3156 N 24th Pl · Milwaukee, WI 53206

$155,000

3 bd · 1.0 ba · 1,422 sqft · SingleFamily public records · 3 Days on market

Built 1894 3,920 sqft lot

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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).

• Appreciation +10.0/10.0
• Cash flow +9.4/30.0
• ARV discount +7.5/15.0
• Rent growth +4.6/5.0
• Livability +4.0/5.0
• 1% rule +2.8/10.0
• DSCR +2.6/10.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks

Completely updated and move-in ready! This beautiful home offers spacious bedrooms, two full bathrooms, and numerous recent upgrades throughout. Enjoy peace of mind with a newer roof, new windows, and updated flooring. The modern updates combined with generous living space make this home perfect for any family. Don't miss your opportunity to own this well-maintained property with so much to offer!

Key facts

• 3,920 sq ft lot
• Built 1894
• Listed 2 days

Property features AI

Exterior

• Utilities: Municipal water; Municipal sewer
• Home design: 2-story single-family home; Lot under 1/2 acre (about 0.09 acres); Zoning: RT3
• Construction: Information source lists year built from assessor/public record
• Exterior features: Vinyl exterior

Interior

• Kitchen: Kitchen on main level approximately 12 x 10
• Bedrooms: Master bedroom (Upper) approximately 14 x 12; Bedroom 2 (Main) approximately 12 x 11; Bedroom 3 (Main) approximately 11 x 10; Bedroom 4 (Upper) approximately 10 x 10
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Natural gas fuel
• Interior features: Full basement; Main-level living room and dining room; Upper-level and main-level bedrooms layout

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $-111 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $139k (10.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $122k (21.6% below list).
• Recommended offer: $122k (21.6% 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 (+8.3%/yr); 160 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $1,216/mo this rent would consume 50% of the median local household income ($29k/yr) (locally 2061% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Milwaukee County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 3, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $76k; list at $155k implies a 103% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1894 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $121,575 (21.6% 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 1894 — 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: 0.78% ✗
• Cap rate: 5.44%
• Cash-on-cash: -3.06%
• DSCR: 0.86
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $92,430
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3003 N 20th St	0.35mi	4/1.0 (+1)	1,437 (+1%)	2mo	$93,000	$65	76
3024 N 20th St	0.36mi	4/1.0 (+1)	1,461 (+3%)	4mo	$68,000	$47	70
2929 N 25th St	0.31mi	3/2.5	1,349 (-5%)	4mo	$200,000	$148	68
3741 N 25th St	0.64mi	3/2.0	1,397 (-2%)	2mo	$195,000	$140	62
3124 N 29th St	0.32mi	3/1.0	1,270 (-11%)	9mo	$120,000	$94	60
3812 N 27th St	0.72mi	3/1.0	1,372 (-4%)	3mo	$79,900	$58	58
3425 N 20th St	0.47mi	3/1.0	1,540 (+8%)	8mo	$165,000	$107	58
3450 N 23rd St	0.42mi	4/2.0 (+1)	1,556 (+9%)	4mo	$135,000	$87	52
2025 W Center St	0.66mi	4/1.5 (+1)	1,362 (-4%)	9mo	$81,000	$59	48
1540 W Groeling Ave	0.65mi	4/1.0 (+1)	1,535 (+8%)	6mo	$68,000	$44	46
3268 N 16th St	0.64mi	3/2.0	1,273 (-10%)	9mo	$40,000	$31	41
3745 N 25th St	0.65mi	4/1.5 (+1)	1,635 (+15%)	5mo	$100,000	$61	34

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 23.7%
• Equity multiple: 2.93×
• Total profit: $83,808
• Equity at exit: $139,636

10-year hold

• IRR: 22.3%
• Equity multiple: 7.18×
• Total profit: $268,300
• Equity at exit: $301,131

Cash invested: $43,400 (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 53206

• Rents YoY: 8.3%
• Active inventory: 160
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,216 high
• Mortgage (P&I): −$813
• Tax est. 1.5%: −$194 /mo · $2,325/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $-111

Break-even live

Break-even rent $1,356

Max offer price $138,978

Occupancy floor —

Sensitivity live

Price	-10% $-4	-5% $-57	+0% $-111	+5% $-164	+10% $-218
Rent	-10% $-207	-5% $-159	+0% $-111	+5% $-63	+10% $-15
Rate	-1.0pp $-33	-0.5pp $-71	base $-111	+0.5pp $-151	+1.0pp $-192

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2945 N 23rd St Milwaukee, WI	3.0	1.0	1014	$1,195	$1.18	44d	1	0.26mi
2821 W Concordia Ave Milwaukee, WI	3.0	1.5	1098	$1,595	$1.45	3d	1	0.37mi
3388 N 27th St Unit 3388 Front House Milwaukee, WI	4.0	1.0	1212	$1,550	$1.28	5d	1	0.40mi
2931 W Chambers St Milwaukee, WI	2.0	1.0	1400	$1,050	$0.75	24d	1	0.44mi
3347 N 29th St Unit 3347A Milwaukee, WI	2.0	1.0	950	$845	$0.89	15d	1	0.46mi
2870 N 29th St #2872 Milwaukee, WI	3.0	1.0	1300	$1,250	$0.96	44d	1	0.46mi
2955 N 17th St Unit B UPSTAIRS Milwaukee, WI	2.0	1.0	1000	$900	$0.90	18d	1	0.48mi
2765 N 26th St Unit 1 Milwaukee, WI	3.0	1.0	1125	$1,200	$1.07	5d	1	0.49mi
2765 N 26th St Unit 2 Milwaukee, WI	2.0	1.0	1100	$1,100	$1.00	5d	1	0.49mi
2741 N 23rd St Unit 2 Milwaukee, WI	3.0	1.0	1000	$1,100	$1.10	18d	1	0.50mi
2741 N 23rd St Milwaukee, WI	3.0	1.0	900	$1,050	$1.17	15d	1	0.50mi
2106A W Keefe Ave Unit 2106 Lower Milwaukee, WI	3.0	1.0	1300	$1,100	$0.85	18d	1	0.51mi
3124 N 33rd St Milwaukee, WI	2.0	1.0	1200	$1,200	$1.00	44d	1	0.60mi
2630 N 24th St Milwaukee, WI	2.0	1.0	934	$1,450	$1.55	20d	1	0.64mi
3416 N 17th St Unit 1 Milwaukee, WI	3.0	1.0	1200	$1,100	$0.92	44d	1	0.64mi
2308 W Clarke St Milwaukee, WI	4.0	2.0	1545	$1,750	$1.13	24d	1	0.68mi
3646 N 19th St Milwaukee, WI	2.0	1.0	935	$1,100	$1.18	5d	1	0.74mi
1326 W Burleigh St Unit 1326 Lower Milwaukee, WI	2.0	1.0	900	$825	$0.92	3d	1	0.75mi
3100 W Center St Milwaukee, WI	3.0	2.0	1174	$1,531	$1.30	2d	1	0.76mi
2809 W Clarke St Unit 12811 Milwaukee, WI	3.0	1.0	1400	$1,200	$0.86	18d	1	0.77mi
3298 N 13th St Milwaukee, WI	3.0	1.0	885	$895	$1.01	44d	1	0.83mi
3911 N 20th St Unit 3913 Milwaukee, WI	2.0	1.0	950	$995	$1.05	24d	1	0.89mi
3045 N 11th St #3047 Milwaukee, WI	3.0	1.0	1065	$1,175	$1.10	5d	1	0.89mi
3747 N 16th St Milwaukee, WI	2.0	1.0	1200	$875	$0.73	44d	1	0.90mi
3148 N 39th St Milwaukee, WI	2.0	1.0	1100	$1,100	$1.00	44d	1	0.95mi
3148 N 39th St Unit 1 Milwaukee, WI	2.0	1.0	1000	$1,100	$1.10	15d	1	0.95mi
3927-3929 N 17th St Milwaukee, WI	2.0	1.0	900	$1,195	$1.33	44d	1	1.01mi
3630 W Nash St Milwaukee, WI	2.0	1.0	1000	$1,200	$1.20	24d	1	1.02mi
3214 N 41st St Milwaukee, WI	2.0	1.0	900	$1,250	$1.39	44d	1	1.07mi
2116 W Atkinson Ave Unit A Milwaukee, WI	4.0	1.0	1707	$2,000	$1.17	2d	1	1.11mi
3871-3873 N 36th St Unit 3871 Milwaukee, WI	2.0	1.0	987	$950	$0.96	24d	1	1.12mi
3122 N 42nd St Milwaukee, WI	3.0	1.0	1323	$1,495	$1.13	5d	1	1.13mi
2530 N 37th St Milwaukee, WI	2.0	1.0	1037	$1,000	$0.96	15d	1	1.13mi
3123 N 42nd St Milwaukee, WI	4.0	1.0	1500	$1,700	$1.13	24d	1	1.16mi
3606 N 41st St Unit 3608 Milwaukee, WI	2.0	1.0	1095	$975	$0.89	44d	1	1.18mi
4227 N 26th St Milwaukee, WI	2.0	1.0	950	$1,000	$1.05	18d	1	1.21mi
3025 N 6th St Milwaukee, WI	2.0	1.0	1153	$1,125	$0.98	44d	1	1.25mi
2201 N 32nd St Unit 2201 Milwaukee, WI	3.0	1.0	1100	$1,195	$1.09	17d	1	1.28mi
3340 N 44th St Milwaukee, WI	2.0	1.0	900	$1,295	$1.44	13d	1	1.30mi
2512 N 41st St #2514 Milwaukee, WI	2.0	1.0	1007	$1,200	$1.19	44d	1	1.33mi

Listing history 3 events

1. 2026-06-21
   days on market $155,000 Active 3 DOM
2. 2026-06-19
   remarks 400-char remark
3. 2026-06-19
   listed $155,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $14,589
• − Mortgage interest: −$8,682
• − Property taxes: −$2,325
• − Insurance: −$775
• − Repairs & maintenance: −$1,167
• − Management: −$1,167
• − Depreciation: −$4,509
• Taxable loss: −$4,037
• Est. tax savings @ 24.0%: +$969
• After-tax cash flow: $-360/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): 19,887
• Household income: $29,336
• Rent vs Own: 67.8% rent · 32.2% own
• Severe rent burden: 2061.0

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 (91%)
• Race & ethnicity: Black 91% Two or more races 3% White 3% Hispanic / Latino 3%
• Common ancestry: Norwegian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 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: ▲ 133.03%
• Current HPI: 397.7151
• Rent YoY: ▲ 8.28%
• 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

+103.4% since first listed

2 events — show timeline

• 2026-06-18 Listed $155,000 METROMLS
• 1988-05-01 Sold (Public Records) $76,200 Public Records