1020 W Hadley St · Milwaukee, WI 53206

$36,000

4 bd · 2.0 ba · 1,361 sqft · SingleFamily public records · 19 Days on market

Built 1900 1,306 sqft lot

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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

Listing remarks MLS

this is a package deal and we will prefer cash or hard money lending, All 9 properties that must be purchased altogether. No exceptions. MLS nos. 1935800,1935803, 1935804,1935806, 1935812, 1935813, 1935817,1935822,1935823

Key facts

• 1,306 sq ft lot
• 2 garage spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $36k.

Deal economics

• At list price, monthly cash flow is $829 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $36k).
• Recommended offer: $35k (1.5% below list) — sets the bar for market timing.
• Cap rate 33.9% 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); 150 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $1,364/mo this rent would consume 56% 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 $4k of equity ($249 loan paydown + $4k 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 $10k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($35k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y 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.

Risks & watch-outs

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

Recommended offer $35,460 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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: 3.79% ✓
• Cap rate: 33.91%
• Cash-on-cash: 98.64%
• DSCR: 5.39
• GRM: 2.2

CMA / ARV

• ARV (on-the-fly): $88,465
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2937 N 11th St	0.18mi	4/2.0	1,347 (-1%)	1mo	$155,000	$115	89
2453 N 15th St	0.55mi	4/2.0	1,329 (-2%)	0mo	$135,000	$102	70
2748 N 11th St	0.06mi	3/1.0 (-1)	1,200 (-12%)	2mo	$54,900	$46	67
2564 N 17th St	0.53mi	3/1.0 (-1)	1,386 (+2%)	5mo	$52,000	$38	59
3003 N 20th St	0.70mi	4/1.0	1,437 (+6%)	2mo	$93,000	$65	53
2548 N 18th St	0.60mi	4/1.5	1,510 (+11%)	2mo	$130,000	$86	50
3311 N 8th St	0.68mi	4/1.0	1,259 (-8%)	2mo	$63,000	$50	50
3279 N Dr William Finlayson St	0.71mi	4/2.0	1,504 (+10%)	1mo	$202,500	$135	49
3024 N 20th St	0.70mi	4/1.0	1,461 (+7%)	4mo	$68,000	$47	48
2513 N Teutonia Ave	0.42mi	3/1.0 (-1)	1,164 (-14%)	1mo	$5,500	$5	46
3162 N 16th St	0.56mi	3/1.0 (-1)	1,200 (-12%)	4mo	$56,000	$47	42
1508 W Concordia Ave	0.72mi	3/1.0 (-1)	1,190 (-13%)	3mo	$150,000	$126	34

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: 8.90×
• Total profit: $79,607
• Equity at exit: $32,432

10-year hold

• IRR: —
• Equity multiple: 21.92×
• Total profit: $210,824
• Equity at exit: $69,940

Cash invested: $10,080 (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: 150
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $1,364 high
• Mortgage (P&I): −$189
• Tax est. 1.5%: −$45 /mo · $540/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $829

Break-even live

Break-even rent $315

Max offer price $36,000

Occupancy floor 34%

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: $9,000
• Closing costs: $1,080
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3045 N 11th St #3047 Milwaukee, WI	3.0	1.0	1065	$1,175	$1.10	4d	1	0.29mi
2577 N Vel R Phillips Ave Milwaukee, WI	3.0	1.0	1048	$1,400	$1.34	17d	1	0.56mi
3298 N 13th St Milwaukee, WI	3.0	1.0	885	$895	$1.01	43d	1	0.62mi
2724 N Palmer St Milwaukee, WI	3.0	1.0	900	$1,300	$1.44	43d	1	0.81mi
3416 N 17th St Unit 1 Milwaukee, WI	3.0	1.0	1200	$1,100	$0.92	43d	1	0.81mi
2741 N 23rd St Milwaukee, WI	3.0	1.0	900	$1,050	$1.17	14d	1	0.84mi
2741 N 23rd St Unit 2 Milwaukee, WI	3.0	1.0	1000	$1,100	$1.10	17d	1	0.84mi
2945 N 23rd St Milwaukee, WI	3.0	1.0	1014	$1,195	$1.18	43d	1	0.85mi
3042 N Palmer St #5 Milwaukee, WI	3.0	1.0	1718	$1,050	$0.61	23d	1	0.85mi
223 E Burleigh St Unit 223 Milwaukee, WI	4.0	1.0	1153	$1,395	$1.21	43d	1	0.88mi
2308 W Clarke St Milwaukee, WI	4.0	2.0	1545	$1,750	$1.13	23d	1	0.88mi
2507 N Buffum St Milwaukee, WI	3.0	1.0	1300	$1,375	$1.06	19d	1	1.00mi
3029 N Holton St Milwaukee, WI	3.0	1.0	980	$1,200	$1.22	43d	1	1.02mi
400 E Meinecke Ave #402 Milwaukee, WI	3.0	1.0	1700	$1,800	$1.06	16d	1	1.08mi
2765 N 26th St Unit 1 Milwaukee, WI	3.0	1.0	1125	$1,200	$1.07	4d	1	1.08mi
2106A W Keefe Ave Unit 2106 Lower Milwaukee, WI	3.0	1.0	1300	$1,100	$0.85	17d	1	1.11mi
524 E Wright St Milwaukee, WI	3.0	1.0	900	$1,275	$1.42	14d	1	1.12mi
312 E Townsend St Unit 312 Milwaukee, WI	3.0	1.0	1400	$1,250	$0.89	23d	1	1.16mi
3703 N 1st St Unit Upper-3705 Milwaukee, WI	3.0	1.0	1034	$1,200	$1.16	43d	1	1.19mi
2119 W Brown St Milwaukee, WI	3.0	1.0	1754	$995	$0.57	3d	1	1.21mi
2870 N 29th St #2872 Milwaukee, WI	3.0	1.0	1300	$1,250	$0.96	43d	1	1.24mi
2809 W Clarke St Unit 12811 Milwaukee, WI	3.0	1.0	1400	$1,200	$0.86	17d	1	1.25mi
2772 N Bremen St #2774 Milwaukee, WI	3.0	1.0	1500	$1,795	$1.20	43d	1	1.27mi
2704 W Concordia Ave Unit Na Milwaukee, WI	5.0	2.0	1856	$2,500	$1.35	23d	1	1.31mi
3388 N 27th St Unit 3388 Front House Milwaukee, WI	4.0	1.0	1212	$1,550	$1.28	4d	1	1.35mi
2761 N Humboldt Blvd Unit First Floor Milwaukee, WI	3.0	1.0	1236	$1,600	$1.29	17d	1	1.36mi
2821 W Concordia Ave Milwaukee, WI	3.0	1.5	1098	$1,595	$1.45	2d	1	1.37mi
2429 N Weil St Milwaukee, WI	3.0	1.0	1300	$1,500	$1.15	43d	1	1.39mi
2552 N Humboldt Blvd Milwaukee, WI	3.0	1.0	1000	$1,595	$1.59	23d	1	1.43mi
3100 W Center St Milwaukee, WI	3.0	2.0	1174	$1,531	$1.30	1d	1	1.44mi

Listing history 15 events

1. 2026-03-30
   status Pending
2. 2026-03-11
   listed $36,000 Active
3. 2025-10-13
   status Pending 221-char remark

   Show marketing remark (221 chars)

   this is a package deal and we will prefer cash or hard money lending, All 9 properties that must be purchased altogether. No exceptions. MLS nos. 1935800,1935803, 1935804,1935806, 1935812, 1935813, 1935817,1935822,1935823

4. 2025-10-13
   historical 221-char remark

   Show marketing remark (221 chars)

   this is a package deal and we will prefer cash or hard money lending, All 9 properties that must be purchased altogether. No exceptions. MLS nos. 1935800,1935803, 1935804,1935806, 1935812, 1935813, 1935817,1935822,1935823

5. 2025-09-18
   listed $30,000 Active 221-char remark

   Show marketing remark (221 chars)

   this is a package deal and we will prefer cash or hard money lending, All 9 properties that must be purchased altogether. No exceptions. MLS nos. 1935800,1935803, 1935804,1935806, 1935812, 1935813, 1935817,1935822,1935823

6. 2025-09-08
   status Pending 170-char remark

   Show marketing remark (170 chars)

   This is a package of properties that must be purchased altogether. No exceptions. MLS 1929833MLS 1929834MLS 1929836MLS 1929838MLS 1929839MLS 1929841MLS 1929845MLS 1929843

7. 2025-09-06
   historical 170-char remark

   Show marketing remark (170 chars)

   This is a package of properties that must be purchased altogether. No exceptions. MLS 1929833MLS 1929834MLS 1929836MLS 1929838MLS 1929839MLS 1929841MLS 1929845MLS 1929843

8. 2025-08-05
   listed $30,000 Active 170-char remark

   Show marketing remark (170 chars)

   This is a package of properties that must be purchased altogether. No exceptions. MLS 1929833MLS 1929834MLS 1929836MLS 1929838MLS 1929839MLS 1929841MLS 1929845MLS 1929843

9. 2024-03-30
   status Pending
10. 2024-03-29
    historical
11. 2024-03-10
    listed $44,900 Active
12. 2023-08-12
    historical
13. 2023-03-11
    listed $84,900 Active
14. 2022-03-02
    soldstatus $713,000
15. 2022-03-02
    soldstatus $713,000

ⓘ 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,365
• − Mortgage interest: −$2,017
• − Property taxes: −$540
• − Insurance: −$180
• − Repairs & maintenance: −$1,309
• − Management: −$1,309
• − Depreciation: −$1,047
• Taxable income: $9,963
• Est. tax owed @ 24.0%: −$2,391
• After-tax cash flow: $7,552/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

-95.0% since first listed

15 events — show timeline

• 2026-03-30 Pending — METROMLS
• 2026-03-11 Listed $36,000 METROMLS
• 2025-10-13 Pending — METROMLS
• 2025-10-13 Listing Removed — METROMLS
• 2025-09-18 Listed $30,000 METROMLS
• 2025-09-08 Pending — METROMLS
• 2025-09-06 Listing Removed — METROMLS
• 2025-08-05 Listed $30,000 METROMLS
• 2024-03-30 Pending — METROMLS
• 2024-03-29 Listing Removed — METROMLS
• 2024-03-10 Listed $44,900 METROMLS
• 2023-08-12 Listing Removed — METROMLS
• 2023-03-11 Listed $84,900 METROMLS
• 2022-03-02 Sold (Public Records) $713,000 Public Records
• 2022-03-02 Sold (Public Records) $713,000 Public Records

Property tax history

+6.0%/yr

Latest (2024): $3,423 · -58.1% YoY. Source: county tax records.