3259 N 27th St · Milwaukee, WI 53216

$10,000

4 bd · 2.0 ba · 1,999 sqft · MultiFamily public records · 103 Days on market

Built 1918 0.90 ac lot $5/sqft · 89% below area

---

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 +15.0/30.0
• ARV discount +7.5/15.0
• Appreciation +5.7/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.3/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

City Tax Foreclosure - 2/2BR Duplex w/ over 1,999 square feet and more. City Scope of Essential Work is $94,200. Total scope of work is $112,000. Room and lot sizes are estimates & all information should be verified. Property being sold in 'as-is' condition. Bring flashlights & use caution when entering. Note: Owner-Occupant offers only at this time.

Key facts

• 0.9 acre lot
• 2 garage spots
• Built 1918

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $10k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $823/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $10k).
• Recommended offer: $9k (9.0% below list) — sets the bar for market timing.
• Cap rate 203.7% 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 (+7.0%/yr); 126 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $2,170/mo this rent would consume 56% of the median local household income ($47k/yr) (locally 2202% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $202 of equity ($69 loan paydown + $133 appreciation (1.3% local appreciation)).
• Milwaukee County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (1.3% appreciation + 7.0% rent growth), your $3k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 103 days — a 9% lower offer ($9k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 14y ago; this cycle's ask has dropped $14k (58%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $3k; list at $10k implies a 217% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $9,100 (9.0% below list)

Questions for the listing agent

1. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1918 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 21.70% ✓
• Cap rate: 203.72%
• Cash-on-cash: 705.08%
• DSCR: 32.37
• GRM: 0.4

CMA / ARV

• ARV (median comp): $88,599
• List price: $10,000
• Delta: -88.71%
• 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
2020 W Hopkins St	0.51mi	4/2.0	2,050 (+3%)	0mo	$105,000	$51	72
3202 N 24th St #3204	0.29mi	4/2.0	2,169 (+8%)	2mo	$165,000	$76	70
2022 W Keefe Ave Unit 2022A	0.57mi	4/2.0	1,914 (-4%)	1mo	$55,000	$29	66
3068 N 34th St Unit 3068A	0.49mi	5/2.0 (+1)	2,087 (+4%)	0mo	$110,000	$53	65
3607 N 20th St	0.63mi	4/2.0	2,046 (+2%)	2mo	$115,000	$56	65
2450 W Keefe Ave #2452	0.36mi	3/2.0 (-1)	1,831 (-8%)	1mo	$35,000	$19	63
2972 N 28th St	0.36mi	4/2.0	1,757 (-12%)	0mo	$141,806	$81	63
2847 N 26th St	0.52mi	4/2.0	1,863 (-7%)	2mo	$70,000	$38	62
3148 N 39th St #3150	0.73mi	4/2.0	2,044 (+2%)	2mo	$128,888	$63	60
3382 N 23rd St #3384	0.38mi	4/2.0	2,266 (+13%)	0mo	$152,435	$67	60
3166 N 39th St #3168	0.73mi	4/2.0	2,064 (+3%)	2mo	$145,000	$70	59
2873 N 34th St #2875	0.66mi	4/2.0	1,888 (-6%)	1mo	$108,500	$57	59

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.33% appreciation · 7.01% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 41.81×
• Total profit: $114,273
• Equity at exit: $3,586

10-year hold

• IRR: —
• Equity multiple: 100.02×
• Total profit: $277,244
• Equity at exit: $4,901

Cash invested: $2,800 (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 53216

• Home prices YoY: 0.3%
• Rents YoY: 7.0%
• Active inventory: 126
• Price-to-rent: 0.8×

Monthly cashflow live

• Estimated rent: $2,170 high
• Mortgage (P&I): −$52
• Tax est. 1.5%: −$12 /mo · $150/yr
• Insurance: −$4
• HOA: −$0
• Vacancy / Maint / Mgmt: −$456
• Net cashflow: $1,645

Break-even live

Break-even rent $87

Max offer price $10,000

Occupancy floor 19%

Sensitivity live

Price	-10% $1,652	-5% $1,649	+0% $1,645	+5% $1,642	+10% $1,638
Rent	-10% $1,474	-5% $1,559	+0% $1,645	+5% $1,731	+10% $1,817
Rate	-1.0pp $1,650	-0.5pp $1,648	base $1,645	+0.5pp $1,643	+1.0pp $1,640

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,170
Total (2 units)			$2,170

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: $2,500
• Closing costs: $300
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2704 W Concordia Ave Unit Na Milwaukee, WI	5.0	2.0	1856	$2,500	$1.35	24d	1	0.10mi
2870 N 29th St #2872 Milwaukee, WI	3.0	1.0	1300	$1,250	$0.96	44d	1	0.47mi
2106A W Keefe Ave Unit 2106 Lower Milwaukee, WI	3.0	1.0	1300	$1,100	$0.85	17d	1	0.57mi
2809 W Clarke St Unit 12811 Milwaukee, WI	3.0	1.0	1400	$1,200	$0.86	17d	1	0.84mi
2308 W Clarke St Milwaukee, WI	4.0	2.0	1545	$1,750	$1.13	24d	1	0.88mi
3122 N 42nd St Milwaukee, WI	3.0	1.0	1323	$1,495	$1.13	5d	1	0.89mi
3123 N 42nd St Milwaukee, WI	4.0	1.0	1500	$1,700	$1.13	24d	1	0.92mi
2432 N 28th St Milwaukee, WI	5.0	1.5	1876	$1,600	$0.85	44d	1	1.02mi
2116 W Atkinson Ave Unit A Milwaukee, WI	4.0	1.0	1707	$2,000	$1.17	2d	1	1.06mi
3925 N 42nd St Milwaukee, WI	3.0	1.0	1300	$1,675	$1.29	44d	1	1.15mi
2713 N 44th St Milwaukee, WI	3.0	1.0	1450	$1,350	$0.93	44d	1	1.26mi
2976 N 49th St Milwaukee, WI	3.0	1.0	1700	$1,300	$0.76	17d	1	1.38mi

Listing history 35 events

1. 2026-06-18
   days on market $10,000 Active 103 DOM
2. 2026-06-17
   days on market $10,000 Active 102 DOM
3. 2026-06-16
   days on market $10,000 Active 101 DOM
4. 2026-06-15
   days on market $10,000 Active 100 DOM
5. 2026-06-13
   days on market $10,000 Active 98 DOM
6. 2026-06-13
   days on market $10,000 Active 97 DOM
7. 2026-06-10
   price $10,000 Active 94 DOM
8. 2026-06-09
   days on market $23,550 Active 94 DOM
9. 2026-06-08
   days on market $23,550 Active 93 DOM
10. 2026-06-07
    days on market $23,550 Active 92 DOM
11. 2026-06-05
    days on market $23,550 Active 89 DOM
12. 2026-06-03
    days on market $23,550 Active 88 DOM
13. 2026-06-02
    days on market $23,550 Active 87 DOM
14. 2026-06-01
    days on market $23,550 Active 86 DOM
15. 2026-05-31
    days on market $23,550 Active 85 DOM
16. 2026-03-06
    listed $23,550 Active 364-char remark

    Show marketing remark (364 chars)

    City Tax Foreclosure - 2/2BR Duplex w/ over 1,999 square feet and more. City Scope of Essential Work is $94,200. Total scope of work is $112,000. Room and lot sizes are estimates & all information should be verified. Property being sold in 'as-is' condition. Bring flashlights & use caution when entering. Note: Owner-Occupant offers only at this time.

17. 2026-02-17
    status Pending 239-char remark

    Show marketing remark (239 chars)

    This is a tax foreclosed property. BIDS DUE TUESDAY 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.

18. 2026-02-17
    historical 239-char remark

    Show marketing remark (239 chars)

    This is a tax foreclosed property. BIDS DUE TUESDAY 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.

19. 2026-01-12
    listed $31,400 Active 239-char remark

    Show marketing remark (239 chars)

    This is a tax foreclosed property. BIDS DUE TUESDAY 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.

20. 2019-11-01
    historical
21. 2019-07-31
    listed $6,200 Active
22. 2017-08-24
    soldstatus $3,150 Sold
23. 2017-08-16
    status Active
24. 2017-04-19
    historical Contingent
25. 2016-12-05
    listed $6,200 Active
26. 2013-05-09
    historical
27. 2013-05-09
    listed $85,000
28. 2012-01-21
    historical
29. 2012-01-21
    listed $19,900
30. 2012-01-21
    historical
31. 2012-01-21
    listed $36,000
32. 2009-11-11
    soldstatus $10,000
33. 2005-02-22
    soldstatus $30,000
34. 2005-01-26
    soldstatus $74,000
35. 1975-08-01
    soldstatus $18,500

ⓘ 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: $26,040
• − Mortgage interest: −$560
• − Property taxes: −$150
• − Insurance: −$50
• − Repairs & maintenance: −$2,083
• − Management: −$2,083
• − Depreciation: −$291
• Taxable income: $20,823
• Est. tax owed @ 24.0%: −$4,997
• After-tax cash flow: $14,745/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): 30,345
• Household income: $46,752
• Rent vs Own: 52.7% rent · 47.3% own
• Severe rent burden: 2202.0

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 (81%)
• Race & ethnicity: Black 81% White 9% Hispanic / Latino 5% Two or more races 5% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 1%
• Foreign-born: 3% · Canada, Philippines, China
• Languages at home: 93% English-only · Spanish 4% Other Asian/Pacific 2%

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: ▲ 1.33%
• Current HPI: 381.0954
• Rent YoY: ▲ 7.01%
• 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

+27.3% since first listed

20 events — show timeline

• 2026-03-06 Listed $23,550 METROMLS
• 2026-02-17 Pending — METROMLS
• 2026-02-17 Listing Removed — METROMLS
• 2026-01-12 Listed $31,400 METROMLS
• 2019-11-01 Listing Removed — METROMLS
• 2019-07-31 Listed $6,200 METROMLS
• 2017-08-24 Sold (MLS) $3,150 METROMLS
• 2017-08-16 Relisted — METROMLS
• 2017-04-19 Contingent — METROMLS
• 2016-12-05 Listed $6,200 METROMLS
• 2013-05-09 Listed $85,000 METROMLS
• 2013-05-09 Listing Removed — METROMLS
• 2012-01-21 Listed $19,900 METROMLS
• 2012-01-21 Listing Removed — METROMLS
• 2012-01-21 Listed $36,000 METROMLS
• 2012-01-21 Listing Removed — METROMLS
• 2009-11-11 Sold (MLS) $10,000 METROMLS
• 2005-02-22 Sold (Public Records) $30,000 Public Records
• 2005-01-26 Sold (Public Records) $74,000 Public Records
• 1975-08-01 Sold (Public Records) $18,500 Public Records

Property tax history

-12.1%/yr

Latest (2024): $633 · -78.8% YoY. Source: county tax records.