4632 N 24th Pl · Milwaukee, WI 53209

$52,765

2 bd · 1.0 ba · 974 sqft · SingleFamily public records · 52 Days on market

Built 1938 Poor condition 4,791 sqft lot $54/sqft · 59% below area

---

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
• ARV discount +7.5/15.0
• Rent growth +4.7/5.0
• Livability +4.0/5.0
• Schools +3.6/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a tax foreclosed property. Owner Occupants ONLY.

Key facts

• 4,791 sq ft lot
• Built 1938
• Listed 51 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $53k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $620 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $53k).
• Recommended offer: $51k (3.0% below list) — sets the bar for market timing.
• Cap rate 20.4% vs local median 4.9% 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); 232 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 66d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 82% 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).
• This rent runs 31% of the median local income ($48k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $365 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 $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($51k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 13y ago; this cycle's ask has dropped $18k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $13k; list at $53k implies a 306% 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 $51,182 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1938 — 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 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: 2.36% ✓
• Cap rate: 20.38%
• Cash-on-cash: 50.32%
• DSCR: 3.24
• GRM: 3.5

CMA / ARV

• ARV (median comp): $129,808
• List price: $52,765
• 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%)	2mo	$120,000	$123	76
4513 N 21st St	0.26mi	2/1.5	933 (-4%)	4mo	$145,000	$155	76
4825 N 25th St	0.26mi	3/1.0 (+1)	936 (-4%)	4mo	$188,000	$201	73
4576 N 30th St	0.38mi	3/1.0 (+1)	945 (-3%)	0mo	$164,900	$174	72
4370 N 25th St	0.34mi	3/1.0 (+1)	932 (-4%)	1mo	$135,000	$145	71
4946 N 26th St	0.44mi	3/1.0 (+1)	982 (+1%)	5mo	$164,000	$167	69
4842 N 26th St	0.30mi	3/1.0 (+1)	1,080 (+11%)	1mo	$170,000	$157	62
5045 N 25th St	0.55mi	2/1.0	912 (-6%)	4mo	$145,000	$159	61
4754 N 31st St	0.47mi	3/1.0 (+1)	1,027 (+5%)	6mo	$117,000	$114	59
2924 W Roosevelt Dr	0.57mi	3/1.0 (+1)	1,034 (+6%)	2mo	$164,000	$159	57
2709 W Villard Ave	0.73mi	2/1.0	1,059 (+9%)	2mo	$143,000	$135	50
5062 N 20th St	0.65mi	3/1.0 (+1)	1,082 (+11%)	2mo	$181,300	$168	44

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: 53.7%
• Equity multiple: 3.54×
• Total profit: $37,514
• Equity at exit: $7,867

10-year hold

• IRR: 60.8%
• Equity multiple: 8.68×
• Total profit: $113,522
• Equity at exit: $4,562

Cash invested: $14,774 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 25 active · 21 under contract
• Months of supply: 5.0 mo (20%/mo absorbed)
• Median asking: $129,900 ($125/sqft)
• Median days on market: 30 d
• This list price: 4% of active listings are priced below it
• ARV vs active asking: +6.6% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 53209

• Rents YoY: 8.6%
• Active inventory: 232
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,246 high
• Mortgage (P&I): −$277
• Tax est. 1.5%: −$66 /mo · $791/yr
• Insurance: −$22
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $620

Break-even live

Break-even rent $462

Max offer price $52,765

Occupancy floor 45%

Sensitivity live

Price	-10% $656	-5% $638	+0% $620	+5% $601	+10% $583
Rent	-10% $521	-5% $570	+0% $620	+5% $669	+10% $718
Rate	-1.0pp $646	-0.5pp $633	base $620	+0.5pp $606	+1.0pp $592

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: $13,191
• Closing costs: $1,583
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4628 N 24th Pl Milwaukee, WI	3.0	1.0	920	$1,500	$1.63	25d	1	0.04mi
4355 N 28th St Milwaukee, WI	2.0	1.0	1118	$975	$0.87	70d	1	0.47mi
4252 N Teutonia Ave Apt 102 Milwaukee, WI	2.0	1.0	900	$1,338	$1.49	20d	1	0.54mi
4884 N 18th St Unit 4884 Lower Milwaukee, WI	3.0	1.0	892	$1,095	$1.23	47d	1	0.60mi
4227 N 26th St Milwaukee, WI	2.0	1.0	950	$1,000	$1.05	66d	1	0.61mi
5032 N 32nd St Milwaukee, WI	3.0	2.0	1089	$1,750	$1.61	61d	1	0.68mi
4378 N 17th St Milwaukee, WI	2.0	1.0	800	$990	$1.24	28d	1	0.68mi
4651 N 36th St #4 Milwaukee, WI	2.0	1.0	747	$945	$1.27	72d	1	0.77mi
4572 N 38th St Unit 2 Milwaukee, WI	2.0	1.0	600	$950	$1.58	93d	1	0.87mi
4661 N 38th St Unit 4661 Milwaukee, WI	2.0	1.0	1000	$845	$0.84	63d	1	0.89mi
3954 N 20th St Milwaukee, WI	2.0	1.0	1000	$1,400	$1.40	30d	1	0.94mi
5237 N 34th St Unit 5237 Lower Milwaukee, WI	2.0	1.0	956	$1,350	$1.41	72d	1	0.97mi
3911 N 20th St Unit 3913 Milwaukee, WI	2.0	1.0	950	$995	$1.05	72d	1	0.99mi
3901 N 27th St Unit 3907 Milwaukee, WI	2.0	1.0	715	$895	$1.25	72d	1	1.01mi
3927-3929 N 17th St Milwaukee, WI	2.0	1.0	900	$1,195	$1.33	93d	1	1.08mi
3921 N 17th St Apt 3 Milwaukee, WI	1.0	1.0	650	$800	$1.23	93d	1	1.09mi
4853 N 41st St Milwaukee, WI	3.0	1.0	1000	$1,495	$1.50	47d	1	1.10mi
5348-5350 N 35th St Unit 5348 Milwaukee, WI	2.0	1.0	981	$995	$1.01	17d	1	1.11mi
4207 N 39th St Unit 4207 Milwaukee, WI	2.0	1.0	825	$1,095	$1.33	34d	1	1.13mi
4619 N 42nd St Unit 4619A Upper Milwaukee, WI	2.0	1.0	950	$895	$0.94	36d	1	1.14mi
5376 N 35th St Milwaukee, WI	3.0	1.0	1000	$850	$0.85	30d	1	1.14mi
4702 N 44th St Milwaukee, WI	3.0	2.0	1050	$1,850	$1.76	93d	1	1.25mi
3871-3873 N 36th St Unit 3871 Milwaukee, WI	2.0	1.0	987	$950	$0.96	72d	1	1.27mi
3646 N 19th St Milwaukee, WI	2.0	1.0	935	$1,100	$1.18	53d	1	1.28mi
4479A N 44th St Milwaukee, WI	2.0	1.0	1000	$895	$0.90	93d	1	1.31mi
3822 N 36th St #3824 Milwaukee, WI	2.0	1.0	754	$875	$1.16	34d	1	1.31mi
4703 N 45th St Milwaukee, WI	3.0	1.0	1031	$1,595	$1.55	17d	1	1.35mi
500 W Hampton Ave Milwaukee, WI	2.0	1.0	710	$1,165	$1.64	61d	1	1.38mi
5435 N 40th St Milwaukee, WI	2.0	1.0	850	$1,150	$1.35	66d	1	1.41mi
4727 N 46th St Milwaukee, WI	3.0	1.0	936	$1,700	$1.82	93d	1	1.41mi
4759 N 46th St #4761 Milwaukee, WI	3.0	1.0	1000	$1,250	$1.25	25d	1	1.42mi
3410 N 23rd St Milwaukee, WI	2.0	1.0	800	$800	$1.00	66d	1	1.42mi
3925 N 41st St Unit 2 Milwaukee, WI	1.0	1.0	700	$845	$1.21	72d	1	1.43mi
4048 N 7th St Milwaukee, WI	2.0	1.0	1100	$1,150	$1.05	72d	1	1.43mi
3630 W Nash St Milwaukee, WI	2.0	1.0	1000	$1,200	$1.20	72d	1	1.46mi
3925 N 42nd St Milwaukee, WI	2.0	1.0	985	$1,400	$1.42	72d	1	1.47mi
5165-5167 N 45th St Unit 5165 Milwaukee, WI	3.0	1.0	1020	$1,200	$1.18	66d	1	1.47mi
1135 W Atkinson Ave Unit 8 Milwaukee, WI	1.0	1.0	600	$700	$1.17	93d	1	1.48mi
1135 W Atkinson Ave Apt 5 Milwaukee, WI	1.0	1.0	600	$700	$1.17	17d	1	1.48mi
1135 W Atkinson Ave Unit 9 Milwaukee, WI	1.0	1.0	600	$700	$1.17	72d	1	1.48mi

Property features AI

Exterior

• Utilities: Municipal waterMunicipal sewer
• Home design: Single-family, one-story homeZoned RS6
• Construction: Estimated living area between 751 and 1,000Year built: public/assessor record
• Exterior features: Brick or brick/stone exterior

Interior

• Kitchen: Kitchen on the main level, approx. 10 x 10
• Bedrooms: Master bedroom on the main level, approx. 10 x 10
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heatingNatural gas fuel
• Interior features: Full basement

Listing history 48 events

1. 2026-08-08
   days on market $52,765 Active 52 DOM
2. 2026-08-07
   days on market $52,765 Active 51 DOM
3. 2026-08-06
   days on market $52,765 Active 50 DOM
4. 2026-08-05
   days on market $52,765 Active 49 DOM
5. 2026-08-04
   days on market $52,765 Active 48 DOM
6. 2026-08-03
   pricedays on market $52,765 Active 47 DOM
7. 2026-07-31
   days on market $70,350 Active 44 DOM
8. 2026-07-30
   days on market $70,350 Active 43 DOM
9. 2026-07-30
   days on market $70,350 Active 42 DOM
10. 2026-07-28
    days on market $70,350 Active 41 DOM
11. 2026-07-26
    days on market $70,350 Active 39 DOM
12. 2026-07-24
    days on market $70,350 Active 37 DOM
13. 2026-07-23
    days on market $70,350 Active 36 DOM
14. 2026-07-22
    days on market $70,350 Active 35 DOM
15. 2026-07-21
    days on market $70,350 Active 34 DOM
16. 2026-07-20
    days on market $70,350 Active 33 DOM
17. 2026-07-18
    days on market $70,350 Active 31 DOM
18. 2026-07-18
    days on market $70,350 Active 30 DOM
19. 2026-07-16
    days on market $70,350 Active 29 DOM
20. 2026-07-15
    days on market $70,350 Active 28 DOM
21. 2026-07-14
    days on market $70,350 Active 27 DOM
22. 2026-07-13
    days on market $70,350 Active 26 DOM
23. 2026-07-13
    days on market $70,350 Active 25 DOM
24. 2026-07-11
    days on market $70,350 Active 24 DOM
25. 2026-07-10
    days on market $70,350 Active 23 DOM
26. 2026-07-09
    days on market $70,350 Active 22 DOM
27. 2026-07-07
    days on market $70,350 Active 20 DOM
28. 2026-07-06
    days on market $70,350 Active 19 DOM
29. 2026-07-05
    days on market $70,350 Active 18 DOM
30. 2026-07-03
    days on market $70,350 Active 16 DOM
31. 2026-07-02
    days on market $70,350 Active 15 DOM
32. 2026-07-01
    days on market $70,350 Active 14 DOM
33. 2026-06-30
    days on market $70,350 Active 13 DOM
34. 2026-06-29
    days on market $70,350 Active 12 DOM
35. 2026-06-28
    days on market $70,350 Active 11 DOM
36. 2026-06-27
    days on market $70,350 Active 10 DOM
37. 2026-06-27
    days on market $70,350 Active 9 DOM
38. 2026-06-25
    days on market $70,350 Active 7 DOM
39. 2026-06-22
    days on market $70,350 Active 5 DOM
40. 2026-06-21
    days on market $70,350 Active 4 DOM
41. 2026-06-17
    pricestatusdays on marketlisting id $70,350 Active 1 DOM
42. 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

43. 2013-02-02
    listed $90,000 325-char remark
44. 2013-02-02
    historical 325-char remark
45. 2013-01-28
    listed $14,900
46. 2013-01-28
    historical
47. 2012-03-27
    soldstatus $13,000
48. 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: $14,950
• − Mortgage interest: −$2,956
• − Property taxes: −$791
• − Insurance: −$264
• − Repairs & maintenance: −$1,196
• − Management: −$1,196
• − Depreciation: −$1,535
• Taxable income: $7,012
• Est. tax owed @ 24.0%: −$1,683
• After-tax cash flow: $5,752/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.

Condition & rehab AI · 2 photos

Poor 20/100 Extensive rehab Est. rehab $48,700–$87,660 screening

This tax foreclosed property requires extensive repairs, including a major roof replacement and exterior painting, to become move-in ready.

Components & finishes AI

Roof tile · aged

Deferred maintenance Est. $10,000–$30,000 screening

• Major Roof (roof) — Signs of significant wear and damage on the roof tiles

Repairs flagged

• Major roof — Severe damage to shingles
• Major exterior siding — Significant wear and peeling
• Major interior walls and paint — No visible condition

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Repair roof — Critical to home's structural integrity and value ↑

ⓘ Rehab cost is a screening estimate — Extensive scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 36/100

Zoned Schools

High King International F WI #138/483 Nat'l #9,405/17,239

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

A Composite livability gradescore 81/100

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 · 995,758 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: 8% of renters

---

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

Property features AI

Exterior

• Utilities: Municipal waterMunicipal sewer
• Home design: Single-family, one-story homeZoned RS6
• Construction: Estimated living area between 751 and 1,000Year built: public/assessor record
• Exterior features: Brick or brick/stone exterior

Interior

• Kitchen: Kitchen on the main level, approx. 10 x 10
• Bedrooms: Master bedroom on the main level, approx. 10 x 10
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heatingNatural gas fuel
• Interior features: Full basement

Price history

+123.3% since first listed

11 events — show timeline

• 2026-06-17 Listed $70,350 METROMLS
• 2026-06-11 Listing Removed — METROMLS
• 2026-06-10 Listed $70,350 METROMLS
• 2026-05-20 Listing Removed — METROMLS
• 2026-04-13 Listed $84,000 METROMLS
• 2013-02-02 Listing Removed — METROMLS
• 2013-02-02 Listed $90,000 METROMLS
• 2013-01-28 Listed $14,900 METROMLS
• 2013-01-28 Listing Removed — 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.