3918 N 24th St #3920 · Milwaukee, WI 53206

$96,900

4 bd · 2.0 ba · 1,981 sqft · MultiFamily · 50 Days on market

Built 1924 Fair condition 4,356 sqft lot $49/sqft · at area comps Est $101k · at est.

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Why this score? — see what drove the A- 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 +9.1/15.0
• Rent growth +4.6/5.0
• Livability +4.0/5.0
• Condition / age +2.2/5.0
• Schools +1.2/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Here's a nicely maintained duplex with some updates and an opportunity for you to become a homeowner, a real estate investor and a Landlord all in one day! You can rent out one unit and live in the other one. Or, investors can rent out both units to get instant cash flow with room to grow the rents. Both Tenants are on a mtm lease. Property Management is already in place and will be happy to stay on. Don't delay! Make your appointment to see this beauty today! Seller is open to a rent-to-own option for qualified individuals, with a lease term of up to 6 months. Property Photo has been virtually enhanced

Key facts

• 4,356 sq ft lot
• 2 garage spots
• Built 1924

Property features AI

Finance

• Financial info: Property is a multi-family duplex with two units

Exterior

• Parking: Detached 2-car garage (2 garage parking spaces)
• Utilities: Municipal water; Municipal sewer; 2 electric meters; 2 gas meters
• Home design: 2-story duplex; Multi-family property; Zoned residential; Lot is less than 1/2 acre (approximately 0.1 acre)
• Construction: Information source for year built: Assessor/Public Record
• Exterior features: Aluminum/steel exterior; Aluminum siding

Interior

• Kitchen: Unit 2 kitchen located on upper level
• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 2 bedrooms (master and second bedroom on upper level)
• Bathrooms: Unit 1: 1 full bathroom; Unit 2: 1 full bathroom
• Interior features: Full basement
• Laundry & utility: Separate electric and gas meters (2 electric meters, 2 gas meters)

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $97k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $883 ($11k/yr) — positive. Per door: $442/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $97k).
• Recommended offer: $94k (3.0% below list) — sets the bar for market timing.
• Cap rate 17.2% 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); 150 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).
• At $1,966/mo this rent would consume 80% of the median local household income ($29k/yr) (locally 2061% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $10k of equity ($670 loan paydown + $10k 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 $27k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, 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 50 days — a 3% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y ago 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: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $93,993 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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 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: 2.03% ✓
• Cap rate: 17.23%
• Cash-on-cash: 39.08%
• DSCR: 2.74
• GRM: 4.1

CMA / ARV

• ARV (median comp): $100,504
• List price: $96,900
• Delta: -3.59%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4105 N 24th St #4107	0.23mi	4/2.0	1,988 (+0%)	3mo	$180,000	$91	87
4045 N 26th St Unit 4045A	0.27mi	4/2.0	1,963 (-1%)	2mo	$66,100	$34	84
3607 N 20th St	0.40mi	4/2.0	2,046 (+3%)	2mo	$115,000	$56	74
2022 W Keefe Ave Unit 2022A	0.45mi	4/2.0	1,914 (-3%)	1mo	$55,000	$29	73
4215 N 26th St #4217	0.39mi	4/2.0	2,080 (+5%)	2mo	$190,000	$91	72
3381 N 22nd St	0.54mi	4/2.0	2,043 (+3%)	3mo	$49,900	$24	67
4047 N 19th St #4049	0.40mi	4/2.0	1,815 (-8%)	2mo	$134,900	$74	66
4246 N 21st St	0.51mi	3/2.0 (-1)	2,033 (+3%)	2mo	$194,900	$96	65
2450 W Keefe Ave #2452	0.41mi	3/2.0 (-1)	1,831 (-8%)	1mo	$35,000	$19	62
3748 N 17th St	0.54mi	4/2.0	2,161 (+9%)	2mo	$80,000	$37	58
3905 N 13th St #3907	0.73mi	4/2.0	1,884 (-5%)	2mo	$144,500	$77	56
3382 N 23rd St #3384	0.53mi	4/2.0	2,266 (+14%)	0mo	$152,435	$67	51

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: 57.9%
• Equity multiple: 5.40×
• Total profit: $119,464
• Equity at exit: $87,295

10-year hold

• IRR: 53.5%
• Equity multiple: 13.29×
• Total profit: $333,349
• Equity at exit: $188,255

Cash invested: $27,132 (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: 150
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,966 high
• Mortgage (P&I): −$508
• Tax est. 1.5%: −$121 /mo · $1,454/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$413
• Net cashflow: $883

Break-even live

Break-even rent $848

Max offer price $96,900

Occupancy floor 50%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,966
Total (2 units)			$1,966

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: $24,225
• Closing costs: $2,907
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2116 W Atkinson Ave Unit A Milwaukee, WI	4.0	1.0	1707	$2,000	$1.17	1d	1	0.31mi
2106A W Keefe Ave Unit 2106 Lower Milwaukee, WI	3.0	1.0	1300	$1,100	$0.85	17d	1	0.41mi
2704 W Concordia Ave Unit Na Milwaukee, WI	5.0	2.0	1856	$2,500	$1.35	23d	1	0.66mi
3925 N 42nd St Milwaukee, WI	3.0	1.0	1300	$1,675	$1.29	44d	1	1.19mi
2870 N 29th St #2872 Milwaukee, WI	3.0	1.0	1300	$1,250	$0.96	44d	1	1.22mi
3122 N 42nd St Milwaukee, WI	3.0	1.0	1323	$1,495	$1.13	4d	1	1.45mi
3123 N 42nd St Milwaukee, WI	4.0	1.0	1500	$1,700	$1.13	23d	1	1.48mi

Listing history 26 events

1. 2026-06-18
   days on market $96,900 Active 50 DOM
2. 2026-06-17
   days on market $96,900 Active 49 DOM
3. 2026-06-16
   days on market $96,900 Active 48 DOM
4. 2026-06-15
   days on market $96,900 Active 47 DOM
5. 2026-06-13
   days on market $96,900 Active 45 DOM
6. 2026-06-13
   days on market $96,900 Active 44 DOM
7. 2026-06-09
   days on market $96,900 Active 41 DOM
8. 2026-06-08
   days on market $96,900 Active 40 DOM
9. 2026-06-07
   days on market $96,900 Active 39 DOM
10. 2026-06-05
    days on market $96,900 Active 36 DOM
11. 2026-06-03
    pricedays on market $96,900 Active 35 DOM
12. 2026-06-02
    days on market $99,900 Active 34 DOM
13. 2026-06-01
    days on market $99,900 Active 33 DOM
14. 2026-05-31
    days on market $99,900 Active 32 DOM
15. 2026-04-28
    listed $99,900 Active 266-char remark
16. 2026-04-11
    historical 610-char remark

    Show marketing remark (610 chars)

    Here's a nicely maintained duplex with some updates and an opportunity for you to become a homeowner, a real estate investor and a Landlord all in one day! You can rent out one unit and live in the other one. Or, investors can rent out both units to get instant cash flow with room to grow the rents. Both Tenants are on a mtm lease. Property Management is already in place and will be happy to stay on. Don't delay! Make your appointment to see this beauty today! Seller is open to a rent-to-own option for qualified individuals, with a lease term of up to 6 months. Property Photo has been virtually enhanced

17. 2026-03-03
    listed $119,900 Active 610-char remark

    Show marketing remark (610 chars)

    Here's a nicely maintained duplex with some updates and an opportunity for you to become a homeowner, a real estate investor and a Landlord all in one day! You can rent out one unit and live in the other one. Or, investors can rent out both units to get instant cash flow with room to grow the rents. Both Tenants are on a mtm lease. Property Management is already in place and will be happy to stay on. Don't delay! Make your appointment to see this beauty today! Seller is open to a rent-to-own option for qualified individuals, with a lease term of up to 6 months. Property Photo has been virtually enhanced

18. 2025-09-25
    status Pending

    Show marketing remark (567 chars)

    Here's a nicely maintained duplex with some updates and an opportunity for you to become a homeowner, a real estate investor and a Landlord all in one day! You can rent out one unit and live in the other one. Or, investors can rent out both units to get instant cash flow with room to grow the rents. Both Tenants are on a mtm lease. Property Management is already in place and will be happy to stay on. Don't delay! Make your appointment to see this beauty today! Seller is open to a rent-to-own option for qualified individuals, with a lease term of up to 6 months.

19. 2025-09-25
    historical

    Show marketing remark (567 chars)

    Here's a nicely maintained duplex with some updates and an opportunity for you to become a homeowner, a real estate investor and a Landlord all in one day! You can rent out one unit and live in the other one. Or, investors can rent out both units to get instant cash flow with room to grow the rents. Both Tenants are on a mtm lease. Property Management is already in place and will be happy to stay on. Don't delay! Make your appointment to see this beauty today! Seller is open to a rent-to-own option for qualified individuals, with a lease term of up to 6 months.

20. 2025-07-25
    listed $129,900 Active

    Show marketing remark (567 chars)

    Here's a nicely maintained duplex with some updates and an opportunity for you to become a homeowner, a real estate investor and a Landlord all in one day! You can rent out one unit and live in the other one. Or, investors can rent out both units to get instant cash flow with room to grow the rents. Both Tenants are on a mtm lease. Property Management is already in place and will be happy to stay on. Don't delay! Make your appointment to see this beauty today! Seller is open to a rent-to-own option for qualified individuals, with a lease term of up to 6 months.

21. 2025-03-12
    status Pending
22. 2025-03-12
    historical
23. 2025-02-25
    listed $119,900 Active
24. 2024-03-27
    soldstatus $90,000 Sold
25. 2024-02-09
    historical Contingent
26. 2024-01-09
    listed $89,900 Active

ⓘ 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 ≥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: $23,592
• − Mortgage interest: −$5,428
• − Property taxes: −$1,454
• − Insurance: −$484
• − Repairs & maintenance: −$1,887
• − Management: −$1,887
• − Depreciation: −$2,819
• Taxable income: $9,632
• Est. tax owed @ 24.0%: −$2,312
• After-tax cash flow: $8,290/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 · 6 photos

Fair 45/100 Moderate rehab

This 2/2 duplex requires moderate renovations to improve its condition and increase its value. Key areas for improvement include the kitchen, bathrooms, exterior landscaping, and interior walls.

Repairs flagged

• Major kitchen cabinets — Older cabinets in poor condition
• Major bathroom fixtures — Old fixtures in poor condition
• Major exterior landscaping — Overgrown lawn and cluttered yard
• Major interior walls — Worn paint and visible damage

Value-add opportunities

• Both Paint interior walls — Fresh paint can improve the home's appearance and appeal to buyers
• Both Replace kitchen cabinets — New cabinets can significantly improve the kitchen's functionality and aesthetic
• Both Replace bathroom fixtures — Upgraded fixtures can enhance the bathroom's functionality and appeal to buyers
• Both Landscaping and yard cleanup — A well-maintained exterior can improve the home's curb appeal and attract more potential buyers

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · Older cabinets in poor condition	Major	$15,000–50,000
bathroom fixtures · Old fixtures in poor condition	Major	$15,000–50,000
exterior landscaping · Overgrown lawn and cluttered yard	Major	$15,000–50,000
interior walls · Worn paint and visible damage	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint can improve the home's appearance and appeal to buyers ↑
• Both Replace kitchen cabinets — New cabinets can significantly improve the kitchen's functionality and aesthetic ↑
• Both Replace bathroom fixtures — Upgraded fixtures can enhance the bathroom's functionality and appeal to buyers ↑
• Both Landscaping and yard cleanup — A well-maintained exterior can improve the home's curb appeal and attract more potential buyers ↑

ⓘ 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): 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

+7.8% since first listed

13 events — show timeline

• 2026-06-03 Price Changed $96,900 METROMLS
• 2026-04-28 Listed $99,900 METROMLS
• 2026-04-11 Listing Removed — METROMLS
• 2026-03-03 Listed $119,900 METROMLS
• 2025-09-25 Pending — METROMLS
• 2025-09-25 Listing Removed — METROMLS
• 2025-07-25 Listed $129,900 METROMLS
• 2025-03-12 Pending — METROMLS
• 2025-03-12 Listing Removed — METROMLS
• 2025-02-25 Listed $119,900 METROMLS
• 2024-03-27 Sold (MLS) $90,000 METROMLS
• 2024-02-09 Contingent — METROMLS
• 2024-01-09 Listed $89,900 METROMLS