Updated about 9 years ago on . Most recent reply
Milwaukee Advise
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I live in this zip code and I feel that there are a lot of elderly people living in this neighborhood which means there will be a high turnover over the next 5-10 years. With that said, you are on the border of many great suburbs and close to shopping, outdoor activities and freeway/transit access.
I think there are potential for deals in this area. There are several properties within block of me that are on MLS for less than $80K. There are three properties across the street that are for sale for over $115K so those properties will drive the market rate and make it more realistic to estimate ARV. There is a Meijer and strip mall with good restaurants and businesses nearby including a Whole Foods that helps garner renters, owners to the area.
On the flip side, it is close to some C neighborhoods and riff raff. My hope is that future owners in this area are investors that treat their investments like a business and young, working couples or small families. If this is what the neighborhood transitions to, it will be a very good area to invest in. I have lived in this area and owned in the Bay View neighborhood also and I think the right product in this location could produce similar rents as the 'hipster' Bay View location.
Just my $0.02. If anyone would like, drop me a PM and/or colleague request. I would be more than happy to scout properties in the neighborhood as I'm out and about quite often. Or help out in any other ways. I know I will be looking for my first property in this area.