4132 N 51st Blvd · Milwaukee, WI 53216

$114,900

2 bd · 1.0 ba · 737 sqft · SingleFamily public records · 10 Days on market

Built 1949 4,791 sqft lot Est $111k · at est.

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Why this score? — see what drove the D 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 +11.8/30.0
• ARV discount +5.7/15.0
• Appreciation +5.7/10.0
• Rent growth +4.3/5.0
• Livability +4.0/5.0
• 1% rule +3.6/10.0
• DSCR +3.5/10.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks MLS

New luxury vinyl plank kitchen floor and a three bedroom and 1 1/2 bath home for $69,900? And that should pass FHA?! Run. Don't walk. Central air? YES! Newer, tear off roof? You bet. Newer mechanicals? Of course. This also includes a garage, fenced yard! SQ FT taken from tax. Newly done PROFESSIONALLY refinished hardwood floors on main. Refinished kitchen cabinets and staircase. 1/2 BA upper has new floor, toilet and vanity/sink. This bathroom is off a bedroom upstairs! Main BA has new vanity.

Key facts

• 4,791 sq ft lot
• Garage
• Built 1949

Property features AI

Finance

• Other: Estimated living area between 1,001 and 1,250 square feet

Exterior

• Parking: Detached 1-car garage
• Utilities: Municipal water; Municipal sewer; Natural gas service
• Home design: 1.5-story single-family home; Entry/main living spaces on main level
• Construction: Year built: owner-provided
• Exterior features: Wood exterior; Lot under 1/2 acre (approximately 0.11 acre); Residential zoning

Interior

• Kitchen: Range; Refrigerator; Kitchen on main level (12 x 10)
• Bedrooms: Main-level primary bedroom (11 x 10); Main-level second bedroom (12 x 9); Upper-level third bedroom (16 x 8)
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Partial basement; Bonus room (upper level)
• Laundry & utility: No specific washer/dryer listed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $-32 ($-389/yr) — negative.
• To cash-flow at today's rent, offer at most $109k (5.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $98k (14.4% below list).
• Recommended offer: $98k (14.4% below list) — sets the bar for 1% rule.

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 (+7.0%/yr); 130 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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).

Forward outlook

• In year one you build about $2k of equity ($794 loan paydown + $2k appreciation (1.3% local appreciation)).
• Milwaukee County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (1.3% appreciation + 7.0% rent growth), your $32k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 10 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.
• Current owner paid $70k; list at $115k implies a 64% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $98,378 (14.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.86% ✗
• Cap rate: 5.95%
• Cash-on-cash: -1.21%
• DSCR: 0.95
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $110,550
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4212 N 53rd St	0.16mi	2/1.0	672 (-9%)	11mo	$145,000	$216	69
5359 W Leon Ter	0.25mi	3/1.0 (+1)	800 (+8%)	1mo	$120,000	$150	69
4337 N 42nd Pl	0.58mi	2/1.0	698 (-5%)	2mo	$126,900	$182	62
4485 N 56th St	0.56mi	2/1.0	767 (+4%)	7mo	$105,000	$137	61
5601 W Congress St	0.46mi	2/1.0	800 (+8%)	8mo	$172,000	$215	58
4233 N 42nd Pl	0.54mi	2/1.0	688 (-7%)	12mo	$62,500	$91	54
4663 N 48th St	0.69mi	2/1.0	672 (-9%)	2mo	$77,000	$115	52
4340 N 48th St	0.31mi	3/1.0 (+1)	828 (+12%)	11mo	$129,500	$156	51
3634 N 49th St	0.58mi	2/1.0	810 (+10%)	8mo	$125,000	$154	49
3950 N 42nd St	0.63mi	2/1.0	843 (+14%)	2mo	$37,710	$45	45
4334 N 42nd Pl	0.60mi	3/1.0 (+1)	823 (+12%)	12mo	$109,900	$134	38
4652 N 49th St	0.67mi	2/1.5	835 (+13%)	11mo	$100,000	$120	36

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

Projected returns pro-forma

1.33% appreciation · 7.01% rent growth · sell at horizon

5-year hold

• IRR: 3.6%
• Equity multiple: 1.19×
• Total profit: $6,097
• Equity at exit: $41,201

10-year hold

• IRR: 10.2%
• Equity multiple: 2.40×
• Total profit: $45,053
• Equity at exit: $56,313

Cash invested: $32,172 (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 53216

• Home prices YoY: 0.3%
• Rents YoY: 7.0%
• Active inventory: 130
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $984 high
• Mortgage (P&I): −$603
• Tax from tax record: −$159 /mo · $1,910/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$207
• Net cashflow: $-32

Break-even live

Break-even rent $1,025

Max offer price $109,179

Occupancy floor 98%

Sensitivity live

Price	-10% $33	-5% $0	+0% $-32	+5% $-65	+10% $-97
Rent	-10% $-110	-5% $-71	+0% $-32	+5% $6	+10% $45
Rate	-1.0pp $25	-0.5pp $-3	base $-32	+0.5pp $-62	+1.0pp $-92

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3925 N 41st St Unit 2 Milwaukee, WI	1.0	1.0	700	$845	$1.21	25d	1	0.68mi
4572 N 38th St Unit 2 Milwaukee, WI	2.0	1.0	600	$950	$1.58	45d	1	1.04mi
4651 N 36th St #4 Milwaukee, WI	2.0	1.0	747	$945	$1.27	25d	1	1.17mi
6960 W Appleton Ave Apt 4 Milwaukee, WI	2.0	1.0	750	$1,100	$1.47	45d	1	1.24mi
4060 N 73rd St Apt 2 Milwaukee, WI	1.0	1.0	650	$850	$1.31	19d	1	1.30mi

Listing history 11 events

1. 2026-05-19
   listed $114,900 Active
2. 2019-11-21
   historical 498-char remark

   Show marketing remark (498 chars)

   New luxury vinyl plank kitchen floor and a three bedroom and 1 1/2 bath home for $69,900? And that should pass FHA?! Run. Don't walk. Central air? YES! Newer, tear off roof? You bet. Newer mechanicals? Of course. This also includes a garage, fenced yard! SQ FT taken from tax. Newly done PROFESSIONALLY refinished hardwood floors on main. Refinished kitchen cabinets and staircase. 1/2 BA upper has new floor, toilet and vanity/sink. This bathroom is off a bedroom upstairs! Main BA has new vanity.

3. 2019-11-19
   soldstatus $70,000
4. 2019-10-04
   historical Contingent 498-char remark

   Show marketing remark (498 chars)

   New luxury vinyl plank kitchen floor and a three bedroom and 1 1/2 bath home for $69,900? And that should pass FHA?! Run. Don't walk. Central air? YES! Newer, tear off roof? You bet. Newer mechanicals? Of course. This also includes a garage, fenced yard! SQ FT taken from tax. Newly done PROFESSIONALLY refinished hardwood floors on main. Refinished kitchen cabinets and staircase. 1/2 BA upper has new floor, toilet and vanity/sink. This bathroom is off a bedroom upstairs! Main BA has new vanity.

5. 2019-10-02
   price $69,900 498-char remark

   Show marketing remark (498 chars)

   New luxury vinyl plank kitchen floor and a three bedroom and 1 1/2 bath home for $69,900? And that should pass FHA?! Run. Don't walk. Central air? YES! Newer, tear off roof? You bet. Newer mechanicals? Of course. This also includes a garage, fenced yard! SQ FT taken from tax. Newly done PROFESSIONALLY refinished hardwood floors on main. Refinished kitchen cabinets and staircase. 1/2 BA upper has new floor, toilet and vanity/sink. This bathroom is off a bedroom upstairs! Main BA has new vanity.

6. 2019-09-03
   price $76,000 498-char remark

   Show marketing remark (498 chars)

   New luxury vinyl plank kitchen floor and a three bedroom and 1 1/2 bath home for $69,900? And that should pass FHA?! Run. Don't walk. Central air? YES! Newer, tear off roof? You bet. Newer mechanicals? Of course. This also includes a garage, fenced yard! SQ FT taken from tax. Newly done PROFESSIONALLY refinished hardwood floors on main. Refinished kitchen cabinets and staircase. 1/2 BA upper has new floor, toilet and vanity/sink. This bathroom is off a bedroom upstairs! Main BA has new vanity.

7. 2019-08-01
   historical 527-char remark

   Show marketing remark (498 chars)

   New luxury vinyl plank kitchen floor and a three bedroom and 1 1/2 bath home for $69,900? And that should pass FHA?! Run. Don't walk. Central air? YES! Newer, tear off roof? You bet. Newer mechanicals? Of course. This also includes a garage, fenced yard! SQ FT taken from tax. Newly done PROFESSIONALLY refinished hardwood floors on main. Refinished kitchen cabinets and staircase. 1/2 BA upper has new floor, toilet and vanity/sink. This bathroom is off a bedroom upstairs! Main BA has new vanity.

8. 2019-08-01
   listed $76,543 Active 498-char remark

   Show marketing remark (498 chars)

   New luxury vinyl plank kitchen floor and a three bedroom and 1 1/2 bath home for $69,900? And that should pass FHA?! Run. Don't walk. Central air? YES! Newer, tear off roof? You bet. Newer mechanicals? Of course. This also includes a garage, fenced yard! SQ FT taken from tax. Newly done PROFESSIONALLY refinished hardwood floors on main. Refinished kitchen cabinets and staircase. 1/2 BA upper has new floor, toilet and vanity/sink. This bathroom is off a bedroom upstairs! Main BA has new vanity.

9. 2019-06-30
   price $77,777 527-char remark

   Show marketing remark (527 chars)

   Dont play a slot machine. .. New luxury vinyl plank kitchen floor and a three bedroom and 1 1/2 bath home for $77,777? And that should pass FHA?! Run. Don't walk. Central air? YES! Newer, tear off roof? You bet. Newer mechanicals? Of course. This also includes a garage, fenced yard! SQ FT taken from tax. Newly done PROFESSIONALLY refinished hardwood floors on main. Refinished kitchen cabinets and staircase. 1/2 BA upper has new floor, toilet and vanity/sink. This bathroom is off a bedroom upstairs! Main BA has new vanity.

10. 2019-04-06
    listed $79,900 Active 527-char remark

    Show marketing remark (527 chars)

    Dont play a slot machine. .. New luxury vinyl plank kitchen floor and a three bedroom and 1 1/2 bath home for $77,777? And that should pass FHA?! Run. Don't walk. Central air? YES! Newer, tear off roof? You bet. Newer mechanicals? Of course. This also includes a garage, fenced yard! SQ FT taken from tax. Newly done PROFESSIONALLY refinished hardwood floors on main. Refinished kitchen cabinets and staircase. 1/2 BA upper has new floor, toilet and vanity/sink. This bathroom is off a bedroom upstairs! Main BA has new vanity.

11. 1987-06-01
    soldstatus $30,800

ⓘ 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: $1,910 · $159/mo
• Projected year-2 tax: $2,018 · $168/mo
• Expected delta: +$108/yr (+$9/mo · 5.7%)

ⓘ 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: $11,805
• − Mortgage interest: −$6,436
• − Property taxes: −$1,910
• − Insurance: −$574
• − Repairs & maintenance: −$944
• − Management: −$944
• − Depreciation: −$3,343
• Taxable loss: −$2,346
• Est. tax savings @ 24.0%: +$563
• After-tax cash flow: $175/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): 30,345
• Household income: $46,752
• Rent vs Own: 52.7% rent · 47.3% own
• Severe rent burden: 2202.0

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 (81%)
• Race & ethnicity: Black 81% White 9% Hispanic / Latino 5% Two or more races 5% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 1%
• Foreign-born: 3% · Canada, Philippines, China
• Languages at home: 93% English-only · Spanish 4% 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: ▲ 1.33%
• Current HPI: 381.0954
• Rent YoY: ▲ 7.01%
• 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

+273.1% since first listed

11 events — show timeline

• 2026-05-19 Listed $114,900 METROMLS
• 2019-11-21 Listing Removed — METROMLS
• 2019-11-19 Sold (Public Records) $70,000 Public Records
• 2019-10-04 Contingent — METROMLS
• 2019-10-02 Price Changed $69,900 METROMLS
• 2019-09-03 Price Changed $76,000 METROMLS
• 2019-08-01 Listing Removed — METROMLS
• 2019-08-01 Listed $76,543 METROMLS
• 2019-06-30 Price Changed $77,777 METROMLS
• 2019-04-06 Listed $79,900 METROMLS
• 1987-06-01 Sold (Public Records) $30,800 Public Records

Property tax history

+2.1%/yr

Latest (2024): $1,910 · +11.5% YoY. Source: county tax records.