2807 S 9th St · Milwaukee, WI 53215

$299,000

3 bd · 3.0 ba · 1,552 sqft · MultiFamily public records · 19 Days on market

Built 1914 3,484 sqft lot Est $220k · 36% over

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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 +16.7/30.0
• DSCR +5.2/10.0
• 1% rule +4.1/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• 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: 3 units. confirmed

Listing remarks MLS

3-Unit available now on Milwaukee's south side. Perfect for an owner occupant as the upper unit is currently vacant.

Key facts

• Quality appliances
• Balcony deck
• Backyard space

Tags

• MAPLE HARDWOOD FLOORS
• CUSTOM TILE BATHROOM FLOOR
• BALCONY DECK
• QUALITY APPLIANCES
• BACKYARD SPACE
• QUICK ACCESS TO INTERSTATE

Property features AI

Finance

• Other: Seller excludes personal property and tenants' personal property
• Financial info: Property contains 3 units; Acreage less than 1/2 (approx. 0.08)

Exterior

• Parking: Inside parking available; Outside parking available
• Utilities: Municipal water; Municipal sewer
• Home design: Multi-family property; Apartment building / Duplex+; 1-2 stories; Zoning: RT4
• Construction: Aluminum construction materials; Year built: Assessor/Public Record
• Exterior features: Aluminum/steel exterior; Outdoor space

Interior

• Kitchen: 3 stoves; 3 refrigerators
• Heating & cooling: Forced air heating; Natural gas fuel
• Interior features: Block full basement
• Laundry & utility: Washer and dryer in back hallway are tenant-owned; Seller-owned water heater

What this means for you Summary

Snapshot

• This is a 2×1bd/1ba + 1×2bd/1ba units multifamily listed at $299k.

Deal economics

• At list price, monthly cash flow is $183 ($2k/yr) — positive. Per door: $61/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $271k (9.4% below list).
• Recommended offer: $271k (9.4% below list) — sets the bar for 1% rule.
• Cap rate 7.0% 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 (+5.0%/yr); 56 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $2,708/mo this rent would consume 60% of the median local household income ($54k/yr) (locally 2283% 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 $2k of loan paydown is wiped out by about $9k 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.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($295k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y ago; this cycle's ask has dropped $21k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $205k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $270,800 (9.4% 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 1914 — 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. 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?
8. 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.
9. 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.
10. 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: 0.91% ✗
• Cap rate: 7.03%
• Cash-on-cash: 2.63%
• DSCR: 1.12
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $220,384
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2657 S 15th Pl Unit 2657A	0.55mi	3/2.0	1,538 (-1%)	4mo	$245,000	$159	66
2459 S 5th St	0.55mi	3/2.0	1,598 (+3%)	1mo	$166,000	$104	65
2978 S 9th Pl	0.22mi	4/2.0 (+1)	1,688 (+9%)	4mo	$295,000	$175	63
2907 S 11th St	0.22mi	4/2.0 (+1)	1,692 (+9%)	7mo	$241,000	$142	60
2837 S 15th St	0.45mi	3/2.0	1,691 (+9%)	2mo	$262,000	$155	58
2834 S 8th St	0.09mi	4/2.0 (+1)	1,769 (+14%)	8mo	$220,000	$124	57
2445 S 5th Pl Unit 2445A	0.55mi	3/2.0	1,453 (-6%)	4mo	$173,000	$119	56
2446 S 6th St Unit 2446A	0.53mi	3/2.0	1,677 (+8%)	6mo	$190,000	$113	53
2435 S 12th St	0.54mi	2/1.0 (-1)	1,490 (-4%)	4mo	$115,000	$77	52
3349 S 7th St	0.69mi	4/3.0 (+1)	1,665 (+7%)	2mo	$318,000	$191	49
3309 S 7th St #3311	0.63mi	4/2.0 (+1)	1,620 (+4%)	8mo	$280,000	$173	48
2535 S 15th St	0.56mi	4/2.0 (+1)	1,760 (+13%)	6mo	$182,000	$103	37

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 · 5.02% rent growth · sell at horizon

5-year hold

• IRR: -10.0%
• Equity multiple: 0.63×
• Total profit: $-31,177
• Equity at exit: $44,582

10-year hold

• IRR: 1.8%
• Equity multiple: 1.14×
• Total profit: $11,801
• Equity at exit: $25,852

Cash invested: $83,720 (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 53215

• Home prices YoY: -13.6%
• Rents YoY: 5.0%
• Active inventory: 56
• Price-to-rent: 27.8×

Monthly cashflow live

• Estimated rent: $2,708 high
• Mortgage (P&I): −$1,568
• Tax from tax record: −$263 /mo · $3,159/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$569
• Net cashflow: $183

Break-even live

Break-even rent $2,476

Max offer price $299,000

Occupancy floor 88%

Sensitivity live

Price	-10% $353	-5% $268	+0% $183	+5% $99	+10% $14
Rent	-10% $-30	-5% $77	+0% $183	+5% $290	+10% $397
Rate	-1.0pp $334	-0.5pp $260	base $183	+0.5pp $106	+1.0pp $27

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$1,794
1× unit	2	1	$915
Total (3 units)			$2,708

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2437 S Howell Ave Unit 2nd Milwaukee, WI	3.0	1.0	1550	$1,895	$1.22	5d	1	1.03mi
3174 S 22nd St Milwaukee, WI	3.0	2.0	1340	$1,850	$1.38	11d	1	1.06mi
2141 S Robinson Ave Milwaukee, WI	3.0	1.0–2.0	1006	$2,695	$2.68	2d	20	1.15mi
1812 S 7th St Milwaukee, WI	3.0	1.5	1703	$2,100	$1.23	24d	1	1.23mi
923 E Otjen St Milwaukee, WI	3.0	2.0	1451	$3,175	$2.19	44d	1	1.35mi
2614 S Logan Ave Unit 2614 Milwaukee, WI	2.0	1.0	1200	$1,350	$1.12	18d	1	1.37mi

Listing history 13 events

1. 2026-06-21
   pricedays on market $299,000 Active 19 DOM
2. 2026-06-18
   days on market $309,900 Active 16 DOM
3. 2026-06-17
   days on market $309,900 Active 15 DOM
4. 2026-06-16
   days on market $309,900 Active 14 DOM
5. 2026-06-15
   days on market $309,900 Active 13 DOM
6. 2026-06-13
   days on market $309,900 Active 11 DOM
7. 2026-06-13
   pricedays on market $309,900 Active 10 DOM
8. 2026-06-09
   days on market $319,900 Active 7 DOM
9. 2026-06-08
   days on market $319,900 Active 6 DOM
10. 2026-06-07
    days on market $319,900 Active 5 DOM
11. 2026-06-05
    days on market $319,900 Active 2 DOM
12. 2026-06-03
    remarks 699-char remark
13. 2026-06-03
    listed $319,900 Active 1 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: $3,159 · $263/mo
• Projected year-2 tax: $4,345 · $362/mo
• Expected delta: +$1,186/yr (+$99/mo · 37.5%)

ⓘ 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 ≥96°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,496
• − Mortgage interest: −$16,749
• − Property taxes: −$3,159
• − Insurance: −$1,495
• − Repairs & maintenance: −$2,600
• − Management: −$2,600
• − Depreciation: −$8,698
• Taxable loss: −$2,804
• Est. tax savings @ 24.0%: +$673
• After-tax cash flow: $2,875/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): 58,146
• Household income: $54,289
• Rent vs Own: 52.6% rent · 47.4% own
• Severe rent burden: 2283.0

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 Hispanic (69%)
• Race & ethnicity: Hispanic / Latino 69% Two or more races 34% White 18% Asian 6% Black 5% Native American 2%
• Hispanic origin (detail): Mexican 52% Puerto Rican 12%
• Common ancestry: Romanian 6% Portuguese 1%
• Foreign-born: 31% · Canada, Philippines, Jamaica
• Languages at home: 35% English-only · Spanish 59% Other Asian/Pacific 3% Other Indo-European 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: ▼ -52.55%
• Current HPI: 332.891
• Rent YoY: ▲ 5.02%
• 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

+392.2% since first listed

13 events — show timeline

• 2026-06-02 Listed $319,900 METROMLS
• 2025-05-08 Rental Removed $950 Avail
• 2025-05-08 Rental Removed $950 Avail
• 2025-04-07 Listed for Rent $950 Avail
• 2025-04-07 Listed for Rent $775 Avail
• 2024-03-08 Sold (MLS) $205,000 METROMLS
• 2024-01-21 Listing Removed — METROMLS
• 2024-01-15 Contingent — METROMLS
• 2023-11-20 Listed $197,500 METROMLS
• 2015-06-24 Sold (Public Records) $61,000 Public Records
• 2015-06-05 Sold (MLS) $61,000 METROMLS
• 2015-05-26 Contingent — METROMLS
• 2015-05-19 Listed $65,000 METROMLS

Property tax history

-2.4%/yr

Latest (2024): $3,159 · +21.1% YoY. Source: county tax records.