5506 N 34th St · Milwaukee, WI 53209

$178,500

3 bd · 1.0 ba · 1,462 sqft · SingleFamily public records · 184 Days on market

Built 1925 3,484 sqft lot $122/sqft · at area comps Est $176k · at est.

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Why this score? — see what drove the D 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 +14.2/30.0
• ARV discount +7.0/15.0
• Rent growth +4.7/5.0
• DSCR +4.3/10.0
• Livability +4.0/5.0
• 1% rule +3.3/10.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor alert! Updated 4-bedroom home located right next to Smith Park--a great addition to any rental portfolio. This property features durable LVP flooring, newer kitchen cabinets, and a modernized bathroom, minimizing maintenance for years to come. The layout includes a walk-through flex room ideal for office or storage use. Tenants enjoy a fenced yard, two-car garage, and proximity to schools, public transit, and shopping. Currently tenant-occupied with consistent rent history, this turnkey property offers strong returns and long-term rental stability in a convenient Milwaukee location. Monthly Rent $1,845 Lease End Date 5/31/26

Key facts

• Fenced yard
• Modernized bathroom
• Updated home

Tags

• UPDATED HOME
• DURABLE LVP FLOORING
• NEWER KITCHEN CABINETS
• MODERNIZED BATHROOM
• WALK-THROUGH FLEX ROOM
• FENCED YARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $178k.

Deal economics

• At list price, monthly cash flow is $30 ($358/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 $149k (16.6% below list).
• Recommended offer: $149k (16.6% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 5.1% in Milwaukee — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 184 days — a 12% lower offer ($157k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y 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 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $148,874 (16.6% below list)

Questions for the listing agent

1. It's been on market 184 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.83% ✗
• Cap rate: 6.49%
• Cash-on-cash: 0.72%
• DSCR: 1.03
• GRM: 10.0

CMA / ARV

• ARV (median comp): $176,382
• List price: $178,500
• Delta: 1.20%
• 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
5460 N 37th St	0.19mi	3/1.0	1,436 (-2%)	2mo	$125,000	$87	86
5403 N 37th St	0.25mi	4/1.5 (+1)	1,498 (+2%)	4mo	$129,000	$86	74
5378 N 36th St	0.20mi	4/2.0 (+1)	1,345 (-8%)	1mo	$165,000	$123	68
5331 N 37th St	0.31mi	3/1.0	1,306 (-11%)	0mo	$133,000	$102	67
5324 N 34th St	0.22mi	4/1.0 (+1)	1,324 (-9%)	2mo	$75,000	$57	67
5936 N 35th St	0.55mi	3/1.0	1,358 (-7%)	1mo	$163,000	$120	62
5312 N 36th St	0.27mi	4/2.0 (+1)	1,638 (+12%)	1mo	$201,000	$123	58
6025 N 35th St	0.67mi	4/2.0 (+1)	1,505 (+3%)	2mo	$112,000	$74	53
5713 N Argyle Ave	0.67mi	3/1.0	1,321 (-10%)	1mo	$250,000	$189	52
3223 W Fairmount Ave	0.67mi	4/1.0 (+1)	1,358 (-7%)	3mo	$124,000	$91	50
2336 W Lawn Ave	0.72mi	3/1.5	1,613 (+10%)	3mo	$237,000	$147	45
5876 N 42nd St	0.68mi	4/1.5 (+1)	1,283 (-12%)	4mo	$140,000	$109	38

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: -10.1%
• Equity multiple: 0.62×
• Total profit: $-19,189
• Equity at exit: $26,615

10-year hold

• IRR: 4.8%
• Equity multiple: 1.43×
• Total profit: $21,418
• Equity at exit: $15,433

Cash invested: $49,980 (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: 10.0×

Monthly cashflow live

• Estimated rent: $1,489 high
• Mortgage (P&I): −$936
• Tax from tax record: −$136 /mo · $1,630/yr
• Insurance: −$74
• HOA: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $30

Break-even live

Break-even rent $1,451

Max offer price $178,500

Occupancy floor 93%

Sensitivity live

Price	-10% $131	-5% $80	+0% $30	+5% $-21	+10% $-71
Rent	-10% $-88	-5% $-29	+0% $30	+5% $89	+10% $147
Rate	-1.0pp $120	-0.5pp $75	base $30	+0.5pp $-16	+1.0pp $-63

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: $44,625
• Closing costs: $5,355
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5541 N 35th St #5543 Milwaukee, WI	3.0	1.0	1130	$1,195	$1.06	6d	1	0.09mi
5237 N 34th St Unit 5237 Lower Milwaukee, WI	2.0	1.0	956	$1,350	$1.41	25d	1	0.36mi
5884 N 35th St Milwaukee, WI	2.0	1.0	1200	$1,500	$1.25	45d	1	0.46mi
5696 N 42nd St Milwaukee, WI	4.0	1.0	1023	$1,495	$1.46	25d	1	0.53mi
5032 N 32nd St Milwaukee, WI	3.0	2.0	1089	$1,750	$1.61	14d	1	0.63mi
4334 W Eggert Pl Milwaukee, WI	4.0	1.0	1077	$1,695	$1.57	25d	1	0.80mi
4340 W Eggert Pl Milwaukee, WI	4.0	1.0	1066	$1,695	$1.59	25d	1	0.80mi
3931 W Kaul Ave Milwaukee, WI	3.0	1.0	1400	$1,695	$1.21	45d	1	0.82mi
5165-5167 N 45th St Unit 5165 Milwaukee, WI	3.0	1.0	1020	$1,200	$1.18	19d	1	0.86mi
5050 N 47th St Milwaukee, WI	2.0	1.0	1092	$1,700	$1.56	45d	1	1.00mi
5073 N 48th St Milwaukee, WI	4.0	1.0	1152	$1,595	$1.38	16d	1	1.06mi
4661 N 38th St Unit 4661 Milwaukee, WI	2.0	1.0	1000	$845	$0.84	16d	1	1.13mi
4702 N 44th St Milwaukee, WI	3.0	2.0	1050	$1,850	$1.76	45d	1	1.24mi
4703 N 45th St Milwaukee, WI	3.0	1.0	1031	$1,695	$1.64	25d	1	1.29mi
4727 N 46th St Milwaukee, WI	3.0	1.0	936	$1,700	$1.82	45d	1	1.30mi
6600 N Sidney Pl Glendale, WI	1.0–2.0	1.0	800	$1,587	$1.98	4d	13	1.42mi
1633 W Bender Rd Apt 11C Glendale, WI	2.0	2.0	1000	$1,725	$1.73	25d	1	1.42mi
4479A N 44th St Milwaukee, WI	2.0	1.0	1000	$895	$0.90	45d	1	1.49mi

Listing history 17 events

1. 2026-05-31
   days on market $178,500 Active 184 DOM
2. 2026-03-09
   status Active 641-char remark

   Show marketing remark (641 chars)

   Investor alert! Updated 4-bedroom home located right next to Smith Park--a great addition to any rental portfolio. This property features durable LVP flooring, newer kitchen cabinets, and a modernized bathroom, minimizing maintenance for years to come. The layout includes a walk-through flex room ideal for office or storage use. Tenants enjoy a fenced yard, two-car garage, and proximity to schools, public transit, and shopping. Currently tenant-occupied with consistent rent history, this turnkey property offers strong returns and long-term rental stability in a convenient Milwaukee location. Monthly Rent $1,845 Lease End Date 5/31/26

3. 2026-03-01
   historical 641-char remark

   Show marketing remark (641 chars)

   Investor alert! Updated 4-bedroom home located right next to Smith Park--a great addition to any rental portfolio. This property features durable LVP flooring, newer kitchen cabinets, and a modernized bathroom, minimizing maintenance for years to come. The layout includes a walk-through flex room ideal for office or storage use. Tenants enjoy a fenced yard, two-car garage, and proximity to schools, public transit, and shopping. Currently tenant-occupied with consistent rent history, this turnkey property offers strong returns and long-term rental stability in a convenient Milwaukee location. Monthly Rent $1,845 Lease End Date 5/31/26

4. 2026-01-29
   price $178,500 641-char remark

   Show marketing remark (641 chars)

   Investor alert! Updated 4-bedroom home located right next to Smith Park--a great addition to any rental portfolio. This property features durable LVP flooring, newer kitchen cabinets, and a modernized bathroom, minimizing maintenance for years to come. The layout includes a walk-through flex room ideal for office or storage use. Tenants enjoy a fenced yard, two-car garage, and proximity to schools, public transit, and shopping. Currently tenant-occupied with consistent rent history, this turnkey property offers strong returns and long-term rental stability in a convenient Milwaukee location. Monthly Rent $1,845 Lease End Date 5/31/26

5. 2025-11-20
   listed $182,500 Active 641-char remark

   Show marketing remark (641 chars)

   Investor alert! Updated 4-bedroom home located right next to Smith Park--a great addition to any rental portfolio. This property features durable LVP flooring, newer kitchen cabinets, and a modernized bathroom, minimizing maintenance for years to come. The layout includes a walk-through flex room ideal for office or storage use. Tenants enjoy a fenced yard, two-car garage, and proximity to schools, public transit, and shopping. Currently tenant-occupied with consistent rent history, this turnkey property offers strong returns and long-term rental stability in a convenient Milwaukee location. Monthly Rent $1,845 Lease End Date 5/31/26

6. 2025-11-19
   historical 598-char remark

   Show marketing remark (598 chars)

   Investor alert! Updated 4-bedroom home located right next to Smith Park--a great addition to any rental portfolio. This property features durable LVP flooring, newer kitchen cabinets, and a modernized bathroom, minimizing maintenance for years to come. The layout includes a walk-through flex room ideal for office or storage use. Tenants enjoy a fenced yard, two-car garage, and proximity to schools, public transit, and shopping. Currently tenant-occupied with consistent rent history, this turnkey property offers strong returns and long-term rental stability in a convenient Milwaukee location.

7. 2025-11-13
   price $189,900 598-char remark

   Show marketing remark (598 chars)

   Investor alert! Updated 4-bedroom home located right next to Smith Park--a great addition to any rental portfolio. This property features durable LVP flooring, newer kitchen cabinets, and a modernized bathroom, minimizing maintenance for years to come. The layout includes a walk-through flex room ideal for office or storage use. Tenants enjoy a fenced yard, two-car garage, and proximity to schools, public transit, and shopping. Currently tenant-occupied with consistent rent history, this turnkey property offers strong returns and long-term rental stability in a convenient Milwaukee location.

8. 2025-11-06
   listed $199,900 Active 598-char remark

   Show marketing remark (598 chars)

   Investor alert! Updated 4-bedroom home located right next to Smith Park--a great addition to any rental portfolio. This property features durable LVP flooring, newer kitchen cabinets, and a modernized bathroom, minimizing maintenance for years to come. The layout includes a walk-through flex room ideal for office or storage use. Tenants enjoy a fenced yard, two-car garage, and proximity to schools, public transit, and shopping. Currently tenant-occupied with consistent rent history, this turnkey property offers strong returns and long-term rental stability in a convenient Milwaukee location.

9. 2024-06-07
   historical $1,845
10. 2024-04-23
    listed $1,845
11. 2023-02-21
    soldstatus $164,900
12. 2022-07-01
    soldstatus $150,000
13. 2022-06-17
    soldstatus $420,000
14. 2015-03-19
    soldstatus $28,750 Sold
15. 2015-03-05
    status Pending
16. 2015-03-01
    listed $25,900 Active
17. 1987-04-01
    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: $1,630 · $136/mo
• Projected year-2 tax: $2,466 · $206/mo
• Expected delta: +$836/yr (+$70/mo · 51.3%)

ⓘ 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 ≥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: $17,865
• − Mortgage interest: −$9,999
• − Property taxes: −$1,630
• − Insurance: −$892
• − Repairs & maintenance: −$1,429
• − Management: −$1,429
• − Depreciation: −$5,193
• Taxable loss: −$2,708
• Est. tax savings @ 24.0%: +$650
• After-tax cash flow: $1,008/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

+363.6% since first listed

16 events — show timeline

• 2026-03-09 Relisted — METROMLS
• 2026-03-01 Listing Removed — METROMLS
• 2026-01-29 Price Changed $178,500 METROMLS
• 2025-11-20 Listed $182,500 METROMLS
• 2025-11-19 Listing Removed — METROMLS
• 2025-11-13 Price Changed $189,900 METROMLS
• 2025-11-06 Listed $199,900 METROMLS
• 2024-06-07 Rental Removed $1,845 APPFOLIO
• 2024-04-23 Listed for Rent $1,845 APPFOLIO
• 2023-02-21 Sold (Public Records) $164,900 Public Records
• 2022-07-01 Sold (Public Records) $150,000 Public Records
• 2022-06-17 Sold (Public Records) $420,000 Public Records
• 2015-03-19 Sold (MLS) $28,750 METROMLS
• 2015-03-05 Pending — METROMLS
• 2015-03-01 Listed $25,900 METROMLS
• 1987-04-01 Sold (Public Records) $38,500 Public Records

Property tax history

+2.2%/yr

Latest (2024): $1,630 · +10.6% YoY. Source: county tax records.