2619 W High St · Racine, WI 53404

$175,000

4 bd · 2.0 ba · 1,872 sqft · MultiFamily public records · 29 Days on market

Built 1914 3,484 sqft lot Est $174k · at est.

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.3/15.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• 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

Spacious with separate utilities close to schools and shopping.

Key facts

• 3,484 sq ft lot
• Built 1914
• Listed 29 days

Property features AI

Exterior

• Utilities: Municipal water; Municipal sewer
• Home design: 2-story duplex; Multi-family property
• Construction: Year built: Assessor/Public Record
• Exterior features: Other exterior; Lot size approximately 0.08 acres; Zoned R3

Interior

• Kitchen: Unit 2 kitchen on upper level; Lower unit includes stove and refrigerator; upper unit includes seller's appliances
• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 2 bedrooms (master and second bedroom on upper level)
• Bathrooms: Unit 1: 1 full bathroom; Unit 2: 1 full bathroom
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $175k.

Deal economics

• At list price, monthly cash flow is $848 ($10k/yr) — positive. Per door: $424/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $175k).
• Recommended offer: $172k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.1% vs local median 4.0% 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, schools 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.
• Market conditions: 24 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 505 units permitted in Racine County in 2024 (287 in 5+ unit buildings).
• At $2,755/mo this rent would consume 66% of the median local household income ($50k/yr) (locally 746% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $49k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y 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 $84k; list at $175k implies a 108% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $172,375 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.57% ✓
• Cap rate: 12.11%
• Cash-on-cash: 20.77%
• DSCR: 1.92
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $174,096
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2619 W High St	0.00mi	4/2.0	1,872 (0%)	1mo	$170,000	$91	99
1927 Harriet St	0.38mi	4/2.0	1,920 (+3%)	8mo	$170,000	$89	71
2301 W High St	0.18mi	4/2.0	1,699 (-9%)	12mo	$180,000	$106	66
332 Luedtke Ave	0.66mi	4/2.0	1,760 (-6%)	6mo	$175,000	$99	54
1108 Reschke Ave	0.27mi	4/2.0	1,616 (-14%)	15mo	$160,000	$99	52
431 West Blvd	0.68mi	4/2.0	2,050 (+10%)	2mo	$228,000	$111	51
218 Island Ave	0.49mi	3/2.0 (-1)	1,616 (-14%)	2mo	$232,000	$144	48
1100 Howard St	0.20mi	5/2.0 (+1)	1,642 (-12%)	21mo	$142,000	$86	48
1234 Blake Ave	0.55mi	5/2.0 (+1)	2,094 (+12%)	4mo	$185,000	$88	46
1312 Carlisle Ave	0.48mi	5/2.0 (+1)	2,080 (+11%)	10mo	$181,000	$87	46
1627 Liberty St	0.74mi	5/2.0 (+1)	1,762 (-6%)	14mo	$164,000	$93	39
1601 State St	0.73mi	4/3.5	2,067 (+10%)	18mo	$134,900	$65	28

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: 13.2%
• Equity multiple: 1.53×
• Total profit: $25,785
• Equity at exit: $26,093

10-year hold

• IRR: 22.1%
• Equity multiple: 2.89×
• Total profit: $92,489
• Equity at exit: $15,131

Cash invested: $49,000 (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 53404

• Home prices YoY: -33.1%
• Active inventory: 24
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $2,755 high
• Mortgage (P&I): −$918
• Tax from tax record: −$338 /mo · $4,050/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$579
• Net cashflow: $848

Break-even live

Break-even rent $1,681

Max offer price $175,000

Occupancy floor 64%

Sensitivity live

Price	-10% $947	-5% $898	+0% $848	+5% $799	+10% $749
Rent	-10% $631	-5% $739	+0% $848	+5% $957	+10% $1,066
Rate	-1.0pp $936	-0.5pp $893	base $848	+0.5pp $803	+1.0pp $757

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,756
Total (2 units)			$2,755

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2220 Northwestern Ave Racine, WI	1.0–3.0	1.0–2.0	899	$2,175	$2.42	14d	19	0.28mi
945 N Memorial Dr Unit 1-2-3 Racine, WI	3.0	1.0	1500	$1,450	$0.97	21d	1	0.72mi
3224 Osborne Blvd Racine, WI	3.0	2.0	1696	$2,200	$1.30	21d	1	0.91mi
1300 Buchanan St Racine, WI	5.0	1.5	2282	$1,850	$0.81	21d	1	1.26mi
1210 Erie St Racine, WI	3.0	1.0	1350	$1,150	$0.85	14d	1	1.31mi
1840 Saint Clair St Racine, WI	3.0	1.0	1250	$1,350	$1.08	21d	1	1.34mi

Listing history 8 events

1. 2026-05-13
   status Pending
2. 2026-04-13
   listed $175,000 Active
3. 2016-08-02
   historical 63-char remark

   Show marketing remark (63 chars)

   Spacious with separate utilities close to schools and shopping.

4. 2016-06-15
   price $59,000 63-char remark

   Show marketing remark (63 chars)

   Spacious with separate utilities close to schools and shopping.

5. 2016-04-24
   status Active 63-char remark

   Show marketing remark (63 chars)

   Spacious with separate utilities close to schools and shopping.

6. 2016-04-24
   historical 63-char remark

   Show marketing remark (63 chars)

   Spacious with separate utilities close to schools and shopping.

7. 2015-10-27
   listed $69,000 Active 63-char remark

   Show marketing remark (63 chars)

   Spacious with separate utilities close to schools and shopping.

8. 2001-01-09
   soldstatus $84,000

ⓘ 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: $4,050 · $338/mo
• Projected year-2 tax: $4,050 · $338/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥95°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: $33,060
• − Mortgage interest: −$9,803
• − Property taxes: −$4,050
• − Insurance: −$875
• − Repairs & maintenance: −$2,645
• − Management: −$2,645
• − Depreciation: −$5,091
• Taxable income: $7,952
• Est. tax owed @ 24.0%: −$1,908
• After-tax cash flow: $8,271/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): 13,703
• Household income: $50,428
• Rent vs Own: 50.3% rent · 49.7% own
• Severe rent burden: 746.0

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 0.67)
• Race & ethnicity: Hispanic / Latino 40% White 35% Black 21% Two or more races 21%
• Hispanic origin (detail): Mexican 34% Puerto Rican 5%
• Common ancestry: Romanian 4% Lithuanian 2% Iranian 2%
• Foreign-born: 7% · Canada, South Korea
• Languages at home: 83% English-only · Spanish 14% Other Indo-European 1% Tagalog/Filipino 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: ▼ -104.32%
• Current HPI: 210.906
• 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

+108.3% since first listed

8 events — show timeline

• 2026-05-13 Pending — METROMLS
• 2026-04-13 Listed $175,000 METROMLS
• 2016-08-02 Listing Removed — METROMLS
• 2016-06-15 Price Changed $59,000 METROMLS
• 2016-04-24 Relisted — METROMLS
• 2016-04-24 Listing Removed — METROMLS
• 2015-10-27 Listed $69,000 METROMLS
• 2001-01-09 Sold (Public Records) $84,000 Public Records

Property tax history

+0.6%/yr

Latest (2025): $4,050 · +11.1% YoY. Source: county tax records.