3737 N 24th Pl Unit 3737A · Milwaukee, WI 53206

$120,000

4 bd · 2.0 ba · 1,650 sqft · MultiFamily · 41 Days on market

Built 1918 Fair condition 6,534 sqft lot $73/sqft · 63% above 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.6/5.0
• Livability +4.0/5.0
• Condition / age +2.2/5.0
• 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

Great turn key investment opportunity. This 2/2 bedroom duplex has been well maintained. New roof installed this year per seller. Don't hesitate to add this lucrative property to your investment portfolio.

Key facts

• Vintage woodwork
• Newer roof
• Spacious lot

Tags

• NEWER ROOF
• HARDWOOD FLOORS
• VINTAGE WOODWORK
• SPACIOUS LOT

Property features AI

Finance

• Financial info: Two units in building

Exterior

• Parking: Detached 1-car garage
• Utilities: Municipal water; Municipal sewer
• Home design: 2-story duplex; Multi-family property; Zoning: RT3
• Construction: Less than 1/2 acre lot (0.15 acre)
• Exterior features: Aluminum/steel and wood exterior

Interior

• Kitchen: Unit 2 kitchen on upper level (13 x 10)
• Bedrooms: Each unit has 2 bedrooms; Unit 2 master bedroom on upper level (11 x 11)
• Bathrooms: Each unit has 1 full bathroom
• Interior features: Full block basement
• Laundry & utility: 2 electric meters; 2 gas meters

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $120k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $703 ($8k/yr) — positive. Per door: $351/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.3% 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 (+8.3%/yr); 150 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $1,939/mo this rent would consume 79% of the median local household income ($29k/yr) (locally 2061% 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 $13k of equity ($830 loan paydown + $12k appreciation (10.0% local appreciation)).
• Milwaukee County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 8.0% rent growth), your $34k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 5y 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 $120k implies a 60% 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 $116,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1918 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.62% ✓
• Cap rate: 13.32%
• Cash-on-cash: 25.09%
• DSCR: 2.12
• GRM: 5.2

CMA / ARV

• ARV (median comp): $73,720
• List price: $120,000
• Delta: 62.78%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3529 N 25th St	0.17mi	4/2.0	1,678 (+2%)	8mo	$125,000	$74	82
3430 N 22nd St Unit 3430A	0.33mi	4/2.0	1,678 (+2%)	7mo	$149,900	$89	76
3350 N 25th St Unit 3350A	0.37mi	4/2.0	1,694 (+3%)	8mo	$79,000	$47	72
3955 N 30th St #3957	0.42mi	4/2.0	1,568 (-5%)	1mo	$190,000	$121	71
2421 W Finn Pl #2423	0.15mi	4/2.0	1,844 (+12%)	6mo	$97,500	$53	68
2450 W Keefe Ave #2452	0.20mi	3/2.0 (-1)	1,831 (+11%)	1mo	$35,000	$19	66
3220 N 24th Pl Unit 3220A	0.55mi	3/2.0 (-1)	1,626 (-2%)	1mo	$65,000	$40	66
1818 W Nash St	0.50mi	3/2.0 (-1)	1,581 (-4%)	2mo	$135,000	$85	63
3221 N 29th St	0.63mi	5/2.0 (+1)	1,688 (+2%)	4mo	$127,000	$75	58
4047 N 19th St #4049	0.59mi	4/2.0	1,815 (+10%)	2mo	$134,900	$74	54
2420 W Concordia Ave #2422	0.43mi	4/2.0	1,882 (+14%)	6mo	$70,000	$37	51
3258 N 23rd St Unit 3258A	0.54mi	3/2.0 (-1)	1,836 (+11%)	6mo	$24,000	$13	46

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

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 46.1%
• Equity multiple: 4.58×
• Total profit: $120,375
• Equity at exit: $108,106

10-year hold

• IRR: 42.1%
• Equity multiple: 11.26×
• Total profit: $344,743
• Equity at exit: $233,134

Cash invested: $33,600 (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 53206

• Rents YoY: 8.3%
• Active inventory: 150
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,939 high
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,800/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $703

Break-even live

Break-even rent $1,050

Max offer price $120,000

Occupancy floor 59%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,938
Total (2 units)			$1,939

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2106A W Keefe Ave Unit 2106 Lower Milwaukee, WI	3.0	1.0	1300	$1,100	$0.85	17d	1	0.36mi
3388 N 27th St Unit 3388 Front House Milwaukee, WI	4.0	1.0	1212	$1,550	$1.28	4d	1	0.37mi
2116 W Atkinson Ave Unit A Milwaukee, WI	4.0	1.0	1707	$2,000	$1.17	1d	1	0.48mi
2704 W Concordia Ave Unit Na Milwaukee, WI	5.0	2.0	1856	$2,500	$1.35	23d	1	0.49mi
2821 W Concordia Ave Milwaukee, WI	3.0	1.5	1098	$1,595	$1.45	2d	1	0.55mi
3416 N 17th St Unit 1 Milwaukee, WI	3.0	1.0	1200	$1,100	$0.92	43d	1	0.71mi
2870 N 29th St #2872 Milwaukee, WI	3.0	1.0	1300	$1,250	$0.96	43d	1	1.05mi
3925 N 42nd St Milwaukee, WI	3.0	1.0	1300	$1,675	$1.29	43d	1	1.11mi
2765 N 26th St Unit 1 Milwaukee, WI	3.0	1.0	1125	$1,200	$1.07	4d	1	1.16mi
3045 N 11th St #3047 Milwaukee, WI	3.0	1.0	1065	$1,175	$1.10	4d	1	1.24mi
3122 N 42nd St Milwaukee, WI	3.0	1.0	1323	$1,495	$1.13	4d	1	1.29mi
3123 N 42nd St Milwaukee, WI	4.0	1.0	1500	$1,700	$1.13	23d	1	1.32mi
3100 W Center St Milwaukee, WI	3.0	2.0	1174	$1,531	$1.30	1d	1	1.33mi
2308 W Clarke St Milwaukee, WI	4.0	2.0	1545	$1,750	$1.13	23d	1	1.37mi
2809 W Clarke St Unit 12811 Milwaukee, WI	3.0	1.0	1400	$1,200	$0.86	17d	1	1.42mi

Listing history 29 events

1. 2026-06-18
   days on market $120,000 Active 41 DOM
2. 2026-06-17
   days on market $120,000 Active 40 DOM
3. 2026-06-16
   days on market $120,000 Active 39 DOM
4. 2026-06-15
   price $120,000 Active 38 DOM
5. 2026-06-15
   days on market $125,000 Active 38 DOM
6. 2026-06-13
   days on market $125,000 Active 36 DOM
7. 2026-06-13
   days on market $125,000 Active 35 DOM
8. 2026-06-09
   days on market $125,000 Active 32 DOM
9. 2026-06-08
   days on market $125,000 Active 31 DOM
10. 2026-06-07
    days on market $125,000 Active 30 DOM
11. 2026-06-05
    days on market $125,000 Active 27 DOM
12. 2026-06-03
    days on market $125,000 Active 26 DOM
13. 2026-06-02
    days on market $125,000 Active 25 DOM
14. 2026-06-01
    days on market $125,000 Active 24 DOM
15. 2026-05-31
    days on market $125,000 Active 23 DOM
16. 2026-05-07
    listed $125,000 Active 252-char remark
17. 2021-08-27
    soldstatus $75,000 Sold 205-char remark

    Show marketing remark (205 chars)

    Great turn key investment opportunity. This 2/2 bedroom duplex has been well maintained. New roof installed this year per seller. Don't hesitate to add this lucrative property to your investment portfolio.

18. 2021-06-30
    historical Contingent 205-char remark

    Show marketing remark (205 chars)

    Great turn key investment opportunity. This 2/2 bedroom duplex has been well maintained. New roof installed this year per seller. Don't hesitate to add this lucrative property to your investment portfolio.

19. 2021-06-15
    status Active 205-char remark

    Show marketing remark (205 chars)

    Great turn key investment opportunity. This 2/2 bedroom duplex has been well maintained. New roof installed this year per seller. Don't hesitate to add this lucrative property to your investment portfolio.

20. 2021-06-06
    historical Contingent 205-char remark

    Show marketing remark (205 chars)

    Great turn key investment opportunity. This 2/2 bedroom duplex has been well maintained. New roof installed this year per seller. Don't hesitate to add this lucrative property to your investment portfolio.

21. 2021-05-25
    listed $74,900 Active 205-char remark

    Show marketing remark (205 chars)

    Great turn key investment opportunity. This 2/2 bedroom duplex has been well maintained. New roof installed this year per seller. Don't hesitate to add this lucrative property to your investment portfolio.

22. 2021-05-24
    historical

    Show marketing remark (374 chars)

    Excellent opportunity to live in this newly remodeled upper duplex while operating an active DAY CARE in the lower unit on a month lease. Perfect for the upcoming business owner or newly first time home owner. NEW ROOF INSTALLED APRIL 2021, FRESHLY PAINTED TRIM. Rent could be $1,000 in lower unit. Play gym in rear yard belongs to the owner. Long driveway fenced in yard.

23. 2021-05-20
    price $77,900

    Show marketing remark (374 chars)

    Excellent opportunity to live in this newly remodeled upper duplex while operating an active DAY CARE in the lower unit on a month lease. Perfect for the upcoming business owner or newly first time home owner. NEW ROOF INSTALLED APRIL 2021, FRESHLY PAINTED TRIM. Rent could be $1,000 in lower unit. Play gym in rear yard belongs to the owner. Long driveway fenced in yard.

24. 2021-05-11
    price $75,900

    Show marketing remark (374 chars)

    Excellent opportunity to live in this newly remodeled upper duplex while operating an active DAY CARE in the lower unit on a month lease. Perfect for the upcoming business owner or newly first time home owner. NEW ROOF INSTALLED APRIL 2021, FRESHLY PAINTED TRIM. Rent could be $1,000 in lower unit. Play gym in rear yard belongs to the owner. Long driveway fenced in yard.

25. 2021-05-06
    status Active

    Show marketing remark (374 chars)

    Excellent opportunity to live in this newly remodeled upper duplex while operating an active DAY CARE in the lower unit on a month lease. Perfect for the upcoming business owner or newly first time home owner. NEW ROOF INSTALLED APRIL 2021, FRESHLY PAINTED TRIM. Rent could be $1,000 in lower unit. Play gym in rear yard belongs to the owner. Long driveway fenced in yard.

26. 2021-04-09
    status Pending

    Show marketing remark (374 chars)

    Excellent opportunity to live in this newly remodeled upper duplex while operating an active DAY CARE in the lower unit on a month lease. Perfect for the upcoming business owner or newly first time home owner. NEW ROOF INSTALLED APRIL 2021, FRESHLY PAINTED TRIM. Rent could be $1,000 in lower unit. Play gym in rear yard belongs to the owner. Long driveway fenced in yard.

27. 2021-03-23
    historical Contingent

    Show marketing remark (374 chars)

    Excellent opportunity to live in this newly remodeled upper duplex while operating an active DAY CARE in the lower unit on a month lease. Perfect for the upcoming business owner or newly first time home owner. NEW ROOF INSTALLED APRIL 2021, FRESHLY PAINTED TRIM. Rent could be $1,000 in lower unit. Play gym in rear yard belongs to the owner. Long driveway fenced in yard.

28. 2021-03-16
    price $73,900

    Show marketing remark (374 chars)

    Excellent opportunity to live in this newly remodeled upper duplex while operating an active DAY CARE in the lower unit on a month lease. Perfect for the upcoming business owner or newly first time home owner. NEW ROOF INSTALLED APRIL 2021, FRESHLY PAINTED TRIM. Rent could be $1,000 in lower unit. Play gym in rear yard belongs to the owner. Long driveway fenced in yard.

29. 2021-03-05
    listed $79,900 Active

    Show marketing remark (374 chars)

    Excellent opportunity to live in this newly remodeled upper duplex while operating an active DAY CARE in the lower unit on a month lease. Perfect for the upcoming business owner or newly first time home owner. NEW ROOF INSTALLED APRIL 2021, FRESHLY PAINTED TRIM. Rent could be $1,000 in lower unit. Play gym in rear yard belongs to the owner. Long driveway fenced in yard.

ⓘ 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: $23,268
• − Mortgage interest: −$6,722
• − Property taxes: −$1,800
• − Insurance: −$600
• − Repairs & maintenance: −$1,861
• − Management: −$1,861
• − Depreciation: −$3,491
• Taxable income: $6,932
• Est. tax owed @ 24.0%: −$1,664
• After-tax cash flow: $6,766/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This two-unit property requires moderate renovations to improve its condition and increase its value. Key areas for improvement include the kitchen, bathrooms, exterior, and landscaping.

Repairs flagged

• Major kitchen cabinets — dated and worn
• Major bathroom fixtures — outdated and basic
• Major exterior paint — worn and peeling
• Major interior paint — bare and peeling
• Major landscaping — overgrown and unkempt

Value-add opportunities

• Both new kitchen cabinets and countertops — modernizes and increases functionality
• Both new bathroom fixtures and tile — enhances aesthetics and functionality
• Both exterior paint and landscaping — improves curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and worn	Major	$15,000–50,000
bathroom fixtures · outdated and basic	Major	$15,000–50,000
exterior paint · worn and peeling	Major	$15,000–50,000
interior paint · bare and peeling	Major	$15,000–50,000
landscaping · overgrown and unkempt	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both new kitchen cabinets and countertops — modernizes and increases functionality ↑
• Both new bathroom fixtures and tile — enhances aesthetics and functionality ↑
• Both exterior paint and landscaping — improves curb appeal and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 19,887
• Household income: $29,336
• Rent vs Own: 67.8% rent · 32.2% own
• Severe rent burden: 2061.0

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 (91%)
• Race & ethnicity: Black 91% Two or more races 3% White 3% Hispanic / Latino 3%
• Common ancestry: Norwegian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 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: ▲ 133.03%
• Current HPI: 397.7151
• Rent YoY: ▲ 8.28%
• 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

+50.2% since first listed

15 events — show timeline

• 2026-06-15 Price Changed $120,000 METROMLS
• 2026-05-07 Listed $125,000 METROMLS
• 2021-08-27 Sold (MLS) $75,000 METROMLS
• 2021-06-30 Contingent — METROMLS
• 2021-06-15 Relisted — METROMLS
• 2021-06-06 Contingent — METROMLS
• 2021-05-25 Listed $74,900 METROMLS
• 2021-05-24 Listing Removed — METROMLS
• 2021-05-20 Price Changed $77,900 METROMLS
• 2021-05-11 Price Changed $75,900 METROMLS
• 2021-05-06 Relisted — METROMLS
• 2021-04-09 Pending — METROMLS
• 2021-03-23 Contingent — METROMLS
• 2021-03-16 Price Changed $73,900 METROMLS
• 2021-03-05 Listed $79,900 METROMLS