3578 N 10th St · Milwaukee, WI 53206

$3,500

5 bd · 1.5 ba · 1,443 sqft · SingleFamily public records · 108 Days on market

Built 1900 3,920 sqft lot $2/sqft · 96% 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

Listing remarks MLS

5 bedroom, 1.5 bath single family home offers a renovation opportunity. City of Milwaukee Tax Foreclosure Property. Scope of work is $43,250. Essential scope of work is $30,800. Pre-approval or proof of funds REQUIRED with all offers & must cover purchase price plus Essential Repairs (see scope). Buyer must complete Essential Repairs within 180 days & have City provide proof of completion for performance deposit return. Property is being sold in AS-IS Condition.

Key facts

• 3,920 sq ft lot
• Built 1900
• Listed 107 days

🏷️ Possibly a rental listed for sale. The $3,500 price doesn't fit this home's estimated sale value (~$85,523) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 5-bed/1.5-bath single-family listed at $4k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $4k).
• Recommended offer: $3k (9.0% below list) — sets the bar for market timing.
• Cap rate 476.2% 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; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $1,765/mo this rent would consume 72% 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 $374 of equity ($24 loan paydown + $350 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 $980 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 ($3k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 15y ago; this cycle's ask has dropped $2k (30%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $3,185 (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 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: 50.44% ✓
• Cap rate: 476.16%
• Cash-on-cash: 1678.11%
• DSCR: 75.67
• GRM: 0.2

CMA / ARV

• ARV (median comp): $85,523
• List price: $3,500
• Delta: -95.91%
• 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
1225 W Keefe Ave	0.22mi	5/1.0	1,294 (-10%)	1mo	$90,000	$70	70
3558 N 11th St	0.07mi	5/1.5	1,656 (+15%)	5mo	$150,000	$91	68
3783 N 9th St	0.20mi	4/2.0 (-1)	1,562 (+8%)	2mo	$220,000	$141	68
3422 N 11th St	0.20mi	5/2.0	1,249 (-13%)	1mo	$159,000	$127	66
3700 N 14th St	0.26mi	5/2.0	1,611 (+12%)	2mo	$205,000	$127	65
3279 N Dr William Finlayson St	0.47mi	4/2.0 (-1)	1,504 (+4%)	1mo	$202,500	$135	64
3735 N 15th St	0.37mi	5/1.0	1,263 (-12%)	2mo	$155,000	$123	59
3311 N 8th St	0.30mi	4/1.0 (-1)	1,259 (-13%)	2mo	$63,000	$50	56
4061 N 14th St	0.58mi	4/2.0 (-1)	1,566 (+8%)	7mo	$254,999	$163	46
4182 N 13th St	0.70mi	4/2.0 (-1)	1,351 (-6%)	5mo	$239,000	$177	46
3766 N Vel R Phillips Ave	0.46mi	4/3.0 (-1)	1,621 (+12%)	4mo	$129,000	$80	43
4144 N 14th St	0.67mi	4/2.0 (-1)	1,617 (+12%)	5mo	$210,000	$130	38

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: 101.56×
• Total profit: $98,547
• Equity at exit: $3,153

10-year hold

• IRR: —
• Equity multiple: 250.73×
• Total profit: $244,731
• Equity at exit: $6,800

Cash invested: $980 (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: 0.2×

Monthly cashflow live

• Estimated rent: $1,765 high
• Mortgage (P&I): −$18
• Tax est. 1.5%: −$4 /mo · $52/yr
• Insurance: −$1
• HOA: −$0
• Vacancy / Maint / Mgmt: −$371
• Net cashflow: $1,370

Break-even live

Break-even rent $31

Max offer price $3,500

Occupancy floor 17%

Sensitivity live

Price	-10% $1,373	-5% $1,372	+0% $1,370	+5% $1,369	+10% $1,368
Rent	-10% $1,231	-5% $1,301	+0% $1,370	+5% $1,440	+10% $1,510
Rate	-1.0pp $1,372	-0.5pp $1,371	base $1,370	+0.5pp $1,370	+1.0pp $1,369

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: $875
• Closing costs: $105
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
223 E Burleigh St Unit 223 Milwaukee, WI	4.0	1.0	1153	$1,395	$1.21	45d	1	0.93mi
2116 W Atkinson Ave Unit A Milwaukee, WI	4.0	1.0	1707	$2,000	$1.17	3d	1	1.00mi
3388 N 27th St Unit 3388 Front House Milwaukee, WI	4.0	1.0	1212	$1,550	$1.28	5d	1	1.22mi
2704 W Concordia Ave Unit Na Milwaukee, WI	5.0	2.0	1856	$2,500	$1.35	25d	1	1.27mi
2308 W Clarke St Milwaukee, WI	4.0	2.0	1545	$1,750	$1.13	25d	1	1.50mi

Listing history 49 events

1. 2026-06-21
   days on market $3,500 Active 108 DOM
2. 2026-06-18
   days on market $3,500 Active 105 DOM
3. 2026-06-17
   days on market $3,500 Active 104 DOM
4. 2026-06-16
   days on market $3,500 Active 103 DOM
5. 2026-06-15
   days on market $3,500 Active 102 DOM
6. 2026-06-13
   days on market $3,500 Active 100 DOM
7. 2026-06-13
   days on market $3,500 Active 99 DOM
8. 2026-06-09
   days on market $3,500 Active 96 DOM
9. 2026-06-08
   days on market $3,500 Active 95 DOM
10. 2026-06-07
    days on market $3,500 Active 94 DOM
11. 2026-06-05
    days on market $3,500 Active 91 DOM
12. 2026-06-03
    days on market $3,500 Active 90 DOM
13. 2026-06-02
    days on market $3,500 Active 89 DOM
14. 2026-06-01
    days on market $3,500 Active 88 DOM
15. 2026-05-31
    days on market $3,500 Active 87 DOM
16. 2026-05-04
    price $3,500 478-char remark

    Show marketing remark (478 chars)

    5 bedroom, 1.5 bath single family home offers a renovation opportunity. City of Milwaukee Tax Foreclosure Property. Scope of work is $43,250. Essential scope of work is $30,800. Pre-approval or proof of funds REQUIRED with all offers & must cover purchase price plus Essential Repairs (see scope). Buyer must complete Essential Repairs within 180 days & have City provide proof of completion for performance deposit return. Property is being sold in AS-IS Condition.

17. 2026-03-04
    listed $5,000 Active 478-char remark

    Show marketing remark (478 chars)

    5 bedroom, 1.5 bath single family home offers a renovation opportunity. City of Milwaukee Tax Foreclosure Property. Scope of work is $43,250. Essential scope of work is $30,800. Pre-approval or proof of funds REQUIRED with all offers & must cover purchase price plus Essential Repairs (see scope). Buyer must complete Essential Repairs within 180 days & have City provide proof of completion for performance deposit return. Property is being sold in AS-IS Condition.

18. 2026-02-17
    status Pending 238-char remark

    Show marketing remark (238 chars)

    This is a tax foreclosed property. BIDS DUE Monday 2/16/2026 at 10:00AM. For the first 30-days of the listing period, no offers below the listing price will be considered per Wisconsin Foreclosure Law. Owner Occupants will be prioritized.

19. 2026-02-17
    historical 238-char remark

    Show marketing remark (238 chars)

    This is a tax foreclosed property. BIDS DUE Monday 2/16/2026 at 10:00AM. For the first 30-days of the listing period, no offers below the listing price will be considered per Wisconsin Foreclosure Law. Owner Occupants will be prioritized.

20. 2026-01-12
    listed $49,600 Active 238-char remark

    Show marketing remark (238 chars)

    This is a tax foreclosed property. BIDS DUE Monday 2/16/2026 at 10:00AM. For the first 30-days of the listing period, no offers below the listing price will be considered per Wisconsin Foreclosure Law. Owner Occupants will be prioritized.

21. 2021-06-17
    soldstatus $10,000 Sold
22. 2021-04-21
    historical Contingent
23. 2021-04-21
    price $7,500
24. 2021-01-20
    listed $10,000 Active
25. 2020-10-08
    historical
26. 2020-07-31
    listed $10,000 Active
27. 2020-06-26
    historical
28. 2020-05-08
    price $10,000
29. 2020-05-08
    listed $16,500 Active
30. 2019-10-11
    historical
31. 2018-11-15
    status Active
32. 2018-11-15
    historical
33. 2018-01-15
    listed $39,900 Active
34. 2017-06-29
    historical
35. 2017-04-18
    price $26,000
36. 2017-03-28
    price $26,500
37. 2017-02-24
    price $27,000
38. 2017-02-07
    price $29,000
39. 2016-12-28
    listed $29,900 Active
40. 2013-02-10
    historical
41. 2013-02-10
    listed $11,500
42. 2013-02-10
    historical
43. 2013-02-10
    listed $12,700
44. 2013-02-02
    listed $59,400
45. 2013-02-02
    historical
46. 2012-04-19
    historical
47. 2011-10-20
    listed $12,900
48. 2007-01-09
    soldstatus $105,000
49. 2006-11-17
    soldstatus $109,900

ⓘ 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: $21,184
• − Mortgage interest: −$196
• − Property taxes: −$52
• − Insurance: −$18
• − Repairs & maintenance: −$1,695
• − Management: −$1,695
• − Depreciation: −$102
• Taxable income: $17,427
• Est. tax owed @ 24.0%: −$4,182
• After-tax cash flow: $12,263/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

-96.8% since first listed

34 events — show timeline

• 2026-05-04 Price Changed $3,500 METROMLS
• 2026-03-04 Listed $5,000 METROMLS
• 2026-02-17 Pending — METROMLS
• 2026-02-17 Listing Removed — METROMLS
• 2026-01-12 Listed $49,600 METROMLS
• 2021-06-17 Sold (MLS) $10,000 METROMLS
• 2021-04-21 Contingent — METROMLS
• 2021-04-21 Price Changed $7,500 METROMLS
• 2021-01-20 Listed $10,000 METROMLS
• 2020-10-08 Listing Removed — METROMLS
• 2020-07-31 Listed $10,000 METROMLS
• 2020-06-26 Listing Removed — METROMLS
• 2020-05-08 Price Changed $10,000 METROMLS
• 2020-05-08 Listed $16,500 METROMLS
• 2019-10-11 Listing Removed — METROMLS
• 2018-11-15 Relisted — METROMLS
• 2018-11-15 Listing Removed — METROMLS
• 2018-01-15 Listed $39,900 METROMLS
• 2017-06-29 Listing Removed — METROMLS
• 2017-04-18 Price Changed $26,000 METROMLS
• 2017-03-28 Price Changed $26,500 METROMLS
• 2017-02-24 Price Changed $27,000 METROMLS
• 2017-02-07 Price Changed $29,000 METROMLS
• 2016-12-28 Listed $29,900 METROMLS
• 2013-02-10 Listed $11,500 METROMLS
• 2013-02-10 Listing Removed — METROMLS
• 2013-02-10 Listed $12,700 METROMLS
• 2013-02-10 Listing Removed — METROMLS
• 2013-02-02 Listing Removed — METROMLS
• 2013-02-02 Listed $59,400 METROMLS
• 2012-04-19 Listing Removed — Smart MLS
• 2011-10-20 Listed $12,900 Smart MLS
• 2007-01-09 Sold (Public Records) $105,000 Public Records
• 2006-11-17 Sold (MLS) $109,900 METROMLS

Property tax history

-7.6%/yr

Latest (2024): $1,050 · -69.9% YoY. Source: county tax records.