2910 N 9th St · Milwaukee, WI 53206

$5,625

3 bd · 1.5 ba · 1,643 sqft · MultiFamily public records · 108 Days on market

Built 1900 1,306 sqft lot $3/sqft · 94% below area

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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 +15.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.6/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Great price for the right buyer! Small single family home needing rehab in district 6. Open to all offers. $91,100 in essential repairs. Performance deposit required - buyer must complete essential repairs within 180 days and have City provide proof of completion for performance deposit return. Bring flashlights & use caution when entering. Note: City of Milwaukee Tax Foreclosure Property. Listing info not verified. This property is being sold in AS-IS condition

Key facts

• 1,306 sq ft lot
• Built 1900
• Listed 107 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath multifamily listed at $6k.

Deal economics

• At list price, monthly cash flow is $967 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $6k).
• Recommended offer: $5k (9.0% below list) — sets the bar for market timing.
• Cap rate 212.6% 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 (+8.3%/yr); 160 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $1,274/mo this rent would consume 52% of the median local household income ($29k/yr) (locally 2061% 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 $602 of equity ($39 loan paydown + $563 appreciation (10.0% local appreciation)).
• Milwaukee County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 8.0% rent growth), your $2k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($5k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $5,118 (9.0% below list)

Questions for the listing agent

1. It's been on market 108 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 22.64% ✓
• Cap rate: 212.64%
• Cash-on-cash: 736.96%
• DSCR: 33.79
• GRM: 0.4

CMA / ARV

• ARV (median comp): $53,976
• List price: $5,625
• Delta: -89.58%
• 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
3043 N Dr William Finlayson St #3045	0.32mi	4/2.0 (+1)	1,633 (-1%)	3mo	$125,000	$77	75
3065 N 10th St	0.22mi	4/2.0 (+1)	1,753 (+7%)	2mo	$60,000	$34	70
3047 N 12th St	0.29mi	4/2.0 (+1)	1,774 (+8%)	6mo	$28,000	$16	61
2848 N 19th St	0.72mi	4/2.0 (+1)	1,650 (+0%)	3mo	$60,000	$36	56
2635 N 6th St	0.38mi	3/2.0	1,418 (-14%)	7mo	$360,000	$254	52
3037 N 1st St	0.58mi	4/2.0 (+1)	1,526 (-7%)	3mo	$120,000	$79	51
3351 N 6th St Unit 3351A	0.61mi	4/2.0 (+1)	1,538 (-6%)	4mo	$93,000	$60	50
3518 N 9th St	0.73mi	4/2.0 (+1)	1,654 (+1%)	9mo	$116,000	$70	50
215 E Chambers St	0.68mi	4/2.0 (+1)	1,733 (+6%)	4mo	$110,000	$63	49
2724 N Palmer St Unit 2724A	0.70mi	4/2.0 (+1)	1,746 (+6%)	4mo	$104,900	$60	46
2507 N 6th St Unit 2507A	0.54mi	4/2.0 (+1)	1,862 (+13%)	7mo	$165,000	$89	40
1322 W Concordia Ave	0.60mi	4/2.0 (+1)	1,855 (+13%)	8mo	$38,000	$20	37

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

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 46.34×
• Total profit: $71,418
• Equity at exit: $5,067

10-year hold

• IRR: —
• Equity multiple: 114.39×
• Total profit: $178,582
• Equity at exit: $10,928

Cash invested: $1,575 (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 53206

• Rents YoY: 8.3%
• Active inventory: 160
• Price-to-rent: 0.4×

Monthly cashflow live

• Estimated rent: $1,274 high
• Mortgage (P&I): −$29
• Tax est. 1.5%: −$7 /mo · $84/yr
• Insurance: −$2
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $967

Break-even live

Break-even rent $49

Max offer price $5,625

Occupancy floor 19%

Sensitivity live

Price	-10% $971	-5% $969	+0% $967	+5% $965	+10% $963
Rent	-10% $867	-5% $917	+0% $967	+5% $1,018	+10% $1,068
Rate	-1.0pp $970	-0.5pp $969	base $967	+0.5pp $966	+1.0pp $964

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: $1,406
• Closing costs: $169
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
912 W Hadley St Milwaukee, WI	2.0	1.0	2222	$1,250	$0.56	16d	1	0.17mi
3025 N 6th St Milwaukee, WI	2.0	1.0	1153	$1,125	$0.98	45d	1	0.21mi
3045 N 11th St #3047 Milwaukee, WI	3.0	1.0	1065	$1,175	$1.10	6d	1	0.23mi
2719 N 1st St Milwaukee, WI	2.0	1.0	1300	$1,095	$0.84	16d	1	0.60mi
3042 N Palmer St #5 Milwaukee, WI	3.0	1.0	1718	$1,050	$0.61	25d	1	0.66mi
2808 N Palmer St Unit Lower Milwaukee, WI	2.0	1.0	1200	$875	$0.73	45d	1	0.67mi
223 E Burleigh St Unit 223 Milwaukee, WI	4.0	1.0	1153	$1,395	$1.21	45d	1	0.70mi
3416 N 17th St Unit 1 Milwaukee, WI	3.0	1.0	1200	$1,100	$0.92	45d	1	0.78mi
2716A N Buffum St Milwaukee, WI	2.0	1.0	1100	$1,200	$1.09	22d	1	0.84mi
3255 N Buffum St Unit 3255 Upper Milwaukee, WI	2.0	1.0	1100	$1,350	$1.23	45d	1	0.88mi
2536 N Richards St Unit 1ST Milwaukee, WI	2.0	1.0	1200	$950	$0.79	45d	1	0.89mi
2507 N Buffum St Milwaukee, WI	3.0	1.0	1300	$1,375	$1.06	21d	1	0.94mi
312 E Townsend St Unit 312 Milwaukee, WI	3.0	1.0	1400	$1,250	$0.89	25d	1	0.96mi
605 E Auer Ave Milwaukee, WI	2.0	1.0	1200	$1,200	$1.00	12d	1	0.97mi
400 E Meinecke Ave #402 Milwaukee, WI	3.0	1.0	1700	$1,800	$1.06	17d	1	1.04mi
3747 N 16th St Milwaukee, WI	2.0	1.0	1200	$875	$0.73	45d	1	1.06mi
2308 W Clarke St Milwaukee, WI	4.0	2.0	1545	$1,750	$1.13	25d	1	1.07mi
2106A W Keefe Ave Unit 2106 Lower Milwaukee, WI	3.0	1.0	1300	$1,100	$0.85	18d	1	1.12mi
2772 N Bremen St #2774 Milwaukee, WI	3.0	1.0	1500	$1,795	$1.20	45d	1	1.13mi
2110 N Palmer St Milwaukee, WI	2.0	1.0	1100	$1,985	$1.80	5d	1	1.15mi
3908 N 6th St Milwaukee, WI	2.0	1.0	1100	$1,150	$1.05	25d	1	1.16mi
329 E Garfield Ave Milwaukee, WI	2.0	1.5	1100	$1,350	$1.23	6d	1	1.17mi
2761 N Humboldt Blvd Unit First Floor Milwaukee, WI	3.0	1.0	1236	$1,600	$1.29	18d	1	1.22mi
2765 N 26th St Unit 1 Milwaukee, WI	3.0	1.0	1125	$1,200	$1.07	6d	1	1.25mi
2765 N 26th St Unit 2 Milwaukee, WI	2.0	1.0	1100	$1,100	$1.00	6d	1	1.25mi
2442 N Bremen St Milwaukee, WI	2.0	1.0	1100	$1,495	$1.36	45d	1	1.27mi
4048 N 7th St Milwaukee, WI	2.0	1.0	1100	$1,150	$1.05	25d	1	1.29mi
2429 N Weil St Milwaukee, WI	3.0	1.0	1300	$1,500	$1.15	45d	1	1.31mi
2012 N Buffum St Milwaukee, WI	3.0	2.5	2200	$2,695	$1.23	45d	1	1.31mi
2518 N Humboldt Blvd Unit 2518 Lower Milwaukee, WI	2.0	1.0	1246	$1,275	$1.02	18d	1	1.35mi
2870 N 29th St #2872 Milwaukee, WI	3.0	1.0	1300	$1,250	$0.96	45d	1	1.39mi
3388 N 27th St Unit 3388 Front House Milwaukee, WI	4.0	1.0	1212	$1,550	$1.28	6d	1	1.41mi
2119 W Brown St Milwaukee, WI	3.0	1.0	1754	$995	$0.57	4d	1	1.42mi
2809 W Clarke St Unit 12811 Milwaukee, WI	3.0	1.0	1400	$1,200	$0.86	18d	1	1.43mi
2821 W Concordia Ave Milwaukee, WI	3.0	1.5	1098	$1,595	$1.45	3d	1	1.46mi
2931 W Chambers St Milwaukee, WI	2.0	1.0	1400	$1,050	$0.75	25d	1	1.46mi
1858 N Commerce St Milwaukee, WI	2.0	1.0–2.0	1124	$1,520	$1.35	16d	2	1.48mi

Listing history 17 events

1. 2026-06-21
   days on market $5,625 Active 108 DOM
2. 2026-06-18
   days on market $5,625 Active 105 DOM
3. 2026-06-17
   days on market $5,625 Active 104 DOM
4. 2026-06-16
   days on market $5,625 Active 103 DOM
5. 2026-06-15
   days on market $5,625 Active 102 DOM
6. 2026-06-13
   days on market $5,625 Active 100 DOM
7. 2026-06-13
   days on market $5,625 Active 99 DOM
8. 2026-06-09
   days on market $5,625 Active 96 DOM
9. 2026-06-08
   days on market $5,625 Active 95 DOM
10. 2026-06-07
    days on market $5,625 Active 94 DOM
11. 2026-06-05
    days on market $5,625 Active 91 DOM
12. 2026-06-03
    days on market $5,625 Active 90 DOM
13. 2026-06-02
    remarks 695-char remark
14. 2026-06-02
    pricedays on market $5,625 Active 89 DOM
15. 2026-06-01
    days on market $7,500 Active 88 DOM
16. 2026-05-31
    days on market $7,500 Active 87 DOM
17. 2026-03-04
    listed $7,500 Active 473-char remark

    Show marketing remark (473 chars)

    Great price for the right buyer! Small single family home needing rehab in district 6. Open to all offers. $91,100 in essential repairs. Performance deposit required - buyer must complete essential repairs within 180 days and have City provide proof of completion for performance deposit return. Bring flashlights & use caution when entering. Note: City of Milwaukee Tax Foreclosure Property. Listing info not verified. This property is being sold in AS-IS condition

ⓘ 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,283
• − Mortgage interest: −$315
• − Property taxes: −$84
• − Insurance: −$28
• − Repairs & maintenance: −$1,223
• − Management: −$1,223
• − Depreciation: −$164
• Taxable income: $12,246
• Est. tax owed @ 24.0%: −$2,939
• After-tax cash flow: $8,668/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): 19,887
• Household income: $29,336
• Rent vs Own: 67.8% rent · 32.2% own
• Severe rent burden: 2061.0

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 (91%)
• Race & ethnicity: Black 91% Two or more races 3% White 3% Hispanic / Latino 3%
• Common ancestry: Norwegian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 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: ▲ 133.03%
• Current HPI: 397.7151
• Rent YoY: ▲ 8.28%
• 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

1 event — show timeline

• 2026-03-04 Listed $7,500 METROMLS

Property tax history

+9.0%/yr

Latest (2024): $993 · +68.6% YoY. Source: county tax records.