5201 N 84th St · Milwaukee, WI 53225

$30,000

3 bd · 1.5 ba · 937 sqft · Condo public records · 19 Days on market

Built 1962 $160/mo HOA · 12% of rent ↓ 14% since listing

---

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 +15.0/30.0
• ARV discount +7.5/15.0
• 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
• Appreciation +0.0/10.0

Listing remarks MLS

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 will be prioritized. BIDS DUE FEBRUARY 16, 2026 AT 10:00am

Key facts

• $160 HOA
• Built 1962
• Listed 19 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $30k.

Deal economics

• At list price, monthly cash flow is $647 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Recommended offer: $30k (1.5% below list) — sets the bar for market timing.
• Cap rate 32.2% 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 (+7.1%/yr); 45 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $207 of loan paydown is wiped out by about $900 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 + 7.1% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($30k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y 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.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price.

Recommended offer $29,550 (1.5% below list)

Questions for the listing agent

1. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 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?
7. 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?
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: 4.45% ✓
• Cap rate: 32.16%
• Cash-on-cash: 92.39%
• DSCR: 5.11
• GRM: 1.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 7.14% rent growth · sell at horizon

5-year hold

• IRR: 99.0%
• Equity multiple: 6.03×
• Total profit: $42,260
• Equity at exit: $4,473

10-year hold

• IRR: —
• Equity multiple: 14.84×
• Total profit: $116,295
• Equity at exit: $2,594

Cash invested: $8,400 (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 53225

• Home prices YoY: -21.1%
• Rents YoY: 7.1%
• Active inventory: 45
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,334 high
• Mortgage (P&I): −$157
• Tax from tax record: −$78 /mo · $931/yr
• Insurance: −$12
• HOA: −$160
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $647

Break-even live

Break-even rent $516

Max offer price $30,000

Occupancy floor 47%

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7632 W Leon Ter Unit C Milwaukee, WI	2.0	1.5	1000	$1,200	$1.20	23d	1	0.56mi
7348 W Medford Ave Unit 7348A Milwaukee, WI	2.0	1.0	1095	$950	$0.87	23d	1	0.62mi
7701 W Hampton Ave Unit 6 Milwaukee, WI	2.0	1.0	816	$1,250	$1.53	43d	1	0.64mi
8037 W Thurston Ave Milwaukee, WI	3.0	1.0	1040	$1,600	$1.54	43d	1	0.68mi
8023 W Thurston Ave Unit 2 Milwaukee, WI	2.0	1.0	850	$850	$1.00	43d	1	0.68mi
8043 W Appleton Ave Milwaukee, WI	2.0	1.0	900	$1,200	$1.33	14d	1	0.77mi
4843 N 72nd St Milwaukee, WI	3.0	1.0	1014	$1,485	$1.46	43d	1	0.81mi
5908 N 80th St Milwaukee, WI	3.0	1.0	1056	$1,550	$1.47	23d	1	0.96mi
5721 N 94th St Milwaukee, WI	2.0	1.0	1050	$1,175	$1.12	14d	2	0.98mi
5812 N 93rd St Unit 5812 Milwaukee, WI	3.0	1.0	995	$1,200	$1.21	16d	1	1.00mi
5955 N 79th St Unit 1 Milwaukee, WI	3.0	1.0	1100	$1,650	$1.50	43d	1	1.03mi
4278 N 84th St Unit 1 Milwaukee, WI	2.0	1.0	750	$995	$1.33	23d	1	1.17mi
4315 N 90th St Unit 4 Milwaukee, WI	2.0	1.0	750	$995	$1.33	12d	1	1.23mi
6518 W Hampton Ave Unit 2 Milwaukee, WI	2.0	1.0	1100	$1,200	$1.09	43d	1	1.25mi
4309 N 91st St Unit Upper Milwaukee, WI	3.0	1.0	1100	$1,395	$1.27	43d	1	1.27mi
4272 N 91st St #4274 Milwaukee, WI	3.0	1.5	1100	$1,495	$1.36	43d	1	1.28mi
9800 W Menomonee Park Ct Milwaukee, WI	2.0	1.5	850	$970	$1.14	4d	1	1.33mi
4141 N 84th St Unit 4141 Milwaukee, WI	2.0	1.0	950	$1,300	$1.37	43d	1	1.34mi
10431 W Rohr Ave Milwaukee, WI	3.0	1.0	1010	$2,000	$1.98	3d	1	1.37mi
5950 N 69th St Unit 1 Milwaukee, WI	2.0	1.0	1100	$1,100	$1.00	43d	1	1.37mi
4812 N 104th St Apt 4 Milwaukee, WI	2.0	1.5	1000	$1,285	$1.28	43d	1	1.38mi
5659 N 64th St Unit 5659A Milwaukee, WI	2.0	1.0	1091	$1,300	$1.19	43d	1	1.38mi
4175 N 91st St Milwaukee, WI	2.0	1.0	855	$1,099	$1.29	43d	1	1.40mi
5823 N 65th St Unit Upper Milwaukee, WI	2.0	1.0	768	$1,295	$1.69	43d	1	1.43mi
5831 N 65th St Unit 5831 Milwaukee, WI	3.0	1.0	900	$1,195	$1.33	43d	1	1.44mi
5905 N 66th St Unit 66th Lower Milwaukee, WI	3.0	1.0	1000	$1,600	$1.60	16d	1	1.44mi
4052 N 85th St Milwaukee, WI	3.0	1.0	1113	$1,500	$1.35	4d	1	1.45mi
5820 N 65th St #5822 Milwaukee, WI	2.0	1.0	700	$1,245	$1.78	43d	1	1.45mi
5956 N 67th St Milwaukee, WI	2.0	1.0	925	$1,250	$1.35	43d	1	1.47mi
5958 N 67th St Milwaukee, WI	2.0	1.0	925	$1,250	$1.35	4d	1	1.47mi

HOA detail condo

• Monthly dues: $160 · $1,920/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-03-25
   status Pending
2. 2026-03-06
   listed $30,000 Active
3. 2026-02-17
   status Pending 238-char remark

   Show marketing remark (238 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 will be prioritized. BIDS DUE FEBRUARY 16, 2026 AT 10:00am

4. 2026-02-17
   historical 238-char remark

   Show marketing remark (238 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 will be prioritized. BIDS DUE FEBRUARY 16, 2026 AT 10:00am

5. 2026-02-13
   price $44,400 238-char remark

   Show marketing remark (238 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 will be prioritized. BIDS DUE FEBRUARY 16, 2026 AT 10:00am

6. 2026-01-13
   listed $66,200 Active 238-char remark

   Show marketing remark (238 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 will be prioritized. BIDS DUE FEBRUARY 16, 2026 AT 10:00am

7. 2020-07-24
   soldstatus $36,000
8. 2015-01-01
   historical 259-char remark

   Show marketing remark (259 chars)

   RARE CORNER UNIT; TOWNHOUSE STYLE CONDO; FULL BASEMENT WITH NICE REC ROOM IN LOWER LEVEL; MOVE-IN CONDITION; NEW CARPETING; APPLIANCES INCLUDED; 3 BEDROOMS AND 1.5 BATHS; PATIO AND PRIVACY FENCE; ONE ASSSIGNED PARKING SPACE; ADDITIONAL PARKING SPACE AVAILABLE

9. 2014-09-05
   listed $32,000 Active 259-char remark

   Show marketing remark (259 chars)

   RARE CORNER UNIT; TOWNHOUSE STYLE CONDO; FULL BASEMENT WITH NICE REC ROOM IN LOWER LEVEL; MOVE-IN CONDITION; NEW CARPETING; APPLIANCES INCLUDED; 3 BEDROOMS AND 1.5 BATHS; PATIO AND PRIVACY FENCE; ONE ASSSIGNED PARKING SPACE; ADDITIONAL PARKING SPACE AVAILABLE

10. 2013-09-20
    historical
11. 2013-09-20
    listed $14,000
12. 2013-04-08
    soldstatus $17,100
13. 1992-06-01
    soldstatus $36,500
14. 1987-03-01
    soldstatus $34,900

ⓘ 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: $931 · $78/mo
• Projected year-2 tax: $931 · $78/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥101°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,012
• − Mortgage interest: −$1,680
• − Property taxes: −$931
• − Insurance: −$150
• − Repairs & maintenance: −$1,281
• − Management: −$1,281
• − HOA: −$1,920
• − Depreciation: −$873
• Taxable income: $7,896
• Est. tax owed @ 24.0%: −$1,895
• After-tax cash flow: $5,865/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): 25,187
• Household income: $56,545
• Rent vs Own: 60.1% rent · 39.9% own
• Severe rent burden: 1391.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: Black 58% White 26% Two or more races 7% Asian 6% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 2% Lithuanian 2% Iranian 1%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 89% English-only · Other Asian/Pacific 4% Spanish 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: ▼ -70.59%
• Current HPI: 264.1941
• Rent YoY: ▲ 7.14%
• 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

-14.0% since first listed

14 events — show timeline

• 2026-03-25 Pending — METROMLS
• 2026-03-06 Listed $30,000 METROMLS
• 2026-02-17 Pending — METROMLS
• 2026-02-17 Listing Removed — METROMLS
• 2026-02-13 Price Changed $44,400 METROMLS
• 2026-01-13 Listed $66,200 METROMLS
• 2020-07-24 Sold (Public Records) $36,000 Public Records
• 2015-01-01 Listing Removed — METROMLS
• 2014-09-05 Listed $32,000 METROMLS
• 2013-09-20 Listed $14,000 METROMLS
• 2013-09-20 Listing Removed — METROMLS
• 2013-04-08 Sold (MLS) $17,100 METROMLS
• 1992-06-01 Sold (Public Records) $36,500 Public Records
• 1987-03-01 Sold (Public Records) $34,900 Public Records

Property tax history

-2.5%/yr

Latest (2024): $931 · -62.7% YoY. Source: county tax records.