5324 N 56th St · Milwaukee, WI 53218

$119,900

3 bd · 1.0 ba · 1,153 sqft · SingleFamily public records · 5 Days on market

Built 1952 6,534 sqft lot Est $161k · 26% under

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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 +23.6/30.0
• ARV discount +15.0/15.0
• DSCR +7.6/10.0
• 1% rule +6.7/10.0
• 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

Wonderful three bedroom Cape Cod! The side drive leads to a two car garage with newer overhead door. You will love the extra large eat-in kitchen. Large upstairs bedroom. Hardwood floors, large backyard with fruit tree, and rec room in basement for all your gatherings. Seller to update electrical services prior to closing. Home Warranty plan included.

Key facts

• Newer roof
• Cape cod style home
• Full basement

Tags

• CAPE COD STYLE HOME
• SIDE DRIVE
• FULL BASEMENT
• NEWER ROOF

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $226 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Cap rate 8.6% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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 37% 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 $829 of loan paydown is wiped out by about $4k 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 $34k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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.
• Current owner paid $30k; list at $120k implies a 300% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $119,900

Questions for the listing agent

1. Built in 1952 — 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: 1.17% ✓
• Cap rate: 8.55%
• Cash-on-cash: 8.08%
• DSCR: 1.36
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $161,420
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5330 N 54th St	0.13mi	3/1.0	1,127 (-2%)	1mo	$199,900	$177	90
5139 N 57th St	0.25mi	3/1.0	1,128 (-2%)	1mo	$125,000	$111	84
5466 N 57th St	0.20mi	3/1.0	1,108 (-4%)	1mo	$95,100	$86	84
5515 N 52nd St	0.33mi	4/1.0 (+1)	1,146 (-1%)	2mo	$109,000	$95	77
5269 N 57th St	0.11mi	3/1.0	1,033 (-10%)	2mo	$145,000	$140	76
5735 W Thurston Ave	0.41mi	3/1.0	1,084 (-6%)	0mo	$170,500	$157	71
5479 N 53rd St	0.26mi	3/2.0	1,037 (-10%)	2mo	$214,000	$206	66
5324 N 49th St	0.44mi	3/1.0	1,269 (+10%)	1mo	$130,000	$102	62
4947 N 66th St	0.74mi	3/1.0	1,196 (+4%)	1mo	$205,000	$171	59
4872 N 63rd St	0.66mi	3/1.5	1,100 (-5%)	1mo	$207,900	$189	59
5729 N 56th St	0.53mi	4/1.0 (+1)	1,026 (-11%)	2mo	$125,000	$122	50
4893 N 64th St	0.71mi	3/1.0	1,027 (-11%)	2mo	$65,000	$63	48

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: -1.3%
• Equity multiple: 0.95×
• Total profit: $-1,668
• Equity at exit: $17,877

10-year hold

• IRR: 10.8%
• Equity multiple: 1.94×
• Total profit: $31,558
• Equity at exit: $10,367

Cash invested: $33,572 (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: 7.1×

Monthly cashflow live

• Estimated rent: $1,406 high
• Mortgage (P&I): −$629
• Tax from tax record: −$206 /mo · $2,476/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $226

Break-even live

Break-even rent $1,120

Max offer price $119,900

Occupancy floor 79%

Sensitivity live

Price	-10% $294	-5% $260	+0% $226	+5% $192	+10% $158
Rent	-10% $115	-5% $170	+0% $226	+5% $281	+10% $337
Rate	-1.0pp $286	-0.5pp $256	base $226	+0.5pp $195	+1.0pp $163

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5688 N 56th St Milwaukee, WI	3.0	1.0	850	$1,445	$1.70	13d	1	0.50mi
5657 N 60th St #5659 Milwaukee, WI	3.0	1.0	878	$995	$1.13	18d	1	0.52mi
4900 N 58th St Milwaukee, WI	3.0	1.0	1455	$1,450	$1.00	5d	1	0.53mi
5073 N 48th St Milwaukee, WI	4.0	1.0	1152	$1,595	$1.38	15d	1	0.54mi
6221 W Thurston Ave #6223 Milwaukee, WI	3.0	1.0	800	$1,100	$1.38	20d	1	0.60mi
4610 W Eggert Pl #4612 Milwaukee, WI	3.0	1.0	852	$1,095	$1.29	24d	1	0.61mi
5050 N 47th St Milwaukee, WI	2.0	1.0	1092	$1,700	$1.56	44d	1	0.63mi
5659 N 64th St Unit 5659A Milwaukee, WI	2.0	1.0	1091	$1,300	$1.19	44d	1	0.67mi
5165-5167 N 45th St Unit 5165 Milwaukee, WI	3.0	1.0	1020	$1,200	$1.18	18d	1	0.67mi
5830 N 61st St Milwaukee, WI	3.0	1.0	1024	$1,450	$1.42	44d	1	0.72mi
4852 N 48th St Unit 4852 Milwaukee, WI	2.0	1.0	830	$995	$1.20	2d	1	0.74mi
4340 W Eggert Pl Milwaukee, WI	4.0	1.0	1066	$1,695	$1.59	24d	1	0.75mi
4334 W Eggert Pl Milwaukee, WI	4.0	1.0	1077	$1,695	$1.57	24d	1	0.75mi
6921 W Herbert Ave Milwaukee, WI	3.0	2.0	1414	$1,620	$1.15	5d	1	0.81mi
6518 W Hampton Ave Unit 2 Milwaukee, WI	2.0	1.0	1100	$1,200	$1.09	44d	1	0.84mi
5820 N 65th St #5822 Milwaukee, WI	2.0	1.0	700	$1,245	$1.78	44d	1	0.84mi
5823 N 65th St Unit Upper Milwaukee, WI	2.0	1.0	768	$1,295	$1.69	44d	1	0.85mi
5831 N 65th St Unit 5831 Milwaukee, WI	3.0	1.0	900	$1,195	$1.33	44d	1	0.86mi
4640 N 51st Blvd Milwaukee, WI	2.0	1.0	1075	$1,275	$1.19	44d	1	0.89mi
4727 N 46th St Milwaukee, WI	3.0	1.0	936	$1,700	$1.82	44d	1	0.93mi
5905 N 66th St Unit 66th Lower Milwaukee, WI	3.0	1.0	1000	$1,600	$1.60	17d	1	0.97mi
6046 N 61st St Unit 1 Milwaukee, WI	3.0	1.0	1200	$1,345	$1.12	24d	1	0.98mi
6046 N 61st St Unit 2 Milwaukee, WI	3.0	1.0	1250	$1,395	$1.12	44d	1	0.98mi
5435 N 40th St Milwaukee, WI	2.0	1.0	850	$1,150	$1.35	18d	1	0.99mi
4703 N 45th St Milwaukee, WI	3.0	1.0	1031	$1,695	$1.64	24d	1	1.00mi
5696 N 42nd St Milwaukee, WI	4.0	1.0	1023	$1,495	$1.46	24d	1	1.03mi
5956 N 67th St Milwaukee, WI	2.0	1.0	925	$1,250	$1.35	44d	1	1.05mi
5958 N 67th St Milwaukee, WI	2.0	1.0	925	$1,250	$1.35	5d	1	1.05mi
4702 N 44th St Milwaukee, WI	3.0	2.0	1050	$1,850	$1.76	44d	1	1.06mi
5950 N 69th St Unit 1 Milwaukee, WI	2.0	1.0	1100	$1,100	$1.00	44d	1	1.12mi
7348 W Medford Ave Unit 7348A Milwaukee, WI	2.0	1.0	1095	$950	$0.87	24d	1	1.13mi
4843 N 72nd St Milwaukee, WI	3.0	1.0	1014	$1,485	$1.46	44d	1	1.17mi
4479A N 44th St Milwaukee, WI	2.0	1.0	1000	$895	$0.90	44d	1	1.25mi
7632 W Leon Ter Unit C Milwaukee, WI	2.0	1.5	1000	$1,200	$1.20	24d	1	1.28mi
5541 N 35th St #5543 Milwaukee, WI	3.0	1.0	1130	$1,195	$1.06	5d	1	1.32mi
5237 N 34th St Unit 5237 Lower Milwaukee, WI	2.0	1.0	956	$1,350	$1.41	24d	1	1.34mi
4661 N 38th St Unit 4661 Milwaukee, WI	2.0	1.0	1000	$845	$0.84	15d	1	1.36mi
3931 W Kaul Ave Milwaukee, WI	3.0	1.0	1400	$1,695	$1.21	44d	1	1.44mi
4651 N 36th St #4 Milwaukee, WI	2.0	1.0	747	$945	$1.27	24d	1	1.47mi
7701 W Hampton Ave Unit 6 Milwaukee, WI	2.0	1.0	816	$1,250	$1.53	44d	1	1.48mi

Listing history 12 events

1. 2026-04-21
   status Pending
2. 2026-04-16
   listed $119,900 Active
3. 2013-02-02
   listed $119,900 353-char remark

   Show marketing remark (339 chars)

   Lovely 3 bedroom Cape Cod. Side-drive leads to a 2 car GA with newer overhead door! You will love the huge eat-in Kitchen. Large upstairs bedroom. Hardwood floors. Large backyard with fruit tree. Rec room in basement for your Holiday gatherings. Seller to upgrade electrical prior to closing. Home Warranty plan included. Motivated seller.

4. 2013-02-02
   historical 353-char remark

   Show marketing remark (339 chars)

   Lovely 3 bedroom Cape Cod. Side-drive leads to a 2 car GA with newer overhead door! You will love the huge eat-in Kitchen. Large upstairs bedroom. Hardwood floors. Large backyard with fruit tree. Rec room in basement for your Holiday gatherings. Seller to upgrade electrical prior to closing. Home Warranty plan included. Motivated seller.

5. 2013-02-02
   listed $119,900 339-char remark

   Show marketing remark (339 chars)

   Lovely 3 bedroom Cape Cod. Side-drive leads to a 2 car GA with newer overhead door! You will love the huge eat-in Kitchen. Large upstairs bedroom. Hardwood floors. Large backyard with fruit tree. Rec room in basement for your Holiday gatherings. Seller to upgrade electrical prior to closing. Home Warranty plan included. Motivated seller.

6. 2013-02-02
   historical 339-char remark

   Show marketing remark (339 chars)

   Lovely 3 bedroom Cape Cod. Side-drive leads to a 2 car GA with newer overhead door! You will love the huge eat-in Kitchen. Large upstairs bedroom. Hardwood floors. Large backyard with fruit tree. Rec room in basement for your Holiday gatherings. Seller to upgrade electrical prior to closing. Home Warranty plan included. Motivated seller.

7. 2013-01-22
   historical
8. 2013-01-22
   listed $39,900
9. 2009-03-17
   soldstatus $30,000
10. 2006-07-11
    soldstatus $109,900
11. 1998-05-18
    soldstatus $43,600
12. 1998-04-01
    soldstatus $43,600

ⓘ 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: $2,476 · $206/mo
• Projected year-2 tax: $2,476 · $206/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: $16,876
• − Mortgage interest: −$6,716
• − Property taxes: −$2,476
• − Insurance: −$600
• − Repairs & maintenance: −$1,350
• − Management: −$1,350
• − Depreciation: −$3,488
• Taxable income: $896
• Est. tax owed @ 24.0%: −$215
• After-tax cash flow: $2,496/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

+175.0% since first listed

12 events — show timeline

• 2026-04-21 Pending — METROMLS
• 2026-04-16 Listed $119,900 METROMLS
• 2013-02-02 Listing Removed — METROMLS
• 2013-02-02 Listed $119,900 METROMLS
• 2013-02-02 Listing Removed — METROMLS
• 2013-02-02 Listed $119,900 METROMLS
• 2013-01-22 Listed $39,900 METROMLS
• 2013-01-22 Listing Removed — METROMLS
• 2009-03-17 Sold (MLS) $30,000 METROMLS
• 2006-07-11 Sold (Public Records) $109,900 Public Records
• 1998-05-18 Sold (Public Records) $43,600 Public Records
• 1998-04-01 Sold (Public Records) $43,600 Public Records

Property tax history

+4.5%/yr

Latest (2024): $2,476 · +27.5% YoY. Source: county tax records.