2023 W Scott St · Milwaukee, WI 53204

$35,718

4 bd · 1.0 ba · 1,319 sqft · SingleFamily public records · 82 Days on market

Built 1898 1,306 sqft lot $27/sqft · 72% below area

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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 +15.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.0/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks MLS

This is a City Of Milwaukee Tax Foreclosure. Discover the opportunity to own this 4-bedroom, 1-bath home. With a little TLC, this house can be made a home! Buyers must show proof of funds or financing to cover purchase price & essential repairs. Essential Repairs: $36,480 (Total Scope Of Work: $66,355).

Key facts

• 1,306 sq ft lot
• Built 1898
• Listed 82 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $36k.

Deal economics

• At list price, monthly cash flow is $972 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $36k).
• Recommended offer: $34k (6.0% below list) — sets the bar for market timing.
• Cap rate 39.0% 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 (+2.0%/yr); 55 active listings in the ZIP; 4 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 43% of the median local income ($46k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $4k of equity ($246 loan paydown + $4k appreciation (10.0% local appreciation)).
• Milwaukee County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 2.0% rent growth), your $10k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y ago; this cycle's ask has dropped $12k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; built in 1898 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $33,574 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 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 1898 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 4.57% ✓
• Cap rate: 38.96%
• Cash-on-cash: 116.66%
• DSCR: 6.19
• GRM: 1.8

CMA / ARV

• ARV (median comp): $127,102
• List price: $35,718
• Delta: -71.90%
• 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
1217 S 22nd St	0.11mi	3/1.0 (-1)	1,273 (-4%)	8mo	$85,000	$67	77
1732 W Scott St	0.18mi	3/1.0 (-1)	1,369 (+4%)	6mo	$170,000	$124	75
1226 S 28th St	0.50mi	4/1.5	1,324 (+0%)	4mo	$260,000	$196	71
1650 S 18th St	0.46mi	3/1.0 (-1)	1,174 (-11%)	6mo	$145,000	$124	50
1207 W Lapham Blvd	0.69mi	4/1.0	1,200 (-9%)	3mo	$170,000	$142	50
1211 S 10th St	0.75mi	4/1.0	1,200 (-9%)	0mo	$150,000	$125	50
1640 S 18th St	0.45mi	3/2.0 (-1)	1,200 (-9%)	7mo	$162,500	$135	50
2416 W Lapham St	0.42mi	4/2.0	1,488 (+13%)	8mo	$209,900	$141	48
2918 W Greenfield Ave	0.62mi	3/1.0 (-1)	1,134 (-14%)	5mo	$215,000	$190	38
734 S 30th St	0.69mi	5/2.5 (+1)	1,445 (+10%)	4mo	$200,000	$138	37
1227 S 10th St	0.74mi	3/1.0 (-1)	1,466 (+11%)	5mo	$185,000	$126	37
927A S 11th St	0.68mi	3/1.0 (-1)	1,480 (+12%)	7mo	$190,000	$128	37

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

Projected returns pro-forma

10.0% appreciation · 2.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.98×
• Total profit: $79,818
• Equity at exit: $32,178

10-year hold

• IRR: —
• Equity multiple: 19.33×
• Total profit: $183,324
• Equity at exit: $69,392

Cash invested: $10,001 (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 53204

• Home prices YoY: 19.0%
• Rents YoY: 2.0%
• Active inventory: 55
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $1,631 medium
• Mortgage (P&I): −$187
• Tax from tax record: −$114 /mo · $1,369/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $972

Break-even live

Break-even rent $400

Max offer price $35,718

Occupancy floor 35%

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: $8,930
• Closing costs: $1,072
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1143 S 25th St #1 Milwaukee, WI	3.0	1.0	900	$1,050	$1.17	43d	1	0.32mi
1812 S 7th St Milwaukee, WI	3.0	1.5	1703	$2,100	$1.23	23d	1	1.13mi
501 N 20th St Apt C Milwaukee, WI	3.0	2.0	1122	$1,800	$1.60	17d	1	1.19mi
3520 W Mount Vernon Ave Unit 3520 Milwaukee, WI	4.0	1.0	1279	$1,450	$1.13	2d	1	1.42mi

Listing history 11 events

1. 2026-05-11
   price $35,718 310-char remark

   Show marketing remark (310 chars)

   This is a City Of Milwaukee Tax Foreclosure. Discover the opportunity to own this 4-bedroom, 1-bath home. With a little TLC, this house can be made a home! Buyers must show proof of funds or financing to cover purchase price & essential repairs. Essential Repairs: $36,480 (Total Scope Of Work: $66,355).

2. 2026-03-05
   listed $47,625 Active 310-char remark

   Show marketing remark (310 chars)

   This is a City Of Milwaukee Tax Foreclosure. Discover the opportunity to own this 4-bedroom, 1-bath home. With a little TLC, this house can be made a home! Buyers must show proof of funds or financing to cover purchase price & essential repairs. Essential Repairs: $36,480 (Total Scope Of Work: $66,355).

3. 2026-02-17
   status Pending 238-char remark

   Show marketing remark (238 chars)

   This is a tax foreclosed property. BIDS DUE MONDAY 2/16/2026 at 10:00AM. 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.

4. 2026-02-17
   historical 238-char remark

   Show marketing remark (238 chars)

   This is a tax foreclosed property. BIDS DUE MONDAY 2/16/2026 at 10:00AM. 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.

5. 2026-01-12
   listed $63,500 Active 238-char remark

   Show marketing remark (238 chars)

   This is a tax foreclosed property. BIDS DUE MONDAY 2/16/2026 at 10:00AM. 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.

6. 2013-02-02
   historical
7. 2013-02-02
   listed $80,000
8. 2013-02-01
   listed $99,000
9. 2013-02-01
   historical
10. 2007-05-03
    soldstatus $60,000
11. 1995-05-01
    soldstatus $16,900

ⓘ 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: $1,369 · $114/mo
• Projected year-2 tax: $1,369 · $114/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 ≥97°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,572
• − Mortgage interest: −$2,001
• − Property taxes: −$1,369
• − Insurance: −$179
• − Repairs & maintenance: −$1,566
• − Management: −$1,566
• − Depreciation: −$1,039
• Taxable income: $11,853
• Est. tax owed @ 24.0%: −$2,845
• After-tax cash flow: $8,822/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): 39,996
• Household income: $45,934
• Rent vs Own: 73.8% rent · 26.2% own
• Severe rent burden: 2357.0

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 Hispanic (68%)
• Race & ethnicity: Hispanic / Latino 68% Two or more races 35% White 15% Black 11% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 51% Puerto Rican 13%
• Common ancestry: Romanian 3% Portuguese 1% Lithuanian 1%
• Foreign-born: 28% · Canada
• Languages at home: 35% English-only · Spanish 61% Other Asian/Pacific 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: ▲ 64.27%
• Current HPI: 403.236
• Rent YoY: ▲ 2.00%
• 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

+111.3% since first listed

11 events — show timeline

• 2026-05-11 Price Changed $35,718 METROMLS
• 2026-03-05 Listed $47,625 METROMLS
• 2026-02-17 Pending — METROMLS
• 2026-02-17 Listing Removed — METROMLS
• 2026-01-12 Listed $63,500 METROMLS
• 2013-02-02 Listed $80,000 METROMLS
• 2013-02-02 Listing Removed — METROMLS
• 2013-02-01 Listing Removed — METROMLS
• 2013-02-01 Listed $99,000 METROMLS
• 2007-05-03 Sold (Public Records) $60,000 Public Records
• 1995-05-01 Sold (Public Records) $16,900 Public Records

Property tax history

+2.9%/yr

Latest (2024): $1,369 · -68.8% YoY. Source: county tax records.