5224 N 47th St · Milwaukee, WI 53218

$136,900

3 bd · 1.0 ba · 920 sqft · SingleFamily public records · 110 Days on market

Built 1949 4,791 sqft lot $149/sqft · 43% above area Est $96k · 43% over

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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 +19.5/30.0
• DSCR +6.1/10.0
• 1% rule +5.2/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This inviting three-bedroom Cape Cod residence in Milwaukee presents an excellent opportunity for both homeowners and investors. Featuring a spacious two-car garage & parking slab. New roof in 2024, Newer windows, furnace and water heater. . Hardwood floors under carpet. This property combines classic charm with essential modern updates, making it a versatile choice for a comfortable family home or a reliable income-generating asset. Property is rented MTM.

Key facts

• Newer windows
• Two car garage
• New roof

Tags

• TWO CAR GARAGE
• NEW ROOF
• NEWER WINDOWS
• HARDWOOD FLOORS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $137k.

Deal economics

• At list price, monthly cash flow is $154 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $137k).
• Recommended offer: $125k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.6% 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); 152 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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).
• 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 $946 of loan paydown is wiped out by about $4k 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 110 days — a 9% lower offer ($125k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y 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.
• Current owner paid $24k; list at $137k implies a 459% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $124,579 (9.0% below list)

Questions for the listing agent

1. It's been on market 110 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — 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: 1.02% ✓
• Cap rate: 7.65%
• Cash-on-cash: 4.83%
• DSCR: 1.21
• GRM: 8.1

CMA / ARV

• ARV (median comp): $95,553
• List price: $136,900
• Delta: 43.27%
• 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
5267 N 48th St	0.11mi	3/1.0	932 (+1%)	1mo	$183,000	$196	92
5003 N 51st Blvd	0.40mi	3/1.0	934 (+2%)	1mo	$110,000	$118	78
4941 N Sherman Blvd	0.42mi	3/1.0	973 (+6%)	0mo	$110,000	$113	71
5243 N 46th St	0.04mi	2/1.0 (-1)	803 (-13%)	1mo	$135,000	$168	71
4752 N 44th St	0.64mi	2/1.0 (-1)	913 (-1%)	1mo	$160,000	$175	63
3908 W Hampton Ave	0.71mi	3/1.0	968 (+5%)	2mo	$90,000	$93	57
4868 N 52nd St	0.55mi	2/1.0 (-1)	850 (-8%)	2mo	$145,605	$171	55
4235 W Fairmount Ave	0.40mi	3/2.0	1,044 (+14%)	1mo	$150,000	$144	54
3733 W Fairmount Ave	0.64mi	2/1.0 (-1)	1,000 (+9%)	1mo	$100,000	$100	50
5479 N 53rd St	0.52mi	3/2.0	1,037 (+13%)	2mo	$214,000	$206	49
5269 N 57th St	0.66mi	3/1.0	1,033 (+12%)	2mo	$145,000	$140	48
5353 N 56th St	0.61mi	3/3.0	832 (-10%)	1mo	$125,000	$150	47

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: -6.2%
• Equity multiple: 0.76×
• Total profit: $-9,025
• Equity at exit: $20,412

10-year hold

• IRR: 6.1%
• Equity multiple: 1.50×
• Total profit: $19,118
• Equity at exit: $11,837

Cash invested: $38,332 (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: 152
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,403 high
• Mortgage (P&I): −$718
• Tax from tax record: −$179 /mo · $2,148/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $154

Break-even live

Break-even rent $1,208

Max offer price $136,900

Occupancy floor 84%

Sensitivity live

Price	-10% $232	-5% $193	+0% $154	+5% $116	+10% $77
Rent	-10% $43	-5% $99	+0% $154	+5% $210	+10% $265
Rate	-1.0pp $223	-0.5pp $189	base $154	+0.5pp $119	+1.0pp $83

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: $34,225
• Closing costs: $4,107
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4610 W Eggert Pl #4612 Milwaukee, WI	3.0	1.0	852	$1,095	$1.29	25d	1	0.13mi
5165-5167 N 45th St Unit 5165 Milwaukee, WI	3.0	1.0	1020	$1,200	$1.18	19d	1	0.15mi
4340 W Eggert Pl Milwaukee, WI	4.0	1.0	1066	$1,695	$1.59	25d	1	0.21mi
4334 W Eggert Pl Milwaukee, WI	4.0	1.0	1077	$1,695	$1.57	25d	1	0.22mi
5050 N 47th St Milwaukee, WI	2.0	1.0	1092	$1,700	$1.56	45d	1	0.24mi
5435 N 40th St Milwaukee, WI	2.0	1.0	850	$1,150	$1.35	19d	1	0.48mi
4852 N 48th St Unit 4852 Milwaukee, WI	2.0	1.0	830	$995	$1.20	3d	1	0.49mi
5696 N 42nd St Milwaukee, WI	4.0	1.0	1023	$1,495	$1.46	25d	1	0.67mi
4727 N 46th St Milwaukee, WI	3.0	1.0	936	$1,700	$1.82	45d	1	0.67mi
4703 N 45th St Milwaukee, WI	3.0	1.0	1031	$1,695	$1.64	25d	1	0.71mi
4702 N 44th St Milwaukee, WI	3.0	2.0	1050	$1,850	$1.76	45d	1	0.73mi
5237 N 34th St Unit 5237 Lower Milwaukee, WI	2.0	1.0	956	$1,350	$1.41	25d	1	0.79mi
5688 N 56th St Milwaukee, WI	3.0	1.0	850	$1,445	$1.70	14d	1	0.82mi
4640 N 51st Blvd Milwaukee, WI	2.0	1.0	1075	$1,275	$1.19	45d	1	0.83mi
4661 N 38th St Unit 4661 Milwaukee, WI	2.0	1.0	1000	$845	$0.84	16d	1	0.92mi
5657 N 60th St #5659 Milwaukee, WI	3.0	1.0	878	$995	$1.13	19d	1	0.95mi
5032 N 32nd St Milwaukee, WI	3.0	2.0	1089	$1,750	$1.61	14d	1	0.97mi
4479A N 44th St Milwaukee, WI	2.0	1.0	1000	$895	$0.90	45d	1	0.98mi
4651 N 36th St #4 Milwaukee, WI	2.0	1.0	747	$945	$1.27	25d	1	1.00mi
4572 N 38th St Unit 2 Milwaukee, WI	2.0	1.0	600	$950	$1.58	45d	1	1.02mi
6026 W Carmen Ave Milwaukee, WI	2.0	1.0	672	$1,195	$1.78	25d	1	1.06mi
6221 W Thurston Ave #6223 Milwaukee, WI	3.0	1.0	800	$1,100	$1.38	21d	1	1.07mi
5830 N 61st St Milwaukee, WI	3.0	1.0	1024	$1,450	$1.42	45d	1	1.10mi
5659 N 64th St Unit 5659A Milwaukee, WI	2.0	1.0	1091	$1,300	$1.19	45d	1	1.16mi
6110 N 39th St Milwaukee, WI	2.0	1.0	703	$1,395	$1.98	6d	1	1.24mi
6518 W Hampton Ave Unit 2 Milwaukee, WI	2.0	1.0	1100	$1,200	$1.09	45d	1	1.25mi
6148 N 39th St Milwaukee, WI	2.0	1.0	792	$1,175	$1.48	45d	1	1.29mi
5820 N 65th St #5822 Milwaukee, WI	2.0	1.0	700	$1,245	$1.78	45d	1	1.29mi
5823 N 65th St Unit Upper Milwaukee, WI	2.0	1.0	768	$1,295	$1.69	45d	1	1.31mi
5831 N 65th St Unit 5831 Milwaukee, WI	3.0	1.0	900	$1,195	$1.33	45d	1	1.32mi
5905 N 66th St Unit 66th Lower Milwaukee, WI	3.0	1.0	1000	$1,600	$1.60	18d	1	1.42mi
5956 N 67th St Milwaukee, WI	2.0	1.0	925	$1,250	$1.35	45d	1	1.49mi
5958 N 67th St Milwaukee, WI	2.0	1.0	925	$1,250	$1.35	6d	1	1.49mi

Listing history 19 events

1. 2026-06-21
   days on market $136,900 Active 110 DOM
2. 2026-06-18
   days on market $136,900 Active 107 DOM
3. 2026-06-17
   days on market $136,900 Active 106 DOM
4. 2026-06-16
   days on market $136,900 Active 105 DOM
5. 2026-06-15
   days on market $136,900 Active 104 DOM
6. 2026-06-13
   days on market $136,900 Active 102 DOM
7. 2026-06-13
   days on market $136,900 Active 101 DOM
8. 2026-06-09
   days on market $136,900 Active 98 DOM
9. 2026-06-08
   days on market $136,900 Active 97 DOM
10. 2026-06-07
    days on market $136,900 Active 96 DOM
11. 2026-06-05
    days on market $136,900 Active 93 DOM
12. 2026-06-03
    days on market $136,900 Active 92 DOM
13. 2026-06-02
    days on market $136,900 Active 91 DOM
14. 2026-06-01
    days on market $136,900 Active 90 DOM
15. 2026-05-31
    days on market $136,900 Active 89 DOM
16. 2026-03-01
    listed $136,900 Active 467-char remark

    Show marketing remark (467 chars)

    This inviting three-bedroom Cape Cod residence in Milwaukee presents an excellent opportunity for both homeowners and investors. Featuring a spacious two-car garage & parking slab. New roof in 2024, Newer windows, furnace and water heater. . Hardwood floors under carpet. This property combines classic charm with essential modern updates, making it a versatile choice for a comfortable family home or a reliable income-generating asset. Property is rented MTM.

17. 2014-02-14
    listed $29,900 205-char remark

    Show marketing remark (205 chars)

    Attention landlords and rehabbers!!! A little work will go a long way!! It won't take much to get this up and running. 3 bedrooms. Clean. HWF's. Updated windows. Sold in as-is condition. NOT A FORECLOSURE!

18. 2014-02-14
    historical 205-char remark

    Show marketing remark (205 chars)

    Attention landlords and rehabbers!!! A little work will go a long way!! It won't take much to get this up and running. 3 bedrooms. Clean. HWF's. Updated windows. Sold in as-is condition. NOT A FORECLOSURE!

19. 2010-11-05
    soldstatus $24,500 205-char remark

    Show marketing remark (205 chars)

    Attention landlords and rehabbers!!! A little work will go a long way!! It won't take much to get this up and running. 3 bedrooms. Clean. HWF's. Updated windows. Sold in as-is condition. NOT A FORECLOSURE!

ⓘ 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: $2,148 · $179/mo
• Projected year-2 tax: $2,340 · $195/mo
• Expected delta: +$192/yr (+$16/mo · 8.9%)

ⓘ 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: $16,834
• − Mortgage interest: −$7,669
• − Property taxes: −$2,148
• − Insurance: −$684
• − Repairs & maintenance: −$1,347
• − Management: −$1,347
• − Depreciation: −$3,983
• Taxable loss: −$343
• Est. tax savings @ 24.0%: +$82
• After-tax cash flow: $1,934/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

+458.8% since first listed

4 events — show timeline

• 2026-03-01 Listed $136,900 METROMLS
• 2014-02-14 Listing Removed — METROMLS
• 2014-02-14 Listed $29,900 METROMLS
• 2010-11-05 Sold (MLS) $24,500 METROMLS

Property tax history

+5.0%/yr

Latest (2024): $2,148 · +28.3% YoY. Source: county tax records.