2375 S 16th St #2377 · Milwaukee, WI 53215

$364,900

9 bd · 5.0 ba · 4,800 sqft · SingleFamily · 118 Days on market

Built 1997 Good condition 4,791 sqft lot 3-car garage $76/sqft · 49% below area Est $713k · 49% under ↓ 3% since listing

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Why this score? — see what drove the F 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).

• ARV discount +15.0/15.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Condition / age +3.8/5.0
• Cash flow +2.8/30.0
• Schools +0.6/10.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Prime investment opportunity! Fully occupied 5-unit property generating $3,800+ monthly in rental income. Sold as-is, where-is with immediate cash flow potential. Each unit offers 2 separate entrances/exits, giving tenants added privacy and convenience. Perfect for buyers looking to secure strong cash flow while adding a valuable income-producing property to their portfolio.

Key facts

• 5 unit property
• Separate entrances
• Rental income

Tags

• 5 UNIT PROPERTY
• RENTAL INCOME
• SEPARATE ENTRANCES

What this means for you Summary

Snapshot

• This is a 9-bed/5.0-bath single-family listed at $365k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-1k ($-15k/yr) — negative.
• To cash-flow at today's rent, offer at most $188k (48.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $165k (54.8% below list).
• Recommended offer: $165k (54.8% below list) — sets the bar for 1% rule.
• Cap rate 2.3% vs local median 4.7% in Milwaukee — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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); 119 active listings in the ZIP; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• This rent runs 36% of the median local income ($54k/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 $3k of loan paydown is wiped out by about $11k 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.

Negotiation context

• It's been on market 118 days — a 9% lower offer ($332k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $164,782 (54.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 55% concession, seller financing, or rate buy-down credit?
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. 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 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: 0.45% ✗
• Cap rate: 2.28%
• Cash-on-cash: -14.33%
• DSCR: 0.36
• GRM: 18.5

CMA / ARV

• ARV (median comp): $712,575
• List price: $364,900
• Delta: -48.79%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2357 S Howell Ave #2359	1.45mi	7/3.0 (-2)	3,955 (-18%)	12mo	$487,500	$123	12
2422 S Woodward St #2424	1.68mi	7/2.0 (-2)	3,434 (-28%)	11mo	$495,000	$144	11
1314 S 12th St #1318	1.18mi	7/3.5 (-2)	3,526 (-26%)	50mo	$130,000	$37	4
813 S 3rd St	1.78mi	8/2.0 (-1)	3,540 (-26%)	39mo	$603,000	$170	3
2381 S Woodward St #2383	1.64mi	7/3.0 (-2)	3,382 (-30%)	50mo	$390,000	$115	2

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 · 5.02% rent growth · sell at horizon

5-year hold

• IRR: -41.5%
• Equity multiple: -0.31×
• Total profit: $-133,388
• Equity at exit: $54,408

10-year hold

• IRR: -55.4%
• Equity multiple: -0.97×
• Total profit: $-201,492
• Equity at exit: $31,550

Cash invested: $102,172 (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 53215

• Home prices YoY: -13.6%
• Rents YoY: 5.0%
• Active inventory: 119
• Price-to-rent: 18.5×

Monthly cashflow live

• Estimated rent: $1,648 medium
• Mortgage (P&I): −$1,914
• Tax est. 1.5%: −$456 /mo · $5,474/yr
• Insurance: −$152
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $-1,220

Break-even live

Break-even rent $3,192

Max offer price $188,369

Occupancy floor —

Sensitivity live

Price	-10% $-968	-5% $-1,094	+0% $-1,220	+5% $-1,346	+10% $-1,472
Rent	-10% $-1,350	-5% $-1,285	+0% $-1,220	+5% $-1,155	+10% $-1,090
Rate	-1.0pp $-1,036	-0.5pp $-1,127	base $-1,220	+0.5pp $-1,315	+1.0pp $-1,411

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: $91,225
• Closing costs: $10,947
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Exterior

• Parking: Detached 3-car garageOne additional parking space
• Utilities: Municipal waterMunicipal sewer
• Home design: Two-story single-family home
• Construction: Information source for year built from assessor/public record
• Exterior features: Aluminum/aluminum-steel exteriorLot less than 1/2 acre (approx. 0.11 acre)

Interior

• Kitchen: Kitchen on main level (approx. 10 x 10)
• Bedrooms: Master bedroom on main level (approx. 11 x 10)Bedroom 2 on main level (approx. 10 x 12)Bedroom 3 on upper level (approx. 10 x 12)Bedroom 4 on upper level (approx. 11 x 10)Bedroom 5 on upper level (approx. 10 x 12)
• Bathrooms: Five full bathrooms
• Heating & cooling: Forced air heatingNatural gas heating
• Interior features: Poured concrete basement

Listing history 50 events

1. 2026-09-23
   days on market $364,900 Active 118 DOM
2. 2026-09-22
   days on market $364,900 Active 117 DOM
3. 2026-09-21
   days on market $364,900 Active 116 DOM
4. 2026-09-20
   days on market $364,900 Active 115 DOM
5. 2026-09-19
   days on market $364,900 Active 114 DOM
6. 2026-09-18
   days on market $364,900 Active 113 DOM
7. 2026-09-17
   days on market $364,900 Active 112 DOM
8. 2026-09-16
   days on market $364,900 Active 111 DOM
9. 2026-09-15
   days on market $364,900 Active 110 DOM
10. 2026-09-14
    days on market $364,900 Active 109 DOM
11. 2026-09-13
    days on market $364,900 Active 108 DOM
12. 2026-09-12
    days on market $364,900 Active 107 DOM
13. 2026-09-11
    days on market $364,900 Active 106 DOM
14. 2026-09-05
    days on market $364,900 Active 100 DOM
15. 2026-09-04
    days on market $364,900 Active 99 DOM
16. 2026-09-03
    days on market $364,900 Active 98 DOM
17. 2026-08-31
    days on market $364,900 Active 95 DOM
18. 2026-08-29
    days on market $364,900 Active 93 DOM
19. 2026-08-28
    days on market $364,900 Active 92 DOM
20. 2026-08-27
    days on market $364,900 Active 91 DOM
21. 2026-08-26
    days on market $364,900 Active 90 DOM
22. 2026-08-25
    days on market $364,900 Active 89 DOM
23. 2026-08-24
    days on market $364,900 Active 88 DOM
24. 2026-08-23
    days on market $364,900 Active 87 DOM
25. 2026-08-22
    days on market $364,900 Active 86 DOM
26. 2026-08-21
    days on market $364,900 Active 85 DOM
27. 2026-08-20
    days on market $364,900 Active 84 DOM
28. 2026-08-19
    days on market $364,900 Active 83 DOM
29. 2026-08-18
    days on market $364,900 Active 82 DOM
30. 2026-08-17
    days on market $364,900 Active 81 DOM
31. 2026-08-16
    days on market $364,900 Active 80 DOM
32. 2026-08-15
    days on market $364,900 Active 79 DOM
33. 2026-08-14
    days on market $364,900 Active 78 DOM
34. 2026-08-13
    days on market $364,900 Active 77 DOM
35. 2026-08-12
    days on market $364,900 Active 76 DOM
36. 2026-08-11
    days on market $364,900 Active 75 DOM
37. 2026-08-10
    days on market $364,900 Active 74 DOM
38. 2026-08-09
    days on market $364,900 Active 73 DOM
39. 2026-08-08
    days on market $364,900 Active 72 DOM
40. 2026-08-07
    days on market $364,900 Active 71 DOM
41. 2026-08-06
    days on market $364,900 Active 70 DOM
42. 2026-08-05
    days on market $364,900 Active 69 DOM
43. 2026-08-04
    days on market $364,900 Active 68 DOM
44. 2026-08-03
    days on market $364,900 Active 67 DOM
45. 2026-07-31
    days on market $364,900 Active 64 DOM
46. 2026-07-30
    days on market $364,900 Active 63 DOM
47. 2026-07-30
    days on market $364,900 Active 62 DOM
48. 2026-07-28
    days on market $364,900 Active 61 DOM
49. 2026-07-26
    days on market $364,900 Active 59 DOM
50. 2026-07-24
    days on market $364,900 Active 57 DOM

ⓘ 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 5/10 Major FEMA zone X (unshaded) · 24% 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,774
• − Mortgage interest: −$20,440
• − Property taxes: −$5,474
• − Insurance: −$1,824
• − Repairs & maintenance: −$1,582
• − Management: −$1,582
• − Depreciation: −$10,615
• Taxable loss: −$21,743
• Est. tax savings @ 24.0%: +$5,218
• After-tax cash flow: $-9,421/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

Good 75/100 Cosmetic rehab Est. rehab $24,000–$72,000 screening

This multi-family property is in good condition with cosmetic updates needed to modernize the kitchen and bathrooms. The property is fully occupied and generating strong rental income, making it a solid investment opportunity.

Repairs flagged

• Minor kitchen cabinets — slight wear
• Minor bathroom cabinets — slight wear
• Minor kitchen countertops — slight wear

Value-add opportunities

• Both update kitchen cabinets and countertops — modernizing the kitchen would appeal to buyers and renters ↑
• Both update bathrooms with new fixtures and cabinets — modernizing the bathrooms would appeal to buyers and renters ↑
• Both paint interior walls — fresh paint would improve the home's curb appeal and interior aesthetics ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 6/100

Zoned Schools

Elementary Hayes Bilingual School F WI #957/1,041 Nat'l #40,092/41,679 High Pulaski High F WI #467/483 Nat'l #16,861/17,239

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

A Composite livability gradescore 81/100

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 · 995,758 people
• City population: 573,768
• Metro: Milwaukee-Waukesha, WI
• Population (ZIP): 58,146
• Household income: $54,289
• Rent vs Own: 52.6% rent · 47.4% own
• Severe rent burden: 11% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (69%)
• Race & ethnicity: Hispanic / Latino 69% Two or more races 34% White 18% Asian 6% Black 5% Native American 2%
• Hispanic origin (detail): Mexican 52% Puerto Rican 12%
• Common ancestry: Romanian 6% Portuguese 1%
• Foreign-born: 31% · Canada, Philippines, Jamaica
• Languages at home: 35% English-only · Spanish 59% Other Asian/Pacific 3% Other Indo-European 1%

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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: ▼ -52.55%
• Current HPI: 332.891
• Rent YoY: ▲ 5.02%
• Metro: Milwaukee-Waukesha, WI
• State GDP YoY: ▲ 2.10%
• F500 in state: 20

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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

Property features AI

Exterior

• Parking: Detached 3-car garageOne additional parking space
• Utilities: Municipal waterMunicipal sewer
• Home design: Two-story single-family home
• Construction: Information source for year built from assessor/public record
• Exterior features: Aluminum/aluminum-steel exteriorLot less than 1/2 acre (approx. 0.11 acre)

Interior

• Kitchen: Kitchen on main level (approx. 10 x 10)
• Bedrooms: Master bedroom on main level (approx. 11 x 10)Bedroom 2 on main level (approx. 10 x 12)Bedroom 3 on upper level (approx. 10 x 12)Bedroom 4 on upper level (approx. 11 x 10)Bedroom 5 on upper level (approx. 10 x 12)
• Bathrooms: Five full bathrooms
• Heating & cooling: Forced air heatingNatural gas heating
• Interior features: Poured concrete basement

Price history

-2.7% since first listed

2 events — show timeline

• 2026-06-11 Price Changed $364,900 METROMLS
• 2026-05-28 Listed $375,000 METROMLS