3419 N 2nd St · Milwaukee, WI 53212

$45,000

2 bd · 1.0 ba · 958 sqft · SingleFamily public records · 95 Days on market

Built 1927 3,920 sqft lot $47/sqft · 47% below area Est $85k · 47% under ↓ 17% since listing

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

City owned single family needing repair. Open to owner and investors offers. District 7. $19,130 in essential repairs. Performance deposit required - buyer must complete essential repairs within 180 days and have City provide proof of completion for performance deposit return. Bring flashlights & use caution when entering. Note: City of Milwaukee Tax Foreclosure Property. Listing info not verified. This property is being sold in AS-IS condition

Key facts

• 3,920 sq ft lot
• 2 garage spots
• Built 1927

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $549 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $41k (9.0% below list) — sets the bar for market timing.
• Cap rate 20.9% 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 (+5.0%/yr); 131 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 5.0% rent growth), your $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($41k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $40,950 (9.0% below list)

Questions for the listing agent

1. It's been on market 95 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1927 — 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: 2.42% ✓
• Cap rate: 20.95%
• Cash-on-cash: 52.33%
• DSCR: 3.33
• GRM: 3.4

CMA / ARV

• ARV (median comp): $84,722
• List price: $45,000
• Delta: -46.88%
• 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
3224 N Palmer St	0.33mi	3/1.0 (+1)	1,008 (+5%)	1mo	$105,000	$104	70
3611 Dr William Finlayson St	0.26mi	2/1.0	910 (-5%)	14mo	$63,000	$69	68
3716 N Dr William Finlayson St	0.29mi	3/1.0 (+1)	1,002 (+5%)	11mo	$67,000	$67	65
3168 N Pierce St	0.61mi	3/1.0 (+1)	972 (+2%)	2mo	$149,900	$154	63
2941 N Dr William Finlayson St	0.64mi	3/1.0 (+1)	971 (+1%)	1mo	$142,000	$146	62
3815 N Vel R Phillips Ave	0.38mi	3/1.0 (+1)	1,046 (+9%)	1mo	$170,000	$163	61
3534 N 12th St	0.67mi	3/1.0 (+1)	1,002 (+5%)	2mo	$73,000	$73	54
2977 N Richards St	0.60mi	3/2.0 (+1)	993 (+4%)	7mo	$199,900	$201	51
3562 N 12th St	0.68mi	3/1.0 (+1)	1,029 (+7%)	1mo	$89,900	$87	50
3237 N Buffum St	0.38mi	3/1.0 (+1)	1,060 (+11%)	16mo	$69,000	$65	46
2959 N 6th St	0.64mi	3/1.5 (+1)	840 (-12%)	2mo	$85,500	$102	41
1114 W Ring St	0.67mi	3/1.0 (+1)	1,081 (+13%)	11mo	$20,000	$19	33

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 · 5.0% rent growth · sell at horizon

5-year hold

• IRR: 52.6%
• Equity multiple: 3.38×
• Total profit: $29,957
• Equity at exit: $6,710

10-year hold

• IRR: 58.6%
• Equity multiple: 7.41×
• Total profit: $80,773
• Equity at exit: $3,891

Cash invested: $12,600 (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 53212

• Rents YoY: 5.0%
• Active inventory: 131
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,089 high
• Mortgage (P&I): −$236
• Tax est. 1.5%: −$56 /mo · $675/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $549

Break-even live

Break-even rent $394

Max offer price $45,000

Occupancy floor 45%

Sensitivity live

Price	-10% $581	-5% $565	+0% $549	+5% $534	+10% $518
Rent	-10% $463	-5% $506	+0% $549	+5% $593	+10% $636
Rate	-1.0pp $572	-0.5pp $561	base $549	+0.5pp $538	+1.0pp $526

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3600 N Vel R. Phillips Ave Milwaukee, WI	2.0	1.0	900	$950	$1.06	5d	1	0.17mi
3703 N 1st St Unit Upper-3705 Milwaukee, WI	3.0	1.0	1034	$1,200	$1.16	45d	1	0.23mi
3373 N Richards St Milwaukee, WI	2.0	1.0	950	$1,150	$1.21	25d	1	0.27mi
3352 N Richards St Unit Second floor Milwaukee, WI	2.0	1.0	1000	$1,150	$1.15	45d	1	0.31mi
3228 N Achilles St Unit 3228A Milwaukee, WI	2.0	1.0	713	$895	$1.26	45d	1	0.32mi
3156 N 1st St Milwaukee, WI	2.0	1.0	900	$895	$0.99	45d	1	0.36mi
3255 N Buffum St Unit 3255 Upper Milwaukee, WI	2.0	1.0	1100	$1,350	$1.23	45d	1	0.39mi
3368 N Booth St #3374 Milwaukee, WI	2.0	1.0	900	$950	$1.06	45d	1	0.48mi
3368 N Booth St #3374 Milwaukee, WI	2.0	1.0	900	$950	$1.06	25d	1	0.48mi
3037 N 1st St Milwaukee, WI	2.0	1.0	763	$990	$1.30	45d	1	0.50mi
3042 N Palmer St #2 Milwaukee, WI	1.0	1.0	573	$825	$1.44	25d	1	0.53mi
3908 N 6th St Milwaukee, WI	2.0	1.0	1100	$1,150	$1.05	25d	1	0.58mi
3029 N Holton St Milwaukee, WI	3.0	1.0	980	$1,200	$1.22	45d	1	0.63mi
1135 W Atkinson Ave Unit 8 Milwaukee, WI	1.0	1.0	600	$700	$1.17	45d	1	0.69mi
1135 W Atkinson Ave Unit 9 Milwaukee, WI	1.0	1.0	600	$700	$1.17	25d	1	0.69mi
3298 N 13th St Milwaukee, WI	3.0	1.0	885	$895	$1.01	45d	1	0.73mi
4048 N 7th St Milwaukee, WI	2.0	1.0	1100	$1,150	$1.05	25d	1	0.73mi
3058 N 11th St Unit 3058 Lower Milwaukee, WI	2.0	1.0	840	$945	$1.12	25d	1	0.76mi
3045 N 11th St #3047 Milwaukee, WI	3.0	1.0	1065	$1,175	$1.10	5d	1	0.79mi
3300 N Dousman St Unit 4 Milwaukee, WI	1.0	1.0	650	$925	$1.42	45d	1	0.87mi
1326 W Burleigh St Unit 1326 Lower Milwaukee, WI	2.0	1.0	900	$825	$0.92	3d	1	0.87mi
2934 N Bremen St Milwaukee, WI	2.0	1.0	798	$1,398	$1.75	25d	1	0.91mi
2724 N Palmer St Milwaukee, WI	3.0	1.0	900	$1,300	$1.44	45d	1	0.91mi
1154 E Singer Cir Unit 2 Milwaukee, WI	1.0	1.0	800	$1,200	$1.50	25d	1	0.93mi
3444 N 17th St Milwaukee, WI	1.0	1.0	600	$695	$1.16	45d	1	0.96mi
1625 W Keefe Ave Unit 4 Milwaukee, WI	1.0	1.0	750	$725	$0.97	25d	1	0.96mi
2716A N Buffum St Milwaukee, WI	2.0	1.0	1100	$1,200	$1.09	22d	1	0.96mi
2772 N Bremen St Milwaukee, WI	2.0	1.0	900	$1,295	$1.44	45d	1	1.05mi
1345 W Locust St #10 Milwaukee, WI	1.0	1.0	800	$775	$0.97	25d	1	1.06mi
2577 N Vel R Phillips Ave Milwaukee, WI	3.0	1.0	1048	$1,400	$1.34	18d	1	1.07mi
3921 N 17th St Apt 3 Milwaukee, WI	1.0	1.0	650	$800	$1.23	45d	1	1.10mi
3646 N 19th St Milwaukee, WI	2.0	1.0	935	$1,100	$1.18	5d	1	1.11mi
3927-3929 N 17th St Milwaukee, WI	2.0	1.0	900	$1,195	$1.33	45d	1	1.11mi
4121 N Ardmore Ave Milwaukee, WI	1.0	1.0	525	$975	$1.86	11d	4	1.12mi
3304 N Newhall St Unit 4 Milwaukee, WI	1.0	1.0	700	$995	$1.42	45d	1	1.19mi
3304 N Newhall St Unit 1 Milwaukee, WI	2.0	1.0	800	$1,250	$1.56	22d	1	1.19mi
4000 N Morris Blvd Unit 13 Shorewood, WI	1.0	1.0	800	$975	$1.22	45d	1	1.21mi
2636 N Weil St Milwaukee, WI	2.0	1.0	900	$1,100	$1.22	3d	1	1.23mi
2955 N 17th St Unit B UPSTAIRS Milwaukee, WI	2.0	1.0	1000	$900	$0.90	18d	1	1.24mi
524 E Wright St Milwaukee, WI	3.0	1.0	900	$1,275	$1.42	15d	1	1.25mi

Listing history 11 events

1. 2026-06-08
   statusdays on market $45,000 Pending 95 DOM
2. 2026-06-07
   days on market $45,000 Active 94 DOM
3. 2026-06-05
   days on market $45,000 Active 91 DOM
4. 2026-06-03
   days on market $45,000 Active 90 DOM
5. 2026-06-02
   days on market $45,000 Active 89 DOM
6. 2026-06-01
   days on market $45,000 Active 88 DOM
7. 2026-05-31
   days on market $45,000 Active 87 DOM
8. 2026-03-04
   listed $45,000 Active 454-char remark

   Show marketing remark (454 chars)

   City owned single family needing repair. Open to owner and investors offers. District 7. $19,130 in essential repairs. Performance deposit required - buyer must complete essential repairs within 180 days and have City provide proof of completion for performance deposit return. Bring flashlights & use caution when entering. Note: City of Milwaukee Tax Foreclosure Property. Listing info not verified. This property is being sold in AS-IS condition

9. 2026-02-17
   status Pending 238-char remark

   Show marketing remark (238 chars)

   This is a tax foreclosed property. BIDS DUE Monday 2/16/2026 at 10:00AM. For the first 30-days of the listing period, no offers below the listing price will be considered per Wisconsin Foreclosure Law. Owner Occupants will be prioritized.

10. 2026-02-17
    historical 238-char remark

    Show marketing remark (238 chars)

    This is a tax foreclosed property. BIDS DUE Monday 2/16/2026 at 10:00AM. For the first 30-days of the listing period, no offers below the listing price will be considered per Wisconsin Foreclosure Law. Owner Occupants will be prioritized.

11. 2026-01-12
    listed $54,400 Active 238-char remark

    Show marketing remark (238 chars)

    This is a tax foreclosed property. BIDS DUE Monday 2/16/2026 at 10:00AM. For the first 30-days of the listing period, no offers below the listing price will be considered per Wisconsin Foreclosure Law. Owner Occupants will be prioritized.

ⓘ 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: $13,070
• − Mortgage interest: −$2,521
• − Property taxes: −$675
• − Insurance: −$225
• − Repairs & maintenance: −$1,046
• − Management: −$1,046
• − Depreciation: −$1,309
• Taxable income: $6,249
• Est. tax owed @ 24.0%: −$1,500
• After-tax cash flow: $5,094/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): 28,938
• Household income: $47,298
• Rent vs Own: 65.6% rent · 34.4% own
• Severe rent burden: 2397.0

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: Black 48% White 35% Hispanic / Latino 12% Two or more races 9%
• Hispanic origin (detail): Mexican 4% Puerto Rican 6%
• Common ancestry: Romanian 4% Portuguese 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 92% English-only · Spanish 6%

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: ▼ -216.73%
• Current HPI: 385.8225
• Rent YoY: ▲ 5.00%
• 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

-17.3% since first listed

4 events — show timeline

• 2026-03-04 Listed $45,000 METROMLS
• 2026-02-17 Pending — METROMLS
• 2026-02-17 Listing Removed — METROMLS
• 2026-01-12 Listed $54,400 METROMLS

Property tax history

+24.8%/yr

Latest (2024): $7,801 · +157.4% YoY. Source: county tax records.