3806 W Hope Ave · Milwaukee, WI 53216

$149,900

4 bd · 1.5 ba · 1,400 sqft · SingleFamily public records · 34 Days on market

Built 1947 6,534 sqft lot Est $178k · 16% 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 +22.1/30.0
• ARV discount +14.6/15.0
• DSCR +7.1/10.0
• 1% rule +6.1/10.0
• 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

Listing remarks MLS

Single Family Home--Needs some TLC. Must see.

Key facts

• 6,534 sq ft lot
• Garage
• Built 1947

Property features AI

Exterior

• Parking: Attached 1-car garage
• Utilities: Municipal water; Municipal sewer; Natural gas service
• Home design: 1.5-story single-family home; Located in the Lincoln Park View subdivision; Zoned residential
• Construction: Block full basement; Information source: assessor/public record
• Exterior features: Aluminum and aluminum/steel siding; Brick and brick/stone accents; Lot less than 1/2 acre

Interior

• Kitchen: Kitchen on main level (12 x 10)
• Bedrooms: Master bedroom 16 x 14 (Upper); Bedroom 2 12 x 10 (Upper); Bedroom 3 11 x 12 (Upper)
• Bathrooms: One full bath with tub/shower combination; One half bath
• Heating & cooling: Forced air heating (natural gas)
• Interior features: Cable/satellite available; High-speed internet
• Laundry & utility: Full basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $187 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $145k (3.0% 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+, 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: Clemens Elementary (math 5% / reading 2%, grade F, #1,021 of 1,041 statewide, top 98%, 285 students, 99% FRL); James Madison Academic Campus (math 5% / reading 5%, grade F, #467 of 483 statewide, top 100%, 686 students, 89% FRL) — zoned schools average 94% FRL vs 77% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+7.0%/yr); 130 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).

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 $42k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 13y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 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 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.11% ✓
• Cap rate: 8.23%
• Cash-on-cash: 6.93%
• DSCR: 1.31
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $177,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4265 N 39th St	0.09mi	3/1.5 (-1)	1,408 (+1%)	3mo	$220,000	$156	87
4143 N 40th St	0.14mi	3/1.0 (-1)	1,309 (-6%)	1mo	$130,000	$99	75
4032 N 42nd St	0.29mi	4/1.5	1,554 (+11%)	2mo	$225,000	$145	66
3901 N 37th St	0.41mi	3/2.0 (-1)	1,500 (+7%)	0mo	$162,500	$108	62
4109 N 40th St	0.17mi	4/3.0	1,597 (+14%)	2mo	$245,000	$153	61
3724 N 37th St	0.61mi	3/2.0 (-1)	1,440 (+3%)	0mo	$175,000	$122	60
4150 N 46th St	0.50mi	3/2.0 (-1)	1,275 (-9%)	0mo	$170,000	$133	55
4240 W Fiebrantz Ave	0.31mi	3/1.0 (-1)	1,590 (+14%)	2mo	$148,000	$93	54
4509 N 48th St	0.74mi	3/2.0 (-1)	1,372 (-2%)	2mo	$200,000	$146	53
4650 N 38th St	0.57mi	3/1.0 (-1)	1,237 (-12%)	1mo	$145,000	$117	47
4354 N 29th St	0.64mi	4/2.0	1,573 (+12%)	3mo	$200,000	$127	45
3628 N 38th St	0.68mi	3/1.0 (-1)	1,584 (+13%)	0mo	$175,000	$110	39

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: 10.8%
• Equity multiple: 1.58×
• Total profit: $24,215
• Equity at exit: $53,751

10-year hold

• IRR: 16.9%
• Equity multiple: 3.36×
• Total profit: $99,169
• Equity at exit: $73,467

Cash invested: $41,972 (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: 7.5×

Monthly cashflow live

• Estimated rent: $1,670 high
• Mortgage (P&I): −$786
• Tax from tax record: −$229 /mo · $2,744/yr
• Insurance: −$62
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $187

Break-even live

Break-even rent $1,434

Max offer price $149,900

Occupancy floor 84%

Sensitivity live

Price	-10% $272	-5% $229	+0% $187	+5% $144	+10% $102
Rent	-10% $55	-5% $121	+0% $187	+5% $253	+10% $319
Rate	-1.0pp $262	-0.5pp $225	base $187	+0.5pp $148	+1.0pp $108

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3925 N 42nd St Milwaukee, WI	3.0	1.0	1300	$1,675	$1.29	45d	1	0.44mi
4702 N 44th St Milwaukee, WI	3.0	2.0	1050	$1,850	$1.76	45d	1	0.69mi
4703 N 45th St Milwaukee, WI	3.0	1.0	1031	$1,695	$1.64	25d	1	0.74mi
4139 N 50th St Milwaukee, WI	3.0	1.0	1275	$1,600	$1.25	45d	1	0.77mi
4727 N 46th St Milwaukee, WI	3.0	1.0	936	$1,700	$1.82	45d	1	0.81mi
5032 N 32nd St Milwaukee, WI	3.0	2.0	1089	$1,750	$1.61	14d	1	1.12mi
2116 W Atkinson Ave Unit A Milwaukee, WI	4.0	1.0	1707	$2,000	$1.17	3d	1	1.14mi
3388 N 27th St Unit 3388 Front House Milwaukee, WI	4.0	1.0	1212	$1,550	$1.28	6d	1	1.14mi
2821 W Concordia Ave Milwaukee, WI	3.0	1.5	1098	$1,595	$1.45	4d	1	1.20mi
2704 W Concordia Ave Unit Na Milwaukee, WI	5.0	2.0	1856	$2,500	$1.35	25d	1	1.22mi
4334 W Eggert Pl Milwaukee, WI	4.0	1.0	1077	$1,695	$1.57	25d	1	1.23mi
4340 W Eggert Pl Milwaukee, WI	4.0	1.0	1066	$1,695	$1.59	25d	1	1.23mi
5073 N 48th St Milwaukee, WI	4.0	1.0	1152	$1,595	$1.38	16d	1	1.25mi
5165-5167 N 45th St Unit 5165 Milwaukee, WI	3.0	1.0	1020	$1,200	$1.18	19d	1	1.26mi
3122 N 42nd St Milwaukee, WI	3.0	1.0	1323	$1,495	$1.13	6d	1	1.28mi
3123 N 42nd St Milwaukee, WI	4.0	1.0	1500	$1,700	$1.13	25d	1	1.29mi
2106A W Keefe Ave Unit 2106 Lower Milwaukee, WI	3.0	1.0	1300	$1,100	$0.85	19d	1	1.38mi
4900 N 58th St Milwaukee, WI	3.0	1.0	1455	$1,450	$1.00	6d	1	1.49mi

Listing history 8 events

1. 2026-06-13
   statusdays on market $149,900 Pending 34 DOM
2. 2026-06-09
   days on market $149,900 Active 32 DOM
3. 2026-06-08
   days on market $149,900 Active 31 DOM
4. 2026-06-07
   days on market $149,900 Active 30 DOM
5. 2026-06-05
   days on market $149,900 Active 27 DOM
6. 2026-06-03
   days on market $149,900 Active 26 DOM
7. 2026-06-02
   days on market $149,900 Active 25 DOM
8. 2026-06-02
   listed $149,900 Active 24 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: $2,744 · $229/mo
• Projected year-2 tax: $2,759 · $230/mo
• Expected delta: +$14/yr (+$1/mo · 0.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 76% 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: $20,043
• − Mortgage interest: −$8,397
• − Property taxes: −$2,744
• − Insurance: −$1,416
• − Repairs & maintenance: −$1,603
• − Management: −$1,603
• − Depreciation: −$4,361
• Taxable loss: −$81
• Est. tax savings @ 24.0%: +$20
• After-tax cash flow: $2,260/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

+17.2% since first listed

14 events — show timeline

• 2026-05-08 Listed $149,900 METROMLS
• 2024-08-29 Sold (Public Records) $1,246,800 Public Records
• 2022-01-28 Sold (Public Records) $104,100 Public Records
• 2013-02-09 Listed $39,900 METROMLS
• 2013-02-09 Listing Removed — METROMLS
• 2013-02-09 Listing Removed — METROMLS
• 2013-02-09 Listed $39,000 METROMLS
• 2013-02-08 Listing Removed — METROMLS
• 2013-02-08 Listed $99,000 METROMLS
• 2013-01-28 Listed $34,900 METROMLS
• 2013-01-28 Listing Removed — METROMLS
• 2011-12-15 Sold (MLS) $19,900 METROMLS
• 2006-04-26 Sold (Public Records) $127,900 Public Records
• 2006-04-14 Sold (MLS) $127,900 METROMLS

Property tax history

+1.2%/yr

Latest (2024): $2,744 · +11.5% YoY. Source: county tax records.