3048 N 36th St · Milwaukee, WI 53210

$137,500

3 bd · 2.0 ba · 1,810 sqft · MultiFamily public records · 85 Days on market

Built 1915 3,920 sqft lot Est $114k · 21% over

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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 +29.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Property is corporate owned and being sold as-is, no condition report will be provided. Seller, listing broker and agent's make no claims or warranties to the properties condition and urge buyers to perform any and all inspections/tests they deem necessary. Room sizes are estimated. Pre-approval or proof of funds needed with all offers. Additional properties available for a possible package deal/bulk sale. Agents: Please see private remarks PRIOR to drafting an offer! Seller has special requirements.

Key facts

• 3,920 sq ft lot
• Garage
• Built 1915

Property features AI

Finance

• Financial info: Multifamily property with two units

Exterior

• Parking: Detached 1-car garage
• Utilities: Municipal water; Municipal sewer; Separate electric and gas meters for each unit
• Home design: 1.5-story multi-family property; Two units in the building
• Construction: Block basement
• Exterior features: Vinyl exterior; Less than 1/2 acre lot (approximately 0.09 acre); Zoned RT2

Interior

• Kitchen: Unit 2 kitchen on upper level (approximately 10 x 10)
• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 2 bedrooms (master and second bedroom on upper level, both about 10 x 10)
• Bathrooms: Unit 1: 1 full bathroom; Unit 2: 1 full bathroom
• Interior features: Full basement with block construction
• Laundry & utility: Separate electric and gas meters for each unit (2 electric meters, 2 gas meters)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $138k.

Deal economics

• At list price, monthly cash flow is $473 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $138k).
• Recommended offer: $129k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.4% 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); 142 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $2,087/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 $951 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 + 3.8% rent growth), your $38k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($129k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 17y 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.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $129,249 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 1.52% ✓
• Cap rate: 10.42%
• Cash-on-cash: 14.73%
• DSCR: 1.66
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $114,030
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2873 N 34th St #2875	0.23mi	4/2.0 (+1)	1,888 (+4%)	1mo	$108,500	$57	76
3259 N 35th St	0.27mi	4/2.0 (+1)	1,773 (-2%)	3mo	$185,000	$104	76
3260 N 34th St Unit 3260A	0.30mi	4/2.0 (+1)	1,776 (-2%)	2mo	$86,000	$48	76
3233 W Auer Ave	0.24mi	4/2.0 (+1)	1,657 (-8%)	1mo	$78,500	$47	69
2972 N 28th St	0.51mi	4/2.0 (+1)	1,757 (-3%)	0mo	$141,806	$81	66
3148 N 39th St #3150	0.22mi	4/2.0 (+1)	2,044 (+13%)	2mo	$128,888	$63	62
2616 N 38th St	0.56mi	4/2.0 (+1)	1,887 (+4%)	2mo	$117,500	$62	60
3166 N 39th St #3168	0.24mi	4/2.0 (+1)	2,064 (+14%)	2mo	$145,000	$70	59
2847 N 26th St	0.65mi	4/2.0 (+1)	1,863 (+3%)	2mo	$70,000	$38	58
3024 N 44th St	0.51mi	4/2.0 (+1)	1,998 (+10%)	1mo	$120,775	$60	53
3218 N 26th St	0.67mi	4/2.0 (+1)	1,986 (+10%)	3mo	$165,000	$83	46
2973 N 26th St	0.61mi	4/2.0 (+1)	2,074 (+15%)	4mo	$150,000	$72	39

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: 6.4%
• Equity multiple: 1.25×
• Total profit: $9,725
• Equity at exit: $20,502

10-year hold

• IRR: 16.7%
• Equity multiple: 2.43×
• Total profit: $55,163
• Equity at exit: $11,888

Cash invested: $38,500 (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: 142
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,087 high
• Mortgage (P&I): −$721
• Tax from tax record: −$398 /mo · $4,773/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $473

Break-even live

Break-even rent $1,489

Max offer price $137,500

Occupancy floor 72%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,086
Total (2 units)			$2,087

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: $34,375
• Closing costs: $4,125
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2931 W Chambers St Milwaukee, WI	2.0	1.0	1400	$1,050	$0.75	23d	1	0.37mi
3122 N 42nd St Milwaukee, WI	3.0	1.0	1323	$1,495	$1.13	4d	1	0.39mi
3123 N 42nd St Milwaukee, WI	4.0	1.0	1500	$1,700	$1.13	23d	1	0.42mi
2870 N 29th St #2872 Milwaukee, WI	3.0	1.0	1300	$1,250	$0.96	43d	1	0.47mi
2713 N 44th St Milwaukee, WI	3.0	1.0	1450	$1,350	$0.93	43d	1	0.69mi
2809 W Clarke St Unit 12811 Milwaukee, WI	3.0	1.0	1400	$1,200	$0.86	17d	1	0.72mi
2842 N 47th St Milwaukee, WI	2.0	1.0	1500	$1,100	$0.73	43d	1	0.75mi
2976 N 49th St Milwaukee, WI	3.0	1.0	1700	$1,300	$0.76	17d	1	0.84mi
2502 N 45th St Milwaukee, WI	2.0	1.0	1949	$1,050	$0.54	16d	1	0.89mi
2841 N 49th St Milwaukee, WI	2.0	1.0	1237	$1,098	$0.89	43d	1	0.90mi
2308 W Clarke St Milwaukee, WI	4.0	2.0	1545	$1,750	$1.13	23d	1	0.99mi
2629 N 50th St Unit Upper Milwaukee, WI	3.0	1.0	1258	$1,375	$1.09	3d	1	1.06mi
3155 N 52nd St Milwaukee, WI	3.0	2.0	1300	$1,400	$1.08	43d	1	1.07mi
3925 N 42nd St Milwaukee, WI	3.0	1.0	1300	$1,675	$1.29	43d	1	1.08mi
2106A W Keefe Ave Unit 2106 Lower Milwaukee, WI	3.0	1.0	1300	$1,100	$0.85	17d	1	1.14mi
2409 N 49th St Milwaukee, WI	3.0	1.0	1335	$1,248	$0.93	43d	1	1.17mi
2947 N 54th St #2945 Milwaukee, WI	2.0	1.0	1244	$1,050	$0.84	14d	1	1.18mi
2001 N 38th St #2003 Milwaukee, WI	3.0	1.0	1326	$950	$0.72	2d	1	1.22mi
2438 N 51st St Unit 2 Milwaukee, WI	3.0	1.0	1300	$1,650	$1.27	23d	1	1.22mi
3629 N 53rd St Unit (Downstairs) Milwaukee, WI	2.0	1.0	1600	$1,275	$0.80	43d	1	1.31mi
1639 N 33rd St Milwaukee, WI	3.0	1.0	1424	$950	$0.67	23d	1	1.50mi

Listing history 32 events

1. 2026-06-18
   days on market $137,500 Active 85 DOM
2. 2026-06-17
   days on market $137,500 Active 84 DOM
3. 2026-06-16
   days on market $137,500 Active 83 DOM
4. 2026-06-15
   days on market $137,500 Active 82 DOM
5. 2026-06-13
   days on market $137,500 Active 80 DOM
6. 2026-06-13
   days on market $137,500 Active 79 DOM
7. 2026-06-10
   status $137,500 Active 76 DOM
8. 2026-06-09
   days on market $137,500 Contingent 76 DOM
9. 2026-06-08
   days on market $137,500 Contingent 75 DOM
10. 2026-06-07
    days on market $137,500 Contingent 74 DOM
11. 2026-06-05
    days on market $137,500 Contingent 71 DOM
12. 2026-06-03
    days on market $137,500 Contingent 70 DOM
13. 2026-06-02
    days on market $137,500 Contingent 69 DOM
14. 2026-06-01
    days on market $137,500 Contingent 68 DOM
15. 2026-05-31
    days on market $137,500 Contingent 67 DOM
16. 2026-04-22
    historical Contingent
17. 2026-03-25
    listed $137,500 Active
18. 2022-11-02
    soldstatus $388,000
19. 2017-04-13
    soldstatus $30,700
20. 2015-04-14
    soldstatus $13,000 Sold 505-char remark

    Show marketing remark (505 chars)

    Property is corporate owned and being sold as-is, no condition report will be provided. Seller, listing broker and agent's make no claims or warranties to the properties condition and urge buyers to perform any and all inspections/tests they deem necessary. Room sizes are estimated. Pre-approval or proof of funds needed with all offers. Additional properties available for a possible package deal/bulk sale. Agents: Please see private remarks PRIOR to drafting an offer! Seller has special requirements.

21. 2015-03-16
    status Pending 505-char remark

    Show marketing remark (505 chars)

    Property is corporate owned and being sold as-is, no condition report will be provided. Seller, listing broker and agent's make no claims or warranties to the properties condition and urge buyers to perform any and all inspections/tests they deem necessary. Room sizes are estimated. Pre-approval or proof of funds needed with all offers. Additional properties available for a possible package deal/bulk sale. Agents: Please see private remarks PRIOR to drafting an offer! Seller has special requirements.

22. 2015-02-04
    price $13,900 505-char remark

    Show marketing remark (505 chars)

    Property is corporate owned and being sold as-is, no condition report will be provided. Seller, listing broker and agent's make no claims or warranties to the properties condition and urge buyers to perform any and all inspections/tests they deem necessary. Room sizes are estimated. Pre-approval or proof of funds needed with all offers. Additional properties available for a possible package deal/bulk sale. Agents: Please see private remarks PRIOR to drafting an offer! Seller has special requirements.

23. 2015-01-08
    price $15,553 505-char remark

    Show marketing remark (505 chars)

    Property is corporate owned and being sold as-is, no condition report will be provided. Seller, listing broker and agent's make no claims or warranties to the properties condition and urge buyers to perform any and all inspections/tests they deem necessary. Room sizes are estimated. Pre-approval or proof of funds needed with all offers. Additional properties available for a possible package deal/bulk sale. Agents: Please see private remarks PRIOR to drafting an offer! Seller has special requirements.

24. 2014-09-05
    listed $27,000 Active 505-char remark

    Show marketing remark (505 chars)

    Property is corporate owned and being sold as-is, no condition report will be provided. Seller, listing broker and agent's make no claims or warranties to the properties condition and urge buyers to perform any and all inspections/tests they deem necessary. Room sizes are estimated. Pre-approval or proof of funds needed with all offers. Additional properties available for a possible package deal/bulk sale. Agents: Please see private remarks PRIOR to drafting an offer! Seller has special requirements.

25. 2012-01-20
    listed $95,000 134-char remark

    Show marketing remark (134 chars)

    Come see this dplx bungalow with its fenced in yard and carpeted rooms. This good investment is priced to sell so make an offer today.

26. 2012-01-20
    historical 134-char remark

    Show marketing remark (134 chars)

    Come see this dplx bungalow with its fenced in yard and carpeted rooms. This good investment is priced to sell so make an offer today.

27. 2009-01-18
    historical
28. 2009-01-18
    listed $38,900
29. 2008-04-23
    soldstatus $38,900
30. 2005-11-08
    soldstatus $73,600
31. 2004-09-17
    soldstatus $49,500
32. 1975-06-01
    soldstatus $20,100

ⓘ 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: $4,773 · $398/mo
• Projected year-2 tax: $4,773 · $398/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: $25,044
• − Mortgage interest: −$7,702
• − Property taxes: −$4,773
• − Insurance: −$688
• − Repairs & maintenance: −$2,004
• − Management: −$2,004
• − Depreciation: −$4,000
• Taxable income: $3,874
• Est. tax owed @ 24.0%: −$930
• After-tax cash flow: $4,741/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

+584.1% since first listed

17 events — show timeline

• 2026-04-22 Contingent — METROMLS
• 2026-03-25 Listed $137,500 METROMLS
• 2022-11-02 Sold (Public Records) $388,000 Public Records
• 2017-04-13 Sold (Public Records) $30,700 Public Records
• 2015-04-14 Sold (MLS) $13,000 METROMLS
• 2015-03-16 Pending — METROMLS
• 2015-02-04 Price Changed $13,900 METROMLS
• 2015-01-08 Price Changed $15,553 METROMLS
• 2014-09-05 Listed $27,000 METROMLS
• 2012-01-20 Listing Removed — METROMLS
• 2012-01-20 Listed $95,000 METROMLS
• 2009-01-18 Listed $38,900 METROMLS
• 2009-01-18 Listing Removed — METROMLS
• 2008-04-23 Sold (MLS) $38,900 METROMLS
• 2005-11-08 Sold (Public Records) $73,600 Public Records
• 2004-09-17 Sold (Public Records) $49,500 Public Records
• 1975-06-01 Sold (Public Records) $20,100 Public Records

Property tax history

+7.4%/yr

Latest (2024): $4,773 · +236.6% YoY. Source: county tax records.