5550 N 39th St Unit 5550A · Milwaukee, WI 53209

$59,000

6 bd · 4.0 ba · 1,566 sqft · MultiFamily · 5 Days on market

Built 1894 Poor condition 5,227 sqft lot ↓ 41% since listing

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.7/5.0
• Livability +4.0/5.0
• Schools +1.2/10.0
• Condition / age +1.0/5.0
• 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

Start cash flowing today. Great investment Property for any upcoming and current investors. Freshly painted an new flooring, Property is being sold ''As-is''. Broken windows will be fixed upon closing. Will Not pass FHA/VA financing. MOTIVATED SELLER!

Key facts

• 5,227 sq ft lot
• 2 garage spots
• Built 1894

Property features AI

Finance

• Financial info: Designed as a 2-unit building

Exterior

• Parking: Detached 2-car garage; 1 additional parking space
• Utilities: Municipal water; Municipal sewer; 2 electric meters; 2 gas meters
• Home design: 2-story duplex; Multi-family property; Zoning: RT3
• Construction: Less than 1/2 acre lot (0.12 acre)
• Exterior features: Wood exterior

Interior

• Kitchen: Unit 2 kitchen on upper level (approx. 10 x 15)
• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 1 bedroom (master on upper level, approx. 10 x 12)
• Bathrooms: Unit 1: 1 full bathroom; Unit 2: 1 full bathroom
• Interior features: Full block basement

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $59k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive. Per door: $917/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $59k).
• Cap rate 43.6% 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; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $2,837/mo this rent would consume 70% 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 $408 of loan paydown is wiped out by about $2k 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 $17k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 3y 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: built in 1894 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $59,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1894 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 4.81% ✓
• Cap rate: 43.58%
• Cash-on-cash: 133.18%
• DSCR: 6.93
• GRM: 1.7

CMA / ARV

• ARV (on-the-fly): $142,506
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5301 N 38th St	0.32mi	6/2.0	1,601 (+2%)	5mo	$145,000	$91	69

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: —
• Equity multiple: 8.40×
• Total profit: $122,251
• Equity at exit: $8,797

10-year hold

• IRR: —
• Equity multiple: 20.69×
• Total profit: $325,235
• Equity at exit: $5,101

Cash invested: $16,520 (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: 3.5×

Monthly cashflow live

• Estimated rent: $2,837 high
• Mortgage (P&I): −$309
• Tax est. 1.5%: −$74 /mo · $885/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$596
• Net cashflow: $1,833

Break-even live

Break-even rent $516

Max offer price $59,000

Occupancy floor 30%

Sensitivity live

Price	-10% $1,874	-5% $1,854	+0% $1,833	+5% $1,813	+10% $1,793
Rent	-10% $1,609	-5% $1,721	+0% $1,833	+5% $1,946	+10% $2,058
Rate	-1.0pp $1,863	-0.5pp $1,849	base $1,833	+0.5pp $1,818	+1.0pp $1,803

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,838
Total (2 units)			$2,837

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-05
   status $59,000 Pending 5 DOM
2. 2026-06-03
   days on market $59,000 Active 5 DOM
3. 2026-06-02
   days on market $59,000 Active 4 DOM
4. 2026-06-01
   days on market $59,000 Active 3 DOM
5. 2026-05-31
   days on market $59,000 Active 2 DOM

ⓘ 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: $34,044
• − Mortgage interest: −$3,305
• − Property taxes: −$885
• − Insurance: −$295
• − Repairs & maintenance: −$2,724
• − Management: −$2,724
• − Depreciation: −$1,716
• Taxable income: $22,396
• Est. tax owed @ 24.0%: −$5,375
• After-tax cash flow: $16,627/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 · 2 photos

Poor 20/100 Extensive rehab

This distressed multi-family property requires extensive repairs and renovation due to significant fire damage. Immediate safety and structural repairs are critical before any investment can be considered.

Repairs flagged

• Major roof — Exposed roof structure
• Major exterior siding — Significant fire damage and peeling paint
• Major flooring — Damaged and uneven
• Major interior walls — Visible fire damage and soot
• Major bathrooms — Damaged fixtures and surfaces
• Major kitchen — Damaged cabinets and countertops
• Major HVAC/mechanicals — Likely damaged

Value-add opportunities

• Both extensive fire damage repairs — Restores functionality and safety
• Both exterior siding and roof repairs — Enhances curb appeal and safety
• Both interior wall and ceiling repairs — Restores structural integrity and safety
• Both bathroom and kitchen updates — Improves functionality and aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Exposed roof structure	Major	$15,000–50,000
exterior siding · Significant fire damage and peeling paint	Major	$15,000–50,000
flooring · Damaged and uneven	Major	$15,000–50,000
interior walls · Visible fire damage and soot	Major	$15,000–50,000
bathrooms · Damaged fixtures and surfaces	Major	$15,000–50,000
kitchen · Damaged cabinets and countertops	Major	$15,000–50,000
HVAC/mechanicals · Likely damaged	Major	$15,000–50,000
Total estimated repair cost · 7 items		$105,000–350,000

Value-add ROI direction

• Both extensive fire damage repairs — Restores functionality and safety ↑
• Both exterior siding and roof repairs — Enhances curb appeal and safety ↑
• Both interior wall and ceiling repairs — Restores structural integrity and safety ↑
• Both bathroom and kitchen updates — Improves functionality and aesthetics ↑

ⓘ 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

-40.9% since first listed

12 events — show timeline

• 2026-05-29 Listed $59,000 METROMLS
• 2023-10-16 Pending — METROMLS
• 2023-10-13 Listing Removed — METROMLS
• 2023-10-06 Price Changed $50,000 METROMLS
• 2023-09-21 Price Changed $70,000 METROMLS
• 2023-08-29 Price Changed $80,000 METROMLS
• 2023-08-14 Price Changed $86,000 METROMLS
• 2023-07-19 Price Changed $95,000 METROMLS
• 2023-07-19 Relisted — METROMLS
• 2023-06-27 Pending — METROMLS
• 2023-05-19 Price Changed $89,900 METROMLS
• 2023-05-04 Listed $99,900 METROMLS