3125 N 24th Pl · Milwaukee, WI 53206

$105,000

4 bd · 2.0 ba · 2,085 sqft · MultiFamily public records · 38 Days on market

Built 2026 4,791 sqft lot $50/sqft · 29% above area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.6/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

NEW CONSTRUCTION!!! This home is a part of the Early Childhood Education (ECE) Homeownership Initiative and is exclusively available to ECE Educators. For questions on eligibility, please contact directly.

Key facts

• 4,791 sq ft lot
• Built 2026
• Listed 37 days

Property features AI

Exterior

• Utilities: Municipal water; Municipal sewer
• Home design: Single-family home; One-story layout; New construction
• Construction: Less than 1/2 acre lot (approx. 0.11 acre); Zoned RT3
• Exterior features: Vinyl exterior; Sidewalks on the lot

Interior

• Kitchen: Kitchen island; Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: Main level master bedroom, approximately 11 x 11; Main level bedroom 2, approximately 11 x 11; Main level bedroom 3, approximately 13 x 9
• Bathrooms: One full bathroom; Tub with shower (shower over tub); Lower level stubbed for an additional bathroom
• Heating & cooling: Central air; Natural gas heating
• Interior features: Cathedral/vaulted ceilings; Walk-in closets; Full basement with 8'+ ceilings

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $105k.

Deal economics

• At list price, monthly cash flow is $667 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Recommended offer: $102k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.9% 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 (+8.3%/yr); 160 active listings in the ZIP; 8 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 $1,763/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 $11k of equity ($726 loan paydown + $10k 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 $29k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($102k) is reasonable based on typical stale-listing flexibility.

Recommended offer $101,850 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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 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: 1.68% ✓
• Cap rate: 13.91%
• Cash-on-cash: 27.22%
• DSCR: 2.21
• GRM: 5.0

CMA / ARV

• ARV (median comp): $43,123
• List price: $105,000
• Delta: 143.49%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3202 N 24th St #3204	0.13mi	4/2.0	2,169 (+4%)	2mo	$165,000	$76	85
2020 W Hopkins St	0.31mi	4/2.0	2,050 (-2%)	0mo	$105,000	$51	82
3382 N 23rd St #3384	0.37mi	4/2.0	2,266 (+9%)	0mo	$152,435	$67	68
2463 W Chambers St #2465	0.18mi	5/2.0 (+1)	2,318 (+11%)	2mo	$50,000	$22	66
3068 N 34th St Unit 3068A	0.61mi	5/2.0 (+1)	2,087 (+0%)	0mo	$110,000	$53	66
3607 N 20th St	0.63mi	4/2.0	2,046 (-2%)	2mo	$115,000	$56	66
2847 N 26th St	0.37mi	4/2.0	1,863 (-11%)	2mo	$70,000	$38	63
2022 W Keefe Ave Unit 2022A	0.55mi	4/2.0	1,914 (-8%)	1mo	$55,000	$29	60
3381 N 21st St #3383	0.42mi	4/2.0	2,364 (+13%)	2mo	$71,000	$30	56
2450 W Keefe Ave #2452	0.48mi	3/2.0 (-1)	1,831 (-12%)	1mo	$35,000	$19	51
3266 N 17th St	0.62mi	4/2.0	2,322 (+11%)	2mo	$185,000	$80	51
2873 N 34th St #2875	0.71mi	4/2.0	1,888 (-9%)	1mo	$108,500	$57	50

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: 47.9%
• Equity multiple: 4.71×
• Total profit: $108,999
• Equity at exit: $94,592

10-year hold

• IRR: 43.8%
• Equity multiple: 11.57×
• Total profit: $310,715
• Equity at exit: $203,992

Cash invested: $29,400 (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 53206

• Rents YoY: 8.3%
• Active inventory: 160
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,763 high
• Mortgage (P&I): −$551
• Tax est. 1.5%: −$131 /mo · $1,575/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $667

Break-even live

Break-even rent $919

Max offer price $105,000

Occupancy floor 57%

Sensitivity live

Price	-10% $739	-5% $703	+0% $667	+5% $631	+10% $594
Rent	-10% $528	-5% $597	+0% $667	+5% $736	+10% $806
Rate	-1.0pp $720	-0.5pp $694	base $667	+0.5pp $640	+1.0pp $612

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2704 W Concordia Ave Unit Na Milwaukee, WI	5.0	2.0	1856	$2,500	$1.35	24d	1	0.29mi
2308 W Clarke St Milwaukee, WI	4.0	2.0	1545	$1,750	$1.13	24d	1	0.69mi
2809 W Clarke St Unit 12811 Milwaukee, WI	3.0	1.0	1400	$1,200	$0.86	18d	1	0.75mi
2432 N 28th St Milwaukee, WI	5.0	1.5	1876	$1,600	$0.85	44d	1	0.91mi
3123 N 42nd St Milwaukee, WI	4.0	1.0	1500	$1,700	$1.13	24d	1	1.11mi
2116 W Atkinson Ave Unit A Milwaukee, WI	4.0	1.0	1707	$2,000	$1.17	2d	1	1.12mi
2713 N 44th St Milwaukee, WI	3.0	1.0	1450	$1,350	$0.93	44d	1	1.38mi
2119 W Brown St Milwaukee, WI	3.0	1.0	1754	$995	$0.57	4d	1	1.39mi

Listing history 16 events

1. 2026-06-21
   days on market $105,000 Active 38 DOM
2. 2026-06-18
   days on market $105,000 Active 35 DOM
3. 2026-06-17
   days on market $105,000 Active 34 DOM
4. 2026-06-16
   days on market $105,000 Active 33 DOM
5. 2026-06-15
   days on market $105,000 Active 32 DOM
6. 2026-06-13
   days on market $105,000 Active 30 DOM
7. 2026-06-13
   days on market $105,000 Active 29 DOM
8. 2026-06-09
   days on market $105,000 Active 26 DOM
9. 2026-06-08
   days on market $105,000 Active 25 DOM
10. 2026-06-07
    days on market $105,000 Active 24 DOM
11. 2026-06-05
    days on market $105,000 Active 21 DOM
12. 2026-06-03
    days on market $105,000 Active 20 DOM
13. 2026-06-02
    days on market $105,000 Active 19 DOM
14. 2026-06-01
    days on market $105,000 Active 18 DOM
15. 2026-05-31
    days on market $105,000 Active 17 DOM
16. 2026-05-13
    listed $105,000 Active 205-char remark

ⓘ 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: $21,152
• − Mortgage interest: −$5,882
• − Property taxes: −$1,575
• − Insurance: −$525
• − Repairs & maintenance: −$1,692
• − Management: −$1,692
• − Depreciation: −$3,055
• Taxable income: $6,731
• Est. tax owed @ 24.0%: −$1,615
• After-tax cash flow: $6,387/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

1 event — show timeline

• 2026-05-13 Listed $105,000 METROMLS