2337 Hansen Ave · Racine, WI 53405

$249,900

4 bd · 2.0 ba · 1,752 sqft · MultiFamily public records · 34 Days on market

Built 1910 4,356 sqft lot Est $193k · 30% over

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Why this score? — see what drove the D- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +15.9/30.0
• DSCR +4.9/10.0
• 1% rule +4.6/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Great Investment! Cash flow, home includes 2 units with 2 bedrooms and 1 bathroom each. Great for investors!! Property in need of some TLC, but will be a great home to a new family.

Key facts

• Ample living space
• Off-street parking
• Conveniently located

Tags

• INVESTMENT OPPORTUNITY
• STRONG INCOME POTENTIAL
• CONVENIENTLY LOCATED
• AMPLE LIVING SPACE
• OFF-STREET PARKING
• DETACHED GARAGE

Property features AI

Exterior

• Parking: Detached 2-car garage with opener; Total garage parking approximately 2.5 spaces
• Utilities: Municipal water; Municipal sewer; Multiple gas meters serving the building
• Home design: Two-story duplex; Multi-family property; Zoning: R3
• Construction: Aluminum exterior; Assessor/public record for year built
• Exterior features: Aluminum/steel siding

Interior

• Kitchen: Unit 2 kitchen located on upper level (approx. 12 x 11)
• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 2 bedrooms (master on upper level, approx. 11 x 12)
• Bathrooms: Unit 1: 1 full bathroom; Unit 2: 1 full bathroom
• Interior features: Full basement with block construction
• Laundry & utility: Separate gas meters (1 and 2 gas meters) — utilities configured for multi-unit

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $118 ($1k/yr) — positive. Per door: $59/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $239k (4.3% below list).
• Recommended offer: $239k (4.3% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 3.9% in Racine — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 80/100 on livability (#58 in WI, #1,622 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D.
• Racine Unified School District (urban): math 12% / reading 20% proficiency, ranked #335 of 342 in WI (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Fratt Elementary (math 2% / reading 8%, grade F, #968 of 1,041 statewide, top 98%, 448 students, 75% FRL); Starbuck - An Ib World School (math 8% / reading 21%, grade F, #366 of 383 statewide, top 96%, 509 students, 62% FRL); Park High (math 6% / reading 11%, grade F, #465 of 483 statewide, top 96%, 1,038 students, 70% FRL).
• Market conditions: 42 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 505 units permitted in Racine County in 2024 (287 in 5+ unit buildings).
• This rent runs 41% of the median local income ($69k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Racine County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $36k; list at $250k implies a 602% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $239,100 (4.3% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.96% ✗
• Cap rate: 6.86%
• Cash-on-cash: 2.02%
• DSCR: 1.09
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $192,720
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
332 Luedtke Ave	0.43mi	4/2.0	1,760 (+0%)	6mo	$175,000	$99	74
1001 Delamere Ave	0.56mi	5/2.0 (+1)	1,772 (+1%)	2mo	$195,000	$110	65
2105 Clarence Ave	0.21mi	5/2.0 (+1)	1,962 (+12%)	7mo	$229,900	$117	59
218 Island Ave	0.51mi	3/2.0 (-1)	1,616 (-8%)	2mo	$232,000	$144	57
119 Howland Ave	0.42mi	5/2.0 (+1)	1,666 (-5%)	14mo	$125,000	$75	55
1905 Ehlert St	0.48mi	4/2.0	1,520 (-13%)	1mo	$210,000	$138	55
223 N Memorial Dr	0.65mi	5/2.0 (+1)	1,829 (+4%)	3mo	$94,000	$51	55
228 Howland Ave	0.45mi	5/2.0 (+1)	1,896 (+8%)	7mo	$75,000	$40	54
1627 Liberty St	0.71mi	5/2.0 (+1)	1,762 (+1%)	14mo	$164,000	$93	49
1345 Deane Blvd	0.50mi	3/2.0 (-1)	1,938 (+11%)	12mo	$238,000	$123	44
1013 Monroe Ave	0.69mi	4/2.0	1,542 (-12%)	13mo	$240,000	$156	37
3725 Haven Ave	0.69mi	3/2.0 (-1)	1,932 (+10%)	12mo	$210,000	$109	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -13.1%
• Equity multiple: 0.53×
• Total profit: $-32,941
• Equity at exit: $37,261

10-year hold

• IRR: -4.0%
• Equity multiple: 0.73×
• Total profit: $-18,782
• Equity at exit: $21,607

Cash invested: $69,972 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 73 Landlord-Friendly
• State Wisconsin: 73 Landlord-Friendly · R+2
• County: — inherits STATE
• City: — inherits STATE

5-day notice; preempted; Madison / Milwaukee have some local enforcement.

Methodology + full state rankings →

ZIP-level market 53405

• Active inventory: 42
• Price-to-rent: 17.4×

Monthly cashflow live

• Estimated rent: $2,391 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$357 /mo · $4,280/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$502
• Net cashflow: $118

Break-even live

Break-even rent $2,242

Max offer price $249,900

Occupancy floor 90%

Sensitivity live

Price	-10% $259	-5% $188	+0% $118	+5% $47	+10% $-24
Rent	-10% $-71	-5% $23	+0% $118	+5% $212	+10% $306
Rate	-1.0pp $243	-0.5pp $181	base $118	+0.5pp $53	+1.0pp $-13

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,392
Total (2 units)			$2,391

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3224 Osborne Blvd Racine, WI	3.0	2.0	1696	$2,200	$1.30	23d	1	0.42mi
945 N Memorial Dr Unit 1-2-3 Racine, WI	3.0	1.0	1500	$1,450	$0.97	23d	1	0.90mi
2220 Northwestern Ave Racine, WI	1.0–3.0	1.0–2.0	899	$2,175	$2.42	15d	19	1.12mi
2328 21st St Racine, WI	3.0	1.0	1239	$1,750	$1.41	15d	1	1.30mi

Listing history 27 events

1. 2026-06-21
   days on market $249,900 Active 34 DOM
2. 2026-06-19
   days on market $249,900 Active 32 DOM
3. 2026-06-18
   days on market $249,900 Active 31 DOM
4. 2026-06-17
   days on market $249,900 Active 30 DOM
5. 2026-06-16
   days on market $249,900 Active 29 DOM
6. 2026-06-15
   days on market $249,900 Active 28 DOM
7. 2026-06-14
   days on market $249,900 Active 26 DOM
8. 2026-06-13
   days on market $249,900 Active 25 DOM
9. 2026-06-10
   days on market $249,900 Active 23 DOM
10. 2026-06-09
    days on market $249,900 Active 22 DOM
11. 2026-06-08
    days on market $249,900 Active 21 DOM
12. 2026-06-07
    days on market $249,900 Active 20 DOM
13. 2026-06-05
    days on market $249,900 Active 17 DOM
14. 2026-06-03
    days on market $249,900 Active 16 DOM
15. 2026-06-02
    days on market $249,900 Active 15 DOM
16. 2026-06-01
    days on market $249,900 Active 14 DOM
17. 2026-05-31
    days on market $249,900 Active 13 DOM
18. 2026-05-30
    days on market $249,900 Active 12 DOM
19. 2026-05-18
    listed $249,900 Active
20. 2015-10-30
    soldstatus $35,600 Sold 181-char remark

    Show marketing remark (181 chars)

    Great Investment! Cash flow, home includes 2 units with 2 bedrooms and 1 bathroom each. Great for investors!! Property in need of some TLC, but will be a great home to a new family.

21. 2015-10-01
    status Pending 181-char remark

    Show marketing remark (181 chars)

    Great Investment! Cash flow, home includes 2 units with 2 bedrooms and 1 bathroom each. Great for investors!! Property in need of some TLC, but will be a great home to a new family.

22. 2015-09-23
    price $35,600 181-char remark

    Show marketing remark (181 chars)

    Great Investment! Cash flow, home includes 2 units with 2 bedrooms and 1 bathroom each. Great for investors!! Property in need of some TLC, but will be a great home to a new family.

23. 2015-09-03
    listed $37,500 Active 181-char remark

    Show marketing remark (181 chars)

    Great Investment! Cash flow, home includes 2 units with 2 bedrooms and 1 bathroom each. Great for investors!! Property in need of some TLC, but will be a great home to a new family.

24. 2015-05-04
    historical 300-char remark

    Show marketing remark (300 chars)

    Siding, Roof, Windows, both Furnaces, and basement Waterproofing (Ever-Dry), Sump Pump, exterior brick walkways all new in 2009. Nice deck and brick patio out back, plus a garden pond. Interior cosmetic work is only partially done. Upper unit needs more cosmetic work than lower unit. 2.5 car garage.

25. 2014-11-07
    status Active 300-char remark

    Show marketing remark (300 chars)

    Siding, Roof, Windows, both Furnaces, and basement Waterproofing (Ever-Dry), Sump Pump, exterior brick walkways all new in 2009. Nice deck and brick patio out back, plus a garden pond. Interior cosmetic work is only partially done. Upper unit needs more cosmetic work than lower unit. 2.5 car garage.

26. 2014-11-04
    historical 300-char remark

    Show marketing remark (300 chars)

    Siding, Roof, Windows, both Furnaces, and basement Waterproofing (Ever-Dry), Sump Pump, exterior brick walkways all new in 2009. Nice deck and brick patio out back, plus a garden pond. Interior cosmetic work is only partially done. Upper unit needs more cosmetic work than lower unit. 2.5 car garage.

27. 2014-09-05
    listed $85,000 Active 300-char remark

    Show marketing remark (300 chars)

    Siding, Roof, Windows, both Furnaces, and basement Waterproofing (Ever-Dry), Sump Pump, exterior brick walkways all new in 2009. Nice deck and brick patio out back, plus a garden pond. Interior cosmetic work is only partially done. Upper unit needs more cosmetic work than lower unit. 2.5 car garage.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast WI · Partial reset (capped growth)

• Current annual tax: $4,280 · $357/mo
• Projected year-2 tax: $4,452 · $371/mo
• Expected delta: +$172/yr (+$14/mo · 4.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,692
• − Mortgage interest: −$13,998
• − Property taxes: −$4,280
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,295
• − Management: −$2,295
• − Depreciation: −$7,270
• Taxable loss: −$2,696
• Est. tax savings @ 24.0%: +$647
• After-tax cash flow: $2,058/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Racine Unified School District
• NCES district ID: 5512360
• Math proficiency: 12% ▼ -7.00%
• Reading proficiency: 20% ▬ 0.00%
• Median HH income: $50,716
• Composite: 14.64/100
• National rank: #9405
• State rank: #335 of 342 in WI

Livability — Racine

• Score: 80/100
• State rank: #58
• US rank: #1622

Category grades

Amenities B- Commute A+ Cost of living A+ Crime C Employment D Housing A+ Health & safety A+ User ratings D

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Racine, WI
• County: Racine County · 146,693 people
• City population: 67,505
• Metro: Racine, WI
• Population (ZIP): 26,793
• Household income: $69,242
• Rent vs Own: 23.7% rent · 76.3% own
• Severe rent burden: 430.0

Population outlook (Racine County) Hauer SSP2

• Today (2025): 195,281 people
• By 2030: 193,725 · -0.8%
• By 2040: 188,159 · -3.6%
• By 2050: 181,323 · -7.1%
• By 2075: 174,342 · -10.7%
• By 2100: 166,870 · -14.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 63% Hispanic / Latino 17% Two or more races 15% Black 12% Asian 1%
• Hispanic origin (detail): Mexican 15% Puerto Rican 1%
• Common ancestry: Romanian 7% Portuguese 4% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 91% English-only · Spanish 7% German/W. Germanic 1%

Political lean MEDSL · Racine

• 2024 margin: Lean R (+6.2) · D 46.3% · R 52.5% · Other 1.2%
• 2008→2024 swing: -13.6pp toward R · 2008: 7.4pp · 2024: -6.2pp
• All cycles: 2024: R+6.2 2020: R+4.1 2016: R+4.4 2012: D+3.6 2008: D+7.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -220.43%
• Current HPI: 189.5192
• Rent YoY: —
• Metro: Racine, WI
• State GDP YoY: ▲ 2.10%
• F500 in state: 20

Industry mix (Fortune 500 HQ in WI)

Industry	F500 HQs	Revenue
▸Industrial Machinery	4	$23B
▸Industrial Technology	2	$36B
▸Insurance	1	$36B
▸Professional Services	1	$19B
▸Utilities	1	$9B
▸Consumer Goods	1	$3B

Price history

+194.0% since first listed

9 events — show timeline

• 2026-05-18 Listed $249,900 METROMLS
• 2015-10-30 Sold (MLS) $35,600 METROMLS
• 2015-10-01 Pending — METROMLS
• 2015-09-23 Price Changed $35,600 METROMLS
• 2015-09-03 Listed $37,500 METROMLS
• 2015-05-04 Listing Removed — METROMLS
• 2014-11-07 Relisted — METROMLS
• 2014-11-04 Listing Removed — METROMLS
• 2014-09-05 Listed $85,000 METROMLS

Property tax history

+3.4%/yr

Latest (2025): $4,280 · +42.2% YoY. Source: county tax records.