1707 N Prospect Ave Unit 7E · Milwaukee, WI 53202

$1

3 bd · 3.0 ba · 1,430 sqft · Condo public records · 28 Days on market

Built 1967 Good condition $1170/mo HOA · 61% 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Rent growth +2.9/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

COMING SOON!!

Key facts

• Parquet floors
• Ample cabinetry
• Exposed beams

Tags

• OPEN-CONCEPT LAYOUT
• PARQUET FLOORS
• EXPOSED BEAMS
• OVERSIZED WINDOWS
• ABUNDANT NATURAL LIGHT
• AMPLE CABINETRY

Property features AI

Finance

• Other: Zoning: RM7; Inclusions: stove, two refrigerators, dishwasher, swiss oven; Exclusions: seller's personal property
• Financial info: Pets permitted
• HOA & community: Monthly condo fee: $1,170; Building amenities include elevator, laundry facilities, and security; 76 units in the building / association

Exterior

• Parking: Assigned parking space; Attached underground 1-car garage
• Security: Building security
• Utilities: Municipal water; Municipal sewer; Natural gas
• Home design: Condo in a highrise (6+ stories); One-story unit; Edgewater Terrace condominium
• Construction: Brick / brick and stone construction; Year built per assessor/public record
• Exterior features: Brick and brick/stone exterior; Water views

Interior

• Kitchen: Dishwasher; Range/oven; Refrigerator; Swiss oven
• Bedrooms: Master bedroom with private bath
• Bathrooms: Three full bathrooms
• Heating & cooling: Central air conditioning; Radiant / hot water heat; Natural gas heat
• Interior features: Storage lockers; Walk-in closets; No basement (slab)
• Laundry & utility: Building laundry facilities

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath condo listed at $1. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $337 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $1).
• Cap rate 403938.3% 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 (+1.6%/yr); 146 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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).
• This rent runs 32% of the median local income ($71k/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 $0 of loan paydown is wiped out by about $0 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 + 1.6% rent growth), your $0 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($0) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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: HOA is 61% of rent.

Recommended offer $1

Questions for the listing agent

1. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 190711.00% ✓
• Cap rate: 403938.28%
• Cash-on-cash: 1442614.24%
• DSCR: 64189.22
• GRM: 0.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.56% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 69509.17×
• Total profit: $19,462
• Equity at exit: $0

10-year hold

• IRR: —
• Equity multiple: 131186.22×
• Total profit: $36,732
• Equity at exit: $0

Cash invested: $0 (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 53202

• Rents YoY: 1.6%
• Active inventory: 146

Monthly cashflow live

• Estimated rent: $1,907 high
• Mortgage (P&I): −$0
• Tax est. 1.5%: −$0 /mo · $0/yr
• Insurance: −$0
• HOA: −$1,170
• Vacancy / Maint / Mgmt: −$400
• Net cashflow: $337

Break-even live

Break-even rent $1,481

Max offer price $1

Occupancy floor 77%

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: $0
• Closing costs: $0
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1800 N Farwell Ave Milwaukee, WI	2.0	1.0	913	$1,600	$1.75	4d	3	0.07mi
1619 N Farwell Ave #201 Milwaukee, WI	2.0	2.0	1322	$2,600	$1.97	43d	1	0.16mi
1914 N Prospect Ave Milwaukee, WI	2.0–3.0	1.0–1.5	1100	$1,950	$1.77	43d	4	0.18mi
1506 E Kane Pl Milwaukee, WI	2.0	1.0	950	$1,400	$1.47	4d	1	0.23mi
1579 N Warren Ave Milwaukee, WI	3.0	1.0	1200	$1,500	$1.25	43d	1	0.27mi
1219 E Kane Pl Milwaukee, WI	2.0	1.0	1250	$1,800	$1.44	43d	1	0.31mi
2036 N Prospect Ave Milwaukee, WI	1.0–2.0	1.0–2.5	1196	$3,336	$2.79	2d	18	0.32mi
1604 N Franklin Pl Milwaukee, WI	2.0	1.0	1100	$1,500	$1.36	14d	1	0.33mi
2018 N Oakland Ave Apt 106 Milwaukee, WI	2.0	1.0	1220	$1,475	$1.21	4d	1	0.33mi
1116 E Hamilton St Milwaukee, WI	3.0	2.0	1400	$1,750	$1.25	16d	1	0.35mi
1669 N Humboldt Ave Milwaukee, WI	2.0	1.0	950	$1,745	$1.84	4d	1	0.38mi
1025 E Land Pl Milwaukee, WI	3.0	1.0	1560	$1,750	$1.12	23d	1	0.41mi
1703 N Astor St Milwaukee, WI	4.0	2.0	1800	$2,200	$1.22	43d	1	0.45mi
1925 N Water St #202 Milwaukee, WI	2.0	2.0	1576	$2,300	$1.46	43d	1	0.45mi
2130 N Commerce St Milwaukee, WI	2.0	2.5	1550	$2,495	$1.61	43d	1	0.46mi
1633 E North Ave Milwaukee, WI	2.0	1.0	1110	$1,900	$1.71	2d	3	0.47mi
1660 N Marshall St Unit 2 Milwaukee, WI	2.0	1.0	1390	$2,175	$1.56	43d	1	0.49mi
818 E Brady St Unit 820 Milwaukee, WI	3.0	1.0	1200	$1,700	$1.42	43d	1	0.53mi
1845 N Water St Milwaukee, WI	3.0	1.0–2.0	948	$4,455	$4.70	3d	84	0.55mi
1018 E Knapp St Milwaukee, WI	2.0	2.0	907	$1,395	$1.54	14d	1	0.57mi
2340 N Cramer St Unit 515 Milwaukee, WI	2.0	2.0	1034	$1,925	$1.86	4d	1	0.59mi
1902 N Commerce St Milwaukee, WI	2.0	1.0	974	$1,895	$1.95	43d	1	0.67mi
2405 N Frederick Ave Unit 2405 Frederick Milwaukee, WI	3.0	1.0	1000	$1,675	$1.68	4d	1	0.67mi
2407 N Frederick Ave Unit 2407 Frederick Milwaukee, WI	3.0	1.0	1000	$1,700	$1.70	16d	1	0.67mi
1530 N Jackson St Unit 401 Milwaukee, WI	2.0	2.0	1125	$2,225	$1.98	43d	1	0.70mi
1530 N Jackson St Unit 404 Milwaukee, WI	2.0	2.0	1125	$2,150	$1.91	16d	1	0.70mi
1506 N Jackson St Milwaukee, WI	2.0	1.0	1100	$1,600	$1.45	16d	1	0.72mi
1531 N Jackson St Milwaukee, WI	2.0	1.0	1285	$1,625	$1.26	16d	1	0.74mi
1858 N Commerce St Milwaukee, WI	2.0	1.0–2.0	1124	$1,520	$1.35	14d	2	0.75mi
2105 N Booth St Unit 2105-5 Milwaukee, WI	2.0	1.0	1000	$1,799	$1.80	16d	1	0.76mi
1040 N Cass St Milwaukee, WI	1.0–3.0	1.0–2.0	2025	$7,750	$3.83	2d	9	0.78mi
1237 N Van Buren St Milwaukee, WI	1.0–2.0	1.0–2.5	1047	$3,700	$3.53	2d	18	0.80mi
2429 N Weil St Milwaukee, WI	3.0	1.0	1300	$1,500	$1.15	43d	1	0.80mi
709 E Juneau Ave Apt 309 Milwaukee, WI	2.0	1.0	975	$1,300	$1.33	43d	1	0.80mi
709 E Juneau Ave Unit 109 Milwaukee, WI	2.0	1.0	975	$1,200	$1.23	4d	1	0.80mi
709 E Juneau Ave Unit 403-401 Milwaukee, WI	2.0	2.0	900	$1,400	$1.56	43d	1	0.80mi
709 E Juneau Ave Unit 2 Milwaukee, WI	2.0	1.0	900	$1,200	$1.33	43d	1	0.80mi
2442 N Bremen St Milwaukee, WI	2.0	1.0	1100	$1,495	$1.36	43d	1	0.83mi
1551 N Water St Milwaukee, WI	3.0	1.0–2.0	1074	$3,395	$3.16	2d	52	0.84mi
2518 N Humboldt Blvd Unit 2518 Lower Milwaukee, WI	2.0	1.0	1246	$1,275	$1.02	16d	1	0.85mi

HOA detail condo

• Monthly dues: $1,170 · $14,040/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-18
   days on market $1 Active 28 DOM
2. 2026-06-17
   days on market $1 Active 27 DOM
3. 2026-06-16
   days on market $1 Active 26 DOM
4. 2026-06-15
   days on market $1 Active 25 DOM
5. 2026-06-13
   days on market $1 Active 23 DOM
6. 2026-06-13
   days on market $1 Active 22 DOM
7. 2026-06-09
   days on market $1 Active 19 DOM
8. 2026-06-08
   days on market $1 Active 18 DOM
9. 2026-06-07
   days on market $1 Active 17 DOM
10. 2026-06-05
    days on market $1 Active 14 DOM
11. 2026-06-03
    days on market $1 Active 13 DOM
12. 2026-06-02
    days on market $1 Active 12 DOM
13. 2026-06-01
    days on market $1 Active 11 DOM
14. 2026-05-31
    days on market $1 Active 10 DOM
15. 2026-05-07
    historical 13-char remark

    Show marketing remark (13 chars)

    COMING SOON!!

16. 2026-05-07
    listed $349,900 Active 13-char remark

    Show marketing remark (13 chars)

    COMING SOON!!

17. 2026-04-30
    historical $349,900 13-char remark

    Show marketing remark (13 chars)

    COMING SOON!!

ⓘ 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 ≥96°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: $22,885
• − Mortgage interest: −$0
• − Property taxes: −$0
• − Insurance: −$0
• − Repairs & maintenance: −$1,831
• − Management: −$1,831
• − HOA: −$14,040
• − Depreciation: −$0
• Taxable income: $5,184
• Est. tax owed @ 24.0%: −$1,244
• After-tax cash flow: $2,795/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 · 30 photos

Good 75/100 Cosmetic rehab

This spacious 3-bedroom, 3-bath double-unit condo at Edgewater Terrace offers sweeping views of Lake Michigan and downtown skyline. The home is in good condition with minimal repairs needed and is ready for a new owner.

Value-add opportunities

• Resale Paint the interior walls — Fresh paint can make the interior look more modern and appealing.
• Resale Replace the window treatments — New window treatments can enhance the home's curb appeal and make it more attractive to potential buyers.
• Rental Clean the carpets — Clean carpets can make the home more inviting and appealing to renters.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint the interior walls — Fresh paint can make the interior look more modern and appealing. ↑
• Resale Replace the window treatments — New window treatments can enhance the home's curb appeal and make it more attractive to potential buyers. ↑
• Rental Clean the carpets — Clean carpets can make the home more inviting and appealing to renters. ↑

ⓘ 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): 25,861
• Household income: $71,034
• Rent vs Own: 78.6% rent · 21.4% own
• Severe rent burden: 2752.0

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 White (75%)
• Race & ethnicity: White 75% Black 8% Two or more races 6% Hispanic / Latino 6% Asian 5%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Romanian 9% Portuguese 4% Lithuanian 2%
• Foreign-born: 10% · Canada, South Korea
• Languages at home: 89% English-only · Spanish 4% Other Indo-European 2% Other Asian/Pacific 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: ▼ -133.46%
• Current HPI: 226.4316
• Rent YoY: ▲ 1.56%
• 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

+0.0% since first listed

4 events — show timeline

• 2026-05-21 Listed $1 METROMLS
• 2026-05-07 Listing Removed — METROMLS
• 2026-05-07 Listed $349,900 METROMLS
• 2026-04-30 Coming Soon $349,900 METROMLS

Property tax history

+3.3%/yr

Latest (2024): $7,755 · +6.1% YoY. Source: county tax records.