3035 N 10th St · Milwaukee, WI 53206

$185,000

4 bd · 2.0 ba · 2,051 sqft · MultiFamily public records · 8 Days on market

Built 1923 2,613 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 +25.5/30.0
• Appreciation +10.0/10.0
• DSCR +8.5/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Rent growth +4.6/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Investor Special - Remodeled 3x3 Duplex! This nicely updated duplex offers newer roof, central air , double-pane windows, and a newer water heater. Inside you'll find new flooring, kitchen cabinets, and fixtures. Each unit features a spacious 3-bedroom, 1-bath layout with front porches and a fenced-in backyard. Strong cash flow opportunity with projected Section 8 rental income of $2,800-$3,000/month for both rental units. A true money-maker in Milwaukee's North Division neighborhood--perfect for your portfolio!

Key facts

• 2,613 sq ft lot
• Built 1923
• Listed 7 days

Property features AI

Finance

• Other: Two-unit building

Exterior

• Utilities: Municipal water; Municipal sewer; 2 electric meters; 2 gas meters
• Home design: Duplex, 2-story multi-family property; Estimated living area range: 1,001–1,250 sq ft per unit
• Construction: Less than 1/2 acre lot (approximately 0.06 acre); Zoning: RT4
• Exterior features: Vinyl exterior; Other exterior materials

Interior

• Kitchen: Unit 1 kitchen includes stove and refrigerator; Unit 2 kitchen includes stove and refrigerator
• Bedrooms: Unit 1: 3 bedrooms; Unit 2: 3 bedrooms (master and other bedrooms on upper level)
• Bathrooms: Unit 1: 1 full bathroom; Unit 2: 1 full bathroom
• Interior features: Full block basement
• Laundry & utility: Separate electric and gas meters for units (2 electric meters, 2 gas meters)

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $185k.

Deal economics

• At list price, monthly cash flow is $432 ($5k/yr) — positive. Per door: $216/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Cap rate 9.1% 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 fast (+8.3%/yr); 160 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $2,214/mo this rent would consume 91% 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 $20k of equity ($1k loan paydown + $18k 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 $52k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 2y 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 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $185,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.20% ✓
• Cap rate: 9.09%
• Cash-on-cash: 10.00%
• DSCR: 1.45
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $98,448
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3258 N 12th St #3260	0.29mi	4/2.0	2,086 (+2%)	3mo	$51,000	$24	81
3283 N 14th St #3285	0.41mi	4/2.0	2,044 (-0%)	2mo	$80,000	$39	79
608 W Burleigh St #610	0.27mi	4/2.0	2,174 (+6%)	3mo	$112,000	$52	75
3065 N 10th St	0.04mi	4/2.0	1,753 (-14%)	2mo	$60,000	$34	72
2020 W Hopkins St	0.70mi	4/2.0	2,050 (-0%)	0mo	$105,000	$51	67
1304 W Ring St Unit 1304A	0.34mi	5/2.0 (+1)	1,851 (-10%)	1mo	$70,000	$38	62
137 W Hadley St #139	0.69mi	4/2.5	2,013 (-2%)	5mo	$138,000	$69	59
3266 N 17th St	0.50mi	4/2.0	2,322 (+13%)	2mo	$185,000	$80	53
3613 N 11th St	0.68mi	4/2.0	2,197 (+7%)	6mo	$35,000	$16	52
2555 N 16th St	0.74mi	4/2.0	1,898 (-8%)	5mo	$95,999	$51	49
3341 N 3rd St #3343	0.65mi	4/2.0	2,292 (+12%)	4mo	$109,000	$48	47
3615 N 13th St	0.71mi	4/2.0	2,326 (+13%)	1mo	$90,000	$39	44

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: 33.9%
• Equity multiple: 3.70×
• Total profit: $140,018
• Equity at exit: $166,663

10-year hold

• IRR: 31.0%
• Equity multiple: 9.10×
• Total profit: $419,800
• Equity at exit: $359,414

Cash invested: $51,800 (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: 13.9×

Monthly cashflow live

• Estimated rent: $2,214 high
• Mortgage (P&I): −$970
• Tax from tax record: −$270 /mo · $3,240/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$465
• Net cashflow: $432

Break-even live

Break-even rent $1,667

Max offer price $185,000

Occupancy floor 75%

Sensitivity live

Price	-10% $537	-5% $484	+0% $432	+5% $379	+10% $327
Rent	-10% $257	-5% $344	+0% $432	+5% $519	+10% $607
Rate	-1.0pp $525	-0.5pp $479	base $432	+0.5pp $384	+1.0pp $335

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,214
Total (2 units)			$2,214

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3420-22 N Vel R Phillips Ave Milwaukee, WI	3.0	1.0	2756	$1,195	$0.43	45d	1	0.66mi
3420 N Vel R. Phillips Ave Unit 3422 Milwaukee, WI	3.0	1.0	2756	$1,195	$0.43	45d	1	0.66mi
2634 N Doctor M.L.K. Jr Dr Milwaukee, WI	5.0	2.5	2512	$3,700	$1.47	45d	1	0.73mi
3042 N Palmer St #5 Milwaukee, WI	3.0	1.0	1718	$1,050	$0.61	25d	1	0.75mi
312 E Townsend St Unit 312 Milwaukee, WI	3.0	1.0	1400	$1,250	$0.89	25d	1	0.97mi
2308 W Clarke St Milwaukee, WI	4.0	2.0	1545	$1,750	$1.13	25d	1	1.04mi
400 E Meinecke Ave #402 Milwaukee, WI	3.0	1.0	1700	$1,800	$1.06	17d	1	1.20mi
2704 W Concordia Ave Unit Na Milwaukee, WI	5.0	2.0	1856	$2,500	$1.35	25d	1	1.25mi
2772 N Bremen St #2774 Milwaukee, WI	3.0	1.0	1500	$1,795	$1.20	45d	1	1.26mi
2809 W Clarke St Unit 12811 Milwaukee, WI	3.0	1.0	1400	$1,200	$0.86	18d	1	1.39mi
2116 W Atkinson Ave Unit A Milwaukee, WI	4.0	1.0	1707	$2,000	$1.17	3d	1	1.43mi
2432 N 28th St Milwaukee, WI	5.0	1.5	1876	$1,600	$0.85	45d	1	1.45mi
2119 W Brown St Milwaukee, WI	3.0	1.0	1754	$995	$0.57	4d	1	1.47mi
2012 N Buffum St Milwaukee, WI	3.0	2.5	2200	$2,695	$1.23	45d	1	1.48mi

Listing history 7 events

1. 2026-06-21
   days on market $185,000 Active 8 DOM
2. 2026-06-18
   days on market $185,000 Active 5 DOM
3. 2026-06-17
   days on market $185,000 Active 4 DOM
4. 2026-06-16
   days on market $185,000 Active 3 DOM
5. 2026-06-15
   days on market $185,000 Active 2 DOM
6. 2026-06-13
   remarks 378-char remark
7. 2026-06-13
   listed $185,000 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: $3,240 · $270/mo
• Projected year-2 tax: $3,331 · $278/mo
• Expected delta: +$91/yr (+$8/mo · 2.8%)

ⓘ 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 ≥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: $26,568
• − Mortgage interest: −$10,363
• − Property taxes: −$3,240
• − Insurance: −$925
• − Repairs & maintenance: −$2,125
• − Management: −$2,125
• − Depreciation: −$5,382
• Taxable income: $2,408
• Est. tax owed @ 24.0%: −$578
• After-tax cash flow: $4,604/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

+704.3% since first listed

12 events — show timeline

• 2026-06-12 Listed $185,000 METROMLS
• 2026-04-03 Price Changed $1,400 SHOWMOJO
• 2025-12-16 Listed for Rent $1,500 SHOWMOJO
• 2025-09-29 Sold (MLS) $180,000 METROMLS
• 2025-08-23 Pending — METROMLS
• 2025-08-20 Listed $189,900 METROMLS
• 2025-02-12 Sold (Public Records) $71,000 Public Records
• 2025-02-10 Sold (MLS) $71,000 METROMLS
• 2024-12-05 Price Changed $65,000 METROMLS
• 2024-11-28 Price Changed $70,000 METROMLS
• 2024-11-21 Listed $75,000 METROMLS
• 1979-10-01 Sold (Public Records) $23,000 Public Records

Property tax history

+15.2%/yr

Latest (2024): $3,240 · -10.1% YoY. Source: county tax records.