3813 W Wright St · Milwaukee, WI 53210

$45,000

4 bd · 1.0 ba · 1,294 sqft · SingleFamily public records · 6 Days on market

Built 1910 1,306 sqft lot

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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 +7.5/15.0
• Livability +4.0/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attn Investors and or 1st time home buyers. Cheaper than rent, or add a nice property to your portfolio. Great cash flow

Key facts

• 1,306 sq ft lot
• Built 1910
• Listed 6 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $710 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Cap rate 25.2% 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; 36 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).
• This rent runs 33% 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 $311 of loan paydown is wiped out by about $1k 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 $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 7y 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 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $45,000

Questions for the listing agent

1. Built in 1910 — 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. 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.
6. 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.
7. 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: 2.94% ✓
• Cap rate: 25.21%
• Cash-on-cash: 67.57%
• DSCR: 4.01
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $121,636
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2807 N 36th St	0.43mi	3/1.0 (-1)	1,297 (+0%)	8mo	$70,000	$54	68
2464 N 34th St	0.28mi	3/2.0 (-1)	1,280 (-1%)	10mo	$195,000	$152	68
2444 N 38th St	0.06mi	3/1.0 (-1)	1,118 (-14%)	4mo	$105,000	$94	66
2865 N 36th St	0.50mi	3/2.0 (-1)	1,292 (-0%)	2mo	$132,000	$102	66
2114 N 34th St	0.49mi	4/1.0	1,278 (-1%)	12mo	$85,000	$67	65
2401 N 37th St	0.13mi	4/1.5	1,457 (+13%)	8mo	$133,000	$91	64
3615 W Center St	0.28mi	4/2.0	1,450 (+12%)	3mo	$81,000	$56	61
2408 N 47th St	0.55mi	4/1.5	1,258 (-3%)	9mo	$112,000	$89	60
3052 N 40th St	0.72mi	3/1.0 (-1)	1,240 (-4%)	4mo	$75,000	$60	51
2745 N 33rd St	0.45mi	3/2.0 (-1)	1,200 (-7%)	9mo	$120,000	$100	50
3801 W Sarnow St	0.67mi	3/1.0 (-1)	1,116 (-14%)	1mo	$105,000	$94	40
2446 N 46th St	0.48mi	4/2.0	1,485 (+15%)	12mo	$215,000	$145	39

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: 67.9%
• Equity multiple: 4.10×
• Total profit: $39,035
• Equity at exit: $6,710

10-year hold

• IRR: 72.3%
• Equity multiple: 8.69×
• Total profit: $96,918
• Equity at exit: $3,891

Cash invested: $12,600 (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: 2.8×

Monthly cashflow live

• Estimated rent: $1,324 high
• Mortgage (P&I): −$236
• Tax from tax record: −$81 /mo · $976/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $710

Break-even live

Break-even rent $425

Max offer price $45,000

Occupancy floor 41%

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2403-2405 N 39th St Unit 2403 Lower Milwaukee, WI	3.0	1.0	1200	$995	$0.83	10d	1	0.10mi
2403-2405 N 39th St Unit 2405 Upper Milwaukee, WI	3.0	1.0	1141	$995	$0.87	10d	1	0.10mi
2251 N 41st St Unit Lower Milwaukee, WI	3.0	1.0	1187	$1,198	$1.01	14d	1	0.29mi
2232 N 44th St Unit 2234 Upper Milwaukee, WI	3.0	1.0	1000	$1,195	$1.20	44d	1	0.43mi
2713 N 44th St Milwaukee, WI	3.0	1.0	1450	$1,350	$0.93	44d	1	0.47mi
2201 N 32nd St Unit 2201 Milwaukee, WI	3.0	1.0	1100	$1,195	$1.09	16d	1	0.51mi
2001 N 38th St #2003 Milwaukee, WI	3.0	1.0	1326	$950	$0.72	2d	1	0.51mi
3100 W Center St Milwaukee, WI	3.0	2.0	1174	$1,531	$1.30	1d	1	0.52mi
2809 W Clarke St Unit 12811 Milwaukee, WI	3.0	1.0	1400	$1,200	$0.86	17d	1	0.67mi
2409 N 49th St Milwaukee, WI	3.0	1.0	1335	$1,248	$0.93	44d	1	0.68mi
2137 N 47th St Milwaukee, WI	5.0	2.0	1723	$1,850	$1.07	14d	1	0.68mi
2629 N 49th St Milwaukee, WI	3.0	1.0	1200	$1,350	$1.12	44d	1	0.70mi
2629 N 50th St Unit Upper Milwaukee, WI	3.0	1.0	1258	$1,375	$1.09	3d	1	0.76mi
2438 N 51st St Unit 2 Milwaukee, WI	3.0	1.0	1300	$1,650	$1.27	23d	1	0.77mi
2870 N 29th St #2872 Milwaukee, WI	3.0	1.0	1300	$1,250	$0.96	44d	1	0.81mi
3122 N 42nd St Milwaukee, WI	3.0	1.0	1323	$1,495	$1.13	4d	1	0.83mi
3123 N 42nd St Milwaukee, WI	4.0	1.0	1500	$1,700	$1.13	23d	1	0.83mi
1639 N 33rd St Milwaukee, WI	3.0	1.0	1424	$950	$0.67	23d	1	0.87mi
2765 N 26th St Unit 1 Milwaukee, WI	3.0	1.0	1125	$1,200	$1.07	4d	1	0.87mi
2976 N 49th St Milwaukee, WI	3.0	1.0	1700	$1,300	$0.76	17d	1	0.90mi
1515 N 32nd St Unit 1515 Milwaukee, WI	3.0	1.0	1200	$1,245	$1.04	4d	1	1.01mi
2308 W Clarke St Milwaukee, WI	4.0	2.0	1545	$1,750	$1.13	23d	1	1.04mi
2741 N 23rd St Unit 2 Milwaukee, WI	3.0	1.0	1000	$1,100	$1.10	17d	1	1.09mi
2741 N 23rd St Milwaukee, WI	3.0	1.0	900	$1,050	$1.17	14d	1	1.09mi
2945 N 23rd St Milwaukee, WI	3.0	1.0	1014	$1,195	$1.18	44d	1	1.20mi
3155 N 52nd St Milwaukee, WI	3.0	2.0	1300	$1,400	$1.08	44d	1	1.21mi
2821 W Concordia Ave Milwaukee, WI	3.0	1.5	1098	$1,595	$1.45	2d	1	1.22mi
2119 W Brown St Milwaukee, WI	3.0	1.0	1754	$995	$0.57	3d	1	1.26mi
2704 W Concordia Ave Unit Na Milwaukee, WI	5.0	2.0	1856	$2,500	$1.35	23d	1	1.29mi
3012 N 57th St Unit Lower Milwaukee, WI	3.0	1.0	1130	$1,398	$1.24	4d	1	1.30mi
3388 N 27th St Unit 3388 Front House Milwaukee, WI	4.0	1.0	1212	$1,550	$1.28	4d	1	1.40mi
1239 N 26th St Unit 1 Milwaukee, WI	3.0	1.0	1300	$1,400	$1.08	44d	1	1.42mi
1239 N 26th St Unit 1 Milwaukee, WI	3.0	1.0	1300	$1,400	$1.08	44d	1	1.42mi
1235 N 26th St Milwaukee, WI	3.0	1.0	900	$950	$1.06	44d	1	1.43mi
2610 W Juneau Ave Unit 2610 Milwaukee, WI	3.0	1.0	893	$1,400	$1.57	23d	1	1.46mi
2478-2480 W Juneau Ave Unit 2478 Milwaukee, WI	4.0	1.0	1375	$1,495	$1.09	23d	1	1.50mi

Listing history 14 events

1. 2025-11-06
   status Pending
2. 2025-10-31
   listed $45,000 Active
3. 2021-06-10
   soldstatus $41,000 Sold 120-char remark

   Show marketing remark (120 chars)

   Attn Investors and or 1st time home buyers. Cheaper than rent, or add a nice property to your portfolio. Great cash flow

4. 2021-05-27
   historical Contingent 120-char remark

   Show marketing remark (120 chars)

   Attn Investors and or 1st time home buyers. Cheaper than rent, or add a nice property to your portfolio. Great cash flow

5. 2021-05-01
   listed $41,000 Active 120-char remark

   Show marketing remark (120 chars)

   Attn Investors and or 1st time home buyers. Cheaper than rent, or add a nice property to your portfolio. Great cash flow

6. 2019-07-25
   soldstatus $16,000 Sold 125-char remark

   Show marketing remark (125 chars)

   LONG TERM INVESTOR LIQUIDATING RENTAL OPPORTUNITY. PROPERTY BEING SOLD IN ''AS-IS'' CONDITION. THIS PROPERTY IS LAND-LOCKED.

7. 2019-07-15
   status Pending 125-char remark

   Show marketing remark (125 chars)

   LONG TERM INVESTOR LIQUIDATING RENTAL OPPORTUNITY. PROPERTY BEING SOLD IN ''AS-IS'' CONDITION. THIS PROPERTY IS LAND-LOCKED.

8. 2019-07-10
   price $16,900 125-char remark

   Show marketing remark (125 chars)

   LONG TERM INVESTOR LIQUIDATING RENTAL OPPORTUNITY. PROPERTY BEING SOLD IN ''AS-IS'' CONDITION. THIS PROPERTY IS LAND-LOCKED.

9. 2019-05-21
   price $17,900 125-char remark

   Show marketing remark (125 chars)

   LONG TERM INVESTOR LIQUIDATING RENTAL OPPORTUNITY. PROPERTY BEING SOLD IN ''AS-IS'' CONDITION. THIS PROPERTY IS LAND-LOCKED.

10. 2019-05-09
    price $19,500 125-char remark

    Show marketing remark (125 chars)

    LONG TERM INVESTOR LIQUIDATING RENTAL OPPORTUNITY. PROPERTY BEING SOLD IN ''AS-IS'' CONDITION. THIS PROPERTY IS LAND-LOCKED.

11. 2019-04-06
    price $19,900 125-char remark

    Show marketing remark (125 chars)

    LONG TERM INVESTOR LIQUIDATING RENTAL OPPORTUNITY. PROPERTY BEING SOLD IN ''AS-IS'' CONDITION. THIS PROPERTY IS LAND-LOCKED.

12. 2019-03-19
    price $22,900 125-char remark

    Show marketing remark (125 chars)

    LONG TERM INVESTOR LIQUIDATING RENTAL OPPORTUNITY. PROPERTY BEING SOLD IN ''AS-IS'' CONDITION. THIS PROPERTY IS LAND-LOCKED.

13. 2019-03-11
    listed $29,900 Active 125-char remark

    Show marketing remark (125 chars)

    LONG TERM INVESTOR LIQUIDATING RENTAL OPPORTUNITY. PROPERTY BEING SOLD IN ''AS-IS'' CONDITION. THIS PROPERTY IS LAND-LOCKED.

14. 1989-12-01
    soldstatus $22,200

ⓘ 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: $976 · $81/mo
• Projected year-2 tax: $976 · $81/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 6/10 Major FEMA zone X (unshaded) · 74% 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: $15,882
• − Mortgage interest: −$2,521
• − Property taxes: −$976
• − Insurance: −$225
• − Repairs & maintenance: −$1,271
• − Management: −$1,271
• − Depreciation: −$1,309
• Taxable income: $8,311
• Est. tax owed @ 24.0%: −$1,995
• After-tax cash flow: $6,520/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

+102.7% since first listed

14 events — show timeline

• 2025-11-06 Pending — METROMLS
• 2025-10-31 Listed $45,000 METROMLS
• 2021-06-10 Sold (MLS) $41,000 METROMLS
• 2021-05-27 Contingent — METROMLS
• 2021-05-01 Listed $41,000 METROMLS
• 2019-07-25 Sold (MLS) $16,000 METROMLS
• 2019-07-15 Pending — METROMLS
• 2019-07-10 Price Changed $16,900 METROMLS
• 2019-05-21 Price Changed $17,900 METROMLS
• 2019-05-09 Price Changed $19,500 METROMLS
• 2019-04-06 Price Changed $19,900 METROMLS
• 2019-03-19 Price Changed $22,900 METROMLS
• 2019-03-11 Listed $29,900 METROMLS
• 1989-12-01 Sold (Public Records) $22,200 Public Records

Property tax history

+3.0%/yr

Latest (2024): $976 · +11.3% YoY. Source: county tax records.