2172 S 18th St · Milwaukee, WI 53215

$135,000

4 bd · 1.5 ba · 1,431 sqft · SingleFamily public records · 6 Days on market

Built 1892 3,049 sqft lot Est $203k · 34% 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 +29.1/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• 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

Calling All Investors or Visionaries! Bring your imagination and creativity to this spacious 3-bedroom, 2-bathroom bungalow featuring hardwood floors and a brand-new roof (2025). With a full basement, there's plenty of room for storage or future finishing to expand your living space. This property is offered As-Is, with no repairs or warranties. Cash offers only.

Key facts

• Full basement
• Newly installed roof
• Hardwood floors

Tags

• HARDWOOD FLOORS
• NEWLY INSTALLED ROOF
• FULL BASEMENT

Property features AI

Finance

• Other: Sale type: Non-Arms Length; Inclusions: None; Exclusions: Seller's personal property

Exterior

• Utilities: Municipal water; Municipal sewer; Natural gas service
• Home design: 1.5-story single-family home; Less than 1/2 acre lot (about 0.07 acre); Zoning: RT4
• Construction: Aluminum/steel exterior; Year built source: Assessor/Public Record
• Exterior features: Aluminum siding

Interior

• Kitchen: Kitchen on main level approximately 16 x 11
• Bedrooms: Master bedroom (Main) approximately 15 x 9; Bedroom 2 (Main) approximately 10 x 9; Bedroom 3 (Upper) approximately 11 x 11
• Bathrooms: Two full baths; Tub only and shower-over-tub configurations
• Heating & cooling: Forced air heating (natural gas)
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $468 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Cap rate 10.4% 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); 57 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• This rent runs 38% of the median local income ($54k/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 $933 of loan paydown is wiped out by about $4k 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 $38k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 12y 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 $75k; list at $135k implies a 80% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1892 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $135,000

Questions for the listing agent

1. Built in 1892 — 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: 1.29% ✓
• Cap rate: 10.45%
• Cash-on-cash: 14.84%
• DSCR: 1.66
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $203,202
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2172 S 18th St	0.00mi	3/2.0 (-1)	1,431 (0%)	2mo	$206,000	$144	91
1831 W Becher St	0.12mi	4/2.0	1,396 (-2%)	4mo	$155,000	$111	85
1906 W Lincoln Ave	0.16mi	4/1.5	1,467 (+2%)	10mo	$100,140	$68	80
1831 W Rogers St	0.23mi	4/1.0	1,380 (-4%)	13mo	$140,000	$101	70
1437 W Arthur Ave	0.46mi	4/1.0	1,488 (+4%)	10mo	$70,100	$47	61
2363 S 11th St	0.51mi	3/1.5 (-1)	1,357 (-5%)	2mo	$225,000	$166	61
1722 S 15th St	0.52mi	4/1.5	1,474 (+3%)	12mo	$210,000	$142	61
2729 S 14th St	0.74mi	4/1.5	1,382 (-3%)	0mo	$220,000	$159	60
2122 S 24th St	0.43mi	5/3.0 (+1)	1,500 (+5%)	12mo	$240,000	$160	51
2503 W Becher St	0.53mi	3/1.0 (-1)	1,314 (-8%)	5mo	$111,500	$85	51
2714 S 15th St	0.70mi	4/2.0	1,362 (-5%)	8mo	$230,000	$169	50
2708 S 20th St	0.67mi	3/1.0 (-1)	1,269 (-11%)	3mo	$85,000	$67	40

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 · 5.02% rent growth · sell at horizon

5-year hold

• IRR: 7.6%
• Equity multiple: 1.30×
• Total profit: $11,523
• Equity at exit: $20,129

10-year hold

• IRR: 18.6%
• Equity multiple: 2.69×
• Total profit: $63,854
• Equity at exit: $11,672

Cash invested: $37,800 (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 53215

• Home prices YoY: -13.6%
• Rents YoY: 5.0%
• Active inventory: 57
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,740 high
• Mortgage (P&I): −$708
• Tax from tax record: −$143 /mo · $1,715/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $468

Break-even live

Break-even rent $1,148

Max offer price $135,000

Occupancy floor 68%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1812 S 7th St Milwaukee, WI	3.0	1.5	1703	$2,100	$1.23	23d	1	0.87mi
1143 S 25th St #1 Milwaukee, WI	3.0	1.0	900	$1,050	$1.17	43d	1	1.11mi
3174 S 22nd St Milwaukee, WI	3.0	2.0	1340	$1,850	$1.38	10d	1	1.31mi
2141 S Robinson Ave Milwaukee, WI	3.0	1.0–2.0	1006	$2,695	$2.68	1d	20	1.38mi
2445 S Austin St Milwaukee, WI	3.0	1.0	1000	$1,598	$1.60	14d	1	1.45mi

Listing history 14 events

1. 2026-05-26
   listed $135,000 Active
2. 2026-04-17
   soldstatus Sold
3. 2026-04-11
   listed $135,000 Active
4. 2025-11-26
   historical 365-char remark

   Show marketing remark (365 chars)

   Calling All Investors or Visionaries! Bring your imagination and creativity to this spacious 3-bedroom, 2-bathroom bungalow featuring hardwood floors and a brand-new roof (2025). With a full basement, there's plenty of room for storage or future finishing to expand your living space. This property is offered As-Is, with no repairs or warranties. Cash offers only.

5. 2025-10-25
   listed $149,900 Active 365-char remark

   Show marketing remark (365 chars)

   Calling All Investors or Visionaries! Bring your imagination and creativity to this spacious 3-bedroom, 2-bathroom bungalow featuring hardwood floors and a brand-new roof (2025). With a full basement, there's plenty of room for storage or future finishing to expand your living space. This property is offered As-Is, with no repairs or warranties. Cash offers only.

6. 2022-03-23
   soldstatus $75,000 Sold 765-char remark

   Show marketing remark (765 chars)

   4 bedroom, 2 bathroom bungalow with low maintenance aluminum exterior offers renovation opportunity. City of Milwaukee Tax Foreclosure Property. Open to owner occupants only through 03/17/2022. Scope of work is $34,750. Essential scope of work is $23,250. Many of the started repairs were completed without permits and permits will be needed. Pre-approval or proof of funds REQUIRED with all offers & must cover purchase price plus Essential Repairs (see scope). Buyer must complete Essential Repairs within 180 days & have City provide proof of completion for performance deposit return. Property is being sold in AS-Is Condition. City has Homebuyer Assistance program which provides up to $20,000 to assist w/ the rehab of City-owned foreclosed homes.

7. 2022-03-07
   status Pending 765-char remark

   Show marketing remark (765 chars)

   4 bedroom, 2 bathroom bungalow with low maintenance aluminum exterior offers renovation opportunity. City of Milwaukee Tax Foreclosure Property. Open to owner occupants only through 03/17/2022. Scope of work is $34,750. Essential scope of work is $23,250. Many of the started repairs were completed without permits and permits will be needed. Pre-approval or proof of funds REQUIRED with all offers & must cover purchase price plus Essential Repairs (see scope). Buyer must complete Essential Repairs within 180 days & have City provide proof of completion for performance deposit return. Property is being sold in AS-Is Condition. City has Homebuyer Assistance program which provides up to $20,000 to assist w/ the rehab of City-owned foreclosed homes.

8. 2022-02-15
   historical
9. 2022-02-14
   listed $62,000 Active 765-char remark

   Show marketing remark (765 chars)

   4 bedroom, 2 bathroom bungalow with low maintenance aluminum exterior offers renovation opportunity. City of Milwaukee Tax Foreclosure Property. Open to owner occupants only through 03/17/2022. Scope of work is $34,750. Essential scope of work is $23,250. Many of the started repairs were completed without permits and permits will be needed. Pre-approval or proof of funds REQUIRED with all offers & must cover purchase price plus Essential Repairs (see scope). Buyer must complete Essential Repairs within 180 days & have City provide proof of completion for performance deposit return. Property is being sold in AS-Is Condition. City has Homebuyer Assistance program which provides up to $20,000 to assist w/ the rehab of City-owned foreclosed homes.

10. 2022-01-05
    listed $62,000 Active
11. 2014-04-18
    listed $19,900
12. 2014-04-18
    historical
13. 2012-09-20
    soldstatus $18,000
14. 1999-01-06
    soldstatus $27,000

ⓘ 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: $1,715 · $143/mo
• Projected year-2 tax: $2,106 · $176/mo
• Expected delta: +$391/yr (+$33/mo · 22.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°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: $20,882
• − Mortgage interest: −$7,562
• − Property taxes: −$1,715
• − Insurance: −$675
• − Repairs & maintenance: −$1,671
• − Management: −$1,671
• − Depreciation: −$3,927
• Taxable income: $3,661
• Est. tax owed @ 24.0%: −$879
• After-tax cash flow: $4,732/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): 58,146
• Household income: $54,289
• Rent vs Own: 52.6% rent · 47.4% own
• Severe rent burden: 2283.0

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 (69%)
• Race & ethnicity: Hispanic / Latino 69% Two or more races 34% White 18% Asian 6% Black 5% Native American 2%
• Hispanic origin (detail): Mexican 52% Puerto Rican 12%
• Common ancestry: Romanian 6% Portuguese 1%
• Foreign-born: 31% · Canada, Philippines, Jamaica
• Languages at home: 35% English-only · Spanish 59% Other Asian/Pacific 3% Other Indo-European 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: ▼ -52.55%
• Current HPI: 332.891
• Rent YoY: ▲ 5.02%
• 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

+400.0% since first listed

14 events — show timeline

• 2026-05-26 Listed $135,000 METROMLS
• 2026-04-17 Sold (MLS) — METROMLS
• 2026-04-11 Listed $135,000 METROMLS
• 2025-11-26 Listing Removed — METROMLS
• 2025-10-25 Listed $149,900 METROMLS
• 2022-03-23 Sold (MLS) $75,000 METROMLS
• 2022-03-07 Pending — METROMLS
• 2022-02-15 Listing Removed — METROMLS
• 2022-02-14 Listed $62,000 METROMLS
• 2022-01-05 Listed $62,000 METROMLS
• 2014-04-18 Listing Removed — METROMLS
• 2014-04-18 Listed $19,900 METROMLS
• 2012-09-20 Sold (MLS) $18,000 METROMLS
• 1999-01-06 Sold (Public Records) $27,000 Public Records

Property tax history

-3.6%/yr

Latest (2024): $1,715 · -33.4% YoY. Source: county tax records.