3956 N 41st St · Milwaukee, WI 53216

$160,000

5 bd · 2.0 ba · 2,056 sqft · MultiFamily public records · 141 Days on market

Built 1942 3,920 sqft lot $78/sqft · 23% below area Est $207k · 23% 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 +21.8/30.0
• ARV discount +15.0/15.0
• 1% rule +7.7/10.0
• DSCR +7.0/10.0
• Appreciation +5.7/10.0
• Rent growth +4.3/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Just Reduced!!! Welcome to this charming four bedroom, two-bathroom residence. Step inside and discover a layout designed for comfortable everyday living. Each bedroom offers plenty of space and each bathroom is fully tiled. This home was once a duplex, but currently used as a single-family home. This offers the buyer an opportunity to continue to take advantage of the generous size and unique layout or convert it back to a duplex and add income generating potential. The property also features a 2 car detached garage and additional parking spot in the rear.

Key facts

• Unique layout
• 3,920 sq ft lot
• 2 garage spots

Tags

• FULLY TILED BATHROOMS
• UNIQUE LAYOUT
• INCOME GENERATING POTENTIAL

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $160k.

Deal economics

• At list price, monthly cash flow is $248 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $141k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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 (+7.0%/yr); 130 active listings in the ZIP; 3 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).
• At $2,025/mo this rent would consume 52% of the median local household income ($47k/yr) (locally 2202% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $3k of equity ($1k loan paydown + $2k appreciation (1.3% local appreciation)).
• Milwaukee County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (1.3% appreciation + 7.0% rent growth), your $45k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 141 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y ago; this cycle's ask has dropped $40k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $140,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 141 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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 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: 1.27% ✓
• Cap rate: 8.16%
• Cash-on-cash: 6.66%
• DSCR: 1.30
• GRM: 6.6

CMA / ARV

• ARV (median comp): $206,874
• List price: $160,000
• Delta: -17.82%
• 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
4049 N Elmhurst Rd #4051	0.22mi	4/2.0 (-1)	2,122 (+3%)	2mo	$170,000	$80	78
4122 W Roosevelt Dr	0.17mi	5/2.0	1,964 (-4%)	9mo	$181,621	$92	78
3625 W Capitol Dr	0.24mi	4/2.0 (-1)	2,100 (+2%)	5mo	$165,000	$79	76
3708 N 42nd St	0.32mi	4/2.0 (-1)	1,957 (-5%)	12mo	$173,367	$89	62
4518 W Medford Ave #4520	0.48mi	4/2.0 (-1)	2,032 (-1%)	13mo	$228,000	$112	60
3502 N 37th St	0.51mi	5/2.0	1,898 (-8%)	8mo	$95,000	$50	57
3444 N 44th St #3446	0.54mi	4/2.0 (-1)	1,969 (-4%)	14mo	$215,000	$109	51
3702 N 51st Blvd	0.73mi	4/2.0 (-1)	2,050 (-0%)	15mo	$265,000	$129	48
2916 W Melvina St	0.70mi	4/2.0 (-1)	2,184 (+6%)	6mo	$88,250	$40	46
3373 N 47th St #3375	0.74mi	4/2.0 (-1)	1,840 (-10%)	4mo	$192,000	$104	40
3367 N 36th St	0.65mi	4/2.0 (-1)	1,787 (-13%)	11mo	$100,000	$56	34
3744 N 51st Blvd #3746	0.71mi	4/2.0 (-1)	1,786 (-13%)	14mo	$173,000	$97	29

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.33% appreciation · 7.01% rent growth · sell at horizon

5-year hold

• IRR: 12.5%
• Equity multiple: 1.67×
• Total profit: $30,087
• Equity at exit: $57,372

10-year hold

• IRR: 18.7%
• Equity multiple: 3.64×
• Total profit: $118,482
• Equity at exit: $78,417

Cash invested: $44,800 (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 53216

• Home prices YoY: 0.3%
• Rents YoY: 7.0%
• Active inventory: 130
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $2,025 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$446 /mo · $5,349/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$425
• Net cashflow: $248

Break-even live

Break-even rent $1,711

Max offer price $160,000

Occupancy floor 83%

Sensitivity live

Price	-10% $339	-5% $294	+0% $248	+5% $203	+10% $158
Rent	-10% $88	-5% $168	+0% $248	+5% $328	+10% $408
Rate	-1.0pp $329	-0.5pp $289	base $248	+0.5pp $207	+1.0pp $165

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3123 N 42nd St Milwaukee, WI	4.0	1.0	1500	$1,700	$1.13	24d	1	0.92mi
2704 W Concordia Ave Unit Na Milwaukee, WI	5.0	2.0	1856	$2,500	$1.35	24d	1	1.07mi
2116 W Atkinson Ave Unit A Milwaukee, WI	4.0	1.0	1707	$2,000	$1.17	2d	1	1.30mi

Listing history 26 events

1. 2026-06-21
   pricedays on market $160,000 Active 141 DOM
2. 2026-06-18
   days on market $170,000 Active 138 DOM
3. 2026-06-17
   days on market $170,000 Active 137 DOM
4. 2026-06-16
   days on market $170,000 Active 136 DOM
5. 2026-06-15
   days on market $170,000 Active 135 DOM
6. 2026-06-13
   days on market $170,000 Active 133 DOM
7. 2026-06-13
   days on market $170,000 Active 132 DOM
8. 2026-06-09
   days on market $170,000 Active 129 DOM
9. 2026-06-08
   days on market $170,000 Active 128 DOM
10. 2026-06-07
    days on market $170,000 Active 127 DOM
11. 2026-06-05
    days on market $170,000 Active 124 DOM
12. 2026-06-03
    days on market $170,000 Active 123 DOM
13. 2026-06-02
    days on market $170,000 Active 122 DOM
14. 2026-06-01
    days on market $170,000 Active 121 DOM
15. 2026-05-31
    days on market $170,000 Active 120 DOM
16. 2026-05-14
    price $170,000 563-char remark

    Show marketing remark (563 chars)

    Just Reduced!!! Welcome to this charming four bedroom, two-bathroom residence. Step inside and discover a layout designed for comfortable everyday living. Each bedroom offers plenty of space and each bathroom is fully tiled. This home was once a duplex, but currently used as a single-family home. This offers the buyer an opportunity to continue to take advantage of the generous size and unique layout or convert it back to a duplex and add income generating potential. The property also features a 2 car detached garage and additional parking spot in the rear.

17. 2026-04-10
    price $180,000 563-char remark

    Show marketing remark (563 chars)

    Just Reduced!!! Welcome to this charming four bedroom, two-bathroom residence. Step inside and discover a layout designed for comfortable everyday living. Each bedroom offers plenty of space and each bathroom is fully tiled. This home was once a duplex, but currently used as a single-family home. This offers the buyer an opportunity to continue to take advantage of the generous size and unique layout or convert it back to a duplex and add income generating potential. The property also features a 2 car detached garage and additional parking spot in the rear.

18. 2026-03-04
    price $190,000 563-char remark

    Show marketing remark (563 chars)

    Just Reduced!!! Welcome to this charming four bedroom, two-bathroom residence. Step inside and discover a layout designed for comfortable everyday living. Each bedroom offers plenty of space and each bathroom is fully tiled. This home was once a duplex, but currently used as a single-family home. This offers the buyer an opportunity to continue to take advantage of the generous size and unique layout or convert it back to a duplex and add income generating potential. The property also features a 2 car detached garage and additional parking spot in the rear.

19. 2026-01-30
    listed $200,000 Active 563-char remark

    Show marketing remark (563 chars)

    Just Reduced!!! Welcome to this charming four bedroom, two-bathroom residence. Step inside and discover a layout designed for comfortable everyday living. Each bedroom offers plenty of space and each bathroom is fully tiled. This home was once a duplex, but currently used as a single-family home. This offers the buyer an opportunity to continue to take advantage of the generous size and unique layout or convert it back to a duplex and add income generating potential. The property also features a 2 car detached garage and additional parking spot in the rear.

20. 2021-06-04
    historical 72-char remark

    Show marketing remark (72 chars)

    Completely updated 3 bedroom 2 full bath , very spacious . Easy to show.

21. 2021-05-24
    soldstatus $197,000
22. 2021-04-16
    listed $179,900 Active 72-char remark

    Show marketing remark (72 chars)

    Completely updated 3 bedroom 2 full bath , very spacious . Easy to show.

23. 2018-04-26
    soldstatus $42,000 Sold
24. 2018-01-19
    status Pending
25. 2017-12-13
    listed $42,000 Active
26. 2003-06-10
    soldstatus $78,000

ⓘ 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: $5,349 · $446/mo
• Projected year-2 tax: $5,349 · $446/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: $24,304
• − Mortgage interest: −$8,962
• − Property taxes: −$5,349
• − Insurance: −$800
• − Repairs & maintenance: −$1,944
• − Management: −$1,944
• − Depreciation: −$4,655
• Taxable income: $649
• Est. tax owed @ 24.0%: −$156
• After-tax cash flow: $2,826/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): 30,345
• Household income: $46,752
• Rent vs Own: 52.7% rent · 47.3% own
• Severe rent burden: 2202.0

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 (81%)
• Race & ethnicity: Black 81% White 9% Hispanic / Latino 5% Two or more races 5% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 1%
• Foreign-born: 3% · Canada, Philippines, China
• Languages at home: 93% English-only · Spanish 4% Other Asian/Pacific 2%

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: ▲ 1.33%
• Current HPI: 381.0954
• Rent YoY: ▲ 7.01%
• 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

+117.9% since first listed

11 events — show timeline

• 2026-05-14 Price Changed $170,000 METROMLS
• 2026-04-10 Price Changed $180,000 METROMLS
• 2026-03-04 Price Changed $190,000 METROMLS
• 2026-01-30 Listed $200,000 METROMLS
• 2021-06-04 Listing Removed — METROMLS
• 2021-05-24 Sold (Public Records) $197,000 Public Records
• 2021-04-16 Listed $179,900 METROMLS
• 2018-04-26 Sold (MLS) $42,000 METROMLS
• 2018-01-19 Pending — METROMLS
• 2017-12-13 Listed $42,000 METROMLS
• 2003-06-10 Sold (Public Records) $78,000 Public Records

Property tax history

+5.0%/yr

Latest (2024): $5,349 · -9.3% YoY. Source: county tax records.