How much is this Milwaukee house worth? 5430 N. 55th St

25 Replies

Milwaukee locals,

We are the note holder and we are foreclosing and near judgement on this one:

5430 N. 55th St., Milwaukee 53218

When we look at the comps they are all over the place and there is no relationship between the older BPO and newer AVM we have.  We recently sent a field agent out and the house is still owner occupied and is in very good shape from the outside.

Any idea about value? Thank you.

I invest in that area.  Value can vary widely block by block and based on what the condition and exterior of the home and neighboring homes are.  Could be $35k on the low end to $95k on the high end.  When and if you complete your foreclosure I'd be interested in talking about the house with you!

I have a house about 4 blocks from there.  This house is 4 bedrooms 1.5 bathrooms so if it's in good shape it could be around $45k - $55k.  It also depends on the extras.  Is there a garage? Central air?

Dawn Anastasi, Core Properties, LLC | http://www.coreprop.biz | Podcast Guest on Show #29

Agree with Dawn as long as the foundation is in good shape and the roof has some life left. Maybe I'd be more on the lower end as it's just a single car garage and the concrete driveway looks bad. I'd expect some repairs and deferred maintenance typical for foreclosures..

Medium bluedenube logo op3Marcus Auerbach, Blue Danube Properties LLC | [email protected] | 262 671 6868 | http://www.bluedanubeproperties.com | WI Agent # 82189

past mls history indicates 

Garage and central air unit for this property

Nice square footage 1356 plus

Nice opportunity with den / office additional space

My suggestion would be to have your realtor list property via mls 

to obtain top dollar value             ( as-is :  spring market )

Worse case -> seller financing or decent rental property

Please keep us posted on the final numbers for this property

Jenkins Ramon, JMWPS Ventures, LLC | [email protected]

@Dawn Anastasi @Marcus Auerbach

 Thanks, guys! Holding properties is not one of our primary strategies so we are listing the note for sale on fciexchange for $25kish.  I'll let you guys know what happens.

Gabe, I'm not savvy about buying notes, but if you were to complete the foreclosure I may be interested in making you a cash offer.

@Dawn Anastasi Hi Dawn, we have judgement and we're trying to get a deed-in-lieu from the borrower so we don't need to wait another 6 months for the redemption period. Her ex-boyfriend still lives in the house so hopefully he's taking care of it.  Pleas stay in touch. Thanks.

i haven't seen 1 sale over $40k 

http://www.zillow.com/homes/comps/40404365_zpid/

@Dawn Anastasi We are getting a deed-in-lieu this week.  Anything new happening in this area? Thanks

@Dawn Anastasi Hi Dawn, to look at the house to see how much it would sell for.

@Gabe K. I just sent you a connection request on here.  Would be happy to help connect you with a realtor and/or discuss the property.

Hi Milwaukee experts,

We want to do a contract for deed for the current resident. Can anyone recommend someone who can write up a CFD? Thank you.

@Dawn Anastasi  Off topic FYI 

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I viewed the exterior of this property earlier today.

Seem like a decent property from the exterior views.

Hopefully review the interior early next week.

Status of property : maybe send a private message to @Gabe K.

Jenkins Ramon, JMWPS Ventures, LLC | [email protected]

Ramon did a fantastic job touring the house, taking extensive video and photos of all the features.  I am currently gathering financials from the occupant to see if I can do a lease to own for him.  Also, I am considering selling it. Thanks.