3214 W Fairmount Ave Unit 3214A · Milwaukee, WI 53209

$95,000

4 bd · 2.0 ba · 1,635 sqft · MultiFamily · 90 Days on market

Built 1927 1,742 sqft lot $58/sqft · 38% below area Est $154k · 38% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.7/5.0
• Livability +4.0/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Welcome to this charming and spacious 4-bedroom, 2-bath two-story home offering approximately 1,635 sq. ft. of comfortable living space! Built in 1927, this property blends classic character with a flexible layout that provides room to grow. Enjoy generous living and dining areas, plus well-sized bedrooms on both levels--perfect for a variety of living arrangements. The home also features a full basement for extra storage or future possibilities, a detached 2-car garage with convenient alley access, and municipal water and sewer. Located in the City of Milwaukee with RT3 zoning and outside the floodplain. Whether you're a homeowner looking for space or an investor seeking your next project, this property is full

Key facts

• Alley access
• Rt3 zoning
• Municipal water

Tags

• FULL BASEMENT
• DETACHED GARAGE
• MUNICIPAL WATER
• MUNICIPAL SEWER
• RT3 ZONING
• ALLEY ACCESS

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $95k.

Deal economics

• At list price, monthly cash flow is $789 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $89k (6.0% below list) — sets the bar for market timing.
• Cap rate 16.3% 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 fast (+8.6%/yr); 168 active listings in the ZIP; 8 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 $1,830/mo this rent would consume 45% of the median local household income ($48k/yr) (locally 3390% 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 $657 of loan paydown is wiped out by about $3k 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 + 8.0% rent growth), your $27k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 17y ago; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $80k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 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 1927 — 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: 1.93% ✓
• Cap rate: 16.26%
• Cash-on-cash: 35.60%
• DSCR: 2.58
• GRM: 4.3

CMA / ARV

• ARV (median comp): $154,200
• List price: $95,000
• Delta: -38.39%
• 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
5241 N 31st St	0.31mi	4/2.0	1,657 (+1%)	2mo	$104,000	$63	82
3130 W Cameron Ave Unit 3130A	0.08mi	5/2.0 (+1)	1,543 (-6%)	0mo	$165,000	$107	82
5021 N 27th St	0.33mi	5/2.0 (+1)	1,630 (-0%)	5mo	$135,000	$83	75
4855 N Hopkins St	0.42mi	4/2.0	1,610 (-2%)	8mo	$70,000	$43	72
5151 N 31st St	0.19mi	4/2.0	1,742 (+6%)	14mo	$168,000	$96	69
4703 N 35th St	0.44mi	4/2.0	1,789 (+9%)	9mo	$147,500	$82	56
5337 N 38th St	0.55mi	4/2.0	1,510 (-8%)	7mo	$110,000	$73	56
5011 N 26th St	0.40mi	5/2.0 (+1)	1,725 (+6%)	14mo	$145,000	$84	55
4648 N 28th St	0.54mi	3/2.0 (-1)	1,713 (+5%)	13mo	$70,500	$41	51
5342 N 35th St	0.45mi	4/2.0	1,843 (+13%)	10mo	$90,000	$49	50
4568 N 38th St	0.65mi	4/2.0	1,796 (+10%)	8mo	$70,000	$39	47
4572 N 38th St Unit 4572A	0.64mi	4/2.0	1,873 (+15%)	4mo	$110,000	$59	42

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 36.8%
• Equity multiple: 2.68×
• Total profit: $44,560
• Equity at exit: $14,165

10-year hold

• IRR: 45.9%
• Equity multiple: 6.55×
• Total profit: $147,642
• Equity at exit: $8,214

Cash invested: $26,600 (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 53209

• Rents YoY: 8.6%
• Active inventory: 168
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,830 high
• Mortgage (P&I): −$498
• Tax est. 1.5%: −$119 /mo · $1,425/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $789

Break-even live

Break-even rent $831

Max offer price $95,000

Occupancy floor 52%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5032 N 32nd St Milwaukee, WI	3.0	2.0	1089	$1,750	$1.61	12d	1	0.07mi
5541 N 35th St #5543 Milwaukee, WI	3.0	1.0	1130	$1,195	$1.06	4d	1	0.74mi
4334 W Eggert Pl Milwaukee, WI	4.0	1.0	1077	$1,695	$1.57	24d	1	0.77mi
4340 W Eggert Pl Milwaukee, WI	4.0	1.0	1066	$1,695	$1.59	24d	1	0.78mi
4702 N 44th St Milwaukee, WI	3.0	2.0	1050	$1,850	$1.76	44d	1	0.83mi
5073 N 48th St Milwaukee, WI	4.0	1.0	1152	$1,595	$1.38	15d	1	1.01mi
2116 W Atkinson Ave Unit A Milwaukee, WI	4.0	1.0	1707	$2,000	$1.17	2d	1	1.33mi
3925 N 42nd St Milwaukee, WI	3.0	1.0	1300	$1,675	$1.29	44d	1	1.48mi

Listing history 33 events

1. 2026-06-18
   days on market $95,000 Active 90 DOM
2. 2026-06-17
   days on market $95,000 Active 89 DOM
3. 2026-06-16
   days on market $95,000 Active 88 DOM
4. 2026-06-15
   days on market $95,000 Active 87 DOM
5. 2026-06-13
   days on market $95,000 Active 85 DOM
6. 2026-06-13
   days on market $95,000 Active 84 DOM
7. 2026-06-09
   days on market $95,000 Active 81 DOM
8. 2026-06-08
   days on market $95,000 Active 80 DOM
9. 2026-06-07
   days on market $95,000 Active 79 DOM
10. 2026-06-05
    days on market $95,000 Active 76 DOM
11. 2026-06-03
    days on market $95,000 Active 75 DOM
12. 2026-06-02
    days on market $95,000 Active 74 DOM
13. 2026-06-01
    days on market $95,000 Active 73 DOM
14. 2026-05-31
    days on market $95,000 Active 72 DOM
15. 2026-04-11
    price $95,000 721-char remark

    Show marketing remark (721 chars)

    Welcome to this charming and spacious 4-bedroom, 2-bath two-story home offering approximately 1,635 sq. ft. of comfortable living space! Built in 1927, this property blends classic character with a flexible layout that provides room to grow. Enjoy generous living and dining areas, plus well-sized bedrooms on both levels--perfect for a variety of living arrangements. The home also features a full basement for extra storage or future possibilities, a detached 2-car garage with convenient alley access, and municipal water and sewer. Located in the City of Milwaukee with RT3 zoning and outside the floodplain. Whether you're a homeowner looking for space or an investor seeking your next project, this property is full

16. 2026-04-11
    status Active 721-char remark

    Show marketing remark (721 chars)

    Welcome to this charming and spacious 4-bedroom, 2-bath two-story home offering approximately 1,635 sq. ft. of comfortable living space! Built in 1927, this property blends classic character with a flexible layout that provides room to grow. Enjoy generous living and dining areas, plus well-sized bedrooms on both levels--perfect for a variety of living arrangements. The home also features a full basement for extra storage or future possibilities, a detached 2-car garage with convenient alley access, and municipal water and sewer. Located in the City of Milwaukee with RT3 zoning and outside the floodplain. Whether you're a homeowner looking for space or an investor seeking your next project, this property is full

17. 2026-03-24
    status Pending 721-char remark

    Show marketing remark (721 chars)

    Welcome to this charming and spacious 4-bedroom, 2-bath two-story home offering approximately 1,635 sq. ft. of comfortable living space! Built in 1927, this property blends classic character with a flexible layout that provides room to grow. Enjoy generous living and dining areas, plus well-sized bedrooms on both levels--perfect for a variety of living arrangements. The home also features a full basement for extra storage or future possibilities, a detached 2-car garage with convenient alley access, and municipal water and sewer. Located in the City of Milwaukee with RT3 zoning and outside the floodplain. Whether you're a homeowner looking for space or an investor seeking your next project, this property is full

18. 2026-03-02
    listed $105,000 Active 721-char remark

    Show marketing remark (721 chars)

    Welcome to this charming and spacious 4-bedroom, 2-bath two-story home offering approximately 1,635 sq. ft. of comfortable living space! Built in 1927, this property blends classic character with a flexible layout that provides room to grow. Enjoy generous living and dining areas, plus well-sized bedrooms on both levels--perfect for a variety of living arrangements. The home also features a full basement for extra storage or future possibilities, a detached 2-car garage with convenient alley access, and municipal water and sewer. Located in the City of Milwaukee with RT3 zoning and outside the floodplain. Whether you're a homeowner looking for space or an investor seeking your next project, this property is full

19. 2026-02-20
    historical 112-char remark

    Show marketing remark (112 chars)

    Seller has not lived on the property, Buyer may need to get a Private Inspector. Reach out for more information.

20. 2025-11-24
    price $105,000 112-char remark

    Show marketing remark (112 chars)

    Seller has not lived on the property, Buyer may need to get a Private Inspector. Reach out for more information.

21. 2025-10-02
    price $109,100 112-char remark

    Show marketing remark (112 chars)

    Seller has not lived on the property, Buyer may need to get a Private Inspector. Reach out for more information.

22. 2025-09-19
    price $114,100 112-char remark

    Show marketing remark (112 chars)

    Seller has not lived on the property, Buyer may need to get a Private Inspector. Reach out for more information.

23. 2025-09-19
    status Active 112-char remark

    Show marketing remark (112 chars)

    Seller has not lived on the property, Buyer may need to get a Private Inspector. Reach out for more information.

24. 2025-08-19
    status Pending 112-char remark

    Show marketing remark (112 chars)

    Seller has not lived on the property, Buyer may need to get a Private Inspector. Reach out for more information.

25. 2025-08-19
    listed $115,000 Active 112-char remark

    Show marketing remark (112 chars)

    Seller has not lived on the property, Buyer may need to get a Private Inspector. Reach out for more information.

26. 2025-06-22
    status Pending
27. 2025-06-21
    historical
28. 2025-06-20
    listed $125,000 Active
29. 2024-10-08
    historical
30. 2024-10-01
    listed $115,000 Active
31. 2009-01-19
    historical
32. 2009-01-19
    listed $92,900
33. 2005-12-01
    soldstatus $80,000

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

Taxation est. · year 1

• Rental income: $21,958
• − Mortgage interest: −$5,321
• − Property taxes: −$1,425
• − Insurance: −$475
• − Repairs & maintenance: −$1,757
• − Management: −$1,757
• − Depreciation: −$2,764
• Taxable income: $8,460
• Est. tax owed @ 24.0%: −$2,030
• After-tax cash flow: $7,438/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): 45,170
• Household income: $48,486
• Rent vs Own: 56.2% rent · 43.8% own
• Severe rent burden: 3390.0

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 (66%)
• Race & ethnicity: Black 66% White 22% Hispanic / Latino 5% Two or more races 5% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 3% Portuguese 1% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 4% Other Asian/Pacific 1% Russian/Polish/Slavic 1%

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: ▼ -194.98%
• Current HPI: 172.4275
• Rent YoY: ▲ 8.61%
• 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

+18.8% since first listed

19 events — show timeline

• 2026-04-11 Price Changed $95,000 METROMLS
• 2026-04-11 Relisted — METROMLS
• 2026-03-24 Pending — METROMLS
• 2026-03-02 Listed $105,000 METROMLS
• 2026-02-20 Listing Removed — METROMLS
• 2025-11-24 Price Changed $105,000 METROMLS
• 2025-10-02 Price Changed $109,100 METROMLS
• 2025-09-19 Price Changed $114,100 METROMLS
• 2025-09-19 Relisted — METROMLS
• 2025-08-19 Pending — METROMLS
• 2025-08-19 Listed $115,000 METROMLS
• 2025-06-22 Pending — METROMLS
• 2025-06-21 Listing Removed — METROMLS
• 2025-06-20 Listed $125,000 METROMLS
• 2024-10-08 Listing Removed — METROMLS
• 2024-10-01 Listed $115,000 METROMLS
• 2009-01-19 Listed $92,900 METROMLS
• 2009-01-19 Listing Removed — METROMLS
• 2005-12-01 Sold (MLS) $80,000 METROMLS