2531 N Buffum St · Milwaukee, WI 53212

$135,000

3 bd · 1.0 ba · 934 sqft · SingleFamily public records · 48 Days on market

Built 1875 6,098 sqft lot $145/sqft · 14% below area Est $157k · 14% under

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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 +24.5/30.0
• ARV discount +13.9/15.0
• DSCR +7.9/10.0
• 1% rule +5.6/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 2531 N Buffum St--offering the perfect blend of classic character and modern convenience. This property is ideal for owner-occupants and investors alike (previously rented at $1600 per month). Located just north of Brewer's Hill and one block west of Riverwest, the property offers close proximity to downtown. The home features updated kitchen and bathroom with first-floor laundry room, a three-car garage with an additional parking space, and a double wide lot. Additionally, the basement provides the potential to add significantly more living space. Do not miss this chance to own a property in this up-and-coming neighborhood.

Key facts

• Three-car garage
• Double wide lot
• Updated kitchen

Tags

• UPDATED KITCHEN
• UPDATED BATHROOM
• FIRST-FLOOR LAUNDRY ROOM
• THREE-CAR GARAGE
• DOUBLE WIDE LOT
• POTENTIAL TO ADD LIVING SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $276 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Recommended offer: $131k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.7% 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); 131 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• This rent runs 36% of the median local income ($47k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 + 5.0% rent growth), your $38k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y ago; this cycle's ask has dropped $25k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $35k; list at $135k implies a 286% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1875 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $130,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1875 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.06% ✓
• Cap rate: 8.75%
• Cash-on-cash: 8.77%
• DSCR: 1.39
• GRM: 7.9

CMA / ARV

• ARV (median comp): $157,494
• List price: $135,000
• Delta: -14.28%
• 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
2531 N Buffum St	0.00mi	2/1.0 (-1)	934 (0%)	0mo	$123,750	$132	95
2606 N Holton St	0.13mi	3/1.5	1,025 (+10%)	1mo	$175,000	$171	75
2457 N Holton St	0.11mi	2/1.0 (-1)	881 (-6%)	9mo	$86,900	$99	73
2428 N Pierce St	0.25mi	2/1.0 (-1)	920 (-2%)	9mo	$180,000	$196	73
2836 N Richards St	0.39mi	2/1.0 (-1)	871 (-7%)	2mo	$116,000	$133	64
2941 N Dr William Finlayson St	0.74mi	3/1.0	971 (+4%)	1mo	$142,000	$146	58
2820 N Palmer St	0.38mi	3/2.0	1,045 (+12%)	4mo	$138,000	$132	55
2977 N Richards St	0.57mi	3/2.0	993 (+6%)	7mo	$199,900	$201	53
2217 N Buffum St	0.35mi	3/1.0	1,033 (+11%)	22mo	$234,000	$227	48
112 W Hadley St	0.42mi	2/1.0 (-1)	800 (-14%)	10mo	$210,000	$263	43
1008 E North Ave	0.50mi	3/2.0	1,054 (+13%)	20mo	$220,000	$209	35
408 W Wright St	0.47mi	2/1.0 (-1)	809 (-13%)	21mo	$23,500	$29	33

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 · 5.0% rent growth · sell at horizon

5-year hold

• IRR: -0.9%
• Equity multiple: 0.96×
• Total profit: $-1,379
• Equity at exit: $20,129

10-year hold

• IRR: 10.6%
• Equity multiple: 1.90×
• Total profit: $33,869
• Equity at exit: $11,672

Cash invested: $37,800 (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 53212

• Rents YoY: 5.0%
• Active inventory: 131
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,428 high
• Mortgage (P&I): −$708
• Tax from tax record: −$88 /mo · $1,052/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $276

Break-even live

Break-even rent $1,078

Max offer price $135,000

Occupancy floor 76%

Sensitivity live

Price	-10% $353	-5% $314	+0% $276	+5% $238	+10% $200
Rent	-10% $163	-5% $220	+0% $276	+5% $333	+10% $389
Rate	-1.0pp $344	-0.5pp $311	base $276	+0.5pp $241	+1.0pp $206

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
524 E Wright St Milwaukee, WI	3.0	1.0	900	$1,275	$1.42	16d	1	0.14mi
2716A N Buffum St Milwaukee, WI	2.0	1.0	1100	$1,200	$1.09	22d	1	0.21mi
2724 N Palmer St Milwaukee, WI	3.0	1.0	900	$1,300	$1.44	45d	1	0.24mi
2442 N Bremen St Milwaukee, WI	2.0	1.0	1100	$1,495	$1.36	45d	1	0.37mi
919 E Clarke St Unit 4 Milwaukee, WI	2.0	1.0	1000	$1,295	$1.29	45d	1	0.37mi
329 E Garfield Ave Milwaukee, WI	2.0	1.5	1100	$1,350	$1.23	5d	1	0.42mi
2636 N Weil St Milwaukee, WI	2.0	1.0	900	$1,100	$1.22	3d	1	0.43mi
2772 N Bremen St Milwaukee, WI	2.0	1.0	900	$1,295	$1.44	45d	1	0.45mi
2577 N Vel R Phillips Ave Milwaukee, WI	3.0	1.0	1048	$1,400	$1.34	18d	1	0.45mi
2552 N Humboldt Blvd Milwaukee, WI	3.0	1.0	1000	$1,595	$1.59	25d	1	0.48mi
2552 N Humboldt Blvd Milwaukee, WI	2.0	1.0	800	$1,250	$1.56	45d	1	0.48mi
2110 N Palmer St Milwaukee, WI	2.0	1.0	1100	$1,985	$1.80	5d	1	0.48mi
1106 E Clarke St Milwaukee, WI	2.0	1.0	950	$795	$0.84	45d	1	0.49mi
2105 N Booth St Unit 2105-5 Milwaukee, WI	2.0	1.0	1000	$1,799	$1.80	18d	1	0.51mi
118 E Lloyd St Unit Lower Milwaukee, WI	2.0	1.0	810	$1,350	$1.67	18d	1	0.52mi
1221 E Clarke St Milwaukee, WI	3.0	1.0	950	$1,400	$1.47	45d	1	0.56mi
2934 N Bremen St Milwaukee, WI	2.0	1.0	798	$1,398	$1.75	25d	1	0.59mi
3029 N Holton St Milwaukee, WI	3.0	1.0	980	$1,200	$1.22	45d	1	0.60mi
2407 N 6th St Milwaukee, WI	2.0	1.0	897	$1,100	$1.23	45d	1	0.63mi
3037 N 1st St Milwaukee, WI	2.0	1.0	763	$990	$1.30	45d	1	0.65mi
1902 N Commerce St Milwaukee, WI	2.0	1.0	974	$1,895	$1.95	45d	1	0.66mi
1845 N Water St Milwaukee, WI	3.0	1.0–2.0	948	$4,455	$4.70	4d	84	0.70mi
1830 N Hubbard St Unit 607 Milwaukee, WI	2.0	1.0	850	$1,850	$2.18	18d	1	0.72mi
1830 N Hubbard St Apt 302 Milwaukee, WI	2.0	1.0	856	$1,700	$1.99	18d	1	0.72mi
1830 N Hubbard St Apt 601 Milwaukee, WI	2.0	1.0	990	$1,900	$1.92	45d	1	0.72mi
1858 N Commerce St Milwaukee, WI	2.0	1.0–2.0	1124	$1,520	$1.35	16d	2	0.75mi
3156 N 1st St Milwaukee, WI	2.0	1.0	900	$895	$0.99	45d	1	0.79mi
3228 N Achilles St Unit 3228A Milwaukee, WI	2.0	1.0	713	$895	$1.26	45d	1	0.84mi
3255 N Buffum St Unit 3255 Upper Milwaukee, WI	2.0	1.0	1100	$1,350	$1.23	45d	1	0.89mi
1628 E Belleview Pl Milwaukee, WI	2.0	1.0	750	$1,250	$1.67	13d	1	0.89mi
2627 N Bartlett Ave Milwaukee, WI	3.0	1.0	1100	$1,500	$1.36	13d	1	0.90mi
2634 N Bartlett Ave Milwaukee, WI	2.0	1.0	832	$1,690	$2.03	25d	1	0.92mi
2752 N Bartlett Ave Apt 1 Milwaukee, WI	2.0	1.0	1100	$1,745	$1.59	45d	1	0.94mi
1633 E North Ave Milwaukee, WI	2.0	1.0	1110	$1,900	$1.71	3d	3	0.95mi
1506 E Kane Pl Milwaukee, WI	2.0	1.0	950	$1,400	$1.47	5d	1	0.98mi
1669 N Humboldt Ave Milwaukee, WI	2.0	1.0	950	$1,745	$1.84	5d	1	0.98mi
1234-1238 E Brady St Milwaukee, WI	2.0	1.0	750	$1,240	$1.65	17d	2	1.00mi
3352 N Richards St Unit Second floor Milwaukee, WI	2.0	1.0	1000	$1,150	$1.15	45d	1	1.00mi
1551 N Water St Milwaukee, WI	3.0	1.0–2.0	1074	$3,395	$3.16	3d	52	1.00mi
1530 N Jackson St Unit 401 Milwaukee, WI	2.0	2.0	1125	$2,225	$1.98	45d	1	1.04mi

Listing history 13 events

1. 2026-05-14
   status Pending 643-char remark

   Show marketing remark (643 chars)

   Welcome to 2531 N Buffum St--offering the perfect blend of classic character and modern convenience. This property is ideal for owner-occupants and investors alike (previously rented at $1600 per month). Located just north of Brewer's Hill and one block west of Riverwest, the property offers close proximity to downtown. The home features updated kitchen and bathroom with first-floor laundry room, a three-car garage with an additional parking space, and a double wide lot. Additionally, the basement provides the potential to add significantly more living space. Do not miss this chance to own a property in this up-and-coming neighborhood.

2. 2026-05-04
   price $135,000 643-char remark

   Show marketing remark (643 chars)

   Welcome to 2531 N Buffum St--offering the perfect blend of classic character and modern convenience. This property is ideal for owner-occupants and investors alike (previously rented at $1600 per month). Located just north of Brewer's Hill and one block west of Riverwest, the property offers close proximity to downtown. The home features updated kitchen and bathroom with first-floor laundry room, a three-car garage with an additional parking space, and a double wide lot. Additionally, the basement provides the potential to add significantly more living space. Do not miss this chance to own a property in this up-and-coming neighborhood.

3. 2026-04-30
   price $140,000 643-char remark

   Show marketing remark (643 chars)

   Welcome to 2531 N Buffum St--offering the perfect blend of classic character and modern convenience. This property is ideal for owner-occupants and investors alike (previously rented at $1600 per month). Located just north of Brewer's Hill and one block west of Riverwest, the property offers close proximity to downtown. The home features updated kitchen and bathroom with first-floor laundry room, a three-car garage with an additional parking space, and a double wide lot. Additionally, the basement provides the potential to add significantly more living space. Do not miss this chance to own a property in this up-and-coming neighborhood.

4. 2026-04-15
   price $145,000 643-char remark

   Show marketing remark (643 chars)

   Welcome to 2531 N Buffum St--offering the perfect blend of classic character and modern convenience. This property is ideal for owner-occupants and investors alike (previously rented at $1600 per month). Located just north of Brewer's Hill and one block west of Riverwest, the property offers close proximity to downtown. The home features updated kitchen and bathroom with first-floor laundry room, a three-car garage with an additional parking space, and a double wide lot. Additionally, the basement provides the potential to add significantly more living space. Do not miss this chance to own a property in this up-and-coming neighborhood.

5. 2026-04-08
   price $149,900 643-char remark

   Show marketing remark (643 chars)

   Welcome to 2531 N Buffum St--offering the perfect blend of classic character and modern convenience. This property is ideal for owner-occupants and investors alike (previously rented at $1600 per month). Located just north of Brewer's Hill and one block west of Riverwest, the property offers close proximity to downtown. The home features updated kitchen and bathroom with first-floor laundry room, a three-car garage with an additional parking space, and a double wide lot. Additionally, the basement provides the potential to add significantly more living space. Do not miss this chance to own a property in this up-and-coming neighborhood.

6. 2026-03-27
   listed $160,000 Active 643-char remark

   Show marketing remark (643 chars)

   Welcome to 2531 N Buffum St--offering the perfect blend of classic character and modern convenience. This property is ideal for owner-occupants and investors alike (previously rented at $1600 per month). Located just north of Brewer's Hill and one block west of Riverwest, the property offers close proximity to downtown. The home features updated kitchen and bathroom with first-floor laundry room, a three-car garage with an additional parking space, and a double wide lot. Additionally, the basement provides the potential to add significantly more living space. Do not miss this chance to own a property in this up-and-coming neighborhood.

7. 2025-03-01
   historical $1,550
8. 2025-02-12
   listed $1,550
9. 2024-03-28
   historical $1,295
10. 2024-03-13
    listed $1,295
11. 2020-01-29
    soldstatus $35,000 Sold 446-char remark

    Show marketing remark (446 chars)

    Attention investors and handy owner occupants. Polish style flat in the desirable Harambee neighborhood. Just north of Brewer's Hill and 1 block west of Riverwest close to downtown. This property needs some interior TLC but has a 2yr old roof, 3 car garage with a slab, and a HUGE yard. 9ft ceiling in basement opens up the possibility to add living space. Don't let this opportunity to own a property in this up and coming neighborhood pass you.

12. 2020-01-18
    status Pending 446-char remark

    Show marketing remark (446 chars)

    Attention investors and handy owner occupants. Polish style flat in the desirable Harambee neighborhood. Just north of Brewer's Hill and 1 block west of Riverwest close to downtown. This property needs some interior TLC but has a 2yr old roof, 3 car garage with a slab, and a HUGE yard. 9ft ceiling in basement opens up the possibility to add living space. Don't let this opportunity to own a property in this up and coming neighborhood pass you.

13. 2020-01-17
    listed $29,000 Active 446-char remark

    Show marketing remark (446 chars)

    Attention investors and handy owner occupants. Polish style flat in the desirable Harambee neighborhood. Just north of Brewer's Hill and 1 block west of Riverwest close to downtown. This property needs some interior TLC but has a 2yr old roof, 3 car garage with a slab, and a HUGE yard. 9ft ceiling in basement opens up the possibility to add living space. Don't let this opportunity to own a property in this up and coming neighborhood pass you.

ⓘ 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: $1,052 · $88/mo
• Projected year-2 tax: $1,775 · $148/mo
• Expected delta: +$723/yr (+$60/mo · 68.7%)

ⓘ 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 ≥97°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: $17,136
• − Mortgage interest: −$7,562
• − Property taxes: −$1,052
• − Insurance: −$675
• − Repairs & maintenance: −$1,371
• − Management: −$1,371
• − Depreciation: −$3,927
• Taxable income: $1,178
• Est. tax owed @ 24.0%: −$283
• After-tax cash flow: $3,032/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): 28,938
• Household income: $47,298
• Rent vs Own: 65.6% rent · 34.4% own
• Severe rent burden: 2397.0

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: Black 48% White 35% Hispanic / Latino 12% Two or more races 9%
• Hispanic origin (detail): Mexican 4% Puerto Rican 6%
• Common ancestry: Romanian 4% Portuguese 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 92% English-only · Spanish 6%

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: ▼ -216.73%
• Current HPI: 385.8225
• Rent YoY: ▲ 5.00%
• 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

+365.5% since first listed

13 events — show timeline

• 2026-05-14 Pending — METROMLS
• 2026-05-04 Price Changed $135,000 METROMLS
• 2026-04-30 Price Changed $140,000 METROMLS
• 2026-04-15 Price Changed $145,000 METROMLS
• 2026-04-08 Price Changed $149,900 METROMLS
• 2026-03-27 Listed $160,000 METROMLS
• 2025-03-01 Rental Removed $1,550 APPFOLIO
• 2025-02-12 Listed for Rent $1,550 APPFOLIO
• 2024-03-28 Rental Removed $1,295 APPFOLIO
• 2024-03-13 Listed for Rent $1,295 APPFOLIO
• 2020-01-29 Sold (MLS) $35,000 METROMLS
• 2020-01-18 Pending — METROMLS
• 2020-01-17 Listed $29,000 METROMLS

Property tax history

+2.7%/yr

Latest (2024): $1,052 · +7.1% YoY. Source: county tax records.