1815 W Galena St · Milwaukee, WI 53205

$139,900

3 bd · 1.5 ba · 1,326 sqft · SingleFamily public records · 24 Days on market

Built 1881 0.90 ac lot $106/sqft · 28% below area Est $195k · 28% 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 +25.0/30.0
• ARV discount +15.0/15.0
• DSCR +8.1/10.0
• Appreciation +6.5/10.0
• 1% rule +6.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks MLS

harming and fully remodeled home with plenty of updates and space! The main floor offers 1 bedroom and 1 full bathroom, while the upper level includes 2 additional bedrooms, with one as a walk-through. A convenient commode is located in the basement. This property was thoughtfully remodeled between 2022-2023 with major updates including new roof, gutters, downspouts, central air, water heater, plumbing, electrical, furnace, kitchen, bathroom, bedrooms, flooring, and paint. Outside, you'll enjoy a large fenced yard perfect for outdoor living, plus parking for up to 3 cars. Move-in ready and well maintained!

Key facts

• Large fenced yard
• Parking for 3 cars
• Central air

Tags

• REMODELED HOME
• NEW ROOF
• CENTRAL AIR
• LARGE FENCED YARD
• PARKING FOR 3 CARS

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $303 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $138k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.9% 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: 28 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $1,543/mo this rent would consume 59% of the median local household income ($32k/yr) (locally 636% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $5k of equity ($967 loan paydown + $4k appreciation (3.0% local appreciation)).
• 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 + 3.0% rent growth), your $39k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 12y 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.
• Current owner paid $110k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1881 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $137,801 (1.5% below list)

Questions for the listing agent

1. Built in 1881 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.10% ✓
• Cap rate: 8.90%
• Cash-on-cash: 9.29%
• DSCR: 1.41
• GRM: 7.6

CMA / ARV

• ARV (median comp): $194,903
• List price: $139,900
• Delta: -28.22%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1815 W Galena St	0.00mi	3/1.5	1,326 (0%)	0mo	$135,000	$102	100
1314 N 22nd St	0.33mi	4/1.0 (+1)	1,380 (+4%)	4mo	$105,000	$76	67
1949 N 22nd St	0.40mi	3/1.0	1,360 (+3%)	14mo	$135,000	$99	64
2007 W Vliet St	0.23mi	3/2.5	1,448 (+9%)	10mo	$280,000	$193	62
2200 W Galena St	0.24mi	3/1.5	1,512 (+14%)	6mo	$155,000	$103	60
2025 W Vliet St	0.24mi	3/2.5	1,448 (+9%)	13mo	$280,000	$193	58
2816 W Vliet St	0.70mi	3/2.0	1,344 (+1%)	11mo	$180,000	$134	54
1713 W Highland Ave	0.50mi	4/1.5 (+1)	1,222 (-8%)	18mo	$165,000	$135	44
2449 W Highland Ave	0.65mi	4/1.5 (+1)	1,482 (+12%)	8mo	$165,000	$111	39
2455 W Brown St	0.55mi	3/1.0	1,152 (-13%)	16mo	$147,000	$128	38
1955 N 26th St	0.65mi	3/1.0	1,176 (-11%)	14mo	$172,500	$147	37
1444 N 29th St	0.72mi	4/2.0 (+1)	1,158 (-13%)	6mo	$76,000	$66	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.02% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.2%
• Equity multiple: 1.93×
• Total profit: $36,341
• Equity at exit: $63,089

10-year hold

• IRR: 17.8%
• Equity multiple: 3.61×
• Total profit: $102,085
• Equity at exit: $97,372

Cash invested: $39,172 (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 53205

• Home prices YoY: 0.8%
• Active inventory: 28
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,543 high
• Mortgage (P&I): −$734
• Tax from tax record: −$123 /mo · $1,481/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $303

Break-even live

Break-even rent $1,159

Max offer price $139,900

Occupancy floor 75%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1430 N 21st St Unit 2 Milwaukee, WI	2.0	1.0	1000	$975	$0.97	43d	1	0.18mi
2119 W Brown St Milwaukee, WI	3.0	1.0	1754	$995	$0.57	3d	1	0.39mi
2419 W McKinley Ave Milwaukee, WI	2.0	1.0	1852	$1,200	$0.65	43d	1	0.47mi
2478-2480 W Juneau Ave Unit 2478 Milwaukee, WI	4.0	1.0	1375	$1,495	$1.09	23d	1	0.57mi
1116 N 13th St Milwaukee, WI	3.0	1.0	1400	$1,345	$0.96	14d	1	0.57mi
1239 N 26th St Unit 1 Milwaukee, WI	3.0	1.0	1300	$1,400	$1.08	44d	1	0.61mi
1239 N 26th St Unit 1 Milwaukee, WI	3.0	1.0	1300	$1,400	$1.08	43d	1	0.61mi
1235 N 26th St Milwaukee, WI	3.0	1.0	900	$950	$1.06	43d	1	0.61mi
1303 N 10th St Milwaukee, WI	3.0	1.0–2.0	797	$2,990	$3.75	2d	26	0.63mi
2610 W Juneau Ave Unit 2610 Milwaukee, WI	3.0	1.0	893	$1,400	$1.57	23d	1	0.64mi
1009 W Juneau Ave Unit 114 Milwaukee, WI	2.0	1.5	900	$2,350	$2.61	43d	1	0.69mi
901 W Winnebago St Milwaukee, WI	1.0–3.0	1.0–2.0	1359	$2,629	$1.93	2d	10	0.71mi
936 N 25th St Unit 1 Milwaukee, WI	2.0	1.0	900	$1,338	$1.49	43d	1	0.72mi
3109 W Walnut St Milwaukee, WI	2.0	1.0	1000	$1,095	$1.09	43d	1	0.88mi
1515 N 32nd St Unit 1515 Milwaukee, WI	3.0	1.0	1200	$1,245	$1.04	4d	1	0.93mi
1639 N 33rd St Milwaukee, WI	3.0	1.0	1424	$950	$0.67	23d	1	1.00mi
501 N 20th St Apt C Milwaukee, WI	3.0	2.0	1122	$1,800	$1.60	17d	1	1.02mi
2308 W Clarke St Milwaukee, WI	4.0	2.0	1545	$1,750	$1.13	23d	1	1.09mi
2201 N 32nd St Unit 2201 Milwaukee, WI	3.0	1.0	1100	$1,195	$1.09	16d	1	1.09mi
2630 N 24th St Milwaukee, WI	2.0	1.0	934	$1,450	$1.55	19d	1	1.13mi
1141 N Doctor Martin Luther King Junior Dr Milwaukee, WI	1.0–3.0	1.0–2.5	1861	$6,250	$3.36	2d	6	1.14mi
2407 N 6th St Milwaukee, WI	2.0	1.0	897	$1,100	$1.23	43d	1	1.17mi
2809 W Clarke St Unit 12811 Milwaukee, WI	3.0	1.0	1400	$1,200	$0.86	17d	1	1.22mi
2741 N 23rd St Milwaukee, WI	3.0	1.0	900	$1,050	$1.17	14d	1	1.26mi
2741 N 23rd St Unit 2 Milwaukee, WI	3.0	1.0	1000	$1,100	$1.10	17d	1	1.26mi
2001 N 38th St #2003 Milwaukee, WI	3.0	1.0	1326	$950	$0.72	2d	1	1.35mi
823 N 2nd St Milwaukee, WI	2.0	1.0	985	$1,755	$1.78	3d	7	1.35mi
720 N Old World 3rd St Milwaukee, WI	1.0–2.0	1.0–2.0	921	$1,990	$2.16	1d	11	1.37mi
2765 N 26th St Unit 2 Milwaukee, WI	2.0	1.0	1100	$1,100	$1.00	4d	1	1.37mi
2765 N 26th St Unit 1 Milwaukee, WI	3.0	1.0	1125	$1,200	$1.07	4d	1	1.37mi
401 W Michigan St Milwaukee, WI	2.0	1.0–2.0	913	$2,218	$2.43	4d	6	1.38mi
630 N Vel R Phillips Ave Milwaukee, WI	1.0–2.0	1.0–2.0	1058	$2,219	$2.10	3d	9	1.40mi
270 E Highland Ave Milwaukee, WI	2.0	2.0	1069	$2,700	$2.53	23d	1	1.41mi
270 E Highland Ave Apt 423 Milwaukee, WI	2.0	1.5	1260	$2,200	$1.75	4d	1	1.41mi
1830 N Hubbard St Apt 601 Milwaukee, WI	2.0	1.0	990	$1,900	$1.92	43d	1	1.43mi
2110 N Palmer St Milwaukee, WI	2.0	1.0	1100	$1,985	$1.80	4d	1	1.44mi
2577 N Vel R Phillips Ave Milwaukee, WI	3.0	1.0	1048	$1,400	$1.34	17d	1	1.44mi
1551 N Water St Milwaukee, WI	3.0	1.0–2.0	1074	$3,395	$3.16	2d	52	1.46mi
3100 W Center St Milwaukee, WI	3.0	2.0	1174	$1,531	$1.30	1d	1	1.47mi
2955 N 17th St Unit B UPSTAIRS Milwaukee, WI	2.0	1.0	1000	$900	$0.90	17d	1	1.49mi

Listing history 26 events

1. 2026-05-16
   status Pending 613-char remark

   Show marketing remark (613 chars)

   harming and fully remodeled home with plenty of updates and space! The main floor offers 1 bedroom and 1 full bathroom, while the upper level includes 2 additional bedrooms, with one as a walk-through. A convenient commode is located in the basement. This property was thoughtfully remodeled between 2022-2023 with major updates including new roof, gutters, downspouts, central air, water heater, plumbing, electrical, furnace, kitchen, bathroom, bedrooms, flooring, and paint. Outside, you'll enjoy a large fenced yard perfect for outdoor living, plus parking for up to 3 cars. Move-in ready and well maintained!

2. 2026-04-22
   listed $139,900 Active 613-char remark

   Show marketing remark (613 chars)

   harming and fully remodeled home with plenty of updates and space! The main floor offers 1 bedroom and 1 full bathroom, while the upper level includes 2 additional bedrooms, with one as a walk-through. A convenient commode is located in the basement. This property was thoughtfully remodeled between 2022-2023 with major updates including new roof, gutters, downspouts, central air, water heater, plumbing, electrical, furnace, kitchen, bathroom, bedrooms, flooring, and paint. Outside, you'll enjoy a large fenced yard perfect for outdoor living, plus parking for up to 3 cars. Move-in ready and well maintained!

3. 2025-10-07
   historical 613-char remark

   Show marketing remark (613 chars)

   harming and fully remodeled home with plenty of updates and space! The main floor offers 1 bedroom and 1 full bathroom, while the upper level includes 2 additional bedrooms, with one as a walk-through. A convenient commode is located in the basement. This property was thoughtfully remodeled between 2022-2023 with major updates including new roof, gutters, downspouts, central air, water heater, plumbing, electrical, furnace, kitchen, bathroom, bedrooms, flooring, and paint. Outside, you'll enjoy a large fenced yard perfect for outdoor living, plus parking for up to 3 cars. Move-in ready and well maintained!

4. 2025-08-20
   listed $139,900 Active 613-char remark

   Show marketing remark (613 chars)

   harming and fully remodeled home with plenty of updates and space! The main floor offers 1 bedroom and 1 full bathroom, while the upper level includes 2 additional bedrooms, with one as a walk-through. A convenient commode is located in the basement. This property was thoughtfully remodeled between 2022-2023 with major updates including new roof, gutters, downspouts, central air, water heater, plumbing, electrical, furnace, kitchen, bathroom, bedrooms, flooring, and paint. Outside, you'll enjoy a large fenced yard perfect for outdoor living, plus parking for up to 3 cars. Move-in ready and well maintained!

5. 2023-09-20
   soldstatus $110,000 Sold
6. 2023-09-20
   soldstatus $110,000
7. 2023-08-22
   status Pending
8. 2023-08-01
   price $120,000
9. 2023-07-28
   status Active
10. 2023-07-25
    status Pending
11. 2023-07-20
    listed $125,000 Active
12. 2022-06-10
    soldstatus $33,000 Sold
13. 2022-05-16
    status Pending
14. 2022-05-10
    status Active
15. 2022-04-13
    status Pending
16. 2022-04-06
    listed $49,900 Active
17. 2022-02-12
    historical
18. 2022-02-08
    price $44,000
19. 2022-02-01
    price $47,500
20. 2022-01-29
    price $48,000
21. 2022-01-15
    price $49,400
22. 2022-01-05
    price $61,900
23. 2021-12-26
    listed $65,000 Active
24. 2014-02-06
    historical
25. 2014-02-06
    listed $17,500
26. 2007-02-15
    soldstatus $59,000

ⓘ 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: $1,481 · $123/mo
• Projected year-2 tax: $2,035 · $170/mo
• Expected delta: +$554/yr (+$46/mo · 37.4%)

ⓘ 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 ≥98°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,513
• − Mortgage interest: −$7,837
• − Property taxes: −$1,481
• − Insurance: −$700
• − Repairs & maintenance: −$1,481
• − Management: −$1,481
• − Depreciation: −$4,070
• Taxable income: $1,464
• Est. tax owed @ 24.0%: −$351
• After-tax cash flow: $3,289/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): 9,265
• Household income: $31,529
• Rent vs Own: 72.6% rent · 27.4% own
• Severe rent burden: 636.0

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 (80%)
• Race & ethnicity: Black 80% Asian 7% White 6% Hispanic / Latino 6% Two or more races 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 1% Lithuanian 1% Swedish 1%
• Foreign-born: 6% · Canada
• Languages at home: 88% English-only · Other Asian/Pacific 5% Spanish 5%

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: ▲ 3.02%
• Current HPI: 363.0038
• Rent YoY: —
• 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

+137.1% since first listed

26 events — show timeline

• 2026-05-16 Pending — METROMLS
• 2026-04-22 Listed $139,900 METROMLS
• 2025-10-07 Listing Removed — METROMLS
• 2025-08-20 Listed $139,900 METROMLS
• 2023-09-20 Sold (Public Records) $110,000 Public Records
• 2023-09-20 Sold (MLS) $110,000 METROMLS
• 2023-08-22 Pending — METROMLS
• 2023-08-01 Price Changed $120,000 METROMLS
• 2023-07-28 Relisted — METROMLS
• 2023-07-25 Pending — METROMLS
• 2023-07-20 Listed $125,000 METROMLS
• 2022-06-10 Sold (MLS) $33,000 METROMLS
• 2022-05-16 Pending — METROMLS
• 2022-05-10 Relisted — METROMLS
• 2022-04-13 Pending — METROMLS
• 2022-04-06 Listed $49,900 METROMLS
• 2022-02-12 Listing Removed — METROMLS
• 2022-02-08 Price Changed $44,000 METROMLS
• 2022-02-01 Price Changed $47,500 METROMLS
• 2022-01-29 Price Changed $48,000 METROMLS
• 2022-01-15 Price Changed $49,400 METROMLS
• 2022-01-05 Price Changed $61,900 METROMLS
• 2021-12-26 Listed $65,000 METROMLS
• 2014-02-06 Listed $17,500 METROMLS
• 2014-02-06 Listing Removed — METROMLS
• 2007-02-15 Sold (Public Records) $59,000 Public Records

Property tax history

-3.8%/yr

Latest (2024): $1,481 · +172.8% YoY. Source: county tax records.