4720 N 36th St Unit 4720A · Milwaukee, WI 53209

$139,000

4 bd · 2.0 ba · 1,623 sqft · MultiFamily · 241 Days on market

Built 1957 Good condition 3,484 sqft lot $86/sqft · 24% above area Est $112k · 24% over ↓ 16% since listing

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.7/5.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Schools +1.2/10.0
• ARV discount +0.0/15.0
• 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

Step into this move-in-ready duplex. Both units have been thoughtfully refreshed with new flooring, updated kitchens, and fresh paint throughout. Spacious living room areas offer ample space to gather, while large windows let in natural light. This property provides the option to live in one unit and rent the other to help offset your mortgage. The backyard is perfect for relaxing or entertaining, and off-street parking adds extra ease.

Key facts

• Off street parking
• Natural light
• Backyard

Tags

• MOVE IN READY
• UPDATED KITCHENS
• NATURAL LIGHT
• BACKYARD
• OFF STREET PARKING

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $139k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $886 ($11k/yr) — positive. Per door: $443/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Recommended offer: $122k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.9% 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+, 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; 10 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).
• At $2,337/mo this rent would consume 58% of the median local household income ($48k/yr) (locally 3390% 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 $961 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 ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 241 days — a 12% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $26k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $122,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 241 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 1957 — 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: 1.68% ✓
• Cap rate: 13.94%
• Cash-on-cash: 27.31%
• DSCR: 2.21
• GRM: 5.0

CMA / ARV

• ARV (median comp): $112,256
• List price: $139,000
• Delta: 23.82%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4855 N Hopkins St	0.24mi	4/2.0	1,610 (-1%)	8mo	$70,000	$43	81
4703 N 35th St	0.04mi	4/2.0	1,789 (+10%)	9mo	$147,500	$82	73
3130 W Cameron Ave Unit 3130A	0.40mi	5/2.0 (+1)	1,543 (-5%)	0mo	$165,000	$107	68
3202 W Fairmount Ave Unit 3202A	0.44mi	4/2.0	1,614 (-1%)	16mo	$102,400	$63	66
4568 N 38th St	0.22mi	4/2.0	1,796 (+11%)	8mo	$70,000	$39	66
5241 N 31st St	0.73mi	4/2.0	1,657 (+2%)	2mo	$104,000	$63	61
5021 N 27th St	0.67mi	5/2.0 (+1)	1,630 (+0%)	5mo	$135,000	$83	59
3110 W Cameron Ave	0.42mi	4/2.0	1,705 (+5%)	18mo	$135,000	$79	57
4648 N 28th St	0.51mi	3/2.0 (-1)	1,713 (+6%)	13mo	$70,500	$41	51
5151 N 31st St	0.61mi	4/2.0	1,742 (+7%)	14mo	$168,000	$96	48
5011 N 26th St	0.72mi	5/2.0 (+1)	1,725 (+6%)	14mo	$145,000	$84	39
5264 N 36th St	0.71mi	4/2.0	1,804 (+11%)	19mo	$82,000	$45	32

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: 26.9%
• Equity multiple: 2.19×
• Total profit: $46,268
• Equity at exit: $20,725

10-year hold

• IRR: 37.4%
• Equity multiple: 5.35×
• Total profit: $169,277
• Equity at exit: $12,018

Cash invested: $38,920 (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: 9.9×

Monthly cashflow live

• Estimated rent: $2,337 high
• Mortgage (P&I): −$729
• Tax est. 1.5%: −$174 /mo · $2,085/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$491
• Net cashflow: $886

Break-even live

Break-even rent $1,216

Max offer price $139,000

Occupancy floor 57%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,338
Total (2 units)			$2,337

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4702 N 44th St Milwaukee, WI	3.0	2.0	1050	$1,850	$1.76	44d	1	0.49mi
5032 N 32nd St Milwaukee, WI	3.0	2.0	1089	$1,750	$1.61	12d	1	0.50mi
4334 W Eggert Pl Milwaukee, WI	4.0	1.0	1077	$1,695	$1.57	24d	1	0.74mi
4340 W Eggert Pl Milwaukee, WI	4.0	1.0	1066	$1,695	$1.59	24d	1	0.75mi
5073 N 48th St Milwaukee, WI	4.0	1.0	1152	$1,595	$1.38	15d	1	0.89mi
3925 N 42nd St Milwaukee, WI	3.0	1.0	1300	$1,675	$1.29	44d	1	1.06mi
5541 N 35th St #5543 Milwaukee, WI	3.0	1.0	1130	$1,195	$1.06	4d	1	1.06mi
4139 N 50th St Milwaukee, WI	3.0	1.0	1275	$1,600	$1.25	44d	1	1.16mi
2116 W Atkinson Ave Unit A Milwaukee, WI	4.0	1.0	1707	$2,000	$1.17	2d	1	1.25mi
4900 N 58th St Milwaukee, WI	3.0	1.0	1455	$1,450	$1.00	4d	1	1.38mi

Listing history 10 events

1. 2026-06-03
   status $139,000 Pending 241 DOM
2. 2026-06-02
   days on market $139,000 Active 241 DOM
3. 2026-06-01
   days on market $139,000 Active 240 DOM
4. 2026-05-31
   days on market $139,000 Active 239 DOM
5. 2026-04-05
   status Active 440-char remark

   Show marketing remark (440 chars)

   Step into this move-in-ready duplex. Both units have been thoughtfully refreshed with new flooring, updated kitchens, and fresh paint throughout. Spacious living room areas offer ample space to gather, while large windows let in natural light. This property provides the option to live in one unit and rent the other to help offset your mortgage. The backyard is perfect for relaxing or entertaining, and off-street parking adds extra ease.

6. 2026-04-04
   historical 440-char remark

   Show marketing remark (440 chars)

   Step into this move-in-ready duplex. Both units have been thoughtfully refreshed with new flooring, updated kitchens, and fresh paint throughout. Spacious living room areas offer ample space to gather, while large windows let in natural light. This property provides the option to live in one unit and rent the other to help offset your mortgage. The backyard is perfect for relaxing or entertaining, and off-street parking adds extra ease.

7. 2026-04-01
   price $139,000 440-char remark

   Show marketing remark (440 chars)

   Step into this move-in-ready duplex. Both units have been thoughtfully refreshed with new flooring, updated kitchens, and fresh paint throughout. Spacious living room areas offer ample space to gather, while large windows let in natural light. This property provides the option to live in one unit and rent the other to help offset your mortgage. The backyard is perfect for relaxing or entertaining, and off-street parking adds extra ease.

8. 2026-02-24
   price $144,000 440-char remark

   Show marketing remark (440 chars)

   Step into this move-in-ready duplex. Both units have been thoughtfully refreshed with new flooring, updated kitchens, and fresh paint throughout. Spacious living room areas offer ample space to gather, while large windows let in natural light. This property provides the option to live in one unit and rent the other to help offset your mortgage. The backyard is perfect for relaxing or entertaining, and off-street parking adds extra ease.

9. 2025-12-13
   price $154,900 440-char remark

   Show marketing remark (440 chars)

   Step into this move-in-ready duplex. Both units have been thoughtfully refreshed with new flooring, updated kitchens, and fresh paint throughout. Spacious living room areas offer ample space to gather, while large windows let in natural light. This property provides the option to live in one unit and rent the other to help offset your mortgage. The backyard is perfect for relaxing or entertaining, and off-street parking adds extra ease.

10. 2025-10-03
    listed $164,900 Active 440-char remark

    Show marketing remark (440 chars)

    Step into this move-in-ready duplex. Both units have been thoughtfully refreshed with new flooring, updated kitchens, and fresh paint throughout. Spacious living room areas offer ample space to gather, while large windows let in natural light. This property provides the option to live in one unit and rent the other to help offset your mortgage. The backyard is perfect for relaxing or entertaining, and off-street parking adds extra ease.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $28,044
• − Mortgage interest: −$7,786
• − Property taxes: −$2,085
• − Insurance: −$695
• − Repairs & maintenance: −$2,244
• − Management: −$2,244
• − Depreciation: −$4,044
• Taxable income: $8,947
• Est. tax owed @ 24.0%: −$2,147
• After-tax cash flow: $8,480/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 · 1 photo

Good 75/100 Cosmetic rehab

This move-in-ready duplex has been thoughtfully refreshed with new flooring, updated kitchens, and fresh paint. The property offers the option to live in one unit and rent the other, making it a great investment opportunity.

Value-add opportunities

• Both Landscaping — Enhances curb appeal and adds value
• Both Painting exterior — Fresh paint improves curb appeal and value
• Both Landscaping and exterior maintenance — Maintains and enhances curb appeal and value

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping — Enhances curb appeal and adds value ↑
• Both Painting exterior — Fresh paint improves curb appeal and value ↑
• Both Landscaping and exterior maintenance — Maintains and enhances curb appeal and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-15.7% since first listed

6 events — show timeline

• 2026-04-05 Relisted — METROMLS
• 2026-04-04 Listing Removed — METROMLS
• 2026-04-01 Price Changed $139,000 METROMLS
• 2026-02-24 Price Changed $144,000 METROMLS
• 2025-12-13 Price Changed $154,900 METROMLS
• 2025-10-03 Listed $164,900 METROMLS