2514 N 36th St · Milwaukee, WI 53210

$15,000

4 bd · 1.0 ba · 1,218 sqft · SingleFamily public records · 104 Days on market

Built 1912 5,227 sqft lot $12/sqft · 78% below area

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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
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This property is being offered as a tax foreclosure by the City of Milwaukee. Please see attached scope of work with the essential renovation costs of $97,400 and the total scope of work totaling $121,110. Room and lot sizes are estimates & all information should be verified. Property being sold in 'as-is' condition. Property is subject to a performance deposit. Earnest money to be paid to Knight Barry Title and can be mailed or dropped off. Please indicate Knight Barry will be holding EM.

Key facts

• 5,227 sq ft lot
• Built 1912
• Listed 104 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $15k.

Deal economics

• At list price, monthly cash flow is $932 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $15k).
• Recommended offer: $14k (9.0% below list) — sets the bar for market timing.
• Cap rate 80.8% 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 (+3.8%/yr); 142 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• This rent runs 33% of the median local income ($48k/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 $104 of loan paydown is wiped out by about $450 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 + 3.8% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($14k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y ago; this cycle's ask has dropped $5k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $5k; list at $15k implies a 200% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.7% of price; built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $13,650 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 8.96% ✓
• Cap rate: 80.82%
• Cash-on-cash: 266.18%
• DSCR: 12.84
• GRM: 0.9

CMA / ARV

• ARV (median comp): $67,379
• List price: $15,000
• Delta: -77.74%
• 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
2444 N 38th St	0.15mi	3/1.0 (-1)	1,118 (-8%)	4mo	$105,000	$94	71
2464 N 34th St	0.13mi	3/2.0 (-1)	1,280 (+5%)	10mo	$195,000	$152	68
2745 N 33rd St	0.33mi	3/2.0 (-1)	1,200 (-2%)	9mo	$120,000	$100	66
2558 N 37th St	0.09mi	4/2.0	1,356 (+11%)	12mo	$115,000	$85	63
2114 N 34th St	0.45mi	4/1.0	1,278 (+5%)	12mo	$85,000	$67	61
2807 N 36th St	0.37mi	3/1.0 (-1)	1,297 (+6%)	8mo	$70,000	$54	61
2865 N 36th St	0.45mi	3/2.0 (-1)	1,292 (+6%)	2mo	$132,000	$102	58
2457 N 25th St	0.67mi	4/1.0	1,230 (+1%)	13mo	$126,500	$103	56
3052 N 40th St	0.72mi	3/1.0 (-1)	1,240 (+2%)	4mo	$75,000	$60	55
2408 N 47th St	0.71mi	4/1.5	1,258 (+3%)	9mo	$112,000	$89	52
2914 N 38th St	0.52mi	4/1.0	1,329 (+9%)	12mo	$120,000	$90	50
3801 W Sarnow St	0.72mi	3/1.0 (-1)	1,116 (-8%)	1mo	$105,000	$94	47

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 · 3.82% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 14.82×
• Total profit: $58,060
• Equity at exit: $2,237

10-year hold

• IRR: —
• Equity multiple: 32.38×
• Total profit: $131,778
• Equity at exit: $1,297

Cash invested: $4,200 (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 53210

• Home prices YoY: -21.5%
• Rents YoY: 3.8%
• Active inventory: 142
• Price-to-rent: 0.9×

Monthly cashflow live

• Estimated rent: $1,345 high
• Mortgage (P&I): −$79
• Tax from tax record: −$46 /mo · $548/yr
• Insurance: −$6
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $932

Break-even live

Break-even rent $165

Max offer price $15,000

Occupancy floor 26%

Sensitivity live

Price	-10% $940	-5% $936	+0% $932	+5% $927	+10% $923
Rent	-10% $825	-5% $879	+0% $932	+5% $985	+10% $1,038
Rate	-1.0pp $939	-0.5pp $935	base $932	+0.5pp $928	+1.0pp $924

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: $3,750
• Closing costs: $450
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2403-2405 N 39th St Unit 2403 Lower Milwaukee, WI	3.0	1.0	1200	$995	$0.83	11d	1	0.28mi
2403-2405 N 39th St Unit 2405 Upper Milwaukee, WI	3.0	1.0	1141	$995	$0.87	11d	1	0.29mi
3100 W Center St Milwaukee, WI	3.0	2.0	1174	$1,531	$1.30	2d	1	0.31mi
2201 N 32nd St Unit 2201 Milwaukee, WI	3.0	1.0	1100	$1,195	$1.09	16d	1	0.43mi
2809 W Clarke St Unit 12811 Milwaukee, WI	3.0	1.0	1400	$1,200	$0.86	17d	1	0.46mi
2251 N 41st St Unit Lower Milwaukee, WI	3.0	1.0	1187	$1,198	$1.01	15d	1	0.47mi
2713 N 44th St Milwaukee, WI	3.0	1.0	1450	$1,350	$0.93	44d	1	0.61mi
2001 N 38th St #2003 Milwaukee, WI	3.0	1.0	1326	$950	$0.72	2d	1	0.61mi
2870 N 29th St #2872 Milwaukee, WI	3.0	1.0	1300	$1,250	$0.96	44d	1	0.61mi
2232 N 44th St Unit 2234 Upper Milwaukee, WI	3.0	1.0	1000	$1,195	$1.20	44d	1	0.64mi
2765 N 26th St Unit 1 Milwaukee, WI	3.0	1.0	1125	$1,200	$1.07	5d	1	0.66mi
3122 N 42nd St Milwaukee, WI	3.0	1.0	1323	$1,495	$1.13	5d	1	0.83mi
3123 N 42nd St Milwaukee, WI	4.0	1.0	1500	$1,700	$1.13	24d	1	0.84mi
2741 N 23rd St Unit 2 Milwaukee, WI	3.0	1.0	1000	$1,100	$1.10	17d	1	0.88mi
2741 N 23rd St Milwaukee, WI	3.0	1.0	900	$1,050	$1.17	15d	1	0.88mi
1639 N 33rd St Milwaukee, WI	3.0	1.0	1424	$950	$0.67	24d	1	0.88mi
2629 N 49th St Milwaukee, WI	3.0	1.0	1200	$1,350	$1.12	44d	1	0.89mi
2409 N 49th St Milwaukee, WI	3.0	1.0	1335	$1,248	$0.93	44d	1	0.89mi
2629 N 50th St Unit Upper Milwaukee, WI	3.0	1.0	1258	$1,375	$1.09	3d	1	0.94mi
2438 N 51st St Unit 2 Milwaukee, WI	3.0	1.0	1300	$1,650	$1.27	24d	1	0.98mi
2945 N 23rd St Milwaukee, WI	3.0	1.0	1014	$1,195	$1.18	44d	1	0.99mi
1515 N 32nd St Unit 1515 Milwaukee, WI	3.0	1.0	1200	$1,245	$1.04	5d	1	1.02mi
2821 W Concordia Ave Milwaukee, WI	3.0	1.5	1098	$1,595	$1.45	2d	1	1.06mi
3388 N 27th St Unit 3388 Front House Milwaukee, WI	4.0	1.0	1212	$1,550	$1.28	5d	1	1.24mi
3155 N 52nd St Milwaukee, WI	3.0	2.0	1300	$1,400	$1.08	44d	1	1.32mi
1239 N 26th St Unit 1 Milwaukee, WI	3.0	1.0	1300	$1,400	$1.08	45d	1	1.39mi
1239 N 26th St Unit 1 Milwaukee, WI	3.0	1.0	1300	$1,400	$1.08	44d	1	1.39mi
1235 N 26th St Milwaukee, WI	3.0	1.0	900	$950	$1.06	44d	1	1.39mi
2610 W Juneau Ave Unit 2610 Milwaukee, WI	3.0	1.0	893	$1,400	$1.57	24d	1	1.43mi
3012 N 57th St Unit Lower Milwaukee, WI	3.0	1.0	1130	$1,398	$1.24	5d	1	1.45mi
2478-2480 W Juneau Ave Unit 2478 Milwaukee, WI	4.0	1.0	1375	$1,495	$1.09	24d	1	1.45mi

Listing history 25 events

1. 2026-06-18
   days on market $15,000 Active 104 DOM
2. 2026-06-17
   days on market $15,000 Active 103 DOM
3. 2026-06-16
   days on market $15,000 Active 102 DOM
4. 2026-06-15
   days on market $15,000 Active 101 DOM
5. 2026-06-13
   days on market $15,000 Active 99 DOM
6. 2026-06-13
   days on market $15,000 Active 98 DOM
7. 2026-06-09
   days on market $15,000 Active 95 DOM
8. 2026-06-08
   days on market $15,000 Active 94 DOM
9. 2026-06-07
   pricedays on market $15,000 Active 93 DOM
10. 2026-06-05
    days on market $20,000 Active 90 DOM
11. 2026-06-03
    days on market $20,000 Active 89 DOM
12. 2026-06-02
    days on market $20,000 Active 88 DOM
13. 2026-06-01
    days on market $20,000 Active 87 DOM
14. 2026-05-31
    days on market $20,000 Active 86 DOM
15. 2026-03-04
    listed $20,000 Active 500-char remark

    Show marketing remark (500 chars)

    This property is being offered as a tax foreclosure by the City of Milwaukee. Please see attached scope of work with the essential renovation costs of $97,400 and the total scope of work totaling $121,110. Room and lot sizes are estimates & all information should be verified. Property being sold in 'as-is' condition. Property is subject to a performance deposit. Earnest money to be paid to Knight Barry Title and can be mailed or dropped off. Please indicate Knight Barry will be holding EM.

16. 2026-02-17
    status Pending 238-char remark

    Show marketing remark (238 chars)

    This is a tax foreclosed property. BIDS DUE MONDAY 2/16/2026 at 10:00AM. 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.

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

    Show marketing remark (238 chars)

    This is a tax foreclosed property. BIDS DUE MONDAY 2/16/2026 at 10:00AM. 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.

18. 2026-01-13
    listed $27,700 Active 238-char remark

    Show marketing remark (238 chars)

    This is a tax foreclosed property. BIDS DUE MONDAY 2/16/2026 at 10:00AM. 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.

19. 2018-01-05
    soldstatus $5,000 Sold
20. 2017-12-12
    historical Contingent
21. 2017-08-16
    status Active
22. 2017-06-27
    historical
23. 2017-06-06
    listed $7,700 Active
24. 2006-07-17
    soldstatus $90,000
25. 1991-12-01
    soldstatus $9,200

ⓘ 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: $548 · $46/mo
• Projected year-2 tax: $548 · $46/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 ≥98°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: $16,135
• − Mortgage interest: −$840
• − Property taxes: −$548
• − Insurance: −$75
• − Repairs & maintenance: −$1,291
• − Management: −$1,291
• − Depreciation: −$436
• Taxable income: $11,654
• Est. tax owed @ 24.0%: −$2,797
• After-tax cash flow: $8,383/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): 23,922
• Household income: $48,217
• Rent vs Own: 60.4% rent · 39.6% own
• Severe rent burden: 1730.0

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 (71%)
• Race & ethnicity: Black 71% White 17% Hispanic / Latino 6% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Romanian 2% Portuguese 1% Italian 1%
• Foreign-born: 3% · Canada, Philippines
• Languages at home: 94% English-only · Spanish 3% Other Asian/Pacific 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: ▼ -76.77%
• Current HPI: 280.0133
• Rent YoY: ▲ 3.82%
• 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

+117.4% since first listed

11 events — show timeline

• 2026-03-04 Listed $20,000 METROMLS
• 2026-02-17 Pending — METROMLS
• 2026-02-17 Listing Removed — METROMLS
• 2026-01-13 Listed $27,700 METROMLS
• 2018-01-05 Sold (MLS) $5,000 METROMLS
• 2017-12-12 Contingent — METROMLS
• 2017-08-16 Relisted — METROMLS
• 2017-06-27 Listing Removed — METROMLS
• 2017-06-06 Listed $7,700 METROMLS
• 2006-07-17 Sold (Public Records) $90,000 Public Records
• 1991-12-01 Sold (Public Records) $9,200 Public Records

Property tax history

-15.8%/yr

Latest (2024): $548 · -57.0% YoY. Source: county tax records.