5525 N 36th St · Milwaukee, WI 53209

$139,900

3 bd · 1.0 ba · 1,311 sqft · SingleFamily public records · 118 Days on market

Built 1906 4,356 sqft lot $107/sqft · 14% below area Est $163k · 14% under

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Why this score? — see what drove the C+ 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 +21.3/30.0
• ARV discount +13.9/15.0
• DSCR +6.8/10.0
• 1% rule +5.6/10.0
• Rent growth +4.7/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome Home to this 4 bdrm, 1 full bath owner occupy or investment opportunity! Features include newer kitchen appliances and spacious walk-in pantry, main floor full bath with ceramic walk-in shower, generous-sized living room, enclosed front porch with fenced-in front yard, 2nd floor off-bedroom balcony overlooking the semi-fenced-in backyard, prime off-street parking with a 1 car detached garage and parking space.

Key facts

• Off-bedroom balcony
• Fenced-in front yard
• Enclosed front porch

Tags

• NEWER KITCHEN APPLIANCES
• SPACIOUS WALK-IN PANTRY
• CERAMIC WALK-IN SHOWER
• ENCLOSED FRONT PORCH
• FENCED-IN FRONT YARD
• OFF-BEDROOM BALCONY

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $206 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $140k).
• Recommended offer: $127k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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 (+8.6%/yr); 168 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $967 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 + 8.0% rent growth), your $39k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 118 days — a 9% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 5y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,309 (9.0% below list)

Questions for the listing agent

1. It's been on market 118 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 1906 — 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. 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.
8. 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.
9. 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: 1.06% ✓
• Cap rate: 8.06%
• Cash-on-cash: 6.31%
• DSCR: 1.28
• GRM: 7.9

CMA / ARV

• ARV (median comp): $163,193
• List price: $139,900
• Delta: -14.27%
• 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
5331 N 37th St	0.25mi	3/1.0	1,306 (-0%)	0mo	$133,000	$102	87
5324 N 34th St	0.29mi	4/1.0 (+1)	1,324 (+1%)	2mo	$75,000	$57	78
5460 N 37th St	0.08mi	3/1.0	1,436 (+10%)	2mo	$125,000	$87	78
5378 N 36th St	0.18mi	4/2.0 (+1)	1,345 (+3%)	1mo	$165,000	$123	78
5549 N 33rd St	0.19mi	3/2.5	1,241 (-5%)	3mo	$176,000	$142	74
5936 N 35th St	0.53mi	3/1.0	1,358 (+4%)	1mo	$163,000	$120	69
5730 N 35th St	0.30mi	2/1.0 (-1)	1,216 (-7%)	4mo	$162,000	$133	66
5403 N 37th St	0.17mi	4/1.5 (+1)	1,498 (+14%)	4mo	$129,000	$86	58
3223 W Fairmount Ave	0.72mi	4/1.0 (+1)	1,358 (+4%)	3mo	$124,000	$91	53
5931 N 42nd St	0.63mi	3/1.5	1,183 (-10%)	0mo	$220,000	$186	52
5880 N 29th St	0.65mi	3/1.5	1,144 (-13%)	4mo	$202,500	$177	44
6025 N 35th St	0.64mi	4/2.0 (+1)	1,505 (+15%)	2mo	$112,000	$74	35

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: -1.1%
• Equity multiple: 0.96×
• Total profit: $-1,722
• Equity at exit: $20,860

10-year hold

• IRR: 13.3%
• Equity multiple: 2.30×
• Total profit: $51,043
• Equity at exit: $12,096

Cash invested: $39,172 (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: 7.9×

Monthly cashflow live

• Estimated rent: $1,479 high
• Mortgage (P&I): −$734
• Tax from tax record: −$171 /mo · $2,050/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $206

Break-even live

Break-even rent $1,219

Max offer price $139,900

Occupancy floor 81%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 19 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	4d	1	0.07mi
5237 N 34th St Unit 5237 Lower Milwaukee, WI	2.0	1.0	956	$1,350	$1.41	24d	1	0.38mi
5696 N 42nd St Milwaukee, WI	4.0	1.0	1023	$1,495	$1.46	24d	1	0.40mi
5884 N 35th St Milwaukee, WI	2.0	1.0	1200	$1,500	$1.25	44d	1	0.48mi
5032 N 32nd St Milwaukee, WI	3.0	2.0	1089	$1,750	$1.61	12d	1	0.68mi
4334 W Eggert Pl Milwaukee, WI	4.0	1.0	1077	$1,695	$1.57	24d	1	0.68mi
4340 W Eggert Pl Milwaukee, WI	4.0	1.0	1066	$1,695	$1.59	24d	1	0.69mi
5165-5167 N 45th St Unit 5165 Milwaukee, WI	3.0	1.0	1020	$1,200	$1.18	17d	1	0.73mi
3931 W Kaul Ave Milwaukee, WI	3.0	1.0	1400	$1,695	$1.21	44d	1	0.77mi
5050 N 47th St Milwaukee, WI	2.0	1.0	1092	$1,700	$1.56	44d	1	0.89mi
5073 N 48th St Milwaukee, WI	4.0	1.0	1152	$1,595	$1.38	15d	1	0.94mi
4661 N 38th St Unit 4661 Milwaukee, WI	2.0	1.0	1000	$845	$0.84	15d	1	1.10mi
4702 N 44th St Milwaukee, WI	3.0	2.0	1050	$1,850	$1.76	44d	1	1.17mi
4703 N 45th St Milwaukee, WI	3.0	1.0	1031	$1,695	$1.64	24d	1	1.21mi
4727 N 46th St Milwaukee, WI	3.0	1.0	936	$1,700	$1.82	44d	1	1.21mi
4479A N 44th St Milwaukee, WI	2.0	1.0	1000	$895	$0.90	44d	1	1.42mi
5657 N 60th St #5659 Milwaukee, WI	3.0	1.0	878	$995	$1.13	17d	1	1.45mi
4640 N 51st Blvd Milwaukee, WI	2.0	1.0	1075	$1,275	$1.19	44d	1	1.46mi
6600 N Sidney Pl Glendale, WI	1.0–2.0	1.0	800	$1,587	$1.98	3d	13	1.47mi

Listing history 36 events

1. 2026-06-18
   days on market $139,900 Active 118 DOM
2. 2026-06-17
   days on market $139,900 Active 117 DOM
3. 2026-06-16
   days on market $139,900 Active 116 DOM
4. 2026-06-15
   days on market $139,900 Active 115 DOM
5. 2026-06-13
   days on market $139,900 Active 113 DOM
6. 2026-06-13
   days on market $139,900 Active 112 DOM
7. 2026-06-09
   days on market $139,900 Active 109 DOM
8. 2026-06-08
   days on market $139,900 Active 108 DOM
9. 2026-06-07
   days on market $139,900 Active 107 DOM
10. 2026-06-05
    days on market $139,900 Active 104 DOM
11. 2026-06-03
    days on market $139,900 Active 103 DOM
12. 2026-06-02
    days on market $139,900 Active 102 DOM
13. 2026-06-01
    days on market $139,900 Active 101 DOM
14. 2026-05-31
    days on market $139,900 Active 100 DOM
15. 2026-05-13
    price $139,900 421-char remark

    Show marketing remark (421 chars)

    Welcome Home to this 4 bdrm, 1 full bath owner occupy or investment opportunity! Features include newer kitchen appliances and spacious walk-in pantry, main floor full bath with ceramic walk-in shower, generous-sized living room, enclosed front porch with fenced-in front yard, 2nd floor off-bedroom balcony overlooking the semi-fenced-in backyard, prime off-street parking with a 1 car detached garage and parking space.

16. 2026-02-20
    listed $149,900 Active 421-char remark

    Show marketing remark (421 chars)

    Welcome Home to this 4 bdrm, 1 full bath owner occupy or investment opportunity! Features include newer kitchen appliances and spacious walk-in pantry, main floor full bath with ceramic walk-in shower, generous-sized living room, enclosed front porch with fenced-in front yard, 2nd floor off-bedroom balcony overlooking the semi-fenced-in backyard, prime off-street parking with a 1 car detached garage and parking space.

17. 2023-07-31
    soldstatus $125,000 Sold 262-char remark

    Show marketing remark (262 chars)

    This fully renovated 4 bedroom bungalow is beautifully done. Features include an enclosed porch, off street parking including a 1 car garage AND parking space, gorgeous floors, upper balcony overlooking the backyard, and walk-in shower. Schedule a showing today.

18. 2023-07-05
    status Pending 262-char remark

    Show marketing remark (262 chars)

    This fully renovated 4 bedroom bungalow is beautifully done. Features include an enclosed porch, off street parking including a 1 car garage AND parking space, gorgeous floors, upper balcony overlooking the backyard, and walk-in shower. Schedule a showing today.

19. 2023-06-23
    price $144,900 262-char remark

    Show marketing remark (262 chars)

    This fully renovated 4 bedroom bungalow is beautifully done. Features include an enclosed porch, off street parking including a 1 car garage AND parking space, gorgeous floors, upper balcony overlooking the backyard, and walk-in shower. Schedule a showing today.

20. 2023-06-13
    price $147,900 262-char remark

    Show marketing remark (262 chars)

    This fully renovated 4 bedroom bungalow is beautifully done. Features include an enclosed porch, off street parking including a 1 car garage AND parking space, gorgeous floors, upper balcony overlooking the backyard, and walk-in shower. Schedule a showing today.

21. 2023-05-22
    price $148,900 262-char remark

    Show marketing remark (262 chars)

    This fully renovated 4 bedroom bungalow is beautifully done. Features include an enclosed porch, off street parking including a 1 car garage AND parking space, gorgeous floors, upper balcony overlooking the backyard, and walk-in shower. Schedule a showing today.

22. 2023-05-05
    listed $149,900 Active 262-char remark

    Show marketing remark (262 chars)

    This fully renovated 4 bedroom bungalow is beautifully done. Features include an enclosed porch, off street parking including a 1 car garage AND parking space, gorgeous floors, upper balcony overlooking the backyard, and walk-in shower. Schedule a showing today.

23. 2023-04-10
    historical
24. 2023-02-16
    listed $63,900 Active
25. 2023-02-10
    soldstatus $40,000 Sold
26. 2023-01-13
    status Pending
27. 2023-01-13
    historical Contingent
28. 2023-01-10
    listed $40,000 Active
29. 2021-09-28
    soldstatus $620,000
30. 2021-09-24
    soldstatus $57,000 Sold
31. 2021-08-21
    historical Contingent
32. 2021-08-05
    price $74,900
33. 2021-06-29
    price $79,900
34. 2021-06-03
    listed $84,900 Active
35. 2000-06-07
    soldstatus $62,000
36. 1983-09-01
    soldstatus $37,900

ⓘ 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: $2,050 · $171/mo
• Projected year-2 tax: $2,319 · $193/mo
• Expected delta: +$269/yr (+$22/mo · 13.1%)

ⓘ 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: $17,751
• − Mortgage interest: −$7,837
• − Property taxes: −$2,050
• − Insurance: −$700
• − Repairs & maintenance: −$1,420
• − Management: −$1,420
• − Depreciation: −$4,070
• Taxable income: $255
• Est. tax owed @ 24.0%: −$61
• After-tax cash flow: $2,409/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

+269.1% since first listed

22 events — show timeline

• 2026-05-13 Price Changed $139,900 METROMLS
• 2026-02-20 Listed $149,900 METROMLS
• 2023-07-31 Sold (MLS) $125,000 METROMLS
• 2023-07-05 Pending — METROMLS
• 2023-06-23 Price Changed $144,900 METROMLS
• 2023-06-13 Price Changed $147,900 METROMLS
• 2023-05-22 Price Changed $148,900 METROMLS
• 2023-05-05 Listed $149,900 METROMLS
• 2023-04-10 Listing Removed — METROMLS
• 2023-02-16 Listed $63,900 METROMLS
• 2023-02-10 Sold (MLS) $40,000 METROMLS
• 2023-01-13 Pending — METROMLS
• 2023-01-13 Contingent — METROMLS
• 2023-01-10 Listed $40,000 METROMLS
• 2021-09-28 Sold (Public Records) $620,000 Public Records
• 2021-09-24 Sold (MLS) $57,000 METROMLS
• 2021-08-21 Contingent — METROMLS
• 2021-08-05 Price Changed $74,900 METROMLS
• 2021-06-29 Price Changed $79,900 METROMLS
• 2021-06-03 Listed $84,900 METROMLS
• 2000-06-07 Sold (Public Records) $62,000 Public Records
• 1983-09-01 Sold (Public Records) $37,900 Public Records

Property tax history

+6.0%/yr

Latest (2024): $2,050 · +45.1% YoY. Source: county tax records.