3616 N 16th St · Milwaukee, WI 53206

$59,000

4 bd · 1.0 ba · 1,447 sqft · SingleFamily public records · 188 Days on market

Built 1917 4,356 sqft lot

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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 +2.5/5.0
• Schools +1.2/10.0

Listing remarks MLS

This is a tax foreclosed property. Owner Occupants will be prioritized.

Key facts

• 4,356 sq ft lot
• Built 1917
• Listed 188 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $59k.

Deal economics

• At list price, monthly cash flow is $620 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $59k).
• Recommended offer: $52k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.9% 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); 160 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).

Forward outlook

• In year one you build about $6k of equity ($408 loan paydown + $6k 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 $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 188 days — a 12% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $45k (43%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $13k; list at $59k implies a 347% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1917 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $51,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 188 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1917 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
8. 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.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.28% ✓
• Cap rate: 18.90%
• Cash-on-cash: 45.02%
• DSCR: 3.00
• GRM: 3.7

CMA / ARV

• ARV (on-the-fly): $177,981
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3840 N 18th St St	0.24mi	3/2.0 (-1)	1,413 (-2%)	2mo	$120,000	$85	74
3735 N 15th St	0.12mi	5/1.0 (+1)	1,263 (-13%)	2mo	$155,000	$123	67
1225 W Keefe Ave	0.25mi	5/1.0 (+1)	1,294 (-11%)	1mo	$90,000	$70	65
3700 N 14th St	0.14mi	5/2.0 (+1)	1,611 (+11%)	2mo	$205,000	$127	64
3783 N 9th St	0.44mi	4/2.0	1,562 (+8%)	2mo	$220,000	$141	60
3450 N 23rd St	0.52mi	4/2.0	1,556 (+8%)	4mo	$135,000	$87	55
3558 N 11th St	0.32mi	5/1.5 (+1)	1,656 (+14%)	5mo	$150,000	$91	50
3311 N 8th St	0.57mi	4/1.0	1,259 (-13%)	2mo	$63,000	$50	50
3422 N 11th St	0.38mi	5/2.0 (+1)	1,249 (-14%)	1mo	$159,000	$127	50
3741 N 25th St	0.74mi	3/2.0 (-1)	1,397 (-4%)	2mo	$195,000	$140	49
4182 N 13th St	0.68mi	4/2.0	1,351 (-7%)	5mo	$239,000	$177	49
3745 N 25th St	0.74mi	4/1.5	1,635 (+13%)	5mo	$100,000	$61	38

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: 63.2%
• Equity multiple: 5.77×
• Total profit: $78,754
• Equity at exit: $53,152

10-year hold

• IRR: 58.9%
• Equity multiple: 14.23×
• Total profit: $218,570
• Equity at exit: $114,624

Cash invested: $16,520 (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: 160
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,345 high
• Mortgage (P&I): −$309
• Tax from tax record: −$109 /mo · $1,307/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $620

Break-even live

Break-even rent $561

Max offer price $59,000

Occupancy floor 49%

Sensitivity live

Price	-10% $653	-5% $636	+0% $620	+5% $603	+10% $586
Rent	-10% $513	-5% $567	+0% $620	+5% $673	+10% $726
Rate	-1.0pp $649	-0.5pp $635	base $620	+0.5pp $604	+1.0pp $589

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3416 N 17th St Unit 1 Milwaukee, WI	3.0	1.0	1200	$1,100	$0.92	45d	1	0.24mi
2106A W Keefe Ave Unit 2106 Lower Milwaukee, WI	3.0	1.0	1300	$1,100	$0.85	18d	1	0.40mi
3298 N 13th St Milwaukee, WI	3.0	1.0	885	$895	$1.01	45d	1	0.41mi
2116 W Atkinson Ave Unit A Milwaukee, WI	4.0	1.0	1707	$2,000	$1.17	3d	1	0.66mi
3045 N 11th St #3047 Milwaukee, WI	3.0	1.0	1065	$1,175	$1.10	5d	1	0.73mi
3388 N 27th St Unit 3388 Front House Milwaukee, WI	4.0	1.0	1212	$1,550	$1.28	5d	1	0.83mi
2704 W Concordia Ave Unit Na Milwaukee, WI	5.0	2.0	1856	$2,500	$1.35	25d	1	0.90mi
2945 N 23rd St Milwaukee, WI	3.0	1.0	1014	$1,195	$1.18	45d	1	0.95mi
2821 W Concordia Ave Milwaukee, WI	3.0	1.5	1098	$1,595	$1.45	3d	1	0.98mi
3703 N 1st St Unit Upper-3705 Milwaukee, WI	3.0	1.0	1034	$1,200	$1.16	45d	1	1.00mi
2741 N 23rd St Unit 2 Milwaukee, WI	3.0	1.0	1000	$1,100	$1.10	18d	1	1.17mi
2741 N 23rd St Milwaukee, WI	3.0	1.0	900	$1,050	$1.17	15d	1	1.17mi
312 E Townsend St Unit 312 Milwaukee, WI	3.0	1.0	1400	$1,250	$0.89	25d	1	1.24mi
2765 N 26th St Unit 1 Milwaukee, WI	3.0	1.0	1125	$1,200	$1.07	5d	1	1.28mi
2870 N 29th St #2872 Milwaukee, WI	3.0	1.0	1300	$1,250	$0.96	45d	1	1.28mi
223 E Burleigh St Unit 223 Milwaukee, WI	4.0	1.0	1153	$1,395	$1.21	45d	1	1.30mi
3042 N Palmer St #5 Milwaukee, WI	3.0	1.0	1718	$1,050	$0.61	25d	1	1.31mi
2308 W Clarke St Milwaukee, WI	4.0	2.0	1545	$1,750	$1.13	25d	1	1.34mi
3029 N Holton St Milwaukee, WI	3.0	1.0	980	$1,200	$1.22	45d	1	1.47mi
2577 N Vel R Phillips Ave Milwaukee, WI	3.0	1.0	1048	$1,400	$1.34	18d	1	1.48mi

Listing history 7 events

1. 2026-04-08
   status Pending
2. 2026-03-18
   price $59,000
3. 2026-01-06
   price $88,740
4. 2025-09-30
   historical 71-char remark

   Show marketing remark (71 chars)

   This is a tax foreclosed property. Owner Occupants will be prioritized.

5. 2025-09-30
   listed $104,400 Active

   Show marketing remark (71 chars)

   This is a tax foreclosed property. Owner Occupants will be prioritized.

6. 2025-08-29
   listed $104,400 Active 71-char remark

   Show marketing remark (71 chars)

   This is a tax foreclosed property. Owner Occupants will be prioritized.

7. 1966-11-01
   soldstatus $13,200

ⓘ 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: $1,307 · $109/mo
• Projected year-2 tax: $1,307 · $109/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 5/10 Major FEMA zone X (unshaded) · 66% 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: $16,141
• − Mortgage interest: −$3,305
• − Property taxes: −$1,307
• − Insurance: −$295
• − Repairs & maintenance: −$1,291
• − Management: −$1,291
• − Depreciation: −$1,716
• Taxable income: $6,935
• Est. tax owed @ 24.0%: −$1,664
• After-tax cash flow: $5,772/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): 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

+347.0% since first listed

7 events — show timeline

• 2026-04-08 Pending — METROMLS
• 2026-03-18 Price Changed $59,000 METROMLS
• 2026-01-06 Price Changed $88,740 METROMLS
• 2025-09-30 Listing Removed — METROMLS
• 2025-09-30 Listed $104,400 METROMLS
• 2025-08-29 Listed $104,400 METROMLS
• 1966-11-01 Sold (Public Records) $13,200 Public Records

Property tax history

-0.9%/yr

Latest (2024): $1,307 · -51.4% YoY. Source: county tax records.