2336 S 9th Pl · Milwaukee, WI 53215

$140,000

5 bd · 2.0 ba · 1,981 sqft · MultiFamily public records · 199 Days on market

Built 1905 3,484 sqft lot $71/sqft · 24% below area Est $184k · 24% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

EASY TO SHOW LOWER UNIT NOW VACANT AND A MOTIVATED SELLER LOOKING FOR OFFERS; 3/2 DUPLEX WITH PARKING; M-T-M RENT $950+ EACH UNIT??; ALLEY ENTRANCE LEAVES ROOM FOR PARKING 3-6 CARS; SOLID INVESTMENT PROPERTY READY FOR A NEW OWNER; MARKETED AS-IS; ALL ROOMS SIZES ARE ESTIMATED; SQ FOOTAGE PER CITY

Key facts

• 3,484 sq ft lot
• 3 garage spots
• Built 1905

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $140k.

Deal economics

• At list price, monthly cash flow is $681 ($8k/yr) — positive. Per door: $340/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.1% 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 (+5.0%/yr); 56 active listings in the ZIP; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $2,043/mo this rent would consume 45% of the median local household income ($54k/yr) (locally 2283% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 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.
• At projected returns (-3.0% appreciation + 5.0% rent growth), your $39k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 199 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $39k; list at $140k implies a 259% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 199 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.46% ✓
• Cap rate: 12.13%
• Cash-on-cash: 20.84%
• DSCR: 1.93
• GRM: 5.7

CMA / ARV

• ARV (median comp): $183,899
• List price: $140,000
• Delta: -23.87%
• 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
2415 S 9th St Unit 2415A	0.08mi	5/2.0	2,124 (+7%)	0mo	$190,000	$89	84
2439 S 8th St	0.15mi	5/2.0	2,101 (+6%)	3mo	$171,000	$81	81
2239 S 11th St	0.18mi	4/2.0 (-1)	1,920 (-3%)	4mo	$260,000	$135	78
2431 S 9th Pl Unit 2431A	0.11mi	4/2.0 (-1)	2,100 (+6%)	5mo	$255,000	$121	76
2119 S 14th St	0.43mi	5/2.0	1,968 (-1%)	3mo	$220,000	$112	76
2411 S 12th St	0.22mi	4/2.0 (-1)	1,916 (-3%)	5mo	$125,000	$65	75
2600 S 9th St Unit 2600A	0.32mi	6/2.0 (+1)	2,080 (+5%)	1mo	$210,000	$101	71
2673 S 14th St	0.54mi	6/2.0 (+1)	1,972 (-0%)	1mo	$250,000	$127	69
2660 S 10th St Unit 2660A	0.40mi	6/2.0 (+1)	2,070 (+4%)	2mo	$206,000	$100	67
2034 S 15th St Unit 2034A	0.53mi	6/2.0 (+1)	2,146 (+8%)	6mo	$217,900	$102	52
2322 S 15th Pl	0.45mi	5/2.0	1,694 (-14%)	4mo	$265,000	$156	52
2370 S 18th St	0.61mi	6/2.0 (+1)	2,156 (+9%)	5mo	$153,000	$71	48

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 · 5.02% rent growth · sell at horizon

5-year hold

• IRR: 15.4%
• Equity multiple: 1.64×
• Total profit: $24,911
• Equity at exit: $20,874

10-year hold

• IRR: 25.5%
• Equity multiple: 3.44×
• Total profit: $95,668
• Equity at exit: $12,105

Cash invested: $39,200 (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 53215

• Home prices YoY: -13.6%
• Rents YoY: 5.0%
• Active inventory: 56
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $2,043 high
• Mortgage (P&I): −$734
• Tax from tax record: −$141 /mo · $1,690/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$429
• Net cashflow: $681

Break-even live

Break-even rent $1,181

Max offer price $140,000

Occupancy floor 62%

Sensitivity live

Price	-10% $760	-5% $720	+0% $681	+5% $641	+10% $601
Rent	-10% $519	-5% $600	+0% $681	+5% $761	+10% $842
Rate	-1.0pp $751	-0.5pp $716	base $681	+0.5pp $644	+1.0pp $607

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,044
Total (2 units)			$2,043

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-05
   days on market $140,000 Active 199 DOM
2. 2026-06-03
   days on market $140,000 Active 198 DOM
3. 2026-06-02
   days on market $140,000 Active 197 DOM
4. 2026-06-01
   days on market $140,000 Active 196 DOM
5. 2026-05-31
   days on market $140,000 Active 195 DOM
6. 2026-05-18
   status Active 297-char remark

   Show marketing remark (297 chars)

   EASY TO SHOW LOWER UNIT NOW VACANT AND A MOTIVATED SELLER LOOKING FOR OFFERS; 3/2 DUPLEX WITH PARKING; M-T-M RENT $950+ EACH UNIT??; ALLEY ENTRANCE LEAVES ROOM FOR PARKING 3-6 CARS; SOLID INVESTMENT PROPERTY READY FOR A NEW OWNER; MARKETED AS-IS; ALL ROOMS SIZES ARE ESTIMATED; SQ FOOTAGE PER CITY

7. 2026-05-18
   historical 297-char remark

   Show marketing remark (297 chars)

   EASY TO SHOW LOWER UNIT NOW VACANT AND A MOTIVATED SELLER LOOKING FOR OFFERS; 3/2 DUPLEX WITH PARKING; M-T-M RENT $950+ EACH UNIT??; ALLEY ENTRANCE LEAVES ROOM FOR PARKING 3-6 CARS; SOLID INVESTMENT PROPERTY READY FOR A NEW OWNER; MARKETED AS-IS; ALL ROOMS SIZES ARE ESTIMATED; SQ FOOTAGE PER CITY

8. 2025-12-13
   price $140,000 297-char remark

   Show marketing remark (297 chars)

   EASY TO SHOW LOWER UNIT NOW VACANT AND A MOTIVATED SELLER LOOKING FOR OFFERS; 3/2 DUPLEX WITH PARKING; M-T-M RENT $950+ EACH UNIT??; ALLEY ENTRANCE LEAVES ROOM FOR PARKING 3-6 CARS; SOLID INVESTMENT PROPERTY READY FOR A NEW OWNER; MARKETED AS-IS; ALL ROOMS SIZES ARE ESTIMATED; SQ FOOTAGE PER CITY

9. 2025-11-17
   listed $150,000 Active 297-char remark

   Show marketing remark (297 chars)

   EASY TO SHOW LOWER UNIT NOW VACANT AND A MOTIVATED SELLER LOOKING FOR OFFERS; 3/2 DUPLEX WITH PARKING; M-T-M RENT $950+ EACH UNIT??; ALLEY ENTRANCE LEAVES ROOM FOR PARKING 3-6 CARS; SOLID INVESTMENT PROPERTY READY FOR A NEW OWNER; MARKETED AS-IS; ALL ROOMS SIZES ARE ESTIMATED; SQ FOOTAGE PER CITY

10. 2022-04-27
    historical 166-char remark

    Show marketing remark (166 chars)

    3/2 DUPLEX; RENTS $1350/MONTH; GREAT INVESTMENT OPPORTUNITY; NOTICE REQUIRED FOR TENANTS/SHOWINGS; SQ FOOTAGE PER TAX RECORDS; ALL ROOMS AND ROOM SIZES ARE ESTIMATED

11. 2022-04-12
    status Active 166-char remark

    Show marketing remark (166 chars)

    3/2 DUPLEX; RENTS $1350/MONTH; GREAT INVESTMENT OPPORTUNITY; NOTICE REQUIRED FOR TENANTS/SHOWINGS; SQ FOOTAGE PER TAX RECORDS; ALL ROOMS AND ROOM SIZES ARE ESTIMATED

12. 2022-04-02
    historical Contingent 166-char remark

    Show marketing remark (166 chars)

    3/2 DUPLEX; RENTS $1350/MONTH; GREAT INVESTMENT OPPORTUNITY; NOTICE REQUIRED FOR TENANTS/SHOWINGS; SQ FOOTAGE PER TAX RECORDS; ALL ROOMS AND ROOM SIZES ARE ESTIMATED

13. 2022-03-21
    price $110,000 166-char remark

    Show marketing remark (166 chars)

    3/2 DUPLEX; RENTS $1350/MONTH; GREAT INVESTMENT OPPORTUNITY; NOTICE REQUIRED FOR TENANTS/SHOWINGS; SQ FOOTAGE PER TAX RECORDS; ALL ROOMS AND ROOM SIZES ARE ESTIMATED

14. 2022-02-23
    listed $120,000 Active 166-char remark

    Show marketing remark (166 chars)

    3/2 DUPLEX; RENTS $1350/MONTH; GREAT INVESTMENT OPPORTUNITY; NOTICE REQUIRED FOR TENANTS/SHOWINGS; SQ FOOTAGE PER TAX RECORDS; ALL ROOMS AND ROOM SIZES ARE ESTIMATED

15. 2015-10-27
    soldstatus $39,000
16. 2015-10-15
    soldstatus $20,000
17. 1982-07-01
    soldstatus $41,500

ⓘ 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: $1,690 · $141/mo
• Projected year-2 tax: $2,140 · $178/mo
• Expected delta: +$450/yr (+$38/mo · 26.6%)

ⓘ 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 ≥96°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,516
• − Mortgage interest: −$7,842
• − Property taxes: −$1,690
• − Insurance: −$700
• − Repairs & maintenance: −$1,961
• − Management: −$1,961
• − Depreciation: −$4,073
• Taxable income: $6,289
• Est. tax owed @ 24.0%: −$1,509
• After-tax cash flow: $6,659/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): 58,146
• Household income: $54,289
• Rent vs Own: 52.6% rent · 47.4% own
• Severe rent burden: 2283.0

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 Hispanic (69%)
• Race & ethnicity: Hispanic / Latino 69% Two or more races 34% White 18% Asian 6% Black 5% Native American 2%
• Hispanic origin (detail): Mexican 52% Puerto Rican 12%
• Common ancestry: Romanian 6% Portuguese 1%
• Foreign-born: 31% · Canada, Philippines, Jamaica
• Languages at home: 35% English-only · Spanish 59% Other Asian/Pacific 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: ▼ -52.55%
• Current HPI: 332.891
• Rent YoY: ▲ 5.02%
• 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

+237.3% since first listed

12 events — show timeline

• 2026-05-18 Relisted — METROMLS
• 2026-05-18 Listing Removed — METROMLS
• 2025-12-13 Price Changed $140,000 METROMLS
• 2025-11-17 Listed $150,000 METROMLS
• 2022-04-27 Listing Removed — METROMLS
• 2022-04-12 Relisted — METROMLS
• 2022-04-02 Contingent — METROMLS
• 2022-03-21 Price Changed $110,000 METROMLS
• 2022-02-23 Listed $120,000 METROMLS
• 2015-10-27 Sold (Public Records) $39,000 Public Records
• 2015-10-15 Sold (Public Records) $20,000 Public Records
• 1982-07-01 Sold (Public Records) $41,500 Public Records

Property tax history

-1.3%/yr

Latest (2024): $1,690 · +7.9% YoY. Source: county tax records.