3160 N Palmer St · Milwaukee, WI 53212

$105,000

3 bd · 2.0 ba · 1,913 sqft · MultiFamily public records · 76 Days on market

Built 2026 3,484 sqft lot $55/sqft · 45% below area Est $101k · at est. ↓ 9% since listing

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Why this score? — see what drove the B- 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
• ARV discount +5.5/15.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

NEW CONSTRUCTION!!! This home is part of the Early Childhood Education (ECE) Homeownership Initiative and is exclusively available to ECE Educators. For questions on eligibility, please contact directly

Key facts

• 3,484 sq ft lot
• Built 2026
• Listed 76 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $105k.

Deal economics

• At list price, monthly cash flow is $709 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Recommended offer: $99k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.4% 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 (+5.0%/yr); 129 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $1,832/mo this rent would consume 46% of the median local household income ($47k/yr) (locally 2397% 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 $726 of loan paydown is wiped out by about $3k 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 + 5.0% rent growth), your $29k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y 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.

Recommended offer $98,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 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: 1.74% ✓
• Cap rate: 14.39%
• Cash-on-cash: 28.93%
• DSCR: 2.29
• GRM: 4.8

CMA / ARV

• ARV (median comp): $100,530
• List price: $105,000
• Delta: 4.45%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3358 N Richards St #3364	0.26mi	4/2.0 (+1)	1,858 (-3%)	1mo	$95,000	$51	77
600 E Burleigh St	0.26mi	4/2.0 (+1)	1,787 (-7%)	1mo	$180,000	$101	71
2940 N Holton St #2942	0.33mi	4/2.0 (+1)	2,032 (+6%)	0mo	$195,000	$96	69
215 E Chambers St	0.23mi	4/2.0 (+1)	1,733 (-9%)	4mo	$110,000	$63	65
522 E Burleigh St	0.22mi	4/2.0 (+1)	1,635 (-14%)	1mo	$160,000	$98	60
3026 N Pierce St	0.36mi	4/2.0 (+1)	1,684 (-12%)	1mo	$77,000	$46	58
2724 N Palmer St Unit 2724A	0.55mi	4/2.0 (+1)	1,746 (-9%)	4mo	$104,900	$60	51
220 E Clarke St	0.71mi	3/2.0	2,077 (+9%)	3mo	$180,000	$87	51
3043 N Dr William Finlayson St #3045	0.45mi	4/2.0 (+1)	1,633 (-15%)	3mo	$125,000	$77	47
3711 N 1st St #3713	0.58mi	4/2.0 (+1)	1,680 (-12%)	3mo	$160,000	$95	45
608 W Burleigh St #610	0.54mi	4/2.0 (+1)	2,174 (+14%)	3mo	$112,000	$52	45
2813 N Humboldt Blvd #2815	0.69mi	4/2.0 (+1)	2,152 (+12%)	2mo	$276,000	$128	41

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 · 5.0% rent growth · sell at horizon

5-year hold

• IRR: 25.6%
• Equity multiple: 2.09×
• Total profit: $31,927
• Equity at exit: $15,656

10-year hold

• IRR: 34.5%
• Equity multiple: 4.47×
• Total profit: $102,153
• Equity at exit: $9,078

Cash invested: $29,400 (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 53212

• Rents YoY: 5.0%
• Active inventory: 129
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,832 high
• Mortgage (P&I): −$551
• Tax from tax record: −$144 /mo · $1,731/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $709

Break-even live

Break-even rent $935

Max offer price $105,000

Occupancy floor 56%

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3042 N Palmer St #5 Milwaukee, WI	3.0	1.0	1718	$1,050	$0.61	23d	1	0.14mi
312 E Townsend St Unit 312 Milwaukee, WI	3.0	1.0	1400	$1,250	$0.89	23d	1	0.32mi
2719 N 1st St Milwaukee, WI	2.0	1.0	1300	$1,095	$0.84	14d	1	0.56mi
2772 N Bremen St #2774 Milwaukee, WI	3.0	1.0	1500	$1,795	$1.20	43d	1	0.66mi
2761 N Humboldt Blvd Unit First Floor Milwaukee, WI	3.0	1.0	1236	$1,600	$1.29	17d	1	0.74mi
2507 N Buffum St Milwaukee, WI	3.0	1.0	1300	$1,375	$1.06	19d	1	0.83mi
912 W Hadley St Milwaukee, WI	2.0	1.0	2222	$1,250	$0.56	14d	1	0.84mi
400 E Meinecke Ave #402 Milwaukee, WI	3.0	1.0	1700	$1,800	$1.06	16d	1	0.96mi
3131 N Bartlett Ave Unit 1 Milwaukee, WI	4.0	1.0	1600	$1,750	$1.09	43d	1	0.99mi
2518 N Humboldt Blvd Unit 2518 Lower Milwaukee, WI	2.0	1.0	1246	$1,275	$1.02	17d	1	0.99mi
2429 N Weil St Milwaukee, WI	3.0	1.0	1300	$1,500	$1.15	43d	1	1.04mi
3377 N Oakland Ave Milwaukee, WI	4.0	2.0	1358	$2,550	$1.88	1d	1	1.08mi
3246 N Oakland Ave #3244 Milwaukee, WI	3.0	1.0	1309	$2,010	$1.54	1d	1	1.09mi
1814 E Linnwood Ave Milwaukee, WI	4.0	2.0	1800	$3,100	$1.72	43d	1	1.12mi
1902 E Linnwood Ave Unit 1902 04 Milwaukee, WI	4.0	1.5	1599	$2,400	$1.50	17d	1	1.16mi
1902 E Linnwood Ave Unit 1902 05 Milwaukee, WI	4.0	1.5	1599	$2,400	$1.50	4d	1	1.16mi
1902 E Linnwood Ave Unit 1902 3002 Milwaukee, WI	3.0	1.0	1300	$1,899	$1.46	43d	1	1.16mi
2959 N Murray Ave Milwaukee, WI	3.0	1.0	1500	$1,800	$1.20	16d	1	1.21mi
2937 N Frederick Ave Milwaukee, WI	4.0	1.0	1700	$1,925	$1.13	4d	1	1.27mi
2974 N Frederick Ave Milwaukee, WI	4.0	2.0	1626	$2,600	$1.60	43d	1	1.30mi
2012 N Buffum St Milwaukee, WI	3.0	2.5	2200	$2,695	$1.23	43d	1	1.33mi
2130 N Commerce St Milwaukee, WI	2.0	2.5	1550	$2,495	$1.61	43d	1	1.38mi
2706 N Frederick Ave Milwaukee, WI	3.0	2.0	1500	$2,000	$1.33	17d	1	1.39mi
2830 N Maryland Ave Unit 2828 Milwaukee, WI	3.0	1.0	1675	$1,995	$1.19	17d	1	1.39mi
2579 N Frederick Ave Milwaukee, WI	4.0	2.0	2400	$2,095	$0.87	4d	1	1.43mi
3015 N Prospect Ave Unit 3015 Prospect Milwaukee, WI	3.0	1.0	1570	$1,950	$1.24	17d	1	1.44mi
1845 N Water St Milwaukee, WI	3.0	1.0–2.0	948	$4,455	$4.70	3d	84	1.45mi
1925 N Water St #202 Milwaukee, WI	2.0	2.0	1576	$2,300	$1.46	43d	1	1.45mi
2609 N Maryland Ave Milwaukee, WI	4.0	2.5	1700	$2,050	$1.21	4d	1	1.45mi
3939 N Murray Ave Milwaukee, WI	2.0–3.0	2.0	1180	$1,675	$1.42	43d	2	1.48mi
1633 E North Ave Milwaukee, WI	2.0	1.0	1110	$1,900	$1.71	2d	3	1.48mi

Listing history 20 events

1. 2026-06-18
   days on market $105,000 Active 76 DOM
2. 2026-06-17
   days on market $105,000 Active 75 DOM
3. 2026-06-16
   days on market $105,000 Active 74 DOM
4. 2026-06-15
   days on market $105,000 Active 73 DOM
5. 2026-06-13
   days on market $105,000 Active 71 DOM
6. 2026-06-13
   days on market $105,000 Active 70 DOM
7. 2026-06-09
   days on market $105,000 Active 67 DOM
8. 2026-06-08
   days on market $105,000 Active 66 DOM
9. 2026-06-07
   days on market $105,000 Active 65 DOM
10. 2026-06-05
    days on market $105,000 Active 62 DOM
11. 2026-06-03
    days on market $105,000 Active 61 DOM
12. 2026-06-02
    days on market $105,000 Active 60 DOM
13. 2026-06-01
    days on market $105,000 Active 59 DOM
14. 2026-05-31
    days on market $105,000 Active 58 DOM
15. 2026-04-03
    listed $105,000 Active 202-char remark

    Show marketing remark (202 chars)

    NEW CONSTRUCTION!!! This home is part of the Early Childhood Education (ECE) Homeownership Initiative and is exclusively available to ECE Educators. For questions on eligibility, please contact directly

16. 2014-04-18
    listed $18,000 200-char remark

    Show marketing remark (200 chars)

    Price reduced!!2/2 duplex with full basement per city with 1913 sq. ft. Property is and being sold in 'as is' condition. No Real Estate Condition Report. All room sizes are approximate and per seller.

17. 2014-04-18
    historical 200-char remark

    Show marketing remark (200 chars)

    Price reduced!!2/2 duplex with full basement per city with 1913 sq. ft. Property is and being sold in 'as is' condition. No Real Estate Condition Report. All room sizes are approximate and per seller.

18. 2013-07-10
    listed $9,950
19. 2013-07-10
    historical
20. 2007-04-06
    soldstatus $116,000

ⓘ 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: $1,731 · $144/mo
• Projected year-2 tax: $1,837 · $153/mo
• Expected delta: +$106/yr (+$9/mo · 6.1%)

ⓘ 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 ≥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: $21,987
• − Mortgage interest: −$5,882
• − Property taxes: −$1,731
• − Insurance: −$525
• − Repairs & maintenance: −$1,759
• − Management: −$1,759
• − Depreciation: −$3,055
• Taxable income: $7,277
• Est. tax owed @ 24.0%: −$1,746
• After-tax cash flow: $6,759/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): 28,938
• Household income: $47,298
• Rent vs Own: 65.6% rent · 34.4% own
• Severe rent burden: 2397.0

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 0.64)
• Race & ethnicity: Black 48% White 35% Hispanic / Latino 12% Two or more races 9%
• Hispanic origin (detail): Mexican 4% Puerto Rican 6%
• Common ancestry: Romanian 4% Portuguese 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 92% English-only · Spanish 6%

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: ▼ -216.73%
• Current HPI: 385.8225
• Rent YoY: ▲ 5.00%
• 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

-9.5% since first listed

6 events — show timeline

• 2026-04-03 Listed $105,000 METROMLS
• 2014-04-18 Listing Removed — METROMLS
• 2014-04-18 Listed $18,000 METROMLS
• 2013-07-10 Listing Removed — METROMLS
• 2013-07-10 Listed $9,950 METROMLS
• 2007-04-06 Sold (Public Records) $116,000 Public Records