1839 Mead St · Racine, WI 53403

$170,000

6 bd · 2.0 ba · 2,238 sqft · MultiFamily public records · 25 Days on market

Built 1913 4,356 sqft lot

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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 +7.5/15.0
• Rent growth +4.0/5.0
• Livability +4.0/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Terrific investor opportunity for this 3BR/3BR duplex with 1100 sf in each unit. Tenants have been in place for >2 years, at $900/mo. New furnaces in 2021, newer roof, vinyl windows. Upper unit has washer/dryer hookup capability in basement. Off street parking for two vehicles, and ample on-street parking. Seller is offering a home duplex warranty for 13 months. Refrigerators and oven/stoves included.

Key facts

• Off street parking
• Ample backyard
• Front porch

Tags

• OFF STREET PARKING
• FRONT PORCH
• AMPLE BACKYARD

Property features AI

Finance

• Other: Property includes 2 units

Exterior

• Parking: Attached garage
• Utilities: Municipal water; Separate meters: 2 electric meters, 2 gas meters
• Home design: 2-story duplex; Multi-family property; Zoning: R-3
• Construction: Year built: Other - see remarks
• Exterior features: Vinyl exterior; Lot less than 1/2 acre

Interior

• Kitchen: Unit 2 kitchen on upper level; Two refrigerators included
• Bedrooms: Unit 1: 3 bedrooms; Unit 2: 3 bedrooms (master and other bedrooms on upper level)
• Bathrooms: Unit 1: 1 full bath; Unit 2: 1 full bath
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $170k.

Deal economics

• At list price, monthly cash flow is $783 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $170k).
• Recommended offer: $167k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.8% 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: Rents rising fast (+5.8%/yr); 91 active listings in the ZIP; 505 units permitted in Racine County in 2024 (287 in 5+ unit buildings).
• At $2,701/mo this rent would consume 54% of the median local household income ($60k/yr) (locally 1164% 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 + 5.8% rent growth), your $48k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 11 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 $125k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1913 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $167,450 (1.5% below list)

Questions for the listing agent

1. Built in 1913 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.59% ✓
• Cap rate: 11.82%
• Cash-on-cash: 19.73%
• DSCR: 1.88
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $98,472
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1814 Center St	0.15mi	6/2.5	2,500 (+12%)	1mo	$110,000	$44	70
1801 Center St	0.18mi	5/2.0 (-1)	2,432 (+9%)	5mo	$135,000	$56	68
1808 Howe St	0.06mi	5/2.0 (-1)	2,030 (-9%)	23mo	$65,000	$32	57
1422 Racine St	0.47mi	6/2.0	2,182 (-2%)	22mo	$125,000	$57	55
1510 S Memorial Dr	0.55mi	7/2.0 (+1)	2,143 (-4%)	12mo	$38,000	$18	52
1636 S Memorial Dr	0.46mi	5/2.0 (-1)	2,532 (+13%)	4mo	$85,000	$34	48
1634 Washington Ave	0.64mi	5/2.0 (-1)	2,116 (-6%)	11mo	$90,000	$43	47
1504 Owen Ave	0.52mi	5/2.0 (-1)	1,909 (-15%)	2mo	$129,900	$68	45
1437 Wisconsin Ave	0.63mi	6/2.0	2,460 (+10%)	21mo	$190,000	$77	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 · 5.84% rent growth · sell at horizon

5-year hold

• IRR: 15.3%
• Equity multiple: 1.64×
• Total profit: $30,394
• Equity at exit: $25,348

10-year hold

• IRR: 26.2%
• Equity multiple: 3.64×
• Total profit: $125,793
• Equity at exit: $14,698

Cash invested: $47,600 (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 53403

• Rents YoY: 5.8%
• Active inventory: 91
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $2,701 high
• Mortgage (P&I): −$891
• Tax from tax record: −$389 /mo · $4,664/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$567
• Net cashflow: $783

Break-even live

Break-even rent $1,710

Max offer price $170,000

Occupancy floor 66%

Sensitivity live

Price	-10% $879	-5% $831	+0% $783	+5% $735	+10% $687
Rent	-10% $569	-5% $676	+0% $783	+5% $889	+10% $996
Rate	-1.0pp $868	-0.5pp $826	base $783	+0.5pp $739	+1.0pp $694

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$2,702
Total (2 units)			$2,701

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-13
   status $170,000 Pending 25 DOM
2. 2026-06-10
   days on market $170,000 Active 25 DOM
3. 2026-06-09
   days on market $170,000 Active 24 DOM
4. 2026-06-08
   days on market $170,000 Active 23 DOM
5. 2026-06-07
   days on market $170,000 Active 22 DOM
6. 2026-06-05
   days on market $170,000 Active 19 DOM
7. 2026-06-03
   days on market $170,000 Active 18 DOM
8. 2026-06-02
   days on market $170,000 Active 17 DOM
9. 2026-06-01
   days on market $170,000 Active 16 DOM
10. 2026-05-31
    days on market $170,000 Active 15 DOM
11. 2026-05-30
    days on market $170,000 Active 14 DOM
12. 2026-05-19
    status Active
13. 2026-03-25
    status Pending
14. 2026-03-21
    listed $170,000 Active
15. 2022-08-24
    soldstatus $124,765 Sold 407-char remark

    Show marketing remark (407 chars)

    Terrific investor opportunity for this 3BR/3BR duplex with 1100 sf in each unit. Tenants have been in place for >2 years, at $900/mo. New furnaces in 2021, newer roof, vinyl windows. Upper unit has washer/dryer hookup capability in basement. Off street parking for two vehicles, and ample on-street parking. Seller is offering a home duplex warranty for 13 months. Refrigerators and oven/stoves included.

16. 2022-08-22
    soldstatus $124,800
17. 2022-08-04
    historical Contingent 407-char remark

    Show marketing remark (407 chars)

    Terrific investor opportunity for this 3BR/3BR duplex with 1100 sf in each unit. Tenants have been in place for >2 years, at $900/mo. New furnaces in 2021, newer roof, vinyl windows. Upper unit has washer/dryer hookup capability in basement. Off street parking for two vehicles, and ample on-street parking. Seller is offering a home duplex warranty for 13 months. Refrigerators and oven/stoves included.

18. 2022-08-02
    price $129,900 407-char remark

    Show marketing remark (407 chars)

    Terrific investor opportunity for this 3BR/3BR duplex with 1100 sf in each unit. Tenants have been in place for >2 years, at $900/mo. New furnaces in 2021, newer roof, vinyl windows. Upper unit has washer/dryer hookup capability in basement. Off street parking for two vehicles, and ample on-street parking. Seller is offering a home duplex warranty for 13 months. Refrigerators and oven/stoves included.

19. 2022-07-06
    listed $135,900 Active 407-char remark

    Show marketing remark (407 chars)

    Terrific investor opportunity for this 3BR/3BR duplex with 1100 sf in each unit. Tenants have been in place for >2 years, at $900/mo. New furnaces in 2021, newer roof, vinyl windows. Upper unit has washer/dryer hookup capability in basement. Off street parking for two vehicles, and ample on-street parking. Seller is offering a home duplex warranty for 13 months. Refrigerators and oven/stoves included.

20. 2021-01-15
    soldstatus $107,000 Sold 489-char remark

    Show marketing remark (489 chars)

    Spacious two-family unit now available - a great cash flow opportunity! Both units are currently under lease at $900 per month. Lower unit occupants can relax on the ample front porch, and upper unit occupants will enjoy the balcony off the living room. Three bedrooms in each unit and full basement. Newer windows, separate utilities, with refrigerators and stoves included in each unit. Access to attic area could offer potential to construct additional rental space. Off street parking.

21. 2020-12-18
    historical Contingent 489-char remark

    Show marketing remark (489 chars)

    Spacious two-family unit now available - a great cash flow opportunity! Both units are currently under lease at $900 per month. Lower unit occupants can relax on the ample front porch, and upper unit occupants will enjoy the balcony off the living room. Three bedrooms in each unit and full basement. Newer windows, separate utilities, with refrigerators and stoves included in each unit. Access to attic area could offer potential to construct additional rental space. Off street parking.

22. 2020-11-18
    price $107,500 489-char remark

    Show marketing remark (489 chars)

    Spacious two-family unit now available - a great cash flow opportunity! Both units are currently under lease at $900 per month. Lower unit occupants can relax on the ample front porch, and upper unit occupants will enjoy the balcony off the living room. Three bedrooms in each unit and full basement. Newer windows, separate utilities, with refrigerators and stoves included in each unit. Access to attic area could offer potential to construct additional rental space. Off street parking.

23. 2020-10-30
    price $112,500 489-char remark

    Show marketing remark (489 chars)

    Spacious two-family unit now available - a great cash flow opportunity! Both units are currently under lease at $900 per month. Lower unit occupants can relax on the ample front porch, and upper unit occupants will enjoy the balcony off the living room. Three bedrooms in each unit and full basement. Newer windows, separate utilities, with refrigerators and stoves included in each unit. Access to attic area could offer potential to construct additional rental space. Off street parking.

24. 2020-10-01
    listed $120,000 Active 489-char remark

    Show marketing remark (489 chars)

    Spacious two-family unit now available - a great cash flow opportunity! Both units are currently under lease at $900 per month. Lower unit occupants can relax on the ample front porch, and upper unit occupants will enjoy the balcony off the living room. Three bedrooms in each unit and full basement. Newer windows, separate utilities, with refrigerators and stoves included in each unit. Access to attic area could offer potential to construct additional rental space. Off street parking.

25. 2019-10-28
    soldstatus $74,000
26. 2019-10-15
    soldstatus $74,000 Sold
27. 2019-10-09
    status Pending
28. 2019-10-01
    price $74,900
29. 2019-09-20
    status Active
30. 2019-07-16
    historical Contingent
31. 2019-06-29
    status Active
32. 2019-06-21
    historical Contingent
33. 2019-06-17
    price $79,900
34. 2019-06-08
    listed $84,900 Active
35. 2019-04-05
    soldstatus $37,000 Sold
36. 2019-03-25
    status Pending
37. 2019-03-20
    price $44,900
38. 2019-02-28
    price $49,900
39. 2019-01-10
    price $59,900
40. 2018-12-16
    price $62,900
41. 2018-10-30
    listed $67,900 Active
42. 2016-11-07
    historical
43. 2016-07-25
    listed $63,900 Active
44. 2015-12-15
    soldstatus $105,000
45. 2015-11-16
    soldstatus $20,000 Sold
46. 2015-11-12
    status Pending
47. 2015-11-01
    status Active
48. 2015-11-01
    historical
49. 2015-08-27
    historical Contingent
50. 2015-07-01
    price $34,900

ⓘ 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: $4,664 · $389/mo
• Projected year-2 tax: $4,664 · $389/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 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥95°F today · 14 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: $32,412
• − Mortgage interest: −$9,523
• − Property taxes: −$4,664
• − Insurance: −$850
• − Repairs & maintenance: −$2,593
• − Management: −$2,593
• − Depreciation: −$4,945
• Taxable income: $7,244
• Est. tax owed @ 24.0%: −$1,738
• After-tax cash flow: $7,655/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): 27,009
• Household income: $59,820
• Rent vs Own: 41.6% rent · 58.4% own
• Severe rent burden: 1164.0

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 0.69)
• Race & ethnicity: White 42% Black 27% Hispanic / Latino 24% Two or more races 16%
• Hispanic origin (detail): Mexican 19% Puerto Rican 3%
• Common ancestry: Romanian 3% Portuguese 2% Lithuanian 2%
• Foreign-born: 7% · Canada
• Languages at home: 84% English-only · Spanish 15%

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: ▼ -147.08%
• Current HPI: 191.0012
• Rent YoY: ▲ 5.84%
• 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

+142.9% since first listed

42 events — show timeline

• 2026-05-19 Relisted — METROMLS
• 2026-03-25 Pending — METROMLS
• 2026-03-21 Listed $170,000 METROMLS
• 2022-08-24 Sold (MLS) $124,765 METROMLS
• 2022-08-22 Sold (Public Records) $124,800 Public Records
• 2022-08-04 Contingent — METROMLS
• 2022-08-02 Price Changed $129,900 METROMLS
• 2022-07-06 Listed $135,900 METROMLS
• 2021-01-15 Sold (MLS) $107,000 METROMLS
• 2020-12-18 Contingent — METROMLS
• 2020-11-18 Price Changed $107,500 METROMLS
• 2020-10-30 Price Changed $112,500 METROMLS
• 2020-10-01 Listed $120,000 METROMLS
• 2019-10-28 Sold (Public Records) $74,000 Public Records
• 2019-10-15 Sold (MLS) $74,000 METROMLS
• 2019-10-09 Pending — METROMLS
• 2019-10-01 Price Changed $74,900 METROMLS
• 2019-09-20 Relisted — METROMLS
• 2019-07-16 Contingent — METROMLS
• 2019-06-29 Relisted — METROMLS
• 2019-06-21 Contingent — METROMLS
• 2019-06-17 Price Changed $79,900 METROMLS
• 2019-06-08 Listed $84,900 METROMLS
• 2019-04-05 Sold (MLS) $37,000 METROMLS
• 2019-03-25 Pending — METROMLS
• 2019-03-20 Price Changed $44,900 METROMLS
• 2019-02-28 Price Changed $49,900 METROMLS
• 2019-01-10 Price Changed $59,900 METROMLS
• 2018-12-16 Price Changed $62,900 METROMLS
• 2018-10-30 Listed $67,900 METROMLS
• 2016-11-07 Listing Removed — METROMLS
• 2016-07-25 Listed $63,900 METROMLS
• 2015-12-15 Sold (Public Records) $105,000 Public Records
• 2015-11-16 Sold (MLS) $20,000 METROMLS
• 2015-11-12 Pending — METROMLS
• 2015-11-01 Relisted — METROMLS
• 2015-11-01 Listing Removed — METROMLS
• 2015-08-27 Contingent — METROMLS
• 2015-07-01 Price Changed $34,900 METROMLS
• 2015-05-05 Listed $39,900 METROMLS
• 2007-06-26 Sold (Public Records) $70,000 Public Records
• 2007-06-22 Sold (MLS) $70,000 METROMLS

Property tax history

+1.3%/yr

Latest (2025): $4,664 · +55.2% YoY. Source: county tax records.