5331 N 37th St · Milwaukee, WI 53209

$134,900

3 bd · 1.0 ba · 1,306 sqft · SingleFamily public records · 70 Days on market

Built 1929 4,791 sqft lot Est $133k · 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 +11.8/30.0
• ARV discount +6.9/15.0
• 1% rule +6.2/10.0
• Rent growth +4.7/5.0
• Livability +4.0/5.0
• DSCR +3.5/10.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great home for a growing family! Same owner for many years. Beautiful BICC, HWF's--lot's of uncovered potential just waiting for your cosmetic upgrades! Two bedrooms upstairs are walk-throughs. Attic storage and very functional basement too! This estate sale also includes a stove, refrigerator, washer, dryer, pool table, and ping-pong table. THIS IS A STEAL!! MUST SELL--MAKE OFFER--INSTANT EQUITY!

Key facts

• Spacious pantry
• Arched doorways
• Updated kitchen

Tags

• HARDWOOD FLOORS
• ARCHED DOORWAYS
• BUILT-IN BOOKCASE
• AMPLE STORAGE
• UPDATED KITCHEN
• SPACIOUS PANTRY

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $-37 ($-440/yr) — negative.
• To cash-flow at today's rent, offer at most $128k (4.8% below list).
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $127k (6.0% below list) — sets the bar for market timing.

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); 168 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $933 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 70 days — a 6% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $75k; list at $135k implies a 80% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.2% of price; built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $126,806 (6.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.12% ✓
• Cap rate: 5.97%
• Cash-on-cash: -1.16%
• DSCR: 0.95
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $133,212
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5331 N 37th St	0.00mi	3/1.0	1,306 (0%)	0mo	$133,000	$102	100
5324 N 34th St	0.21mi	4/1.0 (+1)	1,324 (+1%)	2mo	$75,000	$57	81
5378 N 36th St	0.11mi	4/2.0 (+1)	1,345 (+3%)	1mo	$165,000	$123	80
5460 N 37th St	0.17mi	3/1.0	1,436 (+10%)	2mo	$125,000	$87	74
4926 N 37th St	0.51mi	3/1.0	1,357 (+4%)	2mo	$138,500	$102	68
5549 N 33rd St	0.37mi	3/2.5	1,241 (-5%)	3mo	$176,000	$142	66
3223 W Fairmount Ave	0.52mi	4/1.0 (+1)	1,358 (+4%)	3mo	$124,000	$91	61
5403 N 37th St	0.09mi	4/1.5 (+1)	1,498 (+15%)	4mo	$129,000	$86	61
5324 N 49th St	0.73mi	3/1.0	1,269 (-3%)	1mo	$130,000	$102	61
5730 N 35th St	0.55mi	2/1.0 (-1)	1,216 (-7%)	4mo	$162,000	$133	55
5876 N 42nd St	0.74mi	4/1.5 (+1)	1,283 (-2%)	4mo	$140,000	$109	52
3207 W Oriole Dr	0.69mi	3/1.0	1,194 (-9%)	4mo	$179,000	$150	50

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: -11.0%
• Equity multiple: 0.58×
• Total profit: $-15,981
• Equity at exit: $20,114

10-year hold

• IRR: 5.7%
• Equity multiple: 1.54×
• Total profit: $20,356
• Equity at exit: $11,664

Cash invested: $37,772 (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 53209

• Rents YoY: 8.6%
• Active inventory: 168
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,515 high
• Mortgage (P&I): −$707
• Tax from tax record: −$470 /mo · $5,635/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $-37

Break-even live

Break-even rent $1,561

Max offer price $128,428

Occupancy floor 97%

Sensitivity live

Price	-10% $40	-5% $2	+0% $-37	+5% $-75	+10% $-113
Rent	-10% $-156	-5% $-96	+0% $-37	+5% $23	+10% $83
Rate	-1.0pp $31	-0.5pp $-2	base $-37	+0.5pp $-72	+1.0pp $-107

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5237 N 34th St Unit 5237 Lower Milwaukee, WI	2.0	1.0	956	$1,350	$1.41	24d	1	0.20mi
5541 N 35th St #5543 Milwaukee, WI	3.0	1.0	1130	$1,195	$1.06	5d	1	0.33mi
5032 N 32nd St Milwaukee, WI	3.0	2.0	1089	$1,750	$1.61	13d	1	0.47mi
4334 W Eggert Pl Milwaukee, WI	4.0	1.0	1077	$1,695	$1.57	24d	1	0.48mi
4340 W Eggert Pl Milwaukee, WI	4.0	1.0	1066	$1,695	$1.59	24d	1	0.49mi
5165-5167 N 45th St Unit 5165 Milwaukee, WI	3.0	1.0	1020	$1,200	$1.18	17d	1	0.55mi
5696 N 42nd St Milwaukee, WI	4.0	1.0	1023	$1,495	$1.46	24d	1	0.57mi
5050 N 47th St Milwaukee, WI	2.0	1.0	1092	$1,700	$1.56	44d	1	0.69mi
5884 N 35th St Milwaukee, WI	2.0	1.0	1200	$1,500	$1.25	44d	1	0.76mi
5073 N 48th St Milwaukee, WI	4.0	1.0	1152	$1,595	$1.38	15d	1	0.76mi
4661 N 38th St Unit 4661 Milwaukee, WI	2.0	1.0	1000	$845	$0.84	15d	1	0.82mi
4702 N 44th St Milwaukee, WI	3.0	2.0	1050	$1,850	$1.76	44d	1	0.90mi
4703 N 45th St Milwaukee, WI	3.0	1.0	1031	$1,695	$1.64	24d	1	0.94mi
4727 N 46th St Milwaukee, WI	3.0	1.0	936	$1,700	$1.82	44d	1	0.95mi
3931 W Kaul Ave Milwaukee, WI	3.0	1.0	1400	$1,695	$1.21	44d	1	1.03mi
4479A N 44th St Milwaukee, WI	2.0	1.0	1000	$895	$0.90	44d	1	1.15mi
4640 N 51st Blvd Milwaukee, WI	2.0	1.0	1075	$1,275	$1.19	44d	1	1.23mi
4355 N 28th St Milwaukee, WI	2.0	1.0	1118	$975	$0.87	22d	1	1.33mi
4900 N 58th St Milwaukee, WI	3.0	1.0	1455	$1,450	$1.00	5d	1	1.40mi
5657 N 60th St #5659 Milwaukee, WI	3.0	1.0	878	$995	$1.13	17d	1	1.47mi

Listing history 9 events

1. 2026-04-22
   status Pending
2. 2026-04-02
   price $134,900
3. 2026-03-27
   price $139,900
4. 2026-03-06
   price $144,900
5. 2026-02-10
   listed $149,900 Active
6. 2021-08-16
   soldstatus $75,000
7. 2007-10-05
   soldstatus $74,000
8. 2007-10-03
   soldstatus $74,000 400-char remark

   Show marketing remark (400 chars)

   Great home for a growing family! Same owner for many years. Beautiful BICC, HWF's--lot's of uncovered potential just waiting for your cosmetic upgrades! Two bedrooms upstairs are walk-throughs. Attic storage and very functional basement too! This estate sale also includes a stove, refrigerator, washer, dryer, pool table, and ping-pong table. THIS IS A STEAL!! MUST SELL--MAKE OFFER--INSTANT EQUITY!

9. 2006-12-15
   soldstatus $108,900 324-char remark

   Show marketing remark (324 chars)

   Charming bungalow with sunroom, hardwood floors, and builtin china cabinet in dining room. Estate sale. Sold as is. Seller will leave stove, refrigerator, washer, dryer, pool table, and pingpong table. Two walk through bedrooms upstairs. Lots of attic storage. Room sizes are estimated. Seller may assist with closing costs.

ⓘ 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: $5,635 · $470/mo
• Projected year-2 tax: $5,635 · $470/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 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: $18,176
• − Mortgage interest: −$7,556
• − Property taxes: −$5,635
• − Insurance: −$674
• − Repairs & maintenance: −$1,454
• − Management: −$1,454
• − Depreciation: −$3,924
• Taxable loss: −$2,523
• Est. tax savings @ 24.0%: +$605
• After-tax cash flow: $166/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

+23.9% since first listed

9 events — show timeline

• 2026-04-22 Pending — METROMLS
• 2026-04-02 Price Changed $134,900 METROMLS
• 2026-03-27 Price Changed $139,900 METROMLS
• 2026-03-06 Price Changed $144,900 METROMLS
• 2026-02-10 Listed $149,900 METROMLS
• 2021-08-16 Sold (Public Records) $75,000 Public Records
• 2007-10-05 Sold (Public Records) $74,000 Public Records
• 2007-10-03 Sold (MLS) $74,000 METROMLS
• 2006-12-15 Sold (MLS) $108,900 METROMLS

Property tax history

+12.5%/yr

Latest (2024): $5,635 · +150.5% YoY. Source: county tax records.