5242 N 29th St · Milwaukee, WI 53209

$23,750

3 bd · 1.0 ba · 1,080 sqft · SingleFamily public records · 8 Days on market

Built 1951 5,662 sqft lot $22/sqft · 81% below area ↓ 28% since listing

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.7/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

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 ONLY. BIDS DUE May 18th, 2026 AT 10:00am

Key facts

• 5,662 sq ft lot
• Built 1951
• Listed 8 days

Property features AI

Exterior

• Utilities: Municipal water; Municipal sewer
• Home design: Single-family, one-story home; Zoned RS6; Property located in Milwaukee city
• Construction: Less than 1/2 acre lot (approximately 0.13 acre); Year built from assessor/public record
• Exterior features: Aluminum and vinyl exterior

Interior

• Kitchen: Main-level kitchen (10 x 10)
• Bedrooms: Main-level master bedroom (10 x 10); Main-level additional living area (living room 10 x 10)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas)
• Interior features: Full basement
• Laundry & utility: Natural gas forced air heating

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $24k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $24k).
• Cap rate 57.0% 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 (+8.6%/yr); 168 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 37% of the median local income ($48k/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 $164 of loan paydown is wiped out by about $712 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 + 8.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 12y 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 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $23,750

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 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?
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 6.22% ✓
• Cap rate: 57.00%
• Cash-on-cash: 181.09%
• DSCR: 9.06
• GRM: 1.3

CMA / ARV

• ARV (median comp): $123,494
• List price: $23,750
• Delta: -74.98%
• 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
2709 W Villard Ave	0.12mi	2/1.0 (-1)	1,059 (-2%)	0mo	$143,000	$135	86
5281 N Teutonia Ave	0.11mi	3/1.0	1,012 (-6%)	2mo	$60,000	$59	83
2240 W Lawn Ave	0.45mi	3/1.5	1,082 (+0%)	3mo	$215,000	$199	75
5062 N 20th St	0.66mi	3/1.0	1,082 (+0%)	1mo	$181,300	$168	68
4946 N 26th St	0.40mi	3/1.0	982 (-9%)	3mo	$164,000	$167	64
4858 N 26th St	0.52mi	3/1.5	972 (-10%)	1mo	$120,000	$123	56
5565 N 32nd St	0.46mi	2/1.0 (-1)	966 (-11%)	3mo	$100,000	$104	54
5525 N Long Island Dr	0.59mi	3/1.0	963 (-11%)	3mo	$140,000	$145	52
3733 W Fairmount Ave	0.66mi	2/1.0 (-1)	1,000 (-7%)	1mo	$100,000	$100	51
4825 N 25th St	0.57mi	3/1.0	936 (-13%)	2mo	$188,000	$201	49
5549 N 33rd St	0.48mi	3/2.5	1,241 (+15%)	3mo	$176,000	$142	44
5730 N 35th St	0.74mi	2/1.0 (-1)	1,216 (+13%)	4mo	$162,000	$133	36

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 11.21×
• Total profit: $67,901
• Equity at exit: $3,541

10-year hold

• IRR: —
• Equity multiple: 27.63×
• Total profit: $177,071
• Equity at exit: $2,053

Cash invested: $6,650 (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 53209

• Rents YoY: 8.6%
• Active inventory: 168
• Price-to-rent: 1.3×

Monthly cashflow live

• Estimated rent: $1,478 high
• Mortgage (P&I): −$125
• Tax est. 1.5%: −$30 /mo · $356/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $1,004

Break-even live

Break-even rent $208

Max offer price $23,750

Occupancy floor 27%

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: $5,938
• Closing costs: $712
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5237 N 34th St Unit 5237 Lower Milwaukee, WI	2.0	1.0	956	$1,350	$1.41	23d	1	0.33mi
5032 N 32nd St Milwaukee, WI	3.0	2.0	1089	$1,750	$1.61	12d	1	0.33mi
5541 N 35th St #5543 Milwaukee, WI	3.0	1.0	1130	$1,195	$1.06	4d	1	0.54mi
5435 N 40th St Milwaukee, WI	2.0	1.0	850	$1,150	$1.35	17d	1	0.73mi
5884 N 35th St Milwaukee, WI	2.0	1.0	1200	$1,500	$1.25	43d	1	0.88mi
4651 N 36th St #4 Milwaukee, WI	2.0	1.0	747	$945	$1.27	23d	1	0.89mi
4334 W Eggert Pl Milwaukee, WI	4.0	1.0	1077	$1,695	$1.57	23d	1	0.95mi
4661 N 38th St Unit 4661 Milwaukee, WI	2.0	1.0	1000	$845	$0.84	14d	1	0.95mi
4340 W Eggert Pl Milwaukee, WI	4.0	1.0	1066	$1,695	$1.59	23d	1	0.96mi
5696 N 42nd St Milwaukee, WI	4.0	1.0	1023	$1,495	$1.46	23d	1	0.97mi
5165-5167 N 45th St Unit 5165 Milwaukee, WI	3.0	1.0	1020	$1,200	$1.18	17d	1	1.03mi
4610 W Eggert Pl #4612 Milwaukee, WI	3.0	1.0	852	$1,095	$1.29	23d	1	1.10mi
5050 N 47th St Milwaukee, WI	2.0	1.0	1092	$1,700	$1.56	43d	1	1.14mi
4355 N 28th St Milwaukee, WI	2.0	1.0	1118	$975	$0.87	21d	1	1.14mi
4702 N 44th St Milwaukee, WI	3.0	2.0	1050	$1,850	$1.76	43d	1	1.19mi
5073 N 48th St Milwaukee, WI	4.0	1.0	1152	$1,595	$1.38	14d	1	1.23mi
4703 N 45th St Milwaukee, WI	3.0	1.0	1031	$1,695	$1.64	23d	1	1.26mi
6110 N 39th St Milwaukee, WI	2.0	1.0	703	$1,395	$1.98	4d	1	1.27mi
3931 W Kaul Ave Milwaukee, WI	3.0	1.0	1400	$1,695	$1.21	43d	1	1.27mi
4852 N 48th St Unit 4852 Milwaukee, WI	2.0	1.0	830	$995	$1.20	2d	1	1.28mi
4727 N 46th St Milwaukee, WI	3.0	1.0	936	$1,700	$1.82	43d	1	1.29mi
6148 N 39th St Milwaukee, WI	2.0	1.0	792	$1,175	$1.48	43d	1	1.31mi
4227 N 26th St Milwaukee, WI	2.0	1.0	950	$1,000	$1.05	17d	1	1.36mi
4479A N 44th St Milwaukee, WI	2.0	1.0	1000	$895	$0.90	43d	1	1.39mi
1633 W Bender Rd Apt 11C Glendale, WI	2.0	2.0	1000	$1,725	$1.73	23d	1	1.43mi

Listing history 11 events

1. 2026-06-18
   days on market $23,750 Active 8 DOM
2. 2026-06-17
   days on market $23,750 Active 7 DOM
3. 2026-06-16
   days on market $23,750 Active 6 DOM
4. 2026-06-15
   days on market $23,750 Active 5 DOM
5. 2026-06-13
   days on market $23,750 Active 3 DOM
6. 2026-06-13
   pricestatusdays on marketlisting id $23,750 Active 2 DOM
7. 2026-04-13
   listed $30,900 Active 220-char remark

   Show marketing remark (220 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 ONLY. BIDS DUE May 18th, 2026 AT 10:00am

8. 2014-09-25
   historical 227-char remark

   Show marketing remark (227 chars)

   Wow! What a great value! Come on in an see this HomePath stairless ranch. You will be invited on in by the simple layout and natural lighting throughout the home. Home has large 2 car detached garage for all your storage needs.

9. 2014-09-04
   listed $19,900 Active 227-char remark

   Show marketing remark (227 chars)

   Wow! What a great value! Come on in an see this HomePath stairless ranch. You will be invited on in by the simple layout and natural lighting throughout the home. Home has large 2 car detached garage for all your storage needs.

10. 2007-07-12
    soldstatus $78,000
11. 1996-02-01
    soldstatus $33,000

ⓘ 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 5/10 Major FEMA zone X (unshaded) · 60% 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: $17,737
• − Mortgage interest: −$1,330
• − Property taxes: −$356
• − Insurance: −$119
• − Repairs & maintenance: −$1,419
• − Management: −$1,419
• − Depreciation: −$691
• Taxable income: $12,403
• Est. tax owed @ 24.0%: −$2,977
• After-tax cash flow: $9,066/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): 45,170
• Household income: $48,486
• Rent vs Own: 56.2% rent · 43.8% own
• Severe rent burden: 3390.0

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 (66%)
• Race & ethnicity: Black 66% White 22% Hispanic / Latino 5% Two or more races 5% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 3% Portuguese 1% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 4% Other Asian/Pacific 1% Russian/Polish/Slavic 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: ▼ -194.98%
• Current HPI: 172.4275
• Rent YoY: ▲ 8.61%
• 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

-28.0% since first listed

7 events — show timeline

• 2026-06-10 Listed $23,750 METROMLS
• 2026-05-20 Listing Removed — METROMLS
• 2026-04-13 Listed $30,900 METROMLS
• 2014-09-25 Listing Removed — METROMLS
• 2014-09-04 Listed $19,900 METROMLS
• 2007-07-12 Sold (Public Records) $78,000 Public Records
• 1996-02-01 Sold (Public Records) $33,000 Public Records

Property tax history

+7.9%/yr

Latest (2024): $6,009 · -0.5% YoY. Source: county tax records.