3127 N 37th St · Milwaukee, WI 53216

$49,500

4 bd · 1.0 ba · 890 sqft · SingleFamily public records · 81 Days on market

Built 1905 3,484 sqft lot $56/sqft · 45% below area Est $90k · 45% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +5.7/10.0
• Rent growth +4.3/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks MLS

This 4-bedroom, 1-bath Bungalow offers 890 square feet of comfortable living space in Sherman Park Neighborhood. Enjoy the nicely sized, fenced-in backyard, perfect for entertaining, pets, or simply relaxing outdoors. Conveniently located near Sherman Park and Washington High School, with easy access to local amenities. A great opportunity for homeowners and investors alike

Key facts

• Fenced-in backyard
• 3,484 sq ft lot
• Built 1905

Tags

• FENCED-IN BACKYARD
• EASY ACCESS TO LOCAL AMENITIES

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $733 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $47k (6.0% below list) — sets the bar for market timing.
• Cap rate 24.1% 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 (+7.0%/yr); 130 active listings in the ZIP; 8 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 35% of the median local income ($47k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $1k of equity ($342 loan paydown + $658 appreciation (1.3% local appreciation)).
• Milwaukee County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (1.3% appreciation + 7.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($47k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $46,530 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
8. 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.
9. 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: 2.75% ✓
• Cap rate: 24.07%
• Cash-on-cash: 63.51%
• DSCR: 3.83
• GRM: 3.0

CMA / ARV

• ARV (median comp): $90,052
• List price: $49,500
• Delta: -45.03%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3173 N 41st St	0.25mi	4/1.0	920 (+3%)	24mo	$72,000	$78	63
4227 W Bonny Pl	0.35mi	3/1.0 (-1)	982 (+10%)	11mo	$56,400	$57	52
2738 N 45th St	0.68mi	4/1.0	800 (-10%)	10mo	$95,000	$119	42
3710 N 36th St	0.61mi	3/1.0 (-1)	980 (+10%)	18mo	$124,900	$127	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.33% appreciation · 7.01% rent growth · sell at horizon

5-year hold

• IRR: 70.7%
• Equity multiple: 4.91×
• Total profit: $54,177
• Equity at exit: $17,750

10-year hold

• IRR: 72.9%
• Equity multiple: 11.33×
• Total profit: $143,182
• Equity at exit: $24,260

Cash invested: $13,860 (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 53216

• Home prices YoY: 0.3%
• Rents YoY: 7.0%
• Active inventory: 130
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,361 high
• Mortgage (P&I): −$260
• Tax est. 1.5%: −$62 /mo · $742/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $733

Break-even live

Break-even rent $433

Max offer price $49,500

Occupancy floor 41%

Sensitivity live

Price	-10% $768	-5% $751	+0% $733	+5% $716	+10% $699
Rent	-10% $626	-5% $680	+0% $733	+5% $787	+10% $841
Rate	-1.0pp $758	-0.5pp $746	base $733	+0.5pp $721	+1.0pp $708

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: $12,375
• Closing costs: $1,485
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2866 N 34th St Unit 2866 Milwaukee, WI	3.0	1.0	534	$1,095	$2.05	6d	1	0.39mi
2821 W Concordia Ave Milwaukee, WI	3.0	1.5	1098	$1,595	$1.45	3d	1	0.58mi
2765 N 26th St Unit 1 Milwaukee, WI	3.0	1.0	1125	$1,200	$1.07	6d	1	0.83mi
2945 N 23rd St Milwaukee, WI	3.0	1.0	1014	$1,195	$1.18	45d	1	0.97mi
2741 N 23rd St Unit 2 Milwaukee, WI	3.0	1.0	1000	$1,100	$1.10	18d	1	1.06mi
2741 N 23rd St Milwaukee, WI	3.0	1.0	900	$1,050	$1.17	16d	1	1.06mi
2201 N 32nd St Unit 2201 Milwaukee, WI	3.0	1.0	1100	$1,195	$1.09	18d	1	1.18mi
2232 N 44th St Unit 2234 Upper Milwaukee, WI	3.0	1.0	1000	$1,195	$1.20	45d	1	1.19mi

Listing history 19 events

1. 2026-06-21
   days on market $49,500 Active 81 DOM
2. 2026-06-18
   days on market $49,500 Active 78 DOM
3. 2026-06-17
   days on market $49,500 Active 77 DOM
4. 2026-06-16
   days on market $49,500 Active 76 DOM
5. 2026-06-15
   days on market $49,500 Active 75 DOM
6. 2026-06-13
   days on market $49,500 Active 73 DOM
7. 2026-06-13
   days on market $49,500 Active 72 DOM
8. 2026-06-09
   days on market $49,500 Active 69 DOM
9. 2026-06-08
   days on market $49,500 Active 68 DOM
10. 2026-06-07
    days on market $49,500 Active 67 DOM
11. 2026-06-05
    days on market $49,500 Active 64 DOM
12. 2026-06-03
    days on market $49,500 Active 63 DOM
13. 2026-06-02
    days on market $49,500 Active 62 DOM
14. 2026-06-01
    days on market $49,500 Active 61 DOM
15. 2026-05-31
    days on market $49,500 Active 60 DOM
16. 2026-04-01
    listed $49,500 Active 376-char remark

    Show marketing remark (376 chars)

    This 4-bedroom, 1-bath Bungalow offers 890 square feet of comfortable living space in Sherman Park Neighborhood. Enjoy the nicely sized, fenced-in backyard, perfect for entertaining, pets, or simply relaxing outdoors. Conveniently located near Sherman Park and Washington High School, with easy access to local amenities. A great opportunity for homeowners and investors alike

17. 2005-08-26
    soldstatus $54,000
18. 2004-04-02
    soldstatus $46,800
19. 1985-11-01
    soldstatus $13,800

ⓘ 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: $16,338
• − Mortgage interest: −$2,773
• − Property taxes: −$742
• − Insurance: −$248
• − Repairs & maintenance: −$1,307
• − Management: −$1,307
• − Depreciation: −$1,440
• Taxable income: $8,521
• Est. tax owed @ 24.0%: −$2,045
• After-tax cash flow: $6,757/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): 30,345
• Household income: $46,752
• Rent vs Own: 52.7% rent · 47.3% own
• Severe rent burden: 2202.0

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 (81%)
• Race & ethnicity: Black 81% White 9% Hispanic / Latino 5% Two or more races 5% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 1%
• Foreign-born: 3% · Canada, Philippines, China
• Languages at home: 93% English-only · Spanish 4% 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: ▲ 1.33%
• Current HPI: 381.0954
• Rent YoY: ▲ 7.01%
• 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

+258.7% since first listed

4 events — show timeline

• 2026-04-01 Listed $49,500 METROMLS
• 2005-08-26 Sold (Public Records) $54,000 Public Records
• 2004-04-02 Sold (Public Records) $46,800 Public Records
• 1985-11-01 Sold (Public Records) $13,800 Public Records

Property tax history

+13.7%/yr

Latest (2024): $9,688 · +9.9% YoY. Source: county tax records.