Ozaukee’s tension is a high value base versus a modest pre-cost rental return, while price measures use distinct methods and vintages. Yield-dependent rental underwriting warrants caution; test whether a property carries taxes, insurance and flood protection. Zillow’s 2026-06 median home value was $514,308, up 5.77% year over year. Median asking rent was $1,705 monthly, producing the supplied 3.98% gross yield before costs. The FHFA 2025 repeat-transaction HPI rose 5.24%, directionally aligned but not a dollar value or a growth rate to average with Zillow.
Measured asking rent, not HUD policy benchmarks, is the top-line rent input. The two-bedroom $1,338 Fair Market Rent is below market rent but is a payment standard, not an asking-rent estimate. The supplied gross yield uses market rent and does not establish net cash flow. The 1.19% effective property-tax rate and $4,631 median annual tax require carrying-cost scrutiny. Insurance, maintenance, financing, vacancy, utilities and property-level assessment data are not published, preventing a net-yield or debt-service conclusion.
Realtor.com’s MLS listing market shows 248 active listings, up 10.49% year over year, a 36-day median marketing time, and reductions on 12.08% of listings. These are visible asking-price supply and seller-concession signals, not closed-sale prices or standalone proof of buyer demand; the pending-to-active ratio is only a listing-pipeline measure. Tax-return migration was net inbound, with higher average AGI for in-movers than out-movers; household-level confirmation is needed. Investor participation was 49 purchases out of 1,021 total; it covers non-owner purchase mortgages, not cash buyers or all bidders.
Modeled annual building-value loss is 0.09%, consistent with inland flood as the named dominant hazard, but countywide modeling cannot establish parcel exposure or insurability. QCEW measures annual covered jobs at county workplaces, not resident employment or unemployment; employment declined as average covered wages rose, and education and health services was the largest disclosed private supersector, not the whole economy. Next checks: flood zone and insurance terms, parcel assessment, lease comps and turnover, condition, financing, and closed-sale evidence. Without them, asset-level cash flow and exit-price support cannot be underwritten.