2729 N 36th St · Milwaukee, WI 53210

$185,000

None bd · None ba · — sqft · MultiFamily · 14 Days on market

Built 1915 Fair condition 4,791 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
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +3.5/5.0
• Condition / age +2.2/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Triplex ready for a new owner. Currently rented at $2,675 per month. Two units have recent updates. Add this one to your portfolio.

Key facts

• 4,791 sq ft lot
• Built 1915
• Listed 14 days

Property features AI

Finance

• Other: Inclusions: three fridges, three stoves; Exclusions: tenants' personal property; Property located in the City of Milwaukee

Exterior

• Parking: Outdoor parking; Indoor parking; Outside parking spaces
• Utilities: Municipal water; Municipal sewer
• Home design: Multi-family property (Duplex+ configuration); 3–4 stories; Zoning: RT2
• Construction: Information source lists year built from assessor/public record
• Exterior features: Vinyl exterior; Wood exterior; Lot smaller than 1/2 acre

Interior

• Kitchen: Includes three refrigerators; Includes three stoves
• Heating & cooling: Individual heating units; Natural gas heat
• Interior features: Full basement; Three-unit building

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $185k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $380/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $185k).
• Cap rate 13.7% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $3,062/mo this rent would consume 76% of the median local household income ($48k/yr) (locally 1730% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 $52k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $185,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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 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: 1.66% ✓
• Cap rate: 13.69%
• Cash-on-cash: 26.42%
• DSCR: 2.18
• GRM: 5.0

CMA / ARV

No comps found within radius.

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2857 N 34th St #2859	0.21mi	6/2.0	2,314	1mo	$135,000	$58	77
2631 N 33rd St #2633	0.22mi	4/2.0	2,470	1mo	$72,500	$29	76
2873 N 34th St #2875	0.23mi	4/2.0	1,888	1mo	$108,500	$57	76
2400 N 35th St #2402	0.42mi	5/2.0	1,994	1mo	$65,000	$33	67
3068 N 34th St Unit 3068A	0.46mi	5/2.0	2,087	0mo	$110,000	$53	66
3233 W Auer Ave	0.61mi	4/2.0	1,657	1mo	$78,500	$47	58
2972 N 28th St	0.62mi	4/2.0	1,757	0mo	$141,806	$81	58
2873 N 26th St #2875	0.66mi	6/2.0	2,488	1mo	$103,000	$41	56
2200 N 42nd St #2202	0.72mi	6/2.0	2,565	0mo	$37,000	$14	54
3127 W Garfield Ave #3129	0.72mi	5/2.0	2,332	0mo	$130,000	$56	54
2118 N 38th St #2120	0.74mi	4/2.0	2,341	0mo	$62,500	$27	53
2137 N 31st St	0.75mi	5/2.0	1,919	1mo	$138,500	$72	52

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: 21.2%
• Equity multiple: 1.87×
• Total profit: $45,253
• Equity at exit: $27,584

10-year hold

• IRR: 29.8%
• Equity multiple: 3.78×
• Total profit: $143,754
• Equity at exit: $15,995

Cash invested: $51,800 (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: 15.1×

Monthly cashflow live

• Estimated rent: $3,062 high
• Mortgage (P&I): −$970
• Tax est. 1.5%: −$231 /mo · $2,775/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$643
• Net cashflow: $1,140

Break-even live

Break-even rent $1,618

Max offer price $185,000

Occupancy floor 58%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$3,063
Total (3 units)			$3,062

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2776 N 35th St Unit 8 Milwaukee, WI	1.0	1.0	—	$725	—	43d	1	0.11mi
2776 N 35th St Apt 5 Milwaukee, WI	1.0	1.0	—	$750	—	10d	1	0.11mi
2660 N 37th St Milwaukee, WI	3.0	1.0	—	$1,095	—	23d	1	0.11mi
2706 N 39th St Unit 2706 Milwaukee, WI	2.0	1.0	866	$845	$0.98	43d	1	0.16mi
2867 N 37th St #2869 Milwaukee, WI	2.0	1.0	—	$995	—	16d	1	0.16mi
2869 N 37th St Milwaukee, WI	2.0	1.0	—	$995	—	20d	1	0.16mi
2646 N 34th St Unit 2646A Upper Milwaukee, WI	2.0	1.0	609	$895	$1.47	23d	1	0.20mi
2866 N 34th St Unit 2866A Milwaukee, WI	2.0	1.0	534	$895	$1.68	43d	1	0.22mi
2866 N 34th St Unit 2866 Milwaukee, WI	3.0	1.0	534	$1,095	$2.05	4d	1	0.22mi
2767 N 40th St #2769 Milwaukee, WI	2.0	1.0	—	$1,199	—	43d	1	0.24mi
2550 N 36th St Unit 2550A Upper Milwaukee, WI	2.0	1.0	711	$845	$1.19	23d	1	0.25mi
2571 N 34th St Unit 2571A Milwaukee, WI	2.0	1.0	—	$895	—	4d	1	0.25mi
2530 N 37th St Milwaukee, WI	2.0	1.0	1037	$1,000	$0.96	14d	1	0.28mi
3100 W Center St Milwaukee, WI	3.0	2.0	1174	$1,531	$1.30	1d	1	0.29mi
2566 N 40th St Milwaukee, WI	2.0	1.0	—	$1,100	—	43d	1	0.31mi
2512 N 41st St #2514 Milwaukee, WI	2.0	1.0	1007	$1,200	$1.19	43d	1	0.40mi
3109 N 38th St Unit 10 Milwaukee, WI	1.0	1.0	—	$750	—	43d	1	0.46mi
2403-2405 N 39th St Unit 2403 Lower Milwaukee, WI	3.0	1.0	1200	$995	$0.83	10d	1	0.48mi
2403-2405 N 39th St Unit 2405 Upper Milwaukee, WI	3.0	1.0	1141	$995	$0.87	10d	1	0.48mi
2712 N 44th St Unit 2712A Milwaukee, WI	2.0	1.0	911	$995	$1.09	23d	1	0.48mi
2909-2911 N 29th St Unit 2911 Milwaukee, WI	3.0	1.0	—	$995	—	43d	1	0.49mi
3127 N 34th St Milwaukee, WI	2.0	1.0	2	$1,050	$525.00	16d	1	0.49mi
2909 N 29th St Unit 2909 Milwaukee, WI	2.0	1.0	—	$1,000	—	43d	1	0.49mi
2870 N 29th St #2872 Milwaukee, WI	3.0	1.0	1300	$1,250	$0.96	43d	1	0.51mi
2931 W Chambers St Milwaukee, WI	2.0	1.0	1400	$1,050	$0.75	23d	1	0.51mi
2713 N 44th St Milwaukee, WI	3.0	1.0	1450	$1,350	$0.93	43d	1	0.51mi
3124 N 33rd St Milwaukee, WI	2.0	1.0	1200	$1,200	$1.00	43d	1	0.52mi
2663 N 44th St Unit 1 Milwaukee, WI	2.0	1.0	900	$995	$1.11	43d	1	0.52mi
3148 N 39th St Unit 1 Milwaukee, WI	2.0	1.0	1000	$1,100	$1.10	14d	1	0.52mi
3148 N 39th St Milwaukee, WI	2.0	1.0	1100	$1,100	$1.00	43d	1	0.52mi
2607-2609 N 44th St Milwaukee, WI	3.0	1.0	—	$1,200	—	43d	1	0.54mi
2809 W Clarke St Unit 12811 Milwaukee, WI	3.0	1.0	1400	$1,200	$0.86	16d	1	0.55mi
3122 N 42nd St Milwaukee, WI	3.0	1.0	1323	$1,495	$1.13	4d	1	0.57mi
3179 N 39th St Milwaukee, WI	1.0	1.0	800	$850	$1.06	1d	1	0.57mi
3179 N 39th St Unit 3907AUER Milwaukee, WI	1.0	1.0	800	$750	$0.94	2d	1	0.57mi
2769 N 27th St Unit 2 Milwaukee, WI	2.0	1.0	—	$1,100	—	19d	1	0.58mi
2769 N 27th St Unit 1 Milwaukee, WI	2.0	1.0	—	$1,100	—	43d	1	0.58mi
2729 N 27th St Unit 2729 Milwaukee, WI	2.0	1.0	—	$850	—	43d	1	0.58mi
3133 N 42nd St Milwaukee, WI	3.0	1.0	1	$1,300	$1300.00	43d	1	0.59mi
2530 N 28th St Unit 2530 Lower Milwaukee, WI	2.0	1.0	764	$995	$1.30	14d	1	0.60mi

Listing history 12 events

1. 2026-06-18
   days on market $185,000 Active 14 DOM
2. 2026-06-17
   days on market $185,000 Active 13 DOM
3. 2026-06-16
   days on market $185,000 Active 12 DOM
4. 2026-06-15
   days on market $185,000 Active 11 DOM
5. 2026-06-13
   days on market $185,000 Active 9 DOM
6. 2026-06-13
   days on market $185,000 Active 8 DOM
7. 2026-06-09
   days on market $185,000 Active 5 DOM
8. 2026-06-08
   status $185,000 Active 4 DOM
9. 2026-06-08
   status $185,000 Pending 4 DOM
10. 2026-06-07
    days on market $185,000 Active 4 DOM
11. 2026-06-05
    remarks 131-char remark
12. 2026-06-05
    listed $185,000 Active 1 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 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: $36,744
• − Mortgage interest: −$10,363
• − Property taxes: −$2,775
• − Insurance: −$925
• − Repairs & maintenance: −$2,940
• − Management: −$2,940
• − Depreciation: −$5,382
• Taxable income: $11,420
• Est. tax owed @ 24.0%: −$2,741
• After-tax cash flow: $10,945/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 · 3 photos

Fair 45/100 Moderate rehab

The property is in fair condition with moderate rehabilitation needs. Repainting the exterior and improving landscaping would significantly enhance its value.

Repairs flagged

• Minor Exterior paint — The exterior shows some discoloration.
• Minor Roof inspection — No major damage is visible, but a thorough inspection is recommended.

Value-add opportunities

• Both Paint exterior — Fresh paint can improve curb appeal and property value.
• Both Landscaping improvements — A well-maintained yard can enhance the property's appeal and value.
• Rental HVAC inspection and maintenance — A functional HVAC system is crucial for tenant satisfaction and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior paint · The exterior shows some discoloration.	Minor	$500–3,000
Roof inspection · No major damage is visible, but a thorough inspection is recommended.	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint exterior — Fresh paint can improve curb appeal and property value. ↑
• Both Landscaping improvements — A well-maintained yard can enhance the property's appeal and value. ↑
• Rental HVAC inspection and maintenance — A functional HVAC system is crucial for tenant satisfaction and rental value. ↑

ⓘ 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): 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

7 events — show timeline

• 2026-06-03 Listed $185,000 METROMLS
• 2024-05-18 Rental Removed $945 APPFOLIO
• 2024-05-09 Listed for Rent $945 APPFOLIO
• 2024-04-18 Rental Removed $995 APPFOLIO
• 2024-04-12 Listed for Rent $995 APPFOLIO
• 2024-04-10 Rental Removed $995 APPFOLIO
• 2024-04-05 Listed for Rent $995 APPFOLIO