$218,000
SOLD JUL 25, 2025

2405 S 5th St Milwaukee, WI 53207

Lincoln Village Neighborhood
-- Bed
-- Bath
2,977 Sq Ft
2,614 Sq Ft Lot

Recently Sold

$73 Per Sq Ft

3% Below List Price

14 Days on Market

About This Home

As of July 2025

Investor Alert! Great opportunity for cash flow with this fully occupied 3 unit rental. Monthly income is $2450. Large bright upper unit with heated sun room, Updated 3rd floor studio loft with skylights. Come see this great opportunity! (24hr notice needed)

Last Agent to Sell the Property

Carole Wehner

Milwaukee Executive Realty, LLC License #44132-90 Listed on: 06/05/2025

Last Buyer's Agent

Donald Schermer

Lamp Post Realty, LLC License #55986-90

Property Details

Home Type

  • Multi-Family

Lot Details

  • 2,614 Sq Ft Lot

Home Design

  • Brick Exterior Construction

Interior Spaces

  • 2,977 Sq Ft Home
  • Partial Basement

Community Details

  • Operating Expense $10,371
  • Net Operating Income $14,529

Listing and Financial Details

  • Exclusions: Tenant and sellers personal property
  • Tenant pays for heat
  • The owner pays for sewer, water, electric/public
  • Assessor Parcel Number 498056000

Property Details

Home Type

Multi-Family

Lot Details

0

Listing Details

  • Property Sub Type: Multi-Family
  • Prop. Type: Multi-Family
  • Lot Size Acres: 0.06
  • Inclusions: 3 Stoves, 3 Refridgerators
  • Directions: Lincoln to S. 5th Street. South to property Just South of Chase.
  • Special Features: None

Interior Features

  • Owner Pays: Sewer, Water, Electric/Public
  • Has Basement: Partial
  • Basement YN: Yes

Exterior Features

  • Exclusions: Tenant and sellers personal property
  • Construction Type: Aluminum Siding, Brick

Garage/Parking

  • Attached Garage: No
  • Parking Features: None

Utilities

  • Sewer: Municipal Sewer

Schools

  • Junior High Dist: Milwaukee

Lot Info

  • Lot Size Sq Ft: 2613.6
  • Parcel #: 498056000

Rental Info

  • Tenant Pays: Heat

Multi Family

  • Property Net Operating Income: 14529
  • Annual Operating Expense: 10371

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 5, 2025
Closed on
Jul 25, 2025
Sold by
Mcculler And Mcculler Llc
Bought by
2405 S 5Th St Llc
Seller's Agent
Carole Wehner
Milwaukee Executive Realty, LLC
Buyer's Agent
Donald Schermer
Lamp Post Realty, LLC
List Price
$225,000
Sold Price
$218,000
Premium/Discount to List
-$7,000
-3.11%
Views
44
Current Estimated Value
$262,667

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$44,667
Avg. Annual Appreciation
51.32%
Original Mortgage
$218,000
Outstanding Balance
$217,630
Interest Rate
6.84%
Mortgage Type
New Conventional
Estimated Equity
$45,037

Purchase Details

Closed on
Mar 20, 2017
Sold by
Schlicht Todd A and Schlicht Thomas A
Bought by
Mcculler And Mcculler Llc

Purchase Details

Closed on
Apr 28, 2003
Sold by
Haworth Robert A and Haworth Lorelei Joan
Bought by
Schlicht Todd A and Schlicht Thomas A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$40,000
Interest Rate
5.88%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Type Sale Price Title Company
Warranty Deed $218,000 None Listed On Document
Warranty Deed $74,000 None Available
Warranty Deed $50,000 --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $218,000 New Conventional
Previous Owner $40,000 Commercial
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
07/25/2025 07/25/25 Sold $218,000 -3.1% $73 / Sq Ft
06/19/2025 06/19/25 Pending -- -- --
06/05/2025 06/05/25 For Sale $225,000 -- $76 / Sq Ft
Source: Metro MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $4,480 $194,400 $6,900 $187,500
2023 $3,705 $156,800 $6,900 $149,900
2022 $3,771 $156,800 $6,900 $149,900
2021 $2,410 $90,400 $6,900 $83,500
2020 $2,393 $90,400 $6,900 $83,500
2019 $2,604 $77,100 $5,900 $71,200
2018 $1,994 $77,100 $5,900 $71,200
2017 $2,097 $77,100 $4,700 $72,400
2016 $2,418 $82,500 $4,700 $77,800
2015 $2,407 $82,500 $4,700 $77,800
2014 $2,493 $80,600 $4,700 $75,900
2013 -- $80,600 $4,700 $75,900
Source: Public Records

Agents Affiliated with this Home

  • Carole Wehner

    Seller's Agent in 2025

    Carole Wehner

    Milwaukee Executive Realty, LLC

    (715) 808-3064

    1 in this area

    43 Total Sales

    Carole Wehner
    Section Image

  • D

    Buyer's Agent in 2025

    Donald Schermer

    Lamp Post Realty, LLC

    (414) 839-2872

    1 in this area

    37 Total Sales

    Donald Schermer
    Section Image
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Map

Source: Metro MLS

MLS Number: 1920954

Metro MLS

APN: 498-0560-000-3

Wisconsin Milwaukee County Milwaukee 53207 Lincoln Village

2405 S 5th St, Milwaukee, WI

Sold

MultiFamily

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