825 Kurtis Dr · Elm Grove, WI 53122

$400,000

3 bd · 1.5 ba · 1,834 sqft · SingleFamily · 1 Days on market

Built 1951 0.37 ac lot Est $510k · 22% under

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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 +23.0/30.0
• ARV discount +15.0/15.0
• DSCR +7.4/10.0
• 1% rule +5.7/10.0
• Schools +5.5/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Unique opportunity to own a 3 bed, 1.5 bath ranch in a very desirable area of Elm Grove. This home has adorable curb appeal and a spacious back yard. The heart of the village is minutes away. Bring your imagination. Property is being sold AS-IS.

Key facts

• 0.37 acre lot
• 2 garage spots
• Built 1951

Property features AI

Finance

• Other: Stove, refrigerator, dishwasher, disposal, washer, dryer included; water softener is rented

Exterior

• Parking: Attached 2-car garage with opener
• Utilities: Municipal sewer; Well water; Natural gas
• Home design: Single-family, 1-story home; Finished above grade approximately 1,834 sq ft
• Construction: Full basement (block); Brick/stone construction
• Exterior features: Brick and brick/stone exterior; Lot less than 1/2 acre (approximately 0.37 acre); Zoned RES

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator; Garbage disposal
• Bedrooms: Master bedroom (Main) — 16 x 12; Bedroom 2 (Main) — 15 x 15; Bedroom 3 (Main) — 14 x 11
• Flooring: Wood floors
• Bathrooms: One full bath with shower over tub; One half bath
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Cable/satellite available; Wood floors; Full basement with block construction and sump pump
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $400k.

Deal economics

• At list price, monthly cash flow is $709 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $400k).
• Cap rate 8.4% vs local median 2.9% in Elm Grove — 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 85/100 on livability (#26 in WI, #471 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, cost of living F.
• Elmbrook School District (suburban): math 61% / reading 60% proficiency, ranked #14 of 342 in WI (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 8% free/reduced lunch — higher-income household profile.
• Zoned schools: Tonawanda Elementary (math 72% / reading 67%, grade A-, #24 of 1,041 statewide, top 3%, 525 students, 9% FRL); Brookfield East High (math 55% / reading 60%, grade C, #16 of 483 statewide, top 3%, 1,362 students, 8% FRL) — zoned schools at 8% FRL track the district average.
• Market conditions: 28 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 1,885 units permitted in Waukesha County in 2024 (696 in 5+ unit buildings).
• This rent runs 32% of the median local income ($158k/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 $12k of value loss. Plan a longer hold.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $400,000

Questions for the listing agent

1. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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.
5. 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.
6. 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: 1.07% ✓
• Cap rate: 8.42%
• Cash-on-cash: 7.60%
• DSCR: 1.34
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $509,852
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
825 Kurtis Dr	0.00mi	3/1.5	1,834 (0%)	0mo	$505,600	$276	100
820 Madera Cir	0.22mi	3/2.0	1,796 (-2%)	0mo	$720,000	$401	84
885 Madera Cir	0.17mi	3/2.0	1,943 (+6%)	9mo	$600,000	$309	73
15100 Froedtert Dr	0.59mi	3/1.5	1,752 (-4%)	4mo	$487,000	$278	61
640 Crystal Ln	0.32mi	3/2.0	1,988 (+8%)	11mo	$472,500	$238	60
14635 Wisconsin Ave	0.30mi	3/2.0	2,039 (+11%)	7mo	$600,000	$294	59
455 Lynnwood Ln	0.57mi	3/1.0	1,843 (+0%)	15mo	$439,269	$238	58
645 Hi View Ct	0.28mi	3/2.0	1,630 (-11%)	11mo	$559,900	$343	57
260 Lynnwood Ln	0.65mi	4/1.5 (+1)	1,807 (-2%)	6mo	$397,000	$220	57
15005 Wisconsin Ave	0.52mi	3/1.5	1,708 (-7%)	10mo	$485,000	$284	56
14905 Walters Ct	0.42mi	3/2.0	2,019 (+10%)	10mo	$555,000	$275	53
145 Lynnwood Ln	0.74mi	2/2.0 (-1)	1,791 (-2%)	2mo	$470,000	$262	53

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -4.7%
• Equity multiple: 0.82×
• Total profit: $-19,629
• Equity at exit: $59,641

10-year hold

• IRR: 5.0%
• Equity multiple: 1.37×
• Total profit: $41,112
• Equity at exit: $34,585

Cash invested: $112,000 (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 53122

• Active inventory: 28
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $4,277 medium
• Mortgage (P&I): −$2,098
• Tax from tax record: −$405 /mo · $4,861/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$898
• Net cashflow: $709

Break-even live

Break-even rent $3,379

Max offer price $400,000

Occupancy floor 78%

Sensitivity live

Price	-10% $936	-5% $823	+0% $709	+5% $596	+10% $483
Rent	-10% $372	-5% $540	+0% $709	+5% $878	+10% $1,047
Rate	-1.0pp $911	-0.5pp $811	base $709	+0.5pp $606	+1.0pp $500

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: $100,000
• Closing costs: $12,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13125 Watertown Plank Rd Elm Grove, WI	2.0–3.0	2.0	1485	$4,285	$2.88	2d	9	0.78mi
355 S Moorland Rd Brookfield, WI	3.0	1.0–2.0	986	$3,509	$3.56	2d	31	1.43mi

Listing history 4 events

1. 2026-05-15
   status Pending
2. 2026-05-14
   historical Contingent
3. 2026-05-14
   listed $400,000 Active
4. 2026-05-08
   historical $400,000

ⓘ 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: $4,861 · $405/mo
• Projected year-2 tax: $6,131 · $511/mo
• Expected delta: +$1,269/yr (+$106/mo · 26.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥101°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $51,324
• − Mortgage interest: −$22,406
• − Property taxes: −$4,861
• − Insurance: −$2,000
• − Repairs & maintenance: −$4,106
• − Management: −$4,106
• − Depreciation: −$11,636
• Taxable income: $2,208
• Est. tax owed @ 24.0%: −$530
• After-tax cash flow: $7,983/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: Elmbrook School District
• NCES district ID: 5501770
• Math proficiency: 61% ▼ -7.00%
• Reading proficiency: 60% ▼ -1.00%
• Median HH income: $91,055
• Composite: 55.43/100
• National rank: #1249
• State rank: #14 of 342 in WI

Livability — Elm Grove

• Score: 85/100
• State rank: #26
• US rank: #471

Category grades

Amenities F Commute A- Cost of living F Crime A+ Employment A+ Housing A+ Health & safety B- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elm Grove, WI
• County: Waukesha County · 231,951 people
• City population: 6,508
• Metro: Milwaukee-Waukesha, WI
• Population (ZIP): 6,508
• Household income: $157,962
• Rent vs Own: 11.4% rent · 88.6% own
• Severe rent burden: 54.0

Population outlook (Waukesha County) Hauer SSP2

• Today (2025): 412,798 people
• By 2030: 418,092 · +1.3%
• By 2040: 420,872 · +2.0%
• By 2050: 413,862 · +0.3%
• By 2075: 402,782 · -2.4%
• By 2100: 365,796 · -11.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 4% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 13% Portuguese 4% Lithuanian 4%
• Foreign-born: 3% · China, South Korea
• Languages at home: 96% English-only · Chinese 1% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Waukesha

• 2024 margin: R (+19.8) · D 39.5% · R 59.2% · Other 1.3%
• 2008→2024 swing: +5.9pp toward D · 2008: -25.7pp · 2024: -19.8pp
• All cycles: 2024: R+19.8 2020: R+20.8 2016: R+27.1 2012: R+34.8 2008: R+25.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -143.55%
• Current HPI: 253.6601
• Rent YoY: —
• 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

• 2026-05-15 Pending — METROMLS
• 2026-05-14 Contingent — METROMLS
• 2026-05-14 Listed $400,000 METROMLS
• 2026-05-08 Coming Soon $400,000 METROMLS

Property tax history

+0.0%/yr

Latest (2024): $4,861 · +1.2% YoY. Source: county tax records.