4632 N 24th Pl · Milwaukee, WI 53209

$70,350

2 bd · 1.0 ba · 974 sqft · SingleFamily public records · 1 Days on market

Built 1938 4,791 sqft lot $72/sqft · 46% below area Est $130k · 46% under

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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
• Rent growth +4.7/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a tax foreclosed property. For the first 30-days of the listing period, no offers below the listing price will be considered per Wisconsin Foreclosure Law. Owner Occupants ONLY. BIDS DUE May 18th, 2026 AT 10:00am

Key facts

• 4,791 sq ft lot
• Built 1938

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $451 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Cap rate 14.0% 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 (+8.6%/yr); 168 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $486 of loan paydown is wiped out by about $2k 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 + 8.0% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 13y ago; this cycle's ask has dropped $14k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $13k; list at $70k implies a 441% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $70,350

Questions for the listing agent

1. Built in 1938 — 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: 1.69% ✓
• Cap rate: 13.98%
• Cash-on-cash: 27.46%
• DSCR: 2.22
• GRM: 4.9

CMA / ARV

• ARV (median comp): $129,808
• List price: $70,350
• Delta: -35.29%
• 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
4858 N 26th St	0.32mi	3/1.5 (+1)	972 (-0%)	1mo	$120,000	$123	77
4513 N 21st St	0.26mi	2/1.5	933 (-4%)	2mo	$145,000	$155	77
4825 N 25th St	0.26mi	3/1.0 (+1)	936 (-4%)	2mo	$188,000	$201	74
4946 N 26th St	0.44mi	3/1.0 (+1)	982 (+1%)	3mo	$164,000	$167	70
5045 N 25th St	0.55mi	2/1.0	912 (-6%)	2mo	$145,000	$159	62
4754 N 31st St	0.47mi	3/1.0 (+1)	1,027 (+5%)	5mo	$117,000	$114	60
5050 N Teutonia Ave	0.62mi	2/1.5	927 (-5%)	6mo	$125,000	$135	56
4951 N 24th Pl	0.43mi	3/1.0 (+1)	1,070 (+10%)	7mo	$165,000	$154	53
2709 W Villard Ave	0.73mi	2/1.0	1,059 (+9%)	0mo	$143,000	$135	51
5062 N 20th St	0.65mi	3/1.0 (+1)	1,082 (+11%)	1mo	$181,300	$168	46
5084 N 20th St	0.67mi	3/1.0 (+1)	1,082 (+11%)	6mo	$120,000	$111	40
5071 N 19th St	0.71mi	3/1.0 (+1)	1,082 (+11%)	8mo	$190,000	$176	36

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 27.1%
• Equity multiple: 2.20×
• Total profit: $23,592
• Equity at exit: $10,489

10-year hold

• IRR: 37.5%
• Equity multiple: 5.37×
• Total profit: $86,106
• Equity at exit: $6,083

Cash invested: $19,698 (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 53209

• Rents YoY: 8.6%
• Active inventory: 168
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,186 high
• Mortgage (P&I): −$369
• Tax est. 1.5%: −$88 /mo · $1,055/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $451

Break-even live

Break-even rent $615

Max offer price $70,350

Occupancy floor 57%

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: $17,588
• Closing costs: $2,110
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4355 N 28th St Milwaukee, WI	2.0	1.0	1118	$975	$0.87	21d	1	0.47mi
4227 N 26th St Milwaukee, WI	2.0	1.0	950	$1,000	$1.05	17d	1	0.61mi
5032 N 32nd St Milwaukee, WI	3.0	2.0	1089	$1,750	$1.61	12d	1	0.68mi
4651 N 36th St #4 Milwaukee, WI	2.0	1.0	747	$945	$1.27	23d	1	0.77mi
4572 N 38th St Unit 2 Milwaukee, WI	2.0	1.0	600	$950	$1.58	43d	1	0.87mi
4661 N 38th St Unit 4661 Milwaukee, WI	2.0	1.0	1000	$845	$0.84	14d	1	0.89mi
5237 N 34th St Unit 5237 Lower Milwaukee, WI	2.0	1.0	956	$1,350	$1.41	23d	1	0.97mi
3911 N 20th St Unit 3913 Milwaukee, WI	2.0	1.0	950	$995	$1.05	23d	1	0.99mi
3901 N 27th St Unit 3907 Milwaukee, WI	2.0	1.0	715	$895	$1.25	23d	1	1.01mi
3927-3929 N 17th St Milwaukee, WI	2.0	1.0	900	$1,195	$1.33	43d	1	1.08mi
3921 N 17th St Apt 3 Milwaukee, WI	1.0	1.0	650	$800	$1.23	43d	1	1.09mi
4702 N 44th St Milwaukee, WI	3.0	2.0	1050	$1,850	$1.76	43d	1	1.25mi
3871-3873 N 36th St Unit 3871 Milwaukee, WI	2.0	1.0	987	$950	$0.96	23d	1	1.27mi
3646 N 19th St Milwaukee, WI	2.0	1.0	935	$1,100	$1.18	4d	1	1.28mi
4479A N 44th St Milwaukee, WI	2.0	1.0	1000	$895	$0.90	43d	1	1.31mi
4703 N 45th St Milwaukee, WI	3.0	1.0	1031	$1,695	$1.64	23d	1	1.35mi
500 W Hampton Ave Milwaukee, WI	2.0	1.0	710	$1,165	$1.64	12d	1	1.38mi
5435 N 40th St Milwaukee, WI	2.0	1.0	850	$1,150	$1.35	17d	1	1.41mi
4727 N 46th St Milwaukee, WI	3.0	1.0	936	$1,700	$1.82	43d	1	1.41mi
3410 N 23rd St Milwaukee, WI	2.0	1.0	800	$800	$1.00	17d	1	1.42mi
3925 N 41st St Unit 2 Milwaukee, WI	1.0	1.0	700	$845	$1.21	23d	1	1.43mi
4048 N 7th St Milwaukee, WI	2.0	1.0	1100	$1,150	$1.05	23d	1	1.43mi
3630 W Nash St Milwaukee, WI	2.0	1.0	1000	$1,200	$1.20	23d	1	1.46mi
3925 N 42nd St Milwaukee, WI	2.0	1.0	985	$1,400	$1.42	23d	1	1.47mi
5165-5167 N 45th St Unit 5165 Milwaukee, WI	3.0	1.0	1020	$1,200	$1.18	17d	1	1.47mi
1135 W Atkinson Ave Unit 9 Milwaukee, WI	1.0	1.0	600	$700	$1.17	23d	1	1.48mi
1135 W Atkinson Ave Unit 8 Milwaukee, WI	1.0	1.0	600	$700	$1.17	43d	1	1.48mi
306 W Hampton Ave Milwaukee, WI	1.0	1.0	700	$1,200	$1.71	43d	1	1.49mi

Listing history 8 events

1. 2026-06-17
   pricestatusdays on marketlisting id $70,350 Active 1 DOM
2. 2026-04-13
   listed $84,000 Active 220-char remark

   Show marketing remark (220 chars)

   This is a tax foreclosed property. For the first 30-days of the listing period, no offers below the listing price will be considered per Wisconsin Foreclosure Law. Owner Occupants ONLY. BIDS DUE May 18th, 2026 AT 10:00am

3. 2013-02-02
   listed $90,000 325-char remark

   Show marketing remark (325 chars)

   This beautifully maintained cape cod home is waiting for your offer. This home offers 2+ bedrooms, 1 bath, new energy efficient windows, new water heater, and c/a unit, block security windows in basement, home security system, fenced yard, 2 car garage w/ EDO, and a home warranty. Very motivated seller. Make an offer today!

4. 2013-02-02
   historical 325-char remark

   Show marketing remark (325 chars)

   This beautifully maintained cape cod home is waiting for your offer. This home offers 2+ bedrooms, 1 bath, new energy efficient windows, new water heater, and c/a unit, block security windows in basement, home security system, fenced yard, 2 car garage w/ EDO, and a home warranty. Very motivated seller. Make an offer today!

5. 2013-01-28
   listed $14,900
6. 2013-01-28
   historical
7. 2012-03-27
   soldstatus $13,000
8. 1998-11-18
   soldstatus $31,500

ⓘ 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: $14,231
• − Mortgage interest: −$3,941
• − Property taxes: −$1,055
• − Insurance: −$352
• − Repairs & maintenance: −$1,139
• − Management: −$1,139
• − Depreciation: −$2,047
• Taxable income: $4,560
• Est. tax owed @ 24.0%: −$1,094
• After-tax cash flow: $4,314/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): 45,170
• Household income: $48,486
• Rent vs Own: 56.2% rent · 43.8% own
• Severe rent burden: 3390.0

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 (66%)
• Race & ethnicity: Black 66% White 22% Hispanic / Latino 5% Two or more races 5% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 3% Portuguese 1% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 4% Other Asian/Pacific 1% Russian/Polish/Slavic 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: ▼ -194.98%
• Current HPI: 172.4275
• Rent YoY: ▲ 8.61%
• 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

+166.7% since first listed

7 events — show timeline

• 2026-04-13 Listed $84,000 METROMLS
• 2013-02-02 Listing Removed — METROMLS
• 2013-02-02 Listed $90,000 METROMLS
• 2013-01-28 Listing Removed — METROMLS
• 2013-01-28 Listed $14,900 METROMLS
• 2012-03-27 Sold (MLS) $13,000 METROMLS
• 1998-11-18 Sold (Public Records) $31,500 Public Records

Property tax history

+7.9%/yr

Latest (2024): $5,631 · +66.9% YoY. Source: county tax records.