2952 N Buffum St · Milwaukee, WI 53212

$144,900

5 bd · 1.5 ba · 2,268 sqft · SingleFamily public records · 93 Days on market

Built 1900 Fair condition 435 sqft lot $64/sqft · 40% below area Est $240k · 40% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Condition / age +2.2/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

BANK OWNED: Large home. Some renovations have been done. Roof and some windows need replacement. Other renovations needed. Rooms are approx. Make an offer.

Key facts

• Built 1900
• Listed 92 days

What this means for you Summary

Snapshot

• This is a 5-bed/1.5-bath single-family listed at $145k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $991 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $145k).
• Recommended offer: $132k (9.0% below list) — sets the bar for market timing.
• Cap rate 14.5% vs local median 4.9% 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+, 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.
• Zoned schools: Riverside High (math 8% / reading 22%, grade F, #423 of 483 statewide, top 88%, 1,229 students, 78% FRL) — zoned schools at 78% FRL track the district average.
• Market conditions: Rents rising fast (+5.0%/yr); 162 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals lingering (median 47d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 83% 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).
• At $2,694/mo this rent would consume 68% of the median local household income ($47k/yr) — 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 $1k 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 $41k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 93 days — a 9% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y ago; this cycle's ask has dropped $25k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $88k; list at $145k implies a 65% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $131,859 (9.0% below list)

Questions for the listing agent

1. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1900 — 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. 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 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: 1.86% ✓
• Cap rate: 14.50%
• Cash-on-cash: 29.30%
• DSCR: 2.30
• GRM: 4.5

CMA / ARV

• ARV (median comp): $240,331
• List price: $144,900
• Delta: -39.71%
• 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
2651 N Palmer St	0.42mi	5/2.0	2,243 (-1%)	14mo	$269,000	$120	65
2910 N 1st St	0.23mi	4/2.0 (-1)	2,198 (-3%)	19mo	$187,000	$85	61
3066 N 2nd St	0.34mi	4/2.5 (-1)	2,338 (+3%)	16mo	$200,000	$86	57
2653 N 2nd St	0.50mi	4/2.5 (-1)	2,276 (+0%)	15mo	$120,000	$53	54
2633 N Hubbard St #2635	0.42mi	5/2.0	2,536 (+12%)	10mo	$265,000	$104	51
2833 N Weil St	0.38mi	6/3.0 (+1)	2,046 (-10%)	10mo	$385,000	$188	47
2565 N Humboldt Blvd	0.64mi	5/2.0	2,517 (+11%)	6mo	$525,000	$209	45
3401 N Vel R Phillips Ave	0.73mi	4/2.0 (-1)	2,083 (-8%)	7mo	$180,000	$86	40
3264 N Richards St	0.40mi	4/2.0 (-1)	2,003 (-12%)	19mo	$231,900	$116	39
3460 N 1st St	0.67mi	5/2.0	2,079 (-8%)	17mo	$117,500	$57	38
2846 N Vel R Phillips Ave	0.47mi	5/4.0	1,931 (-15%)	14mo	$245,000	$127	31
106 E Meinecke Ave	0.73mi	4/2.0 (-1)	1,982 (-13%)	18mo	$147,500	$74	23

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 · 5.0% rent growth · sell at horizon

5-year hold

• IRR: 26.2%
• Equity multiple: 2.12×
• Total profit: $45,274
• Equity at exit: $21,605

10-year hold

• IRR: 35.1%
• Equity multiple: 4.57×
• Total profit: $144,814
• Equity at exit: $12,528

Cash invested: $40,572 (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 →

Seller's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 3 active · 7 under contract
• Months of supply: 1.3 mo (78%/mo absorbed)
• Median asking: $349,900 ($126/sqft)
• Median days on market: 54 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -16.0% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 53212

• Rents YoY: 5.0%
• Active inventory: 162
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $2,694 high
• Mortgage (P&I): −$760
• Tax from tax record: −$317 /mo · $3,804/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$566
• Net cashflow: $991

Break-even live

Break-even rent $1,440

Max offer price $144,900

Occupancy floor 58%

Sensitivity live

Price	-10% $1,073	-5% $1,032	+0% $991	+5% $950	+10% $909
Rent	-10% $778	-5% $884	+0% $991	+5% $1,097	+10% $1,204
Rate	-1.0pp $1,064	-0.5pp $1,028	base $991	+0.5pp $953	+1.0pp $915

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: $36,225
• Closing costs: $4,347
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2634 N Doctor M.L.K. Jr Dr Milwaukee, WI	5.0	2.5	2512	$3,700	$1.47	93d	1	0.55mi
3131 N Bartlett Ave Unit 1 Milwaukee, WI	4.0	1.0	1600	$1,750	$1.09	93d	1	0.87mi
1814 E Linnwood Ave Milwaukee, WI	4.0	2.0	1800	$3,100	$1.72	93d	1	0.95mi
3255 N Oakland Ave Milwaukee, WI	4.0	2.5	2000	$2,970	$1.49	11d	1	0.96mi
2112 N Palmer St Milwaukee, WI	4.0	2.5	2200	$4,000	$1.82	47d	1	0.97mi
2112 N Palmer St Milwaukee, WI	2.0–4.0	1.0–2.5	1650	$4,000	$2.42	36d	3	0.97mi
1902 E Linnwood Ave Milwaukee, WI	3.0–4.0	1.0–1.5	1449	$2,400	$1.66	11d	2	1.00mi
1902 E Linnwood Ave Unit 1902 04 Milwaukee, WI	4.0	1.5	1599	$2,400	$1.50	66d	1	1.00mi
1902 E Linnwood Ave Unit 1902 05 Milwaukee, WI	4.0	1.5	1599	$2,400	$1.50	53d	1	1.00mi
1927 E Newberry Blvd Unit up Milwaukee, WI	5.0	1.0	1800	$2,500	$1.39	38d	1	1.04mi
2974 N Frederick Ave Milwaukee, WI	4.0	2.0	1626	$2,600	$1.60	93d	1	1.12mi
1703 N Astor St Milwaukee, WI	4.0	2.0	1800	$2,200	$1.22	93d	1	1.34mi
2505 N Prospect Ave Milwaukee, WI	3.0–4.0	1.0	1658	$2,030	$1.22	16d	6	1.39mi
2511 N Prospect Ave Unit 2511 04 Milwaukee, WI	4.0	1.0	1658	$2,030	$1.22	47d	1	1.39mi
2544 N Prospect Ave Milwaukee, WI	3.0–4.0	1.0	1583	$1,980	$1.25	36d	3	1.40mi
1645A N Astor St #1647 Milwaukee, WI	6.0	2.0	2200	$2,750	$1.25	36d	1	1.44mi
1645A N Astor St Milwaukee, WI	6.0	2.0	2200	$2,750	$1.25	41d	1	1.44mi
1645 N Astor St Unit A Milwaukee, WI	6.0	2.0	2200	$3,100	$1.41	93d	1	1.44mi

Property features AI

Finance

• Other: Acreage: Less than 1/2

Exterior

• Utilities: Municipal waterMunicipal sewer
• Home design: Single-family, multi-level homeYear built: Other — see remarksZoning: R-1
• Construction: Wood construction
• Exterior features: Wood exterior

Interior

• Kitchen: OvenRangeRefrigerator
• Bedrooms: Primary bedroom (upper) — 18 x 10Bedroom 2 (upper) — 12 x 12Bedroom 3 (upper) — 12 x 12Bedroom 4 (upper) — 12 x 14
• Flooring: Wood floors
• Bathrooms: One full bathroomOne half bathroom
• Heating & cooling: Heating/cooling: Other (see remarks)
• Interior features: Wood floorsPartially finished basement

Listing history 50 events

1. 2026-08-08
   days on market $144,900 Active 93 DOM
2. 2026-08-07
   days on market $144,900 Active 92 DOM
3. 2026-08-06
   days on market $144,900 Active 91 DOM
4. 2026-08-05
   days on market $144,900 Active 90 DOM
5. 2026-08-04
   pricedays on market $144,900 Active 89 DOM
6. 2026-08-03
   days on market $149,900 Active 88 DOM
7. 2026-07-31
   days on market $149,900 Active 85 DOM
8. 2026-07-30
   days on market $149,900 Active 84 DOM
9. 2026-07-30
   days on market $149,900 Active 83 DOM
10. 2026-07-28
    days on market $149,900 Active 82 DOM
11. 2026-07-26
    days on market $149,900 Active 80 DOM
12. 2026-07-24
    days on market $149,900 Active 78 DOM
13. 2026-07-23
    days on market $149,900 Active 77 DOM
14. 2026-07-22
    days on market $149,900 Active 76 DOM
15. 2026-07-21
    days on market $149,900 Active 75 DOM
16. 2026-07-20
    days on market $149,900 Active 74 DOM
17. 2026-07-18
    days on market $149,900 Active 72 DOM
18. 2026-07-18
    days on market $149,900 Active 71 DOM
19. 2026-07-16
    days on market $149,900 Active 70 DOM
20. 2026-07-15
    days on market $149,900 Active 69 DOM
21. 2026-07-14
    days on market $149,900 Active 68 DOM
22. 2026-07-13
    days on market $149,900 Active 67 DOM
23. 2026-07-13
    days on market $149,900 Active 66 DOM
24. 2026-07-11
    days on market $149,900 Active 65 DOM
25. 2026-07-10
    days on market $149,900 Active 64 DOM
26. 2026-07-09
    days on market $149,900 Active 63 DOM
27. 2026-07-07
    days on market $149,900 Active 61 DOM
28. 2026-07-06
    pricedays on market $149,900 Active 60 DOM
29. 2026-07-05
    days on market $154,900 Active 59 DOM
30. 2026-07-03
    days on market $154,900 Active 57 DOM
31. 2026-07-02
    days on market $154,900 Active 56 DOM
32. 2026-07-01
    days on market $154,900 Active 55 DOM
33. 2026-06-30
    days on market $154,900 Active 54 DOM
34. 2026-06-29
    days on market $154,900 Active 53 DOM
35. 2026-06-28
    days on market $154,900 Active 52 DOM
36. 2026-06-27
    days on market $154,900 Active 51 DOM
37. 2026-06-27
    days on market $154,900 Active 50 DOM
38. 2026-06-25
    days on market $154,900 Active 48 DOM
39. 2026-06-22
    pricedays on market $154,900 Active 46 DOM
40. 2026-06-21
    days on market $164,900 Active 45 DOM
41. 2026-06-18
    days on market $164,900 Active 42 DOM
42. 2026-06-17
    days on market $164,900 Active 41 DOM
43. 2026-06-16
    days on market $164,900 Active 40 DOM
44. 2026-06-15
    days on market $164,900 Active 39 DOM
45. 2026-06-13
    days on market $164,900 Active 37 DOM
46. 2026-06-13
    days on market $164,900 Active 36 DOM
47. 2026-06-09
    days on market $164,900 Active 33 DOM
48. 2026-06-08
    pricedays on market $164,900 Active 32 DOM
49. 2026-06-07
    days on market $169,900 Active 31 DOM
50. 2026-06-05
    days on market $169,900 Active 28 DOM

ⓘ 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: $3,804 · $317/mo
• Projected year-2 tax: $3,804 · $317/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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,324
• − Mortgage interest: −$8,117
• − Property taxes: −$3,804
• − Insurance: −$724
• − Repairs & maintenance: −$2,586
• − Management: −$2,586
• − Depreciation: −$4,215
• Taxable income: $10,292
• Est. tax owed @ 24.0%: −$2,470
• After-tax cash flow: $9,419/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.

Condition & rehab AI · 10 photos

Fair 45/100 Moderate rehab Est. rehab $56,700–$102,060 screening

This home requires moderate repairs to its exterior siding and interior walls, but has good hardwood floors and an average interior paint job. Painting the exterior and replacing damaged siding would significantly improve its curb appeal and value.

Repairs flagged

• Major Exterior siding — Significant weathering and discoloration
• Minor Interior walls — Some wear visible

Value-add opportunities

• Resale Paint exterior siding — Fresh paint can significantly improve curb appeal and home value ↑
• Resale Replace damaged siding — Aesthetically pleasing and functional ↑
• Resale Paint interior walls — Fresh paint can make the interior look more inviting and modern ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 15/100

Zoned Schools

High Riverside High F WI #423/483 Nat'l #15,355/17,239

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

A Composite livability gradescore 81/100

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 · 995,758 people
• City population: 573,768
• Metro: Milwaukee-Waukesha, WI
• Population (ZIP): 28,938
• Household income: $47,298
• Rent vs Own: 65.6% rent · 34.4% own
• Severe rent burden: 13% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: Black 48% White 35% Hispanic / Latino 12% Two or more races 9%
• Hispanic origin (detail): Mexican 4% Puerto Rican 6%
• Common ancestry: Romanian 4% Portuguese 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 92% English-only · Spanish 6%

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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: ▼ -216.73%
• Current HPI: 385.8225
• Rent YoY: ▲ 5.00%
• Metro: Milwaukee-Waukesha, WI
• State GDP YoY: ▲ 2.10%
• F500 in state: 20

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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

Property features AI

Finance

• Other: Acreage: Less than 1/2

Exterior

• Utilities: Municipal waterMunicipal sewer
• Home design: Single-family, multi-level homeYear built: Other — see remarksZoning: R-1
• Construction: Wood construction
• Exterior features: Wood exterior

Interior

• Kitchen: OvenRangeRefrigerator
• Bedrooms: Primary bedroom (upper) — 18 x 10Bedroom 2 (upper) — 12 x 12Bedroom 3 (upper) — 12 x 12Bedroom 4 (upper) — 12 x 14
• Flooring: Wood floors
• Bathrooms: One full bathroomOne half bathroom
• Heating & cooling: Heating/cooling: Other (see remarks)
• Interior features: Wood floorsPartially finished basement

Price history

+83.2% since first listed

17 events — show timeline

• 2026-06-08 Price Changed $164,900 METROMLS
• 2026-05-07 Listed $169,900 METROMLS
• 2021-01-15 Sold (Public Records) $88,000 Public Records
• 2021-01-14 Sold (Public Records) $67,000 Public Records
• 2019-11-13 Sold (MLS) $35,000 METROMLS
• 2019-10-21 Contingent — METROMLS
• 2019-09-20 Listed $39,900 METROMLS
• 2018-09-30 Listing Removed — METROMLS
• 2018-06-09 Price Changed $80,000 METROMLS
• 2018-04-04 Relisted — METROMLS
• 2018-04-02 Listing Removed — METROMLS
• 2018-03-13 Price Changed $84,999 METROMLS
• 2018-01-26 Price Changed $99,950 METROMLS
• 2017-12-18 Price Changed $124,900 METROMLS
• 2017-11-01 Price Changed $129,900 METROMLS
• 2017-10-03 Listed $139,900 METROMLS
• 2004-01-20 Sold (Public Records) $90,000 Public Records

Property tax history

+10.9%/yr

Latest (2024): $3,804 · +102.2% YoY. Source: county tax records.