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$284,900

Under Contract
187 W Van Norman Ave, Milwaukee, WI 53207
3 Beds
1 Bath
2,675 Square Feet
0.00 Acres Lot
Built in 1953
Under Contract
1 Units
Checked: 1 day ago
Updated: Jul 15, 2025 at 07:30AM

Investment Summary


Monthly Cash Flow
-$537
Cap Rate
3.9%
Cash-on-Cash Return
-9.8%
Debt Coverage Ratio
0.63
Internal Rate of Return (5 years)
-5.5%

Property Description


0.00 Acres Lot
Built in 1953
Under Contract
1 Units

Move-in ready 3 bed 2 bath LannonStone Ranch Home in desirable Town of Lake minutes from Bay View offering comfort & prime location near parks, schools & restaurants. Main floor feat new carpet, fresh paint + new ceiling fan. Spacious open concept living room/dining room floods w/ natural light creating perfect for quiet evenings or entertaining. Kitchen offers functionality & flexibility for your culinary touch. 3 generous bedrooms provide space for rest, work or play. Main bath includes new shower over tub w/ cust surround. Massive finished LL offers endless opportunities w/ large rec room, custom bar, 1/2 bath & 2 add rooms ideal for home office or guest bed. Beautifully landscaped backyard offers large patio & built-in grill perfect for summer fun. 1 yr home wrnty. Some photos staged

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Location


Property Details


Parking

  • Description: Detached Garage
  • Details: Detached
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Partial): 0
  • # of Baths (Total): 1.0

Interior Features

  • # of Rooms: 5
  • # of Stories: 1
  • Basement: Yes
  • Basement Description: Finished, Full, Block

Exterior Features

  • Exterior Walls Materials: Rock, Stone

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 5950671000
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Ranch
  • Year Built: 1953

Tax Information

  • Annual Tax: $5,490

Utilities

  • Water & Sewer: Public
  • Heating: Natural Gas
  • Cooling: Central Air

Location

  • County: Milwaukee

Listing Details


Listed by:
Mind Right Realty Group*
Keller Williams Realty-Milwaukee Southwest
(262) 599-8980

Source:
Wisconsin Real Estate Exchange
MLS#: 803969144542
Wisconsin Real Estate Exchange

Investment Summary


Monthly Cash Flow
-$537
Cap Rate
3.9%
Cash-on-Cash Return
-9.8%
Debt Coverage Ratio
0.63
Internal Rate of Return (5 years)
-5.5%

Purchase Details

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Purchase price:
$284,900
Amount financed:
-$227,920
Down payment:
$56,980
Closing costs:
$8,547
Rehab costs:
$0
Initial cash invested:
$65,527
Square feet:
2,675
Cost per square foot:
$107
Monthly rent per square foot:
$0.75

Financing Details

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Loan amount:
$227,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,459
Property tax:
$458
Insurance:
$140
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,057

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,000 $24,000
Vacancy loss: (6%)
6% -$120 -$1,440
Operating income:
$1,880 $22,560

Operating Expenses


% Rent Monthly Yearly
Property taxes: (23%)
23%-$458-$5,490
Insurance: (7%)
7%-$140-$1,680
Property management: (8%)
8%-$160-$1,920
Repairs & maintenance: (5%)
5%-$100-$1,200
Capital expenditures: (5%)
5%-$100-$1,200
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (48%)
48%-$958-$11,490

Cash Flow


Monthly Yearly
Net operating income:
$922 $11,064
Mortgage payments:
-$1,459 -$17,508
Cash flow:
$537 $6,444