2556 N Humboldt Blvd · Milwaukee, WI 53212

$135,338

3 bd · 2.0 ba · 1,599 sqft · MultiFamily public records · 105 Days on market

Built 1898 4,791 sqft lot $85/sqft · 54% below area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Multi-family units

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

Listing remarks MLS

2/1 duplex offers a renovation opportunity. City of Milwaukee Tax Foreclosure Property. Scope of work is $71,810. Essential scope of work is $58,590. 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.

Key facts

• 4,791 sq ft lot
• Garage
• Built 1898

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $135k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $660/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $135k).
• Recommended offer: $123k (9.0% below list) — sets the bar for market timing.
• Cap rate 18.0% 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); 129 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $2,856/mo this rent would consume 72% of the median local household income ($47k/yr) (locally 2397% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $936 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 ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 105 days — a 9% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $45k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $57k; list at $135k implies a 138% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1898 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,157 (9.0% below list)

Questions for the listing agent

1. It's been on market 105 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 1898 — 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: 2.11% ✓
• Cap rate: 18.01%
• Cash-on-cash: 41.83%
• DSCR: 2.86
• GRM: 3.9

CMA / ARV

• ARV (median comp): $296,713
• List price: $135,338
• Delta: -54.39%
• 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
2473 N Dousman St #2475	0.11mi	3/2.0	1,613 (+1%)	7mo	$281,000	$174	87
2443 N Fratney St	0.26mi	3/2.0	1,563 (-2%)	13mo	$243,000	$155	73
2545 N Pierce St	0.28mi	4/2.0 (+1)	1,470 (-8%)	2mo	$250,000	$170	67
823 E Clarke St	0.17mi	4/2.0 (+1)	1,750 (+9%)	10mo	$168,500	$96	63
620 E Center St	0.35mi	3/2.0	1,738 (+9%)	12mo	$330,000	$190	59
3066 N Newhall St Unit 3066A	0.74mi	4/2.0 (+1)	1,577 (-1%)	1mo	$255,000	$162	57
3026 N Pierce St	0.64mi	4/2.0 (+1)	1,684 (+5%)	1mo	$77,000	$46	56
433 E Lloyd St	0.66mi	4/2.0 (+1)	1,664 (+4%)	6mo	$290,000	$174	52
2724 N Palmer St Unit 2724A	0.63mi	4/2.0 (+1)	1,746 (+9%)	4mo	$104,900	$60	46
2636 N Richard St	0.51mi	4/2.0 (+1)	1,770 (+11%)	11mo	$249,900	$141	44
600 E Burleigh St	0.75mi	4/2.0 (+1)	1,787 (+12%)	1mo	$180,000	$101	39
2947 N Newhall St	0.60mi	4/2.0 (+1)	1,798 (+12%)	9mo	$365,000	$203	39

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 · 5.0% rent growth · sell at horizon

5-year hold

• IRR: 40.7%
• Equity multiple: 2.80×
• Total profit: $68,106
• Equity at exit: $20,179

10-year hold

• IRR: 48.0%
• Equity multiple: 6.09×
• Total profit: $192,872
• Equity at exit: $11,702

Cash invested: $37,895 (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 53212

• Rents YoY: 5.0%
• Active inventory: 129
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,856 high
• Mortgage (P&I): −$710
• Tax est. 1.5%: −$169 /mo · $2,030/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$600
• Net cashflow: $1,321

Break-even live

Break-even rent $1,184

Max offer price $135,338

Occupancy floor 49%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,856
Total (2 units)			$2,856

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: $33,834
• Closing costs: $4,060
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2518 N Humboldt Blvd Unit 2518 Lower Milwaukee, WI	2.0	1.0	1246	$1,275	$1.02	17d	1	0.05mi
2429 N Weil St Milwaukee, WI	3.0	1.0	1300	$1,500	$1.15	44d	1	0.17mi
2442 N Bremen St Milwaukee, WI	2.0	1.0	1100	$1,495	$1.36	44d	1	0.18mi
2761 N Humboldt Blvd Unit First Floor Milwaukee, WI	3.0	1.0	1236	$1,600	$1.29	17d	1	0.26mi
2772 N Bremen St #2774 Milwaukee, WI	3.0	1.0	1500	$1,795	$1.20	44d	1	0.30mi
2507 N Buffum St Milwaukee, WI	3.0	1.0	1300	$1,375	$1.06	20d	1	0.45mi
2627 N Bartlett Ave Milwaukee, WI	3.0	1.0	1100	$1,500	$1.36	12d	1	0.45mi
2716A N Buffum St Milwaukee, WI	2.0	1.0	1100	$1,200	$1.09	21d	1	0.47mi
400 E Meinecke Ave #402 Milwaukee, WI	3.0	1.0	1700	$1,800	$1.06	16d	1	0.47mi
2130 N Commerce St Milwaukee, WI	2.0	2.5	1550	$2,495	$1.61	44d	1	0.48mi
2536 N Richards St Unit 1ST Milwaukee, WI	2.0	1.0	1200	$950	$0.79	44d	1	0.48mi
2752 N Bartlett Ave Apt 1 Milwaukee, WI	2.0	1.0	1100	$1,745	$1.59	44d	1	0.52mi
1633 E North Ave Milwaukee, WI	2.0	1.0	1110	$1,900	$1.71	2d	3	0.55mi
1925 N Water St #202 Milwaukee, WI	2.0	2.0	1576	$2,300	$1.46	44d	1	0.59mi
329 E Garfield Ave Milwaukee, WI	2.0	1.5	1100	$1,350	$1.23	4d	1	0.63mi
1219 E Kane Pl Milwaukee, WI	2.0	1.0	1250	$1,800	$1.44	44d	1	0.64mi
2808 N Palmer St Unit Lower Milwaukee, WI	2.0	1.0	1200	$875	$0.73	44d	1	0.65mi
1845 N Water St Milwaukee, WI	3.0	1.0–2.0	948	$4,455	$4.70	3d	84	0.65mi
1014 E Land Pl Milwaukee, WI	3.0	2.0	1900	$2,000	$1.05	4d	1	0.67mi
2018 N Oakland Ave Apt 106 Milwaukee, WI	2.0	1.0	1220	$1,475	$1.21	4d	1	0.68mi
1025 E Land Pl Milwaukee, WI	3.0	1.0	1560	$1,750	$1.12	24d	1	0.69mi
2719 N 1st St Milwaukee, WI	2.0	1.0	1300	$1,095	$0.84	14d	1	0.71mi
2012 N Buffum St Milwaukee, WI	3.0	2.5	2200	$2,695	$1.23	44d	1	0.71mi
1116 E Hamilton St Milwaukee, WI	3.0	2.0	1400	$1,750	$1.25	17d	1	0.72mi
922 E Hamilton St Unit Lower Milwaukee, WI	3.0	1.0	1900	$1,550	$0.82	24d	1	0.72mi
2706 N Frederick Ave Milwaukee, WI	3.0	2.0	1500	$2,000	$1.33	17d	1	0.73mi
2110 N Palmer St Milwaukee, WI	2.0	1.0	1100	$1,985	$1.80	4d	1	0.74mi
2609 N Maryland Ave Milwaukee, WI	4.0	2.5	1700	$2,050	$1.21	4d	1	0.74mi
1814 E Linnwood Ave Milwaukee, WI	4.0	2.0	1800	$3,100	$1.72	44d	1	0.77mi
2959 N Murray Ave Milwaukee, WI	3.0	1.0	1500	$1,800	$1.20	16d	1	0.80mi
1902 E Linnwood Ave Unit 1902 05 Milwaukee, WI	4.0	1.5	1599	$2,400	$1.50	4d	1	0.81mi
1902 E Linnwood Ave Unit 1902 04 Milwaukee, WI	4.0	1.5	1599	$2,400	$1.50	17d	1	0.81mi
1902 E Linnwood Ave Unit 1902 3002 Milwaukee, WI	3.0	1.0	1300	$1,899	$1.46	44d	1	0.81mi
2036 N Prospect Ave Milwaukee, WI	1.0–2.0	1.0–2.5	1196	$3,336	$2.79	3d	18	0.82mi
1703 N Astor St Milwaukee, WI	4.0	2.0	1800	$2,200	$1.22	44d	1	0.82mi
2937 N Frederick Ave Milwaukee, WI	4.0	1.0	1700	$1,925	$1.13	4d	1	0.83mi
3042 N Palmer St #5 Milwaukee, WI	3.0	1.0	1718	$1,050	$0.61	24d	1	0.84mi
3131 N Bartlett Ave Unit 1 Milwaukee, WI	4.0	1.0	1600	$1,750	$1.09	44d	1	0.84mi
1858 N Commerce St Milwaukee, WI	2.0	1.0–2.0	1124	$1,520	$1.35	14d	2	0.84mi
818 E Brady St Unit 820 Milwaukee, WI	3.0	1.0	1200	$1,700	$1.42	44d	1	0.84mi

Listing history 20 events

1. 2026-06-18
   days on market $135,338 Active 105 DOM
2. 2026-06-17
   days on market $135,338 Active 104 DOM
3. 2026-06-16
   days on market $135,338 Active 103 DOM
4. 2026-06-15
   days on market $135,338 Active 102 DOM
5. 2026-06-13
   days on market $135,338 Active 100 DOM
6. 2026-06-13
   days on market $135,338 Active 99 DOM
7. 2026-06-09
   days on market $135,338 Active 96 DOM
8. 2026-06-08
   days on market $135,338 Active 95 DOM
9. 2026-06-07
   days on market $135,338 Active 94 DOM
10. 2026-06-05
    days on market $135,338 Active 91 DOM
11. 2026-06-03
    days on market $135,338 Active 90 DOM
12. 2026-06-02
    days on market $135,338 Active 89 DOM
13. 2026-06-02
    price $135,338 Active 88 DOM
14. 2026-06-01
    days on market $180,450 Active 88 DOM
15. 2026-05-31
    days on market $180,450 Active 87 DOM
16. 2026-03-04
    listed $180,450 Active 450-char remark

    Show marketing remark (450 chars)

    2/1 duplex offers a renovation opportunity. City of Milwaukee Tax Foreclosure Property. Scope of work is $71,810. Essential scope of work is $58,590. 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.

17. 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

18. 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

19. 2026-01-12
    listed $240,600 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

20. 1995-06-01
    soldstatus $56,900

ⓘ 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 ≥97°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: $34,272
• − Mortgage interest: −$7,581
• − Property taxes: −$2,030
• − Insurance: −$677
• − Repairs & maintenance: −$2,742
• − Management: −$2,742
• − Depreciation: −$3,937
• Taxable income: $14,564
• Est. tax owed @ 24.0%: −$3,495
• After-tax cash flow: $12,356/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): 28,938
• Household income: $47,298
• Rent vs Own: 65.6% rent · 34.4% own
• Severe rent burden: 2397.0

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 0.64)
• Race & ethnicity: Black 48% White 35% Hispanic / Latino 12% Two or more races 9%
• Hispanic origin (detail): Mexican 4% Puerto Rican 6%
• Common ancestry: Romanian 4% Portuguese 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 92% English-only · Spanish 6%

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: ▼ -216.73%
• Current HPI: 385.8225
• Rent YoY: ▲ 5.00%
• 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

+217.1% since first listed

5 events — show timeline

• 2026-03-04 Listed $180,450 METROMLS
• 2026-02-17 Pending — METROMLS
• 2026-02-17 Listing Removed — METROMLS
• 2026-01-12 Listed $240,600 METROMLS
• 1995-06-01 Sold (Public Records) $56,900 Public Records

Property tax history

+5.5%/yr

Latest (2024): $7,024 · +14.4% YoY. Source: county tax records.