2415 N 53rd St · Milwaukee, WI 53210

$155,000

4 bd · 1.0 ba · 1,164 sqft · SingleFamily public records · 182 Days on market

Built 1926 3,484 sqft lot $133/sqft · 12% below area Est $176k · 12% 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 +16.9/30.0
• ARV discount +13.0/15.0
• DSCR +5.3/10.0
• 1% rule +4.2/10.0
• Livability +4.0/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This well-maintained bungalow features beautiful natural woodwork and a large, inviting kitchen. The home offers a bright living room, a formal dining area, and comfortable bedrooms. A nice-sized yard provides room for outdoor enjoyment.

Key facts

• Natural woodwork
• Large kitchen
• Bright living room

Tags

• NATURAL WOODWORK
• LARGE KITCHEN
• BRIGHT LIVING ROOM
• FORMAL DINING AREA
• NICE-SIZED YARD

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $103 ($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 $143k (7.6% below list).
• Recommended offer: $136k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.1% 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); 144 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• This rent runs 36% of the median local income ($48k/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 182 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $46k; list at $155k implies a 237% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $136,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 182 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1926 — 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: 0.92% ✗
• Cap rate: 7.09%
• Cash-on-cash: 2.84%
• DSCR: 1.13
• GRM: 9.0

CMA / ARV

• ARV (median comp): $176,363
• List price: $155,000
• Delta: -12.11%
• 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
2410 N 56th St	0.13mi	3/2.0 (-1)	1,155 (-1%)	11mo	$175,000	$152	75
2206 N 57th St	0.30mi	3/1.0 (-1)	1,221 (+5%)	3mo	$250,000	$205	71
2434 N 59th St	0.30mi	3/2.0 (-1)	1,206 (+4%)	3mo	$285,000	$236	69
2652 N 55th St	0.32mi	3/1.0 (-1)	1,101 (-5%)	6mo	$92,500	$84	66
2142 N 51st St	0.36mi	3/1.0 (-1)	1,259 (+8%)	1mo	$335,000	$266	64
2436 N 60th St	0.36mi	3/1.0 (-1)	1,275 (+10%)	5mo	$205,000	$161	58
2408 N 47th St	0.41mi	4/1.5	1,258 (+8%)	9mo	$112,000	$89	58
2772 N 52nd St	0.47mi	3/1.0 (-1)	1,278 (+10%)	2mo	$141,000	$110	55
2140 N 64th St	0.69mi	3/1.0 (-1)	1,130 (-3%)	11mo	$305,000	$270	49
2721 N 56th St	0.43mi	3/1.0 (-1)	1,000 (-14%)	11mo	$105,000	$105	42
2771 N 51st St	0.48mi	3/2.0 (-1)	1,277 (+10%)	13mo	$185,000	$145	42
2508 N 62nd St	0.49mi	3/2.0 (-1)	1,330 (+14%)	9mo	$375,000	$282	37

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: -10.9%
• Equity multiple: 0.60×
• Total profit: $-17,399
• Equity at exit: $23,111

10-year hold

• IRR: -0.6%
• Equity multiple: 0.96×
• Total profit: $-1,788
• Equity at exit: $13,402

Cash invested: $43,400 (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: 144
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,432 high
• Mortgage (P&I): −$813
• Tax from tax record: −$151 /mo · $1,818/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$301
• Net cashflow: $103

Break-even live

Break-even rent $1,302

Max offer price $155,000

Occupancy floor 88%

Sensitivity live

Price	-10% $190	-5% $146	+0% $103	+5% $59	+10% $15
Rent	-10% $-11	-5% $46	+0% $103	+5% $159	+10% $216
Rate	-1.0pp $181	-0.5pp $142	base $103	+0.5pp $62	+1.0pp $22

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2438 N 51st St Unit 2 Milwaukee, WI	3.0	1.0	1300	$1,650	$1.27	25d	1	0.14mi
2409 N 49th St Milwaukee, WI	3.0	1.0	1335	$1,248	$0.93	45d	1	0.24mi
2629 N 50th St Unit Upper Milwaukee, WI	3.0	1.0	1258	$1,375	$1.09	4d	1	0.32mi
2629 N 49th St Milwaukee, WI	3.0	1.0	1200	$1,350	$1.12	45d	1	0.35mi
2232 N 44th St Unit 2234 Upper Milwaukee, WI	3.0	1.0	1000	$1,195	$1.20	45d	1	0.62mi
2713 N 44th St Milwaukee, WI	3.0	1.0	1450	$1,350	$0.93	45d	1	0.66mi
3012 N 57th St Unit Lower Milwaukee, WI	3.0	1.0	1130	$1,398	$1.24	5d	1	0.78mi
2251 N 41st St Unit Lower Milwaukee, WI	3.0	1.0	1187	$1,198	$1.01	15d	1	0.78mi
2403-2405 N 39th St Unit 2405 Upper Milwaukee, WI	3.0	1.0	1141	$995	$0.87	11d	1	0.88mi
2403-2405 N 39th St Unit 2403 Lower Milwaukee, WI	3.0	1.0	1200	$995	$0.83	11d	1	0.88mi
3155 N 52nd St Milwaukee, WI	3.0	2.0	1300	$1,400	$1.08	45d	1	0.94mi
2001 N 38th St #2003 Milwaukee, WI	3.0	1.0	1326	$950	$0.72	3d	1	1.04mi
3123 N 42nd St Milwaukee, WI	4.0	1.0	1500	$1,700	$1.13	25d	1	1.13mi
3122 N 42nd St Milwaukee, WI	3.0	1.0	1323	$1,495	$1.13	5d	1	1.15mi
2201 N 32nd St Unit 2201 Milwaukee, WI	3.0	1.0	1100	$1,195	$1.09	17d	1	1.33mi
6100 W State St Wauwatosa, WI	1.0–3.0	1.0–2.0	1160	$3,017	$2.60	3d	20	1.36mi
3100 W Center St Milwaukee, WI	3.0	2.0	1174	$1,531	$1.30	3d	1	1.39mi
1639 N 33rd St Milwaukee, WI	3.0	1.0	1424	$950	$0.67	25d	1	1.44mi

Listing history 14 events

1. 2026-06-13
   statusdays on market $155,000 Pending 182 DOM
2. 2026-06-09
   days on market $155,000 Active 181 DOM
3. 2026-06-08
   days on market $155,000 Active 180 DOM
4. 2026-06-07
   days on market $155,000 Active 179 DOM
5. 2026-06-05
   days on market $155,000 Active 176 DOM
6. 2026-06-03
   days on market $155,000 Active 175 DOM
7. 2026-06-02
   days on market $155,000 Active 174 DOM
8. 2026-06-01
   days on market $155,000 Active 173 DOM
9. 2026-05-31
   days on market $155,000 Active 172 DOM
10. 2026-05-06
    price $155,000 237-char remark

    Show marketing remark (237 chars)

    This well-maintained bungalow features beautiful natural woodwork and a large, inviting kitchen. The home offers a bright living room, a formal dining area, and comfortable bedrooms. A nice-sized yard provides room for outdoor enjoyment.

11. 2026-04-01
    price $160,000 237-char remark

    Show marketing remark (237 chars)

    This well-maintained bungalow features beautiful natural woodwork and a large, inviting kitchen. The home offers a bright living room, a formal dining area, and comfortable bedrooms. A nice-sized yard provides room for outdoor enjoyment.

12. 2025-12-10
    listed $165,000 Active 237-char remark

    Show marketing remark (237 chars)

    This well-maintained bungalow features beautiful natural woodwork and a large, inviting kitchen. The home offers a bright living room, a formal dining area, and comfortable bedrooms. A nice-sized yard provides room for outdoor enjoyment.

13. 1994-02-01
    soldstatus $46,000
14. 1988-01-01
    soldstatus $26,000

ⓘ 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: $1,818 · $151/mo
• Projected year-2 tax: $2,343 · $195/mo
• Expected delta: +$525/yr (+$44/mo · 28.9%)

ⓘ 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 ≥99°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: $17,186
• − Mortgage interest: −$8,682
• − Property taxes: −$1,818
• − Insurance: −$775
• − Repairs & maintenance: −$1,375
• − Management: −$1,375
• − Depreciation: −$4,509
• Taxable loss: −$1,348
• Est. tax savings @ 24.0%: +$323
• After-tax cash flow: $1,554/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

+496.2% since first listed

5 events — show timeline

• 2026-05-06 Price Changed $155,000 METROMLS
• 2026-04-01 Price Changed $160,000 METROMLS
• 2025-12-10 Listed $165,000 METROMLS
• 1994-02-01 Sold (Public Records) $46,000 Public Records
• 1988-01-01 Sold (Public Records) $26,000 Public Records

Property tax history

-1.2%/yr

Latest (2024): $1,818 · -36.4% YoY. Source: county tax records.