216 W Center St · Milwaukee, WI 53212

$179,900

4 bd · 1.5 ba · 1,426 sqft · SingleFamily public records · 17 Days on market

Built 1900 3,484 sqft lot Est $200k · 10% under

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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 +15.9/30.0
• ARV discount +11.9/15.0
• DSCR +4.9/10.0
• 1% rule +4.0/10.0
• 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

Spacious 4 bedroom home with vaulted ceilings and 1.5 bathrooms. First floor has a large living room and dining room, Eat in kitchen and full Bath. Upstairs find 4 bedrooms and a half bath. All freshly painted and ready to move in or add to your portfolio. Fenced in back yard and off street parking.

Key facts

• Growing neighborhood
• Fenced-in yard
• Rear parking slab

Tags

• FENCED-IN YARD
• REAR PARKING SLAB
• GROWING NEIGHBORHOOD

Property features AI

Exterior

• Parking: 1 parking space
• Utilities: Municipal water; Municipal sewer; Natural gas
• Home design: Single-family home; 2-story
• Construction: Information source: Assessor/Public Record
• Exterior features: Fenced yard; Aluminum/steel exterior

Interior

• Kitchen: Oven; Refrigerator
• Bedrooms: Master bedroom (Main): 13 x 11; Bedroom 2 (Upper): 12 x 10; Bedroom 3 (Upper): 12 x 10; Bedroom 4 (Upper): 13 x 9
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Natural gas fuel
• Interior features: Full basement; Fenced yard
• Laundry & utility: Utilities: Municipal water and municipal sewer

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $84 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $162k (10.1% below list).
• Recommended offer: $162k (10.1% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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: 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 26d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 41% 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y 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 $90k; list at $180k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $161,716 (10.1% below list)

Questions for the listing agent

1. Built in 1900 — 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. 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?
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: 0.90% ✗
• Cap rate: 6.85%
• Cash-on-cash: 2.01%
• DSCR: 1.09
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $199,640
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2470 N Buffum St	0.45mi	3/1.5 (-1)	1,364 (-4%)	10mo	$170,000	$125	59
2745 N Booth St	0.45mi	4/2.0	1,585 (+11%)	3mo	$150,000	$95	55
2937 N 11th St	0.70mi	4/2.0	1,347 (-6%)	1mo	$155,000	$115	55
2417 N Pierce St	0.63mi	3/2.0 (-1)	1,393 (-2%)	7mo	$240,000	$172	54
2924 N 6th St	0.38mi	4/1.0	1,214 (-15%)	5mo	$100,000	$82	51
615 E Chambers St	0.60mi	3/1.5 (-1)	1,540 (+8%)	6mo	$272,500	$177	48
708 E Locust St	0.60mi	3/2.0 (-1)	1,512 (+6%)	9mo	$179,500	$119	47
2908 N Pierce St	0.60mi	4/2.0	1,277 (-10%)	10mo	$290,000	$227	44
3061 N Buffum St	0.56mi	3/2.0 (-1)	1,265 (-11%)	10mo	$239,900	$190	40
923 E Clarke St	0.71mi	4/1.0	1,573 (+10%)	10mo	$219,900	$140	39
909 E Clarke St	0.69mi	4/1.0	1,240 (-13%)	9mo	$198,000	$160	37
2851 N 11th St	0.66mi	3/1.0 (-1)	1,616 (+13%)	7mo	$35,000	$22	34

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: -11.0%
• Equity multiple: 0.59×
• Total profit: $-20,477
• Equity at exit: $26,824

10-year hold

• IRR: 0.8%
• Equity multiple: 1.06×
• Total profit: $3,235
• Equity at exit: $15,554

Cash invested: $50,372 (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: 9.3×

Monthly cashflow live

• Estimated rent: $1,617 high
• Mortgage (P&I): −$943
• Tax from tax record: −$175 /mo · $2,100/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $84

Break-even live

Break-even rent $1,511

Max offer price $179,900

Occupancy floor 90%

Sensitivity live

Price	-10% $186	-5% $135	+0% $84	+5% $33	+10% $-18
Rent	-10% $-44	-5% $20	+0% $84	+5% $148	+10% $212
Rate	-1.0pp $175	-0.5pp $130	base $84	+0.5pp $38	+1.0pp $-10

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2724 N Palmer St Milwaukee, WI	3.0	1.0	900	$1,300	$1.44	45d	1	0.19mi
2577 N Vel R Phillips Ave Milwaukee, WI	3.0	1.0	1048	$1,400	$1.34	18d	1	0.22mi
2507 N Buffum St Milwaukee, WI	3.0	1.0	1300	$1,375	$1.06	21d	1	0.41mi
3042 N Palmer St #5 Milwaukee, WI	3.0	1.0	1718	$1,050	$0.61	25d	1	0.45mi
223 E Burleigh St Unit 223 Milwaukee, WI	4.0	1.0	1153	$1,395	$1.21	45d	1	0.50mi
524 E Wright St Milwaukee, WI	3.0	1.0	900	$1,275	$1.42	16d	1	0.51mi
400 E Meinecke Ave #402 Milwaukee, WI	3.0	1.0	1700	$1,800	$1.06	18d	1	0.52mi
3029 N Holton St Milwaukee, WI	3.0	1.0	980	$1,200	$1.22	45d	1	0.54mi
2772 N Bremen St #2774 Milwaukee, WI	3.0	1.0	1500	$1,795	$1.20	45d	1	0.66mi
2761 N Humboldt Blvd Unit First Floor Milwaukee, WI	3.0	1.0	1236	$1,600	$1.29	18d	1	0.75mi
3045 N 11th St #3047 Milwaukee, WI	3.0	1.0	1065	$1,175	$1.10	6d	1	0.76mi
2429 N Weil St Milwaukee, WI	3.0	1.0	1300	$1,500	$1.15	45d	1	0.78mi
2552 N Humboldt Blvd Milwaukee, WI	3.0	1.0	1000	$1,595	$1.59	25d	1	0.81mi
1221 E Clarke St Milwaukee, WI	3.0	1.0	950	$1,400	$1.47	45d	1	0.88mi
312 E Townsend St Unit 312 Milwaukee, WI	3.0	1.0	1400	$1,250	$0.89	25d	1	0.91mi
1845 N Water St Milwaukee, WI	3.0	1.0–2.0	948	$4,455	$4.70	5d	84	1.03mi
3298 N 13th St Milwaukee, WI	3.0	1.0	885	$895	$1.01	45d	1	1.04mi
3703 N 1st St Unit Upper-3705 Milwaukee, WI	3.0	1.0	1034	$1,200	$1.16	45d	1	1.11mi
1025 E Land Pl Milwaukee, WI	3.0	1.0	1560	$1,750	$1.12	25d	1	1.16mi
818 E Brady St Unit 820 Milwaukee, WI	3.0	1.0	1200	$1,700	$1.42	45d	1	1.18mi
2627 N Bartlett Ave Milwaukee, WI	3.0	1.0	1100	$1,500	$1.36	14d	1	1.20mi
1116 E Hamilton St Milwaukee, WI	3.0	2.0	1400	$1,750	$1.25	18d	1	1.21mi
1703 N Astor St Milwaukee, WI	4.0	2.0	1800	$2,200	$1.22	45d	1	1.22mi
1551 N Water St Milwaukee, WI	3.0	1.0–2.0	1074	$3,395	$3.16	4d	52	1.25mi
3416 N 17th St Unit 1 Milwaukee, WI	3.0	1.0	1200	$1,100	$0.92	45d	1	1.30mi
3131 N Bartlett Ave Unit 1 Milwaukee, WI	4.0	1.0	1600	$1,750	$1.09	45d	1	1.30mi
1814 E Linnwood Ave Milwaukee, WI	4.0	2.0	1800	$3,100	$1.72	45d	1	1.34mi
1902 E Linnwood Ave Unit 1902 3002 Milwaukee, WI	3.0	1.0	1300	$1,899	$1.46	45d	1	1.39mi
1902 E Linnwood Ave Unit 1902 04 Milwaukee, WI	4.0	1.5	1599	$2,400	$1.50	18d	1	1.39mi
1902 E Linnwood Ave Unit 1902 05 Milwaukee, WI	4.0	1.5	1599	$2,400	$1.50	6d	1	1.39mi
3245 N Oakland Ave Milwaukee, WI	1.0–3.0	1.0	850	$1,524	$1.79	3d	7	1.39mi
2959 N Murray Ave Milwaukee, WI	3.0	1.0	1500	$1,800	$1.20	18d	1	1.41mi
3246 N Oakland Ave #3244 Milwaukee, WI	3.0	1.0	1309	$2,010	$1.54	3d	1	1.43mi
2741 N 23rd St Milwaukee, WI	3.0	1.0	900	$1,050	$1.17	16d	1	1.44mi
2741 N 23rd St Unit 2 Milwaukee, WI	3.0	1.0	1000	$1,100	$1.10	18d	1	1.44mi
1579 N Warren Ave Milwaukee, WI	3.0	1.0	1200	$1,500	$1.25	45d	1	1.45mi
2308 W Clarke St Milwaukee, WI	4.0	2.0	1545	$1,750	$1.13	25d	1	1.46mi
2937 N Frederick Ave Milwaukee, WI	4.0	1.0	1700	$1,925	$1.13	6d	1	1.46mi
2706 N Frederick Ave Milwaukee, WI	3.0	2.0	1500	$2,000	$1.33	18d	1	1.47mi
2945 N 23rd St Milwaukee, WI	3.0	1.0	1014	$1,195	$1.18	45d	1	1.47mi

Listing history 12 events

1. 2026-06-21
   days on market $179,900 Active 17 DOM
2. 2026-06-18
   days on market $179,900 Active 14 DOM
3. 2026-06-17
   days on market $179,900 Active 13 DOM
4. 2026-06-16
   days on market $179,900 Active 12 DOM
5. 2026-06-15
   days on market $179,900 Active 11 DOM
6. 2026-06-13
   days on market $179,900 Active 9 DOM
7. 2026-06-13
   days on market $179,900 Active 8 DOM
8. 2026-06-09
   days on market $179,900 Active 5 DOM
9. 2026-06-08
   days on market $179,900 Active 4 DOM
10. 2026-06-07
    days on market $179,900 Active 3 DOM
11. 2026-06-05
    remarks 564-char remark
12. 2026-06-05
    listed $179,900 Active 1 DOM

ⓘ 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: $2,100 · $175/mo
• Projected year-2 tax: $2,714 · $226/mo
• Expected delta: +$614/yr (+$51/mo · 29.2%)

ⓘ 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: $19,406
• − Mortgage interest: −$10,077
• − Property taxes: −$2,100
• − Insurance: −$900
• − Repairs & maintenance: −$1,552
• − Management: −$1,552
• − Depreciation: −$5,233
• Taxable loss: −$2,009
• Est. tax savings @ 24.0%: +$482
• After-tax cash flow: $1,492/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

+177.2% since first listed

22 events — show timeline

• 2026-06-04 Listed $179,900 METROMLS
• 2024-04-05 Sold (Public Records) $90,000 Public Records
• 2024-03-19 Sold (MLS) $90,000 METROMLS
• 2024-02-04 Pending — METROMLS
• 2024-01-22 Price Changed $95,900 METROMLS
• 2024-01-13 Price Changed $99,900 METROMLS
• 2023-12-12 Price Changed $108,900 METROMLS
• 2023-11-28 Price Changed $112,900 METROMLS
• 2023-11-20 Price Changed $117,900 METROMLS
• 2023-11-07 Price Changed $122,900 METROMLS
• 2023-10-26 Price Changed $127,000 METROMLS
• 2023-10-17 Price Changed $132,000 METROMLS
• 2023-10-05 Price Changed $138,000 METROMLS
• 2023-09-29 Listed $143,000 METROMLS
• 2021-08-12 Sold (Public Records) $80,000 Public Records
• 2021-08-12 Sold (MLS) $80,000 METROMLS
• 2021-07-15 Pending — METROMLS
• 2021-07-14 Listed $84,900 METROMLS
• 2019-08-06 Sold (Public Records) $62,900 Public Records
• 2019-07-30 Sold (MLS) $62,900 METROMLS
• 2019-07-16 Pending — METROMLS
• 2019-07-11 Listed $64,900 METROMLS

Property tax history

+11.0%/yr

Latest (2024): $2,100 · -33.7% YoY. Source: county tax records.