1740 S 4th St · Milwaukee, WI 53204

$89,900

2 bd · 1.0 ba · 901 sqft · SingleFamily public records · 1 Days on market

Built 1875 3,484 sqft lot Est $118k · 24% under

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Why this score? — see what drove the A 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
• Appreciation +10.0/10.0
• Livability +4.0/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks MLS

Quiet Neighborhood, not far from parks. This 2 bedroom, 1 bath home bungalow style home sits on a 25 X 140 lot, has a full basement, upgrades and is waiting for you to call it home!

Key facts

• Bungalow
• 3,484 sq ft lot
• Built 1875

Tags

• BUNGALOW
• CLOSE TO DOWNTOWN BAYVIEW
• EASY ACCESS TO FREEWAY
• FULL WALK OUT DOOR IN BASEMENT

Property features AI

Finance

• Other: Items left at closing will remain and will not be cleaned out

Exterior

• Utilities: Municipal water; Municipal sewer
• Home design: Single-family, one-story home; Residential zoning; Estimated living area in the 751–1000 sq ft range
• Construction: Information source indicates year built from assessor/public record
• Exterior features: Wood and other exterior materials; Sidewalks

Interior

• Kitchen: Kitchen on main level (approx. 15 x 12)
• Bedrooms: Master bedroom on main level (approx. 12 x 10); Second bedroom on main level (approx. 10 x 10)
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Full basement with walk-out/outer door; Living room on main level (approx. 15 x 15)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $437 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Cap rate 12.1% 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 (+2.0%/yr); 55 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 48% 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 37% of the median local income ($46k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $10k of equity ($622 loan paydown + $9k 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 + 2.0% rent growth), your $25k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 13y 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 $44k; list at $90k implies a 104% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1875 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,900

Questions for the listing agent

1. Built in 1875 — 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. 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.
6. 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.
7. 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: 1.60% ✓
• Cap rate: 12.13%
• Cash-on-cash: 20.83%
• DSCR: 1.93
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $118,031
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1930 S 6th St	0.22mi	2/1.0	907 (+1%)	10mo	$80,000	$88	80
1541 S 3rd St	0.26mi	2/1.0	904 (+0%)	18mo	$118,750	$131	72
1917 S 10th St	0.49mi	2/1.0	867 (-4%)	9mo	$145,000	$167	64
1434 S 3rd St	0.34mi	3/2.0 (+1)	830 (-8%)	5mo	$121,000	$146	58
317 W Maple St	0.04mi	2/1.5	1,018 (+13%)	22mo	$220,000	$216	56
1960 S 14th St	0.74mi	3/1.0 (+1)	900 (-0%)	7mo	$145,000	$161	54
1441 S 7th St	0.43mi	2/1.0	840 (-7%)	19mo	$80,100	$95	53
1409 S 5th St	0.38mi	2/1.0	968 (+7%)	21mo	$41,500	$43	52
946 W Windlake Ave	0.48mi	2/1.0	775 (-14%)	3mo	$75,000	$97	52
1545 S 3rd St	0.25mi	3/1.0 (+1)	810 (-10%)	18mo	$118,750	$147	51
1814 S 12th St	0.59mi	3/1.0 (+1)	861 (-4%)	22mo	$20,000	$23	42

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 · 2.0% rent growth · sell at horizon

5-year hold

• IRR: 39.3%
• Equity multiple: 4.00×
• Total profit: $75,429
• Equity at exit: $80,989

10-year hold

• IRR: 33.5%
• Equity multiple: 8.85×
• Total profit: $197,593
• Equity at exit: $174,656

Cash invested: $25,172 (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 53204

• Home prices YoY: 19.0%
• Rents YoY: 2.0%
• Active inventory: 55
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,434 high
• Mortgage (P&I): −$471
• Tax from tax record: −$187 /mo · $2,246/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$301
• Net cashflow: $437

Break-even live

Break-even rent $881

Max offer price $89,900

Occupancy floor 65%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
600 W Rogers St Unit 4 Milwaukee, WI	1.0	1.0	740	$995	$1.34	43d	1	0.26mi
600 W Rogers St Unit 3 Milwaukee, WI	1.0	1.0	740	$850	$1.15	43d	1	0.26mi
2033 S 1st St Unit 119 Milwaukee, WI	1.0	1.0	761	$1,775	$2.33	43d	1	0.30mi
2141 S Robinson Ave Milwaukee, WI	3.0	1.0–2.0	1006	$2,272	$2.26	1d	20	0.54mi
816 W Greenfield Ave Unit 102 Milwaukee, WI	1.0	1.0	800	$795	$0.99	16d	1	0.55mi
2252 S 7th St Unit Upper Front Milwaukee, WI	2.0	1.0	900	$1,200	$1.33	43d	1	0.57mi
2252 S 7th St Unit Upper Rear Milwaukee, WI	1.0	1.0	600	$850	$1.42	19d	1	0.57mi
124 W Washington St Milwaukee, WI	2.0	1.0–2.0	845	$2,126	$2.52	43d	11	0.67mi
211 W Mineral St Unit 1379041P Milwaukee, WI	1.0	1.0	602	$7,344	$12.20	43d	1	0.69mi
211 W Mineral St Unit 1522306P Milwaukee, WI	1.0	1.0	602	$3,240	$5.38	20d	1	0.69mi
211 W Mineral St Unit 302 Milwaukee, WI	1.0	1.0	620	$1,650	$2.66	43d	1	0.69mi
2365 S 7th St Milwaukee, WI	1.0	1.0	650	$850	$1.31	23d	1	0.71mi
924 S 5th St Unit 501 Milwaukee, WI	2.0	1.0	1005	$1,917	$1.91	43d	1	0.74mi
2482 S 5th St Milwaukee, WI	2.0	1.0	900	$1,095	$1.22	23d	1	0.79mi
2435 S 9th St Milwaukee, WI	2.0	1.0	900	$895	$0.99	23d	1	0.82mi
2435 S 9th St Unit 2435A Milwaukee, WI	2.0	1.0	900	$1,025	$1.14	43d	1	0.82mi
2435 S 9th St Unit 2435 Milwaukee, WI	2.0	1.0	900	$895	$0.99	43d	1	0.82mi
611 W National Ave Milwaukee, WI	1.0–2.0	1.0–2.0	866	$1,900	$2.19	3d	3	0.85mi
2445 S Austin St Milwaukee, WI	3.0	1.0	1000	$1,598	$1.60	14d	1	0.85mi
2143 S 15th St Unit 2143 Milwaukee, WI	1.0	1.0	645	$750	$1.16	16d	1	0.91mi
2562 S 9th St Milwaukee, WI	2.0	1.0	1000	$995	$0.99	43d	1	0.98mi
2161 S 16th St Unit 2161 Milwaukee, WI	2.0	1.0	850	$1,045	$1.23	43d	1	1.02mi
2327 S 15th St Unit 1 Milwaukee, WI	2.0	1.0	780	$845	$1.08	4d	1	1.03mi
1578 S Union St Unit 1 Milwaukee, WI	2.0	1.0	900	$1,050	$1.17	23d	1	1.13mi
300 W Florida St Unit 415 Milwaukee, WI	2.0	1.0	991	$2,350	$2.37	43d	1	1.15mi
324 S 2nd St Unit 1504186P Milwaukee, WI	2.0	1.0	1033	$4,713	$4.56	43d	1	1.16mi
324 S 2nd St Unit 1504185P Milwaukee, WI	2.0	1.0	1033	$4,467	$4.32	2d	1	1.16mi
324 S 2nd St Apt 309 Milwaukee, WI	2.0	2.0	1085	$2,525	$2.33	4d	1	1.16mi
1926 S 20th St Milwaukee, WI	3.0	1.0	795	$1,200	$1.51	43d	1	1.16mi
720 W Virginia St Milwaukee, WI	1.0	1.0	746	$1,800	$2.41	10d	5	1.16mi
1568 W Windlake Ave Unit 4 Milwaukee, WI	2.0	1.0	713	$895	$1.26	14d	1	1.16mi
205 W Oregon St Unit 322 Milwaukee, WI	2.0	2.0	1037	$2,360	$2.28	43d	1	1.18mi
214 E Florida St Milwaukee, WI	1.0	1.0	624	$1,554	$2.49	1d	4	1.20mi
625 W Freshwater Way Milwaukee, WI	1.0–2.0	1.0–2.0	1137	$3,650	$3.21	2d	12	1.21mi
747 W Freshwater Way Unit 112 Milwaukee, WI	2.0	1.0	983	$2,725	$2.77	43d	1	1.21mi
625 W Freshwater Way Unit 508 Milwaukee, WI	1.0	1.0	900	$2,200	$2.44	43d	1	1.21mi
235 E Pittsburgh Ave Milwaukee, WI	1.0–2.0	1.0–2.5	1008	$2,775	$2.75	3d	6	1.26mi
2038 W Lincoln Ave Unit A Milwaukee, WI	1.0	1.0	607	$750	$1.24	23d	1	1.35mi
441 E Erie St Milwaukee, WI	1.0–2.0	1.0–2.0	1044	$4,099	$3.93	3d	4	1.35mi
2460 S Delaware Ave Unit 1 Milwaukee, WI	2.0	1.0	1100	$1,600	$1.45	43d	1	1.41mi

Listing history 2 events

1. 2026-06-19
   remarks 323-char remark
2. 2026-06-19
   listed $89,900 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: $2,246 · $187/mo
• Projected year-2 tax: $2,246 · $187/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 ≥96°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,210
• − Mortgage interest: −$5,036
• − Property taxes: −$2,246
• − Insurance: −$450
• − Repairs & maintenance: −$1,377
• − Management: −$1,377
• − Depreciation: −$2,615
• Taxable income: $4,110
• Est. tax owed @ 24.0%: −$986
• After-tax cash flow: $4,257/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): 39,996
• Household income: $45,934
• Rent vs Own: 73.8% rent · 26.2% own
• Severe rent burden: 2357.0

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 Hispanic (68%)
• Race & ethnicity: Hispanic / Latino 68% Two or more races 35% White 15% Black 11% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 51% Puerto Rican 13%
• Common ancestry: Romanian 3% Portuguese 1% Lithuanian 1%
• Foreign-born: 28% · Canada
• Languages at home: 35% English-only · Spanish 61% Other Asian/Pacific 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: ▲ 64.27%
• Current HPI: 403.236
• Rent YoY: ▲ 2.00%
• 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

+312.4% since first listed

5 events — show timeline

• 2026-06-18 Listed $89,900 METROMLS
• 2013-01-18 Listing Removed — METROMLS
• 2013-01-18 Listed $46,000 METROMLS
• 2008-05-15 Sold (MLS) $44,000 METROMLS
• 1987-07-01 Sold (Public Records) $21,800 Public Records

Property tax history

+3.5%/yr

Latest (2024): $2,246 · +43.8% YoY. Source: county tax records.