	816	$1,250	$1.53	44d	1	1.27mi
5659 N 64th St Unit 5659A Milwaukee, WI	2.0	1.0	1091	$1,300	$1.19	44d	1	1.30mi
4843 N 72nd St Milwaukee, WI	3.0	1.0	1014	$1,485	$1.46	44d	1	1.33mi
6221 W Thurston Ave #6223 Milwaukee, WI	3.0	1.0	800	$1,100	$1.38	20d	1	1.42mi
10628 W Bobolink Ave Milwaukee, WI	2.0	1.0	725	$1,195	$1.65	2d	1	1.42mi
10628 W Bobolink Ave Milwaukee, WI	2.0	1.0	700	$1,295	$1.85	15d	1	1.42mi
10431 W Rohr Ave Milwaukee, WI	3.0	1.0	1010	$2,000	$1.98	3d	1	1.43mi
8043 W Appleton Ave Milwaukee, WI	2.0	1.0	900	$1,200	$1.33	15d	1	1.46mi

Listing history 8 events

1. 2026-05-06
   status Pending 121-char remark

   Show marketing remark (121 chars)

   This is a tax foreclosed property. Offers reviewed upon receipt - no waiting period. Owner-Occupants will be prioritized.

2. 2026-04-10
   listed $40,000 Active 121-char remark

   Show marketing remark (121 chars)

   This is a tax foreclosed property. Offers reviewed upon receipt - no waiting period. Owner-Occupants will be prioritized.

3. 2026-03-02
   historical 384-char remark

   Show marketing remark (384 chars)

   This is a City Of Milwaukee Tax Foreclosure. Discover an incredible opportunity to own this 2-bedroom, 1-bath home. With a little TLC, this house can be made a home! Buyers must show proof of funds or financing to cover purchase price & essential repairs. Essential Repairs: $39,320 (Total Scope Of Work: $63,850). Hard Money Investor financing available. Reach out for details.

4. 2026-02-06
   price $40,000 384-char remark

   Show marketing remark (384 chars)

   This is a City Of Milwaukee Tax Foreclosure. Discover an incredible opportunity to own this 2-bedroom, 1-bath home. With a little TLC, this house can be made a home! Buyers must show proof of funds or financing to cover purchase price & essential repairs. Essential Repairs: $39,320 (Total Scope Of Work: $63,850). Hard Money Investor financing available. Reach out for details.

5. 2025-10-05
   listed $133,603 Active 384-char remark

   Show marketing remark (384 chars)

   This is a City Of Milwaukee Tax Foreclosure. Discover an incredible opportunity to own this 2-bedroom, 1-bath home. With a little TLC, this house can be made a home! Buyers must show proof of funds or financing to cover purchase price & essential repairs. Essential Repairs: $39,320 (Total Scope Of Work: $63,850). Hard Money Investor financing available. Reach out for details.

6. 2025-09-30
   status Pending
7. 2025-09-30
   historical
8. 2025-08-29
   listed $133,603 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥101°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: $14,671
• − Mortgage interest: −$2,241
• − Property taxes: −$600
• − Insurance: −$200
• − Repairs & maintenance: −$1,174
• − Management: −$1,174
• − Depreciation: −$1,164
• Taxable income: $8,120
• Est. tax owed @ 24.0%: −$1,949
• After-tax cash flow: $6,324/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): 25,187
• Household income: $56,545
• Rent vs Own: 60.1% rent · 39.9% own
• Severe rent burden: 1391.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: Black 58% White 26% Two or more races 7% Asian 6% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 2% Lithuanian 2% Iranian 1%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 89% English-only · Other Asian/Pacific 4% Spanish 3% Other Indo-European 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: ▼ -70.59%
• Current HPI: 264.1941
• Rent YoY: ▲ 7.14%
• 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

-70.1% since first listed

8 events — show timeline

• 2026-05-06 Pending — METROMLS
• 2026-04-10 Listed $40,000 METROMLS
• 2026-03-02 Listing Removed — METROMLS
• 2026-02-06 Price Changed $40,000 METROMLS
• 2025-10-05 Listed $133,603 METROMLS
• 2025-09-30 Pending — METROMLS
• 2025-09-30 Listing Removed — METROMLS
• 2025-08-29 Listed $133,603 METROMLS

Property tax history

+0.7%/yr

Latest (2024): $2,586 · -30.8% YoY. Source: county tax records.