6505 N 107th St · Milwaukee, WI 53224

$150,000

3 bd · 1.5 ba · 1,607 sqft · SingleFamily public records · 38 Days on market

Built 1958 1.08 ac lot $93/sqft · 40% below area Est $249k · 40% under

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Why this score? — see what drove the C- 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 +16.1/30.0
• ARV discount +15.0/15.0
• 1% rule +6.7/10.0
• DSCR +5.0/10.0
• Rent growth +4.0/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

City Tax Foreclosure - 3BR, 1.5 BA Single Family Ranch w/ Attached Garage sitting on nice sized 1 acres lot. Home has 1,607 square feet, and more. City Scope of Essential Work is $20,600 Total scope of work is $22,600. Room and lot sizes are estimates & all information should be verified. Property being sold in 'as-is' condition. Bring flashlights & use caution when entering. Note: Property open to owner-occupant offers only first 30 days of listing

Key facts

• 1.08 acre lot
• Garage
• Built 1958

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $78 ($930/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $146k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.9% 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 (+6.0%/yr); 40 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 31% of the median local income ($68k/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 $1k of loan paydown is wiped out by about $4k 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 38 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.
• Current owner paid $80k; list at $150k implies a 88% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.7% of price; built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.17% ✓
• Cap rate: 6.91%
• Cash-on-cash: 2.21%
• DSCR: 1.10
• GRM: 7.1

CMA / ARV

• ARV (median comp): $249,264
• List price: $150,000
• Delta: -39.82%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6310 N 107th St	0.25mi	3/2.5	1,583 (-2%)	7mo	$305,000	$193	76
6401 N 106th St	0.14mi	3/2.0	1,453 (-10%)	2mo	$230,000	$158	74
6407 N 106th St	0.13mi	3/2.0	1,458 (-9%)	6mo	$225,000	$154	71
6172 N 116th St	0.67mi	3/1.5	1,618 (+1%)	6mo	$280,000	$173	62
6201 N 103rd St	0.45mi	3/1.5	1,727 (+8%)	8mo	$217,000	$126	60
11015 W Florist Ave	0.68mi	3/1.5	1,572 (-2%)	6mo	$265,000	$169	59
6371 N 118th St	0.70mi	3/2.0	1,611 (+0%)	8mo	$325,000	$202	58
6307 N 104th St	0.32mi	4/1.5 (+1)	1,378 (-14%)	0mo	$203,000	$147	56
10101 W Beechwood Ave	0.60mi	3/1.0	1,412 (-12%)	0mo	$270,000	$191	50
10301 W Vera Ave	0.70mi	3/2.0	1,756 (+9%)	1mo	$280,000	$159	49
6212 N 106th St	0.38mi	2/3.0 (-1)	1,392 (-13%)	2mo	$242,650	$174	48
10341 W Vera Ave	0.67mi	3/1.0	1,396 (-13%)	6mo	$320,000	$229	40

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 · 5.95% rent growth · sell at horizon

5-year hold

• IRR: -8.6%
• Equity multiple: 0.67×
• Total profit: $-13,801
• Equity at exit: $22,365

10-year hold

• IRR: 5.1%
• Equity multiple: 1.44×
• Total profit: $18,557
• Equity at exit: $12,969

Cash invested: $42,000 (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 53224

• Home prices YoY: -17.2%
• Rents YoY: 6.0%
• Active inventory: 40
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,758 high
• Mortgage (P&I): −$787
• Tax from tax record: −$462 /mo · $5,549/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $78

Break-even live

Break-even rent $1,660

Max offer price $150,000

Occupancy floor 91%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10518 W Jonen St Milwaukee, WI	3.0	1.5	1456	$1,500	$1.03	3d	1	0.15mi
10518 W Jonen St Milwaukee, WI	3.0	1.5	1456	$1,500	$1.03	4d	1	0.15mi
5824 N 117th St Milwaukee, WI	3.0	2.0	1146	$1,695	$1.48	4d	1	1.06mi
5721 N 94th St Milwaukee, WI	2.0	1.0	1050	$1,175	$1.12	14d	2	1.27mi
N72W12727 Good Hope Rd Unit B-214 Menomonee Falls, WI	2.0	2.0	1174	$1,995	$1.70	23d	1	1.40mi
N72W12929 Good Hope Rd Unit C-408 Menomonee Falls, WI	2.0	2.0	1322	$2,425	$1.83	23d	1	1.49mi
N72W12929 Good Hope Rd Unit C-228 Menomonee Falls, WI	2.0	2.0	1322	$2,350	$1.78	43d	1	1.49mi
N72W12929 Good Hope Rd Unit D2-110 Menomonee Falls, WI	2.0	2.0	1322	$2,295	$1.74	43d	1	1.49mi
N72W12929 Good Hope Rd Unit C-300 Menomonee Falls, WI	2.0	2.0	1278	$2,315	$1.81	23d	1	1.49mi
N72W12929 Good Hope Rd Unit D2-201 Menomonee Falls, WI	2.0	2.0	1207	$2,175	$1.80	23d	1	1.49mi
N72W12929 Good Hope Rd Unit D2-101 Menomonee Falls, WI	2.0	2.0	1207	$2,245	$1.86	19d	1	1.49mi
N72W12929 Good Hope Rd Unit D2-300 Menomonee Falls, WI	2.0	2.0	1207	$2,295	$1.90	19d	1	1.49mi
N72W12929 Good Hope Rd Unit C-301 Menomonee Falls, WI	2.0	2.0	1278	$2,315	$1.81	43d	1	1.49mi
N72W12929 Good Hope Rd Unit D1-212 Menomonee Falls, WI	2.0	2.0	1207	$2,245	$1.86	4d	1	1.49mi
N72W12929 Good Hope Rd Unit D1-200 Menomonee Falls, WI	2.0	2.0	1207	$2,175	$1.80	4d	1	1.49mi

Listing history 4 events

1. 2026-04-15
   listed $150,000 Active 466-char remark

   Show marketing remark (466 chars)

   City Tax Foreclosure - 3BR, 1.5 BA Single Family Ranch w/ Attached Garage sitting on nice sized 1 acres lot. Home has 1,607 square feet, and more. City Scope of Essential Work is $20,600 Total scope of work is $22,600. Room and lot sizes are estimates & all information should be verified. Property being sold in 'as-is' condition. Bring flashlights & use caution when entering. Note: Property open to owner-occupant offers only first 30 days of listing

2. 2026-04-06
   historical 235-char remark

   Show marketing remark (235 chars)

   This is a tax foreclosed property. For the first 30-days of the listing period, no offers below the listing price will be considered per Wisconsin Foreclosure Law. Owner Occupants will be prioritized. BIDS DUE March 30, 2026 AT 10:00am

3. 2026-02-23
   listed $278,800 Active 235-char remark

   Show marketing remark (235 chars)

   This is a tax foreclosed property. For the first 30-days of the listing period, no offers below the listing price will be considered per Wisconsin Foreclosure Law. Owner Occupants will be prioritized. BIDS DUE March 30, 2026 AT 10:00am

4. 1984-08-01
   soldstatus $79,900

ⓘ 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: $5,549 · $462/mo
• Projected year-2 tax: $5,549 · $462/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

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 ≥101°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: $21,099
• − Mortgage interest: −$8,402
• − Property taxes: −$5,549
• − Insurance: −$750
• − Repairs & maintenance: −$1,688
• − Management: −$1,688
• − Depreciation: −$4,364
• Taxable loss: −$1,341
• Est. tax savings @ 24.0%: +$322
• After-tax cash flow: $1,252/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): 21,223
• Household income: $67,803
• Rent vs Own: 49.7% rent · 50.3% own
• Severe rent burden: 1137.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: Black 57% White 18% Asian 13% Hispanic / Latino 7% Two or more races 7% Native American 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2% Dominican 1%
• Common ancestry: Romanian 2% Italian 2% Portuguese 1%
• Foreign-born: 7% · Canada
• Languages at home: 86% English-only · Spanish 6% Other Asian/Pacific 5% German/W. Germanic 1%

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: ▼ -66.27%
• Current HPI: 318.5025
• Rent YoY: ▲ 5.95%
• 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

+87.7% since first listed

4 events — show timeline

• 2026-04-15 Listed $150,000 METROMLS
• 2026-04-06 Listing Removed — METROMLS
• 2026-02-23 Listed $278,800 METROMLS
• 1984-08-01 Sold (Public Records) $79,900 Public Records

Property tax history

-1.1%/yr

Latest (2024): $5,549 · -18.3% YoY. Source: county tax records.