2466 N 33rd St · Milwaukee, WI 53210

$30,712

3 bd · 2.0 ba · 1,586 sqft · MultiFamily public records · 107 Days on market

Built 1908 3,484 sqft lot $19/sqft · 56% below area

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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
• Livability +4.0/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• 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

This is a City Of Milwaukee Tax Foreclosure. Discover the opportunity to own this 2/1 Duplex. With a little TLC, this house can be made a home! Buyers must show proof of funds or financing to cover purchase price & essential repairs. Essential Repairs:$77,550 (Total Scope Of Work:$117,520)

Key facts

• 3,484 sq ft lot
• Parking
• Built 1908

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $31k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $703/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $31k).
• Recommended offer: $28k (9.0% below list) — sets the bar for market timing.
• Cap rate 61.3% 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; 40 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).
• At $2,094/mo this rent would consume 52% 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 $212 of loan paydown is wiped out by about $921 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 $9k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 107 days — a 9% lower offer ($28k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $14k; list at $31k implies a 121% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1908 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $27,947 (9.0% below list)

Questions for the listing agent

1. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1908 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 6.82% ✓
• Cap rate: 61.26%
• Cash-on-cash: 196.30%
• DSCR: 9.73
• GRM: 1.2

CMA / ARV

• ARV (median comp): $69,602
• List price: $30,712
• Delta: -55.87%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2616 N 37th St	0.29mi	3/2.0	1,555 (-2%)	24mo	$68,000	$44	63
2828 W Meinecke Ave Unit 2828A	0.28mi	4/2.0 (+1)	1,636 (+3%)	23mo	$4,900	$3	57
2631 N 35th St Unit 2631A	0.24mi	4/2.0 (+1)	1,738 (+10%)	14mo	$80,000	$46	56
2631 N 35th St Unit 2631A	0.24mi	4/2.0 (+1)	1,738 (+10%)	17mo	$55,000	$32	54
2972 N 28th St	0.72mi	4/2.0 (+1)	1,757 (+11%)	0mo	$141,806	$81	43
2741 N 25th St	0.60mi	4/2.0 (+1)	1,713 (+8%)	15mo	$75,000	$44	41
2868 N 26th St Unit 2868A	0.69mi	4/2.0 (+1)	1,650 (+4%)	22mo	$110,000	$67	38

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: —
• Equity multiple: 11.05×
• Total profit: $86,412
• Equity at exit: $4,579

10-year hold

• IRR: —
• Equity multiple: 24.04×
• Total profit: $198,096
• Equity at exit: $2,655

Cash invested: $8,599 (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: 2.4×

Monthly cashflow live

• Estimated rent: $2,094 high
• Mortgage (P&I): −$161
• Tax from tax record: −$74 /mo · $884/yr
• Insurance: −$13
• HOA: −$0
• Vacancy / Maint / Mgmt: −$440
• Net cashflow: $1,407

Break-even live

Break-even rent $313

Max offer price $30,712

Occupancy floor 28%

Sensitivity live

Price	-10% $1,424	-5% $1,415	+0% $1,407	+5% $1,398	+10% $1,389
Rent	-10% $1,241	-5% $1,324	+0% $1,407	+5% $1,489	+10% $1,572
Rate	-1.0pp $1,422	-0.5pp $1,415	base $1,407	+0.5pp $1,399	+1.0pp $1,391

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,094
Total (2 units)			$2,094

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: $7,678
• Closing costs: $921
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3100 W Center St Milwaukee, WI	2.0–3.0	1.0–2.0	1074	$1,531	$1.42	0d	4	0.29mi
2201 N 32nd St Unit 2201 Milwaukee, WI	3.0	1.0	1100	$1,195	$1.09	18d	1	0.32mi
2809 W Clarke St Unit 12811 Milwaukee, WI	3.0	1.0	1400	$1,200	$0.86	19d	1	0.33mi
3127 W Garfield Ave Milwaukee, WI	2.0	1.0	1195	$1,195	$1.00	0d	1	0.35mi
2403-2405 N 39th St Unit 2403 Lower Milwaukee, WI	3.0	1.0	1200	$995	$0.83	12d	1	0.39mi
2403-2405 N 39th St Unit 2405 Upper Milwaukee, WI	3.0	1.0	1141	$995	$0.87	12d	1	0.40mi
2251 N 41st St Unit Lower Milwaukee, WI	3.0	1.0	1187	$1,198	$1.01	16d	1	0.56mi
2765 N 26th St Unit 2 Milwaukee, WI	2.0	1.0	1100	$1,100	$1.00	6d	1	0.57mi
2765 N 26th St Unit 1 Milwaukee, WI	3.0	1.0	1125	$1,200	$1.07	6d	1	0.57mi
2870 N 29th St #2872 Milwaukee, WI	3.0	1.0	1300	$1,250	$0.96	46d	1	0.57mi
2001 N 38th St #2003 Milwaukee, WI	3.0	1.0	1326	$950	$0.72	4d	1	0.61mi
2931 W Chambers St Milwaukee, WI	2.0	1.0	1400	$1,050	$0.75	25d	1	0.67mi
2308 W Clarke St Milwaukee, WI	4.0	2.0	1545	$1,750	$1.13	25d	1	0.69mi
2502 N 45th St Milwaukee, WI	2.0	1.0	1949	$1,050	$0.54	18d	1	0.75mi
2713 N 44th St Milwaukee, WI	3.0	1.0	1450	$1,350	$0.93	46d	1	0.77mi
1639 N 33rd St Milwaukee, WI	3.0	1.0	1424	$950	$0.67	25d	1	0.80mi
3124 N 33rd St Milwaukee, WI	2.0	1.0	1200	$1,200	$1.00	46d	1	0.82mi
2632 N 47th St Unit 1 Milwaukee, WI	2.0	1.0	1300	$1,100	$0.85	0d	1	0.89mi
3148 N 39th St Milwaukee, WI	2.0	1.0	1100	$1,100	$1.00	46d	1	0.92mi
1515 N 32nd St Unit 1515 Milwaukee, WI	3.0	1.0	1200	$1,245	$1.04	6d	1	0.93mi
2119 W Brown St Milwaukee, WI	3.0	1.0	1754	$995	$0.57	5d	1	0.95mi
3122 N 42nd St Milwaukee, WI	3.0	1.0	1323	$1,495	$1.13	6d	1	0.97mi
2613 N 48th St Unit 2 Milwaukee, WI	2.0	1.0	1150	$1,250	$1.09	25d	1	0.98mi
3123 N 42nd St Milwaukee, WI	4.0	1.0	1500	$1,700	$1.13	25d	1	0.98mi
2842 N 47th St Milwaukee, WI	2.0	1.0	1500	$1,100	$0.73	46d	1	0.98mi
2161 N 48th St Milwaukee, WI	4.0	1.5	2000	$1,698	$0.85	0d	1	1.03mi
2409 N 49th St Milwaukee, WI	3.0	1.0	1335	$1,248	$0.93	46d	1	1.03mi
2629 N 49th St Milwaukee, WI	3.0	1.0	1200	$1,350	$1.12	46d	1	1.05mi
2821 W Concordia Ave Milwaukee, WI	3.0	1.5	1098	$1,595	$1.45	4d	1	1.08mi
2629 N 50th St Unit Upper Milwaukee, WI	3.0	1.0	1258	$1,375	$1.09	5d	1	1.11mi
2841 N 49th St Milwaukee, WI	2.0	1.0	1237	$1,098	$0.89	46d	1	1.13mi
2438 N 51st St Unit 2 Milwaukee, WI	3.0	1.0	1300	$1,650	$1.27	25d	1	1.13mi
2976 N 49th St Milwaukee, WI	3.0	1.0	1700	$1,300	$0.76	19d	1	1.18mi
3066 N 49th St Unit 3066-5 Milwaukee, WI	2.0	1.0	1100	$950	$0.86	46d	1	1.25mi
3388 N 27th St Unit 3388 Front House Milwaukee, WI	4.0	1.0	1212	$1,550	$1.28	6d	1	1.25mi
1239 N 26th St Unit 1 Milwaukee, WI	3.0	1.0	1300	$1,400	$1.08	46d	1	1.26mi
1239 N 26th St Unit 1 Milwaukee, WI	3.0	1.0	1300	$1,400	$1.08	46d	1	1.26mi
2419 W McKinley Ave Milwaukee, WI	2.0	1.0	1852	$1,200	$0.65	46d	1	1.31mi
2478-2480 W Juneau Ave Unit 2478 Milwaukee, WI	4.0	1.0	1375	$1,495	$1.09	25d	1	1.33mi
3606 N 41st St Unit 3608 Milwaukee, WI	2.0	1.0	1095	$975	$0.89	46d	1	1.42mi

Listing history 21 events

1. 2026-06-21
   days on market $30,712 Active 107 DOM
2. 2026-06-18
   days on market $30,712 Active 104 DOM
3. 2026-06-17
   days on market $30,712 Active 103 DOM
4. 2026-06-16
   days on market $30,712 Active 102 DOM
5. 2026-06-15
   days on market $30,712 Active 101 DOM
6. 2026-06-13
   days on market $30,712 Active 99 DOM
7. 2026-06-13
   days on market $30,712 Active 98 DOM
8. 2026-06-09
   days on market $30,712 Active 95 DOM
9. 2026-06-08
   days on market $30,712 Active 94 DOM
10. 2026-06-07
    days on market $30,712 Active 93 DOM
11. 2026-06-05
    days on market $30,712 Active 90 DOM
12. 2026-06-03
    days on market $30,712 Active 89 DOM
13. 2026-06-02
    days on market $30,712 Active 88 DOM
14. 2026-06-01
    days on market $30,712 Active 87 DOM
15. 2026-05-31
    days on market $30,712 Active 86 DOM
16. 2026-05-11
    price $30,712 296-char remark

    Show marketing remark (296 chars)

    This is a City Of Milwaukee Tax Foreclosure. Discover the opportunity to own this 2/1 Duplex. With a little TLC, this house can be made a home! Buyers must show proof of funds or financing to cover purchase price & essential repairs. Essential Repairs:$77,550 (Total Scope Of Work:$117,520)

17. 2026-03-06
    listed $40,950 Active 296-char remark

    Show marketing remark (296 chars)

    This is a City Of Milwaukee Tax Foreclosure. Discover the opportunity to own this 2/1 Duplex. With a little TLC, this house can be made a home! Buyers must show proof of funds or financing to cover purchase price & essential repairs. Essential Repairs:$77,550 (Total Scope Of Work:$117,520)

18. 2026-02-17
    status Pending 238-char remark

    Show marketing remark (238 chars)

    This is a tax foreclosed property. For the first 30-days of the listing period, no offers below the listing price will be considered per Wisconsin Foreclosure Law. Owner Occupants will be prioritized. BIDS DUE FEBRUARY 16, 2026 AT 10:00am

19. 2026-02-17
    historical 238-char remark

    Show marketing remark (238 chars)

    This is a tax foreclosed property. For the first 30-days of the listing period, no offers below the listing price will be considered per Wisconsin Foreclosure Law. Owner Occupants will be prioritized. BIDS DUE FEBRUARY 16, 2026 AT 10:00am

20. 2026-01-12
    listed $54,600 Active 238-char remark

    Show marketing remark (238 chars)

    This is a tax foreclosed property. For the first 30-days of the listing period, no offers below the listing price will be considered per Wisconsin Foreclosure Law. Owner Occupants will be prioritized. BIDS DUE FEBRUARY 16, 2026 AT 10:00am

21. 1971-09-01
    soldstatus $13,900

ⓘ 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: $884 · $74/mo
• Projected year-2 tax: $884 · $74/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,128
• − Mortgage interest: −$1,720
• − Property taxes: −$884
• − Insurance: −$154
• − Repairs & maintenance: −$2,010
• − Management: −$2,010
• − Depreciation: −$893
• Taxable income: $17,456
• Est. tax owed @ 24.0%: −$4,189
• After-tax cash flow: $12,691/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): 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

+120.9% since first listed

6 events — show timeline

• 2026-05-11 Price Changed $30,712 METROMLS
• 2026-03-06 Listed $40,950 METROMLS
• 2026-02-17 Pending — METROMLS
• 2026-02-17 Listing Removed — METROMLS
• 2026-01-12 Listed $54,600 METROMLS
• 1971-09-01 Sold (Public Records) $13,900 Public Records

Property tax history

+3.1%/yr

Latest (2024): $884 · -37.0% YoY. Source: county tax records.