2701 N 37th St #2703 · Milwaukee, WI 53210

$134,900

4 bd · 2.4 ba · 1,964 sqft · MultiFamily · 24 Days on market

Built 1920 Good condition 3,484 sqft lot Est $112k · 21% over

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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
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +3.5/5.0
• 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

Generous sized freshly rehabbed Sherman Park duplex, all new flooring, fresh paint inside and out. Newly updated kitchens and baths, perfect for new owner to choose new tenants or occupy. Parking slab in back. Nice low taxes.

Key facts

• 3,484 sq ft lot
• 2 garage spots
• Built 1920

Property features AI

Finance

• Other: Inclusions: None; Exclusions: Seller's personal property

Exterior

• Parking: 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
• Construction: Year built: assessor/public record
• Exterior features: Stucco/Slate exterior; Lot size approximately 0.08 acres (less than 1/2 acre); Zoned Rt2

Interior

• Kitchen: Unit 2 kitchen on upper level
• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 2 bedrooms (master and second bedroom on upper level)
• Bathrooms: Unit 1: 1 full bath and 1 half bath; Unit 2: 1 full bath
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $135k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $701 ($8k/yr) — positive. Per door: $350/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $133k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.5% 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 (+3.8%/yr); 143 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $2,067/mo this rent would consume 51% of the median local household income ($48k/yr) (locally 1730% 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 $933 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 + 3.8% rent growth), your $38k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 14y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $14k; list at $135k implies a 864% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $132,876 (1.5% below list)

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. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.53% ✓
• Cap rate: 12.53%
• Cash-on-cash: 22.26%
• DSCR: 1.99
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $111,948
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2760 N 35th St Unit 2760A	0.17mi	5/2.0 (+1)	1,897 (-3%)	2mo	$107,500	$57	78
2873 N 34th St #2875	0.29mi	4/2.0	1,888 (-4%)	1mo	$108,500	$57	77
2400 N 35th St #2402	0.40mi	5/2.0 (+1)	1,994 (+2%)	1mo	$65,000	$33	71
3024 N 44th St	0.59mi	4/2.0	1,998 (+2%)	1mo	$120,775	$60	67
2838 N 40th St #2840	0.23mi	4/2.0	2,202 (+12%)	2mo	$65,000	$30	66
3148 N 39th St #3150	0.58mi	4/2.0	2,044 (+4%)	2mo	$128,888	$63	63
2149 N 41st St	0.70mi	4/2.0	1,931 (-2%)	1mo	$33,000	$17	62
3166 N 39th St #3168	0.60mi	4/2.0	2,064 (+5%)	2mo	$145,000	$70	60
3068 N 34th St Unit 3068A	0.52mi	5/2.0 (+1)	2,087 (+6%)	0mo	$110,000	$53	59
2137 N 31st St	0.74mi	5/2.0 (+1)	1,919 (-2%)	1mo	$138,500	$72	54
2972 N 28th St	0.69mi	4/2.0	1,757 (-10%)	0mo	$141,806	$81	48
2162 N 35th St	0.65mi	5/2.0 (+1)	1,750 (-11%)	2mo	$8,500	$5	44

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 · 3.82% rent growth · sell at horizon

5-year hold

• IRR: 16.0%
• Equity multiple: 1.65×
• Total profit: $24,517
• Equity at exit: $20,114

10-year hold

• IRR: 25.2%
• Equity multiple: 3.28×
• Total profit: $86,112
• Equity at exit: $11,664

Cash invested: $37,772 (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 53210

• Home prices YoY: -21.5%
• Rents YoY: 3.8%
• Active inventory: 143
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $2,067 high
• Mortgage (P&I): −$707
• Tax est. 1.5%: −$169 /mo · $2,024/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$434
• Net cashflow: $701

Break-even live

Break-even rent $1,180

Max offer price $134,900

Occupancy floor 61%

Sensitivity live

Price	-10% $794	-5% $747	+0% $701	+5% $654	+10% $607
Rent	-10% $537	-5% $619	+0% $701	+5% $782	+10% $864
Rate	-1.0pp $769	-0.5pp $735	base $701	+0.5pp $666	+1.0pp $630

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,066
Total (2 units)			$2,067

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2713 N 44th St Milwaukee, WI	3.0	1.0	1450	$1,350	$0.93	45d	1	0.46mi
2809 W Clarke St Unit 12811 Milwaukee, WI	3.0	1.0	1400	$1,200	$0.86	18d	1	0.57mi
2870 N 29th St #2872 Milwaukee, WI	3.0	1.0	1300	$1,250	$0.96	45d	1	0.58mi
3122 N 42nd St Milwaukee, WI	3.0	1.0	1323	$1,495	$1.13	6d	1	0.60mi
3123 N 42nd St Milwaukee, WI	4.0	1.0	1500	$1,700	$1.13	25d	1	0.61mi
2432 N 28th St Milwaukee, WI	5.0	1.5	1876	$1,600	$0.85	45d	1	0.67mi
2001 N 38th St #2003 Milwaukee, WI	3.0	1.0	1326	$950	$0.72	3d	1	0.79mi
2976 N 49th St Milwaukee, WI	3.0	1.0	1700	$1,300	$0.76	18d	1	0.82mi
2629 N 50th St Unit Upper Milwaukee, WI	3.0	1.0	1258	$1,375	$1.09	4d	1	0.84mi
2409 N 49th St Milwaukee, WI	3.0	1.0	1335	$1,248	$0.93	45d	1	0.86mi
2438 N 51st St Unit 2 Milwaukee, WI	3.0	1.0	1300	$1,650	$1.27	25d	1	0.93mi
2308 W Clarke St Milwaukee, WI	4.0	2.0	1545	$1,750	$1.13	25d	1	0.94mi
2137 N 47th St Milwaukee, WI	5.0	2.0	1723	$1,850	$1.07	16d	1	0.95mi
2704 W Concordia Ave Unit Na Milwaukee, WI	5.0	2.0	1856	$2,500	$1.35	25d	1	1.01mi
1639 N 33rd St Milwaukee, WI	3.0	1.0	1424	$950	$0.67	25d	1	1.10mi
3155 N 52nd St Milwaukee, WI	3.0	2.0	1300	$1,400	$1.08	45d	1	1.12mi
2119 W Brown St Milwaukee, WI	3.0	1.0	1754	$995	$0.57	4d	1	1.32mi
3925 N 42nd St Milwaukee, WI	3.0	1.0	1300	$1,675	$1.29	45d	1	1.45mi
2106A W Keefe Ave Unit 2106 Lower Milwaukee, WI	3.0	1.0	1300	$1,100	$0.85	18d	1	1.48mi

Listing history 32 events

1. 2026-06-21
   days on market $134,900 Active 24 DOM
2. 2026-06-18
   days on market $134,900 Active 21 DOM
3. 2026-06-17
   days on market $134,900 Active 20 DOM
4. 2026-06-16
   days on market $134,900 Active 19 DOM
5. 2026-06-15
   days on market $134,900 Active 18 DOM
6. 2026-06-13
   days on market $134,900 Active 16 DOM
7. 2026-06-13
   days on market $134,900 Active 15 DOM
8. 2026-06-10
   price $134,900 Active 12 DOM
9. 2026-06-09
   days on market $144,900 Active 12 DOM
10. 2026-06-08
    days on market $144,900 Active 11 DOM
11. 2026-06-07
    days on market $144,900 Active 10 DOM
12. 2026-06-05
    days on market $144,900 Active 7 DOM
13. 2026-06-03
    days on market $144,900 Active 6 DOM
14. 2026-06-02
    days on market $144,900 Active 5 DOM
15. 2026-06-01
    days on market $144,900 Active 4 DOM
16. 2026-05-31
    days on market $144,900 Active 3 DOM
17. 2026-05-27
    listed $144,900 Active
18. 2025-11-19
    historical 225-char remark

    Show marketing remark (225 chars)

    Generous sized freshly rehabbed Sherman Park duplex, all new flooring, fresh paint inside and out. Newly updated kitchens and baths, perfect for new owner to choose new tenants or occupy. Parking slab in back. Nice low taxes.

19. 2025-11-18
    status Active 225-char remark

    Show marketing remark (225 chars)

    Generous sized freshly rehabbed Sherman Park duplex, all new flooring, fresh paint inside and out. Newly updated kitchens and baths, perfect for new owner to choose new tenants or occupy. Parking slab in back. Nice low taxes.

20. 2025-11-10
    historical Contingent 225-char remark

    Show marketing remark (225 chars)

    Generous sized freshly rehabbed Sherman Park duplex, all new flooring, fresh paint inside and out. Newly updated kitchens and baths, perfect for new owner to choose new tenants or occupy. Parking slab in back. Nice low taxes.

21. 2025-10-01
    listed $155,000 Active 225-char remark

    Show marketing remark (225 chars)

    Generous sized freshly rehabbed Sherman Park duplex, all new flooring, fresh paint inside and out. Newly updated kitchens and baths, perfect for new owner to choose new tenants or occupy. Parking slab in back. Nice low taxes.

22. 2014-08-05
    historical 350-char remark

    Show marketing remark (350 chars)

    HERE IS A BARGAIN. .. SUPER RETURN ON INVESTMENT . .. Great Cash flow in this Updated kitchens and baths. This 2/2 unit are tenant occupied and are month to month. Close to bus lines and schools. Great for owner or investor. Seller liquidating and this is the last of the duplexes. All occupied, there are no outstanding work orders on property. ..

23. 2014-08-05
    listed $19,900 350-char remark

    Show marketing remark (350 chars)

    HERE IS A BARGAIN. .. SUPER RETURN ON INVESTMENT . .. Great Cash flow in this Updated kitchens and baths. This 2/2 unit are tenant occupied and are month to month. Close to bus lines and schools. Great for owner or investor. Seller liquidating and this is the last of the duplexes. All occupied, there are no outstanding work orders on property. ..

24. 2012-10-10
    historical
25. 2012-10-10
    listed $97,000
26. 2012-10-09
    listed $135,000
27. 2012-10-09
    historical
28. 2012-10-09
    listed $17,500
29. 2012-10-09
    historical
30. 2012-10-09
    historical
31. 2012-10-09
    listed $130,000
32. 2008-11-18
    soldstatus $14,000

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 21% 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: $24,804
• − Mortgage interest: −$7,556
• − Property taxes: −$2,024
• − Insurance: −$674
• − Repairs & maintenance: −$1,984
• − Management: −$1,984
• − Depreciation: −$3,924
• Taxable income: $6,656
• Est. tax owed @ 24.0%: −$1,598
• After-tax cash flow: $6,810/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 · 13 photos

Good 80/100 Cosmetic rehab

This 2/2 duplex is in good condition with fresh updates, making it a great investment opportunity.

Value-add opportunities

• Both landscaping — improve curb appeal and increase property value
• Both add smart home features — attract tech-savvy buyers and renters
• Both install energy-efficient windows — reduce utility costs and increase property value

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — improve curb appeal and increase property value ↑
• Both add smart home features — attract tech-savvy buyers and renters ↑
• Both install energy-efficient windows — reduce utility costs and increase property 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): 23,922
• Household income: $48,217
• Rent vs Own: 60.4% rent · 39.6% own
• Severe rent burden: 1730.0

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 (71%)
• Race & ethnicity: Black 71% White 17% Hispanic / Latino 6% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Romanian 2% Portuguese 1% Italian 1%
• Foreign-born: 3% · Canada, Philippines
• Languages at home: 94% English-only · Spanish 3% 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: ▼ -76.77%
• Current HPI: 280.0133
• Rent YoY: ▲ 3.82%
• 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

+935.0% since first listed

16 events — show timeline

• 2026-05-27 Listed $144,900 METROMLS
• 2025-11-19 Listing Removed — METROMLS
• 2025-11-18 Relisted — METROMLS
• 2025-11-10 Contingent — METROMLS
• 2025-10-01 Listed $155,000 METROMLS
• 2014-08-05 Listed $19,900 METROMLS
• 2014-08-05 Listing Removed — METROMLS
• 2012-10-10 Listed $97,000 METROMLS
• 2012-10-10 Listing Removed — METROMLS
• 2012-10-09 Listing Removed — METROMLS
• 2012-10-09 Listed $135,000 METROMLS
• 2012-10-09 Listing Removed — METROMLS
• 2012-10-09 Listed $17,500 METROMLS
• 2012-10-09 Listed $130,000 METROMLS
• 2012-10-09 Listing Removed — METROMLS
• 2008-11-18 Sold (MLS) $14,000 METROMLS