2770 N 39th St #2772 · Milwaukee, WI 53210

$150,000

6 bd · 2.0 ba · 2,590 sqft · MultiFamily · 55 Days on market

Built 1917 4,791 sqft lot $58/sqft · 19% above area Est $126k · 19% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Looking for a smart investment or a place to live while earning extra income? This turnkey duplex in Sherman Park checks all the boxes. Each unit offers 3 bedrooms, providing space and strong rental appeal. The upper unit generates $1,125/month on a flexible month-to-month lease, while the lower unit is rent-ready and waiting for its next tenant--or you. Three off-street parking spots add convenience, and the neighborhood is known for its strong sense of community. Whether you're house hunting or expanding your portfolio, this property is ready to perform from day one.

Key facts

• 4,791 sq ft lot
• 3 garage spots
• Built 1917

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $927 ($11k/yr) — positive. Per door: $463/mo.
• 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 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; 2 comparable units currently listed for rent nearby; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $2,485/mo this rent would consume 62% 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 $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.
• At projected returns (-3.0% appreciation + 3.8% rent growth), your $42k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 14y 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.
• 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: built in 1917 — 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 55 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. Built in 1917 — 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: 13.71%
• Cash-on-cash: 26.47%
• DSCR: 2.18
• GRM: 5.0

CMA / ARV

• ARV (median comp): $125,919
• List price: $150,000
• Delta: 19.12%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2771 N 40th St #2773	0.09mi	6/2.0	2,614 (+1%)	2mo	$135,000	$52	92
2422 N 40th St #2424	0.45mi	6/2.0	2,490 (-4%)	5mo	$115,000	$46	68
2857 N 34th St #2859	0.30mi	6/2.0	2,314 (-11%)	1mo	$135,000	$58	68
2200 N 42nd St #2202	0.72mi	6/2.0	2,565 (-1%)	0mo	$37,000	$14	65
2642 N 50th St #2644	0.73mi	6/2.0	2,612 (+1%)	1mo	$264,000	$101	64
2328 N 45th St #2330	0.69mi	7/2.0 (+1)	2,622 (+1%)	2mo	$175,000	$67	59
3002 N 40th St #3004	0.28mi	6/2.0	2,972 (+15%)	4mo	$184,900	$62	59
2646 N 50th St #2648	0.73mi	6/2.0	2,826 (+9%)	1mo	$155,000	$55	50
2338 N 45th St #2340	0.68mi	6/2.0	2,304 (-11%)	2mo	$170,000	$74	48
2844 N 50th St #2846	0.71mi	6/2.0	2,906 (+12%)	3mo	$140,000	$48	44
2848 N 50th St #2850	0.71mi	6/2.0	2,222 (-14%)	1mo	$239,900	$108	42
2944 N 28th St #2946	0.72mi	5/2.0 (-1)	2,232 (-14%)	3mo	$165,000	$74	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 · 3.82% rent growth · sell at horizon

5-year hold

• IRR: 21.2%
• Equity multiple: 1.88×
• Total profit: $36,809
• Equity at exit: $22,365

10-year hold

• IRR: 29.9%
• Equity multiple: 3.78×
• Total profit: $116,816
• 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 53210

• Home prices YoY: -21.5%
• Rents YoY: 3.8%
• Active inventory: 142
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,485 high
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$522
• Net cashflow: $927

Break-even live

Break-even rent $1,312

Max offer price $150,000

Occupancy floor 58%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,486
Total (2 units)			$2,485

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 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2432 N 28th St Milwaukee, WI	5.0	1.5	1876	$1,600	$0.85	43d	1	0.79mi
2704 W Concordia Ave Unit Na Milwaukee, WI	5.0	2.0	1856	$2,500	$1.35	23d	1	1.02mi

Listing history 34 events

1. 2026-06-18
   days on market $150,000 Active 55 DOM
2. 2026-06-17
   days on market $150,000 Active 54 DOM
3. 2026-06-16
   days on market $150,000 Active 53 DOM
4. 2026-06-15
   days on market $150,000 Active 52 DOM
5. 2026-06-13
   days on market $150,000 Active 50 DOM
6. 2026-06-13
   days on market $150,000 Active 49 DOM
7. 2026-06-09
   days on market $150,000 Active 46 DOM
8. 2026-06-08
   days on market $150,000 Active 45 DOM
9. 2026-06-07
   days on market $150,000 Active 44 DOM
10. 2026-06-05
    days on market $150,000 Active 41 DOM
11. 2026-06-03
    days on market $150,000 Active 40 DOM
12. 2026-06-02
    days on market $150,000 Active 39 DOM
13. 2026-06-01
    days on market $150,000 Active 38 DOM
14. 2026-05-31
    days on market $150,000 Active 37 DOM
15. 2026-05-06
    status Active 575-char remark

    Show marketing remark (575 chars)

    Looking for a smart investment or a place to live while earning extra income? This turnkey duplex in Sherman Park checks all the boxes. Each unit offers 3 bedrooms, providing space and strong rental appeal. The upper unit generates $1,125/month on a flexible month-to-month lease, while the lower unit is rent-ready and waiting for its next tenant--or you. Three off-street parking spots add convenience, and the neighborhood is known for its strong sense of community. Whether you're house hunting or expanding your portfolio, this property is ready to perform from day one.

16. 2026-04-29
    historical Contingent 575-char remark

    Show marketing remark (575 chars)

    Looking for a smart investment or a place to live while earning extra income? This turnkey duplex in Sherman Park checks all the boxes. Each unit offers 3 bedrooms, providing space and strong rental appeal. The upper unit generates $1,125/month on a flexible month-to-month lease, while the lower unit is rent-ready and waiting for its next tenant--or you. Three off-street parking spots add convenience, and the neighborhood is known for its strong sense of community. Whether you're house hunting or expanding your portfolio, this property is ready to perform from day one.

17. 2026-04-24
    listed $154,900 Active 575-char remark

    Show marketing remark (575 chars)

    Looking for a smart investment or a place to live while earning extra income? This turnkey duplex in Sherman Park checks all the boxes. Each unit offers 3 bedrooms, providing space and strong rental appeal. The upper unit generates $1,125/month on a flexible month-to-month lease, while the lower unit is rent-ready and waiting for its next tenant--or you. Three off-street parking spots add convenience, and the neighborhood is known for its strong sense of community. Whether you're house hunting or expanding your portfolio, this property is ready to perform from day one.

18. 2026-04-22
    historical $154,900 575-char remark

    Show marketing remark (575 chars)

    Looking for a smart investment or a place to live while earning extra income? This turnkey duplex in Sherman Park checks all the boxes. Each unit offers 3 bedrooms, providing space and strong rental appeal. The upper unit generates $1,125/month on a flexible month-to-month lease, while the lower unit is rent-ready and waiting for its next tenant--or you. Three off-street parking spots add convenience, and the neighborhood is known for its strong sense of community. Whether you're house hunting or expanding your portfolio, this property is ready to perform from day one.

19. 2026-04-17
    historical 328-char remark

    Show marketing remark (328 chars)

    Calling all investors!!!! This 3/3 duplex is perfect for adding to your portfolio home still has all its original character bring your creative ideas to build more capital. Home will not pass FHA Financing. Conventional, Hard Money or cash offer only. 24hour notice for upper unit/ 5 hour notice for lower unit for all showings

20. 2026-04-03
    listed $164,500 Active 328-char remark

    Show marketing remark (328 chars)

    Calling all investors!!!! This 3/3 duplex is perfect for adding to your portfolio home still has all its original character bring your creative ideas to build more capital. Home will not pass FHA Financing. Conventional, Hard Money or cash offer only. 24hour notice for upper unit/ 5 hour notice for lower unit for all showings

21. 2026-03-16
    status Pending
22. 2026-03-09
    historical
23. 2026-03-03
    price $168,900
24. 2026-02-18
    price $175,000
25. 2026-02-11
    price $177,000
26. 2026-01-06
    status Active
27. 2025-12-27
    status Pending
28. 2025-11-13
    listed $179,000 Active
29. 2013-07-10
    listed $15,000
30. 2013-07-10
    historical
31. 2012-10-10
    historical
32. 2012-10-10
    listed $99,900
33. 2009-12-08
    soldstatus $80,000
34. 2008-10-07
    soldstatus $13,000

ⓘ 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 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: $29,820
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$2,386
• − Management: −$2,386
• − Depreciation: −$4,364
• Taxable income: $9,283
• Est. tax owed @ 24.0%: −$2,228
• After-tax cash flow: $8,891/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): 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

+1091.5% since first listed

20 events — show timeline

• 2026-05-06 Relisted — METROMLS
• 2026-04-29 Contingent — METROMLS
• 2026-04-24 Listed $154,900 METROMLS
• 2026-04-22 Coming Soon $154,900 METROMLS
• 2026-04-17 Listing Removed — METROMLS
• 2026-04-03 Listed $164,500 METROMLS
• 2026-03-16 Pending — METROMLS
• 2026-03-09 Listing Removed — METROMLS
• 2026-03-03 Price Changed $168,900 METROMLS
• 2026-02-18 Price Changed $175,000 METROMLS
• 2026-02-11 Price Changed $177,000 METROMLS
• 2026-01-06 Relisted — METROMLS
• 2025-12-27 Pending — METROMLS
• 2025-11-13 Listed $179,000 METROMLS
• 2013-07-10 Listing Removed — METROMLS
• 2013-07-10 Listed $15,000 METROMLS
• 2012-10-10 Listed $99,900 METROMLS
• 2012-10-10 Listing Removed — METROMLS
• 2009-12-08 Sold (MLS) $80,000 METROMLS
• 2008-10-07 Sold (MLS) $13,000 METROMLS