5019 N 51st Blvd · Milwaukee, WI 53218

$99,900

3 bd · 1.0 ba · 698 sqft · SingleFamily public records · 101 Days on market

Built 1950 5,227 sqft lot Est $101k · at est.

---

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 +26.2/30.0
• DSCR +8.9/10.0
• ARV discount +7.8/15.0
• 1% rule +7.5/10.0
• 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

Listing remarks MLS

Cozy single sold 'as is. ' Seller & Seller's Agents have no condition report, inspections or tests. Buyer to satisfy self with respect to property condition through Buyer's own observations, inspections & due diligence.

Key facts

• 5,227 sq ft lot
• 2 garage spots
• Built 1950

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Municipal water; Municipal sewer
• Home design: Single-family, 1-story home; Less than 1/2 acre lot (approximately 0.12 acre)
• Construction: Information source indicates year built from assessor/public record
• Exterior features: Aluminum / Aluminum & steel exterior; Sidewalks

Interior

• Kitchen: Kitchen on main level, approximately 12 x 10
• Bedrooms: Master bedroom (Main level), approximately 10 x 10; Second bedroom (Main level), approximately 10 x 10
• Bathrooms: One full bathroom with ceramic tile and shower-over-tub
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Full basement; Living room on main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $255 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $91k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.4% 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 (+5.3%/yr); 153 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• This rent runs 33% of the median local income ($46k/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 $691 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 + 5.3% rent growth), your $28k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 21y ago; this cycle's ask has dropped $7k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $16k; list at $100k implies a 524% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $90,909 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.25% ✓
• Cap rate: 9.35%
• Cash-on-cash: 10.93%
• DSCR: 1.49
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $100,512
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5120 N 56th St	0.30mi	3/1.0	713 (+2%)	2mo	$103,000	$144	81
4663 N 48th St	0.49mi	2/1.0 (-1)	672 (-4%)	2mo	$77,000	$115	65
4765 N 48th St	0.37mi	2/1.0 (-1)	720 (+3%)	10mo	$63,675	$88	64
5482 N 58th St	0.72mi	3/1.0	734 (+5%)	2mo	$120,000	$163	56
5417 N 54th St	0.54mi	2/1.0 (-1)	728 (+4%)	9mo	$90,000	$124	55
5483 N 58th St	0.74mi	2/1.0 (-1)	672 (-4%)	1mo	$118,500	$176	54
4633 N Sherman Blvd	0.70mi	2/1.0 (-1)	741 (+6%)	1mo	$88,500	$119	51
4224 W Peck Pl	0.73mi	2/1.0 (-1)	744 (+7%)	2mo	$64,820	$87	49
5014 N 61st St	0.53mi	2/1.0 (-1)	624 (-11%)	6mo	$129,900	$208	48
5051 N 58th St	0.44mi	2/1.0 (-1)	796 (+14%)	7mo	$65,500	$82	46
5325 N 60th St	0.63mi	2/1.0 (-1)	624 (-11%)	6mo	$130,000	$208	43
5035 N 42nd St	0.57mi	3/1.0	796 (+14%)	9mo	$165,000	$207	42

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 · 5.29% rent growth · sell at horizon

5-year hold

• IRR: 2.7%
• Equity multiple: 1.11×
• Total profit: $3,013
• Equity at exit: $14,895

10-year hold

• IRR: 14.5%
• Equity multiple: 2.30×
• Total profit: $36,303
• Equity at exit: $8,638

Cash invested: $27,972 (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 53218

• Home prices YoY: -19.0%
• Rents YoY: 5.3%
• Active inventory: 153
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,245 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$163 /mo · $1,956/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $255

Break-even live

Break-even rent $922

Max offer price $99,900

Occupancy floor 75%

Sensitivity live

Price	-10% $311	-5% $283	+0% $255	+5% $226	+10% $198
Rent	-10% $156	-5% $206	+0% $255	+5% $304	+10% $353
Rate	-1.0pp $305	-0.5pp $280	base $255	+0.5pp $229	+1.0pp $203

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4572 N 38th St Unit 2 Milwaukee, WI	2.0	1.0	600	$950	$1.58	44d	1	1.03mi
4651 N 36th St #4 Milwaukee, WI	2.0	1.0	747	$945	$1.27	24d	1	1.07mi
6026 W Carmen Ave Milwaukee, WI	2.0	1.0	672	$1,195	$1.78	24d	1	1.08mi
5820 N 65th St #5822 Milwaukee, WI	2.0	1.0	700	$1,245	$1.78	44d	1	1.26mi

Listing history 15 events

1. 2026-05-22
   status Active
2. 2026-04-24
   price $99,900
3. 2026-04-24
   price $94,900
4. 2026-03-28
   historical Contingent
5. 2026-03-23
   price $99,900
6. 2026-02-15
   listed $106,900 Active
7. 2023-09-25
   historical $1,099
8. 2023-09-23
   listed $1,099
9. 2013-01-22
   listed $17,300 231-char remark

   Show marketing remark (231 chars)

   Cozy single sold 'as is. ' Seller & Seller's Agents have no condition report, inspections or tests. Buyer to satisfy self with respect to property condition through Buyer's own observations, inspections & due diligence.

10. 2013-01-22
    historical 231-char remark

    Show marketing remark (231 chars)

    Cozy single sold 'as is. ' Seller & Seller's Agents have no condition report, inspections or tests. Buyer to satisfy self with respect to property condition through Buyer's own observations, inspections & due diligence.

11. 2009-04-29
    soldstatus $16,000 231-char remark

    Show marketing remark (231 chars)

    Cozy single sold 'as is. ' Seller & Seller's Agents have no condition report, inspections or tests. Buyer to satisfy self with respect to property condition through Buyer's own observations, inspections & due diligence.

12. 2006-03-14
    soldstatus $87,000
13. 2005-05-12
    soldstatus $53,000
14. 2005-05-06
    soldstatus $53,000 229-char remark

    Show marketing remark (229 chars)

    2 BR Ranch w/ updated mechanicals. 2 car garage. Fenced rear yard. Furnace-2002, roof 2001, 40 gal water htr 2004, overhead garage door 2003, range hood, kit faucet, front entry door 2001. Incl: 3 ceiling fans, window treatments.

15. 2005-03-29
    listed $55,900 229-char remark

    Show marketing remark (229 chars)

    2 BR Ranch w/ updated mechanicals. 2 car garage. Fenced rear yard. Furnace-2002, roof 2001, 40 gal water htr 2004, overhead garage door 2003, range hood, kit faucet, front entry door 2001. Incl: 3 ceiling fans, window treatments.

ⓘ 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: $1,956 · $163/mo
• Projected year-2 tax: $1,956 · $163/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 ≥100°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: $14,936
• − Mortgage interest: −$5,596
• − Property taxes: −$1,956
• − Insurance: −$500
• − Repairs & maintenance: −$1,195
• − Management: −$1,195
• − Depreciation: −$2,906
• Taxable income: $1,588
• Est. tax owed @ 24.0%: −$381
• After-tax cash flow: $2,676/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): 41,196
• Household income: $45,642
• Rent vs Own: 57.1% rent · 42.9% own
• Severe rent burden: 2421.0

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 (72%)
• Race & ethnicity: Black 72% Asian 10% White 10% Hispanic / Latino 5% Two or more races 3%
• Common ancestry: Romanian 1% Lithuanian 1%
• Foreign-born: 6% · Philippines, Canada
• Languages at home: 89% English-only · Other Asian/Pacific 7% Spanish 3%

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: ▼ -76.44%
• Current HPI: 325.1975
• Rent YoY: ▲ 5.29%
• 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

+78.7% since first listed

15 events — show timeline

• 2026-05-22 Relisted — METROMLS
• 2026-04-24 Price Changed $99,900 METROMLS
• 2026-04-24 Price Changed $94,900 METROMLS
• 2026-03-28 Contingent — METROMLS
• 2026-03-23 Price Changed $99,900 METROMLS
• 2026-02-15 Listed $106,900 METROMLS
• 2023-09-25 Rental Removed $1,099 APPFOLIO
• 2023-09-23 Listed for Rent $1,099 APPFOLIO
• 2013-01-22 Listing Removed — METROMLS
• 2013-01-22 Listed $17,300 METROMLS
• 2009-04-29 Sold (MLS) $16,000 METROMLS
• 2006-03-14 Sold (Public Records) $87,000 Public Records
• 2005-05-12 Sold (Public Records) $53,000 Public Records
• 2005-05-06 Sold (MLS) $53,000 METROMLS
• 2005-03-29 Listed $55,900 METROMLS

Property tax history

+5.1%/yr

Latest (2024): $1,956 · +13.6% YoY. Source: county tax records.