2952 N Buffum St · Milwaukee, WI 53212

$164,900

5 bd · 1.5 ba · 2,268 sqft · SingleFamily public records · 42 Days on market

Built 1900 435 sqft lot $73/sqft · 31% below area Est $238k · 31% 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 +2.5/5.0
• Schools +1.2/10.0
• 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 42 days

Property features AI

Finance

• Other: Acreage: Less than 1/2

Exterior

• Utilities: Municipal water; Municipal sewer
• Home design: Single-family, multi-level home; Year built: Other — see remarks; Zoning: R-1
• Construction: Wood construction
• Exterior features: Wood exterior

Interior

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

What this means for you Summary

Snapshot

• This is a 5-bed/1.5-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $766 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $165k).
• Recommended offer: $160k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.9% 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+, 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); 129 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 54% 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 $2,552/mo this rent would consume 65% of the median local household income ($47k/yr) (locally 2397% 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 $1k of loan paydown is wiped out by about $5k 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 $46k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $88k; list at $165k implies a 87% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $159,953 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.55% ✓
• Cap rate: 11.87%
• Cash-on-cash: 19.90%
• DSCR: 1.89
• GRM: 5.4

CMA / ARV

• ARV (median comp): $237,581
• List price: $164,900
• Delta: -30.59%
• 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%)	13mo	$269,000	$120	66
2910 N 1st St	0.23mi	4/2.0 (-1)	2,198 (-3%)	17mo	$187,000	$85	63
3066 N 2nd St	0.34mi	4/2.5 (-1)	2,338 (+3%)	14mo	$200,000	$86	58
2653 N 2nd St	0.50mi	4/2.5 (-1)	2,276 (+0%)	14mo	$120,000	$53	56
2633 N Hubbard St #2635	0.42mi	5/2.0	2,536 (+12%)	8mo	$265,000	$104	52
2833 N Weil St	0.38mi	6/3.0 (+1)	2,046 (-10%)	8mo	$385,000	$188	48
2565 N Humboldt Blvd	0.64mi	5/2.0	2,517 (+11%)	5mo	$525,000	$209	46
3401 N Vel R Phillips Ave	0.73mi	4/2.0 (-1)	2,083 (-8%)	5mo	$180,000	$86	41
3264 N Richards St	0.40mi	4/2.0 (-1)	2,003 (-12%)	18mo	$231,900	$116	40
3460 N 1st St	0.67mi	5/2.0	2,079 (-8%)	16mo	$117,500	$57	40
2846 N Vel R Phillips Ave	0.47mi	5/4.0	1,931 (-15%)	13mo	$245,000	$127	32
106 E Meinecke Ave	0.73mi	4/2.0 (-1)	1,982 (-13%)	16mo	$147,500	$74	24

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: 14.4%
• Equity multiple: 1.59×
• Total profit: $27,396
• Equity at exit: $24,587

10-year hold

• IRR: 24.8%
• Equity multiple: 3.37×
• Total profit: $109,484
• Equity at exit: $14,258

Cash invested: $46,172 (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 53212

• Rents YoY: 5.0%
• Active inventory: 129
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $2,552 high
• Mortgage (P&I): −$865
• Tax from tax record: −$317 /mo · $3,804/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$536
• Net cashflow: $766

Break-even live

Break-even rent $1,583

Max offer price $164,900

Occupancy floor 65%

Sensitivity live

Price	-10% $859	-5% $812	+0% $766	+5% $719	+10% $672
Rent	-10% $564	-5% $665	+0% $766	+5% $867	+10% $967
Rate	-1.0pp $849	-0.5pp $808	base $766	+0.5pp $723	+1.0pp $680

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

Rent comps 13 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	44d	1	0.55mi
3131 N Bartlett Ave Unit 1 Milwaukee, WI	4.0	1.0	1600	$1,750	$1.09	44d	1	0.87mi
1814 E Linnwood Ave Milwaukee, WI	4.0	2.0	1800	$3,100	$1.72	44d	1	0.95mi
1902 E Linnwood Ave Unit 1902 05 Milwaukee, WI	4.0	1.5	1599	$2,400	$1.50	5d	1	1.00mi
1902 E Linnwood Ave Unit 1902 04 Milwaukee, WI	4.0	1.5	1599	$2,400	$1.50	17d	1	1.00mi
2937 N Frederick Ave Milwaukee, WI	4.0	1.0	1700	$1,925	$1.13	5d	1	1.08mi
2974 N Frederick Ave Milwaukee, WI	4.0	2.0	1626	$2,600	$1.60	44d	1	1.12mi
2579 N Frederick Ave Milwaukee, WI	4.0	2.0	2400	$2,095	$0.87	5d	1	1.17mi
2609 N Maryland Ave Milwaukee, WI	4.0	2.5	1700	$2,050	$1.21	5d	1	1.21mi
1703 N Astor St Milwaukee, WI	4.0	2.0	1800	$2,200	$1.22	44d	1	1.34mi
1645A N Astor St Milwaukee, WI	6.0	2.0	2200	$2,950	$1.34	24d	1	1.44mi
1647 N Astor St Milwaukee, WI	6.0	2.0	2200	$2,950	$1.34	44d	1	1.44mi
1645 N Astor St Unit A Milwaukee, WI	6.0	2.0	2200	$3,100	$1.41	44d	1	1.44mi

Listing history 30 events

1. 2026-06-18
   days on market $164,900 Active 42 DOM
2. 2026-06-17
   days on market $164,900 Active 41 DOM
3. 2026-06-16
   days on market $164,900 Active 40 DOM
4. 2026-06-15
   days on market $164,900 Active 39 DOM
5. 2026-06-13
   days on market $164,900 Active 37 DOM
6. 2026-06-13
   days on market $164,900 Active 36 DOM
7. 2026-06-09
   days on market $164,900 Active 33 DOM
8. 2026-06-08
   pricedays on market $164,900 Active 32 DOM
9. 2026-06-07
   days on market $169,900 Active 31 DOM
10. 2026-06-05
    days on market $169,900 Active 28 DOM
11. 2026-06-03
    days on market $169,900 Active 27 DOM
12. 2026-06-02
    days on market $169,900 Active 26 DOM
13. 2026-06-01
    days on market $169,900 Active 25 DOM
14. 2026-05-31
    days on market $169,900 Active 24 DOM
15. 2026-05-07
    listed $169,900 Active 727-char remark
16. 2021-01-15
    soldstatus $88,000
17. 2021-01-14
    soldstatus $67,000
18. 2019-11-13
    soldstatus $35,000 Sold 156-char remark

    Show marketing remark (156 chars)

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

19. 2019-10-21
    historical Contingent 156-char remark

    Show marketing remark (156 chars)

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

20. 2019-09-20
    listed $39,900 Active 156-char remark

    Show marketing remark (156 chars)

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

21. 2018-09-30
    historical

    Show marketing remark (355 chars)

    Renovated Harambee mini-mansion, five bedrooms, one and a half baths, natural fireplace, and hardwood floors (under laminate per seller). Updates include new water heater, new furnace, new Gen-Air filtration, all new venting and duct system, new insulation, new windows on second and third floors and kitchen. Whirlpool tub in full bath! Being sold as-is.

22. 2018-06-09
    price $80,000

    Show marketing remark (355 chars)

    Renovated Harambee mini-mansion, five bedrooms, one and a half baths, natural fireplace, and hardwood floors (under laminate per seller). Updates include new water heater, new furnace, new Gen-Air filtration, all new venting and duct system, new insulation, new windows on second and third floors and kitchen. Whirlpool tub in full bath! Being sold as-is.

23. 2018-04-04
    status Active

    Show marketing remark (355 chars)

    Renovated Harambee mini-mansion, five bedrooms, one and a half baths, natural fireplace, and hardwood floors (under laminate per seller). Updates include new water heater, new furnace, new Gen-Air filtration, all new venting and duct system, new insulation, new windows on second and third floors and kitchen. Whirlpool tub in full bath! Being sold as-is.

24. 2018-04-02
    historical

    Show marketing remark (355 chars)

    Renovated Harambee mini-mansion, five bedrooms, one and a half baths, natural fireplace, and hardwood floors (under laminate per seller). Updates include new water heater, new furnace, new Gen-Air filtration, all new venting and duct system, new insulation, new windows on second and third floors and kitchen. Whirlpool tub in full bath! Being sold as-is.

25. 2018-03-13
    price $84,999

    Show marketing remark (355 chars)

    Renovated Harambee mini-mansion, five bedrooms, one and a half baths, natural fireplace, and hardwood floors (under laminate per seller). Updates include new water heater, new furnace, new Gen-Air filtration, all new venting and duct system, new insulation, new windows on second and third floors and kitchen. Whirlpool tub in full bath! Being sold as-is.

26. 2018-01-26
    price $99,950

    Show marketing remark (355 chars)

    Renovated Harambee mini-mansion, five bedrooms, one and a half baths, natural fireplace, and hardwood floors (under laminate per seller). Updates include new water heater, new furnace, new Gen-Air filtration, all new venting and duct system, new insulation, new windows on second and third floors and kitchen. Whirlpool tub in full bath! Being sold as-is.

27. 2017-12-18
    price $124,900

    Show marketing remark (355 chars)

    Renovated Harambee mini-mansion, five bedrooms, one and a half baths, natural fireplace, and hardwood floors (under laminate per seller). Updates include new water heater, new furnace, new Gen-Air filtration, all new venting and duct system, new insulation, new windows on second and third floors and kitchen. Whirlpool tub in full bath! Being sold as-is.

28. 2017-11-01
    price $129,900

    Show marketing remark (355 chars)

    Renovated Harambee mini-mansion, five bedrooms, one and a half baths, natural fireplace, and hardwood floors (under laminate per seller). Updates include new water heater, new furnace, new Gen-Air filtration, all new venting and duct system, new insulation, new windows on second and third floors and kitchen. Whirlpool tub in full bath! Being sold as-is.

29. 2017-10-03
    listed $139,900 Active

    Show marketing remark (355 chars)

    Renovated Harambee mini-mansion, five bedrooms, one and a half baths, natural fireplace, and hardwood floors (under laminate per seller). Updates include new water heater, new furnace, new Gen-Air filtration, all new venting and duct system, new insulation, new windows on second and third floors and kitchen. Whirlpool tub in full bath! Being sold as-is.

30. 2004-01-20
    soldstatus $90,000

ⓘ 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: $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: $30,626
• − Mortgage interest: −$9,237
• − Property taxes: −$3,804
• − Insurance: −$824
• − Repairs & maintenance: −$2,450
• − Management: −$2,450
• − Depreciation: −$4,797
• Taxable income: $7,064
• Est. tax owed @ 24.0%: −$1,695
• After-tax cash flow: $7,494/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): 28,938
• Household income: $47,298
• Rent vs Own: 65.6% rent · 34.4% own
• Severe rent burden: 2397.0

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: 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%

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

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

+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.