9500 N Green Bay Rd #105 · Brown Deer, WI 53209

$69,900

1 bd · 1.0 ba · 762 sqft · Condo · 2 Days on market

Built 1966 $578/mo HOA · 44% of rent

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Why this score? — see what drove the D+ 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 +11.7/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.7/5.0
• Livability +4.0/5.0
• DSCR +3.4/10.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

PERFECT to owner occupy OR add to your rental portfolio! LARGEST 1-bedroom FLOORPLAN in the complex! HIGHLY DESIRABLE FIRST FLOOR UNIT! ASSIGNED GARAGE PARKING SPOT & SURFACE PARKING SPOT INCLUDED! Tons of amenities including IN-GROUND POOL, ON-SITE LAUNDRY & private storage unit! BUDGET-FRIENDLY with both HEAT & WATER included in monthly condo dues! Primary bedroom features a large walk-in closet! Ample storage space, and updated flooring throughout! ALL APPLIANCES INCLUDED! 1-year home warranty included for peace of mind! Owner-occupied & maintained for the past 30 years! WELCOME HOME!

Key facts

• In-ground pool
• Private storage unit
• Updated flooring

Tags

• IN-GROUND POOL
• ON-SITE LAUNDRY
• PRIVATE STORAGE UNIT
• UPDATED FLOORING
• ALL APPLIANCES INCLUDED

Property features AI

Finance

• Other: Property taxes available (not included per instructions)
• HOA & community: Monthly condo fee approximately $578; Amenities include elevator, pool (outdoor), playground and laundry facilities; Part of a community with multiple buildings: 30 units in this building, 146 units in association

Exterior

• Parking: Assigned surface parking space (1); Attached underground garage parking with opener (1-car)
• Utilities: Municipal water; Municipal sewer; Electric power (implied); Building-level utilities for multi-unit
• Home design: Condo unit in a 1-story layout
• Construction: Brick/stone construction; No finished below-grade space
• Exterior features: Brick and brick/stone exterior; Midrise building (3–5 stories); Subdivision: Cherrywood Village; Zoned residential

Interior

• Kitchen: Range; Refrigerator; Kitchen appliances included
• Bedrooms: Main-level primary bedroom, approximately 16 x 10
• Flooring: Wood or wood-look flooring
• Bathrooms: One full bath with tub and shower-over-tub
• Heating & cooling: Radiant/hot water heat; Wall/sleeve air conditioning; Multiple heating units
• Interior features: Cable/satellite available; High-speed internet available; Storage locker; Walk-in closet; Wood or wood-look floors
• Laundry & utility: Building laundry facilities

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $70k.

Deal economics

• At list price, monthly cash flow is $-21 ($-251/yr) — negative.
• To cash-flow at today's rent, offer at most $66k (5.3% below list).
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $66k (5.3% below list) — sets the bar for cash-flow.
• Cap rate 5.9% vs local median 4.3% in Brown Deer — 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 80/100 on livability (#60 in WI, #1,658 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D+, crime D, amenities F.
• Brown Deer School District (suburban): math 19% / reading 26% proficiency, ranked #317 of 342 in WI (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+8.6%/yr); 168 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• This rent runs 33% 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 $483 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 ~9 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: HOA is 44% of rent.

Recommended offer $66,209 (5.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is D 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.89% ✓
• Cap rate: 5.93%
• Cash-on-cash: -1.28%
• DSCR: 0.94
• GRM: 4.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -6.6%
• Equity multiple: 0.73×
• Total profit: $-5,284
• Equity at exit: $10,422

10-year hold

• IRR: 12.1%
• Equity multiple: 2.38×
• Total profit: $27,058
• Equity at exit: $6,044

Cash invested: $19,572 (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: 4.4×

Monthly cashflow live

• Estimated rent: $1,324 high
• Mortgage (P&I): −$367
• Tax from tax record: −$93 /mo · $1,114/yr
• Insurance: −$29
• HOA: −$578
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $-21

Break-even live

Break-even rent $1,350

Max offer price $66,209

Occupancy floor 97%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4201 W Hawthorne Trace Rd Brown Deer, WI	1.0–2.0	1.0–2.0	889	$1,294	$1.46	1d	13	0.14mi
4401 W Deer Run Dr Brown Deer, WI	1.0–3.0	1.0–2.0	995	$1,395	$1.40	1d	10	0.14mi
8925 N Deerwood Dr Brown Deer, WI	3.0	1.0–2.0	1067	$1,882	$1.76	1d	17	0.71mi
8725 N 43rd St Milwaukee, WI	1.0–3.0	1.0–3.0	1189	$1,415	$1.19	1d	12	0.95mi
8600 N Deerwood Dr Brown Deer, WI	2.0	1.0–2.0	916	$1,681	$1.84	43d	12	1.02mi
8600 N Deerwood Dr Brown Deer, WI	1.0–2.0	1.0–2.0	946	$1,386	$1.47	1d	15	1.02mi

HOA detail condo

• Monthly dues: $578 · $6,936/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-06-18
   days on market $69,900 Active 2 DOM
2. 2026-06-16
   remarks 602-char remark
3. 2026-06-16
   listed $69,900 Active 1 DOM

ⓘ 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: $1,114 · $93/mo
• Projected year-2 tax: $1,203 · $100/mo
• Expected delta: +$90/yr (+$7/mo · 8.0%)

ⓘ 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 ≥98°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,883
• − Mortgage interest: −$3,915
• − Property taxes: −$1,114
• − Insurance: −$350
• − Repairs & maintenance: −$1,271
• − Management: −$1,271
• − HOA: −$6,936
• − Depreciation: −$2,033
• Taxable loss: −$1,007
• Est. tax savings @ 24.0%: +$242
• After-tax cash flow: $-9/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: Brown Deer School District
• NCES district ID: 5501800
• Math proficiency: 19% ▼ -19.00%
• Reading proficiency: 26% ▼ -9.00%
• Median HH income: $57,375
• Composite: 20.67/100
• National rank: #8534
• State rank: #317 of 342 in WI

Livability — Brown Deer

• Score: 80/100
• State rank: #60
• US rank: #1658

Category grades

Amenities F Commute A+ Cost of living A+ Crime D Employment A- Housing A+ Health & safety A+ User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Brown Deer, WI
• County: Milwaukee County · 926,379 people
• 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

1 event — show timeline

• 2026-06-16 Listed $69,900 METROMLS

Property tax history

-0.6%/yr

Latest (2024): $1,114 · +66.2% YoY. Source: county tax records.