1956 S 16th St · Milwaukee, WI 53204

$159,000

4 bd · 1.0 ba · 1,120 sqft · SingleFamily public records · 198 Days on market

Built 1880 3,920 sqft lot $142/sqft · at area comps Est $159k · at est.

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Why this score? — see what drove the C+ 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 +20.6/30.0
• Appreciation +10.0/10.0
• ARV discount +7.4/15.0
• DSCR +6.5/10.0
• 1% rule +5.3/10.0
• Livability +4.0/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks MLS

4 bedrooms and two full baths. Newly remodeled home. Fenced in back yard at a convenient location. New hardwood floors, remodeled kitchen and bathrooms. Basement floor has been upgraded. ..

Key facts

• Remodeled kitchen
• New hardwood floors
• Fenced in back yard

Tags

• FENCED IN BACK YARD
• NEW HARDWOOD FLOORS
• REMODELED KITCHEN
• UPGRADED BASEMENT FLOOR

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $159k.

Deal economics

• At list price, monthly cash flow is $212 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $159k).
• Recommended offer: $140k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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 (+2.0%/yr); 55 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 43% of the median local income ($46k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k 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 + 2.0% rent growth), your $45k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 198 days — a 12% lower offer ($140k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y 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.
• Current owner paid $46k; list at $159k implies a 242% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $139,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 198 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1880 — 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: 1.03% ✓
• Cap rate: 7.89%
• Cash-on-cash: 5.70%
• DSCR: 1.25
• GRM: 8.1

CMA / ARV

• ARV (median comp): $158,693
• List price: $159,000
• Delta: 0.19%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2174 S 14th St	0.33mi	3/1.0 (-1)	1,092 (-2%)	6mo	$95,000	$87	70
1650 S 18th St	0.29mi	3/1.0 (-1)	1,174 (+5%)	6mo	$145,000	$124	68
1207 W Lapham Blvd	0.44mi	4/1.0	1,200 (+7%)	3mo	$170,000	$142	65
1640 S 18th St	0.31mi	3/2.0 (-1)	1,200 (+7%)	7mo	$162,500	$135	59
1603 S Union St	0.44mi	3/2.5 (-1)	1,056 (-6%)	3mo	$199,900	$189	56
1732 S 7th St	0.69mi	3/1.0 (-1)	1,068 (-5%)	5mo	$125,000	$117	51
602 W Maple St	0.73mi	3/2.0 (-1)	1,100 (-2%)	6mo	$150,000	$136	49
1530 S 10th St	0.64mi	3/1.0 (-1)	1,210 (+8%)	6mo	$125,000	$103	47
1544 S 25th St	0.73mi	3/1.0 (-1)	1,059 (-5%)	9mo	$140,000	$132	44
1521 S 12th St	0.54mi	4/1.0	1,288 (+15%)	9mo	$168,000	$130	43
2534 S 16th St	0.73mi	3/1.5 (-1)	1,200 (+7%)	11mo	$100,000	$83	38
1966 S 7th St	0.68mi	3/2.0 (-1)	1,259 (+12%)	7mo	$145,000	$115	33

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 · 2.0% rent growth · sell at horizon

5-year hold

• IRR: 28.0%
• Equity multiple: 3.21×
• Total profit: $98,451
• Equity at exit: $143,240

10-year hold

• IRR: 24.2%
• Equity multiple: 7.20×
• Total profit: $276,172
• Equity at exit: $308,902

Cash invested: $44,520 (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 53204

• Home prices YoY: 19.0%
• Rents YoY: 2.0%
• Active inventory: 55
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,642 medium
• Mortgage (P&I): −$834
• Tax from tax record: −$186 /mo · $2,231/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $212

Break-even live

Break-even rent $1,375

Max offer price $159,000

Occupancy floor 82%

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1926 S 20th St Milwaukee, WI	3.0	1.0	795	$1,200	$1.51	43d	1	0.25mi
1143 S 25th St #1 Milwaukee, WI	3.0	1.0	900	$1,050	$1.17	43d	1	0.94mi
2141 S Robinson Ave Milwaukee, WI	3.0	1.0–2.0	1006	$2,695	$2.68	1d	20	1.31mi
2445 S Austin St Milwaukee, WI	3.0	1.0	1000	$1,598	$1.60	14d	1	1.44mi

Listing history 26 events

1. 2026-06-18
   days on market $159,000 Active 198 DOM
2. 2026-06-17
   days on market $159,000 Active 197 DOM
3. 2026-06-16
   days on market $159,000 Active 196 DOM
4. 2026-06-15
   days on market $159,000 Active 195 DOM
5. 2026-06-13
   days on market $159,000 Active 193 DOM
6. 2026-06-13
   days on market $159,000 Active 192 DOM
7. 2026-06-09
   days on market $159,000 Active 189 DOM
8. 2026-06-08
   days on market $159,000 Active 188 DOM
9. 2026-06-07
   days on market $159,000 Active 187 DOM
10. 2026-06-05
    days on market $159,000 Active 184 DOM
11. 2026-06-03
    days on market $159,000 Active 183 DOM
12. 2026-06-02
    days on market $159,000 Active 182 DOM
13. 2026-06-01
    days on market $159,000 Active 181 DOM
14. 2026-05-31
    days on market $159,000 Active 180 DOM
15. 2025-12-01
    listed $159,000 Active 189-char remark

    Show marketing remark (189 chars)

    4 bedrooms and two full baths. Newly remodeled home. Fenced in back yard at a convenient location. New hardwood floors, remodeled kitchen and bathrooms. Basement floor has been upgraded. ..

16. 2023-03-08
    status Active 334-char remark

    Show marketing remark (334 chars)

    4 bedrooms and two full baths. Newly remodeled home. Fenced in back yard at a convenient location. New hardwood floors, remodeled kitchen and bathrooms. Basement floor has been upgraded. .. House will come with a UHP Home Warranty! Seller is open to a month to month renter for $1400 a month. Owner has applied for a driveway permit.

17. 2023-03-08
    historical 334-char remark

    Show marketing remark (334 chars)

    4 bedrooms and two full baths. Newly remodeled home. Fenced in back yard at a convenient location. New hardwood floors, remodeled kitchen and bathrooms. Basement floor has been upgraded. .. House will come with a UHP Home Warranty! Seller is open to a month to month renter for $1400 a month. Owner has applied for a driveway permit.

18. 2023-03-07
    status Pending 334-char remark

    Show marketing remark (334 chars)

    4 bedrooms and two full baths. Newly remodeled home. Fenced in back yard at a convenient location. New hardwood floors, remodeled kitchen and bathrooms. Basement floor has been upgraded. .. House will come with a UHP Home Warranty! Seller is open to a month to month renter for $1400 a month. Owner has applied for a driveway permit.

19. 2023-01-18
    price $119,000 334-char remark

    Show marketing remark (334 chars)

    4 bedrooms and two full baths. Newly remodeled home. Fenced in back yard at a convenient location. New hardwood floors, remodeled kitchen and bathrooms. Basement floor has been upgraded. .. House will come with a UHP Home Warranty! Seller is open to a month to month renter for $1400 a month. Owner has applied for a driveway permit.

20. 2023-01-12
    listed $139,000 Active 334-char remark

    Show marketing remark (334 chars)

    4 bedrooms and two full baths. Newly remodeled home. Fenced in back yard at a convenient location. New hardwood floors, remodeled kitchen and bathrooms. Basement floor has been upgraded. .. House will come with a UHP Home Warranty! Seller is open to a month to month renter for $1400 a month. Owner has applied for a driveway permit.

21. 2022-12-02
    historical
22. 2022-11-07
    listed $139,000 Active
23. 2022-09-15
    soldstatus $46,500
24. 2022-09-12
    soldstatus $46,500 Sold
25. 2022-08-25
    status Pending
26. 2022-08-02
    listed $46,000 Active

ⓘ 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: $2,231 · $186/mo
• Projected year-2 tax: $2,586 · $216/mo
• Expected delta: +$355/yr (+$30/mo · 15.9%)

ⓘ 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 ≥96°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,709
• − Mortgage interest: −$8,906
• − Property taxes: −$2,231
• − Insurance: −$795
• − Repairs & maintenance: −$1,577
• − Management: −$1,577
• − Depreciation: −$4,625
• Taxable loss: −$2
• Est. tax savings @ 24.0%: +$0
• After-tax cash flow: $2,539/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): 39,996
• Household income: $45,934
• Rent vs Own: 73.8% rent · 26.2% own
• Severe rent burden: 2357.0

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 Hispanic (68%)
• Race & ethnicity: Hispanic / Latino 68% Two or more races 35% White 15% Black 11% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 51% Puerto Rican 13%
• Common ancestry: Romanian 3% Portuguese 1% Lithuanian 1%
• Foreign-born: 28% · Canada
• Languages at home: 35% English-only · Spanish 61% Other Asian/Pacific 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: ▲ 64.27%
• Current HPI: 403.236
• Rent YoY: ▲ 2.00%
• 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

+245.7% since first listed

12 events — show timeline

• 2025-12-01 Listed $159,000 METROMLS
• 2023-03-08 Relisted — METROMLS
• 2023-03-08 Listing Removed — METROMLS
• 2023-03-07 Pending — METROMLS
• 2023-01-18 Price Changed $119,000 METROMLS
• 2023-01-12 Listed $139,000 METROMLS
• 2022-12-02 Listing Removed — METROMLS
• 2022-11-07 Listed $139,000 METROMLS
• 2022-09-15 Sold (Public Records) $46,500 Public Records
• 2022-09-12 Sold (MLS) $46,500 METROMLS
• 2022-08-25 Pending — METROMLS
• 2022-08-02 Listed $46,000 METROMLS

Property tax history

+5.2%/yr

Latest (2024): $2,231 · +24.6% YoY. Source: county tax records.