7516 37th Ave #7518 · Kenosha, WI 53142

$339,900

6 bd · 4.0 ba · 2,200 sqft · MultiFamily · 3 Days on market

Built 1958 Fair condition 6,098 sqft lot

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Why this score? — see what drove the C- 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 +21.4/30.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• 1% rule +5.6/10.0
• Livability +4.2/5.0
• Rent growth +3.5/5.0
• Schools +2.5/10.0
• Condition / age +2.2/5.0
• 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

Attention all investors! This is an exceptional investment opportunity to acquire a premium-built side by side duplex by renowned builder Jack Lehman. Whether you choose to rent out both units or reside in one while renting out the other, this duplex offers you endless possibilities. Recent upgrades include newer windows installed in 2022 & 2021, along with additional attic insulation. Each unit boasts private entrances, a spacious living room, an eat-in kitchen with an adjacent dining area, 1 bed, & 1 full bath. The finished basements, provide extra living space, & 1 of the units even has a delightful screened-in porch. 2-car detached garage. Conveniently situated just minutes away from parks, schools, stores, and other amenities, making it a highly desirable location for renters.

Key facts

• 6,098 sq ft lot
• 2 garage spots
• Built 1958

Property features AI

Finance

• Other: Includes appliances listed per unit; tenant personal property excluded

Exterior

• Parking: Detached 2-car garage; 1 additional parking space
• Utilities: Municipal water; Municipal sewer; 2 electric meters; 2 gas meters
• Home design: Duplex (side-by-side); Multi-family property; Estimated living area in the 1001-1250 sq ft range per unit
• Construction: Less than 1/2 acre lot (0.14 acre); Zoned RG-1
• Exterior features: Vinyl exterior

Interior

• Kitchen: Unit 1: Oven/Range, Refrigerator; Unit 2: Oven/Range, Refrigerator (kitchen on main level, ~9 x 12)
• Bedrooms: Unit 1: 1 bedroom; Unit 2: 2 bedrooms (master on main level, 13 x 12)
• Bathrooms: Unit 1: 1 full bathroom; Unit 2: 1 full bathroom
• Interior features: Full basement
• Laundry & utility: Separate utility meters (see Utilities section)

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $340k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $507 ($6k/yr) — positive. Per door: $253/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $340k).
• Cap rate 8.1% vs local median 3.8% in Kenosha — 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 84/100 on livability (#31 in WI, #680 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, schools D+.
• Kenosha School District (suburban): math 26% / reading 31% proficiency, ranked #287 of 342 in WI (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+4.1%/yr); 69 active listings in the ZIP; solid renter incomes; 259 units permitted in Kenosha County in 2024 (8 in 5+ unit buildings).
• At $3,615/mo this rent would consume 49% of the median local household income ($89k/yr) (locally 725% 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 $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y 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 $220k; list at $340k implies a 55% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $339,900

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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1958 — 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. 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.
8. 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.
9. 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: 1.06% ✓
• Cap rate: 8.08%
• Cash-on-cash: 6.39%
• DSCR: 1.28
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.12% rent growth · sell at horizon

5-year hold

• IRR: -5.2%
• Equity multiple: 0.80×
• Total profit: $-18,622
• Equity at exit: $50,680

10-year hold

• IRR: 5.8%
• Equity multiple: 1.45×
• Total profit: $42,869
• Equity at exit: $29,388

Cash invested: $95,172 (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 53142

• Rents YoY: 4.1%
• Active inventory: 69
• Price-to-rent: 15.7×

Monthly cashflow live

• Estimated rent: $3,615 high
• Mortgage (P&I): −$1,782
• Tax est. 1.5%: −$425 /mo · $5,098/yr
• Insurance: −$142
• HOA: −$0
• Vacancy / Maint / Mgmt: −$759
• Net cashflow: $507

Break-even live

Break-even rent $2,973

Max offer price $339,900

Occupancy floor 81%

Sensitivity live

Price	-10% $742	-5% $624	+0% $507	+5% $389	+10% $272
Rent	-10% $221	-5% $364	+0% $507	+5% $650	+10% $792
Rate	-1.0pp $678	-0.5pp $593	base $507	+0.5pp $419	+1.0pp $329

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,616
Total (2 units)			$3,615

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: $84,975
• Closing costs: $10,197
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-04-14
   status Pending
2. 2026-04-10
   listed $339,900 Active
3. 2023-04-14
   soldstatus $220,000 Sold 808-char remark

   Show marketing remark (808 chars)

   Attention all investors! This is an exceptional investment opportunity to acquire a premium-built side by side duplex by renowned builder Jack Lehman. Whether you choose to rent out both units or reside in one while renting out the other, this duplex offers you endless possibilities. Recent upgrades include newer windows installed in 2022 & 2021, along with additional attic insulation. Each unit boasts private entrances, a spacious living room, an eat-in kitchen with an adjacent dining area, 1 bed, & 1 full bath. The finished basements, provide extra living space, & 1 of the units even has a delightful screened-in porch. 2-car detached garage. Conveniently situated just minutes away from parks, schools, stores, and other amenities, making it a highly desirable location for renters.

4. 2023-03-18
   status Pending 808-char remark

   Show marketing remark (808 chars)

   Attention all investors! This is an exceptional investment opportunity to acquire a premium-built side by side duplex by renowned builder Jack Lehman. Whether you choose to rent out both units or reside in one while renting out the other, this duplex offers you endless possibilities. Recent upgrades include newer windows installed in 2022 & 2021, along with additional attic insulation. Each unit boasts private entrances, a spacious living room, an eat-in kitchen with an adjacent dining area, 1 bed, & 1 full bath. The finished basements, provide extra living space, & 1 of the units even has a delightful screened-in porch. 2-car detached garage. Conveniently situated just minutes away from parks, schools, stores, and other amenities, making it a highly desirable location for renters.

5. 2023-03-15
   historical 808-char remark

   Show marketing remark (808 chars)

   Attention all investors! This is an exceptional investment opportunity to acquire a premium-built side by side duplex by renowned builder Jack Lehman. Whether you choose to rent out both units or reside in one while renting out the other, this duplex offers you endless possibilities. Recent upgrades include newer windows installed in 2022 & 2021, along with additional attic insulation. Each unit boasts private entrances, a spacious living room, an eat-in kitchen with an adjacent dining area, 1 bed, & 1 full bath. The finished basements, provide extra living space, & 1 of the units even has a delightful screened-in porch. 2-car detached garage. Conveniently situated just minutes away from parks, schools, stores, and other amenities, making it a highly desirable location for renters.

6. 2023-02-15
   listed $249,000 Active 808-char remark

   Show marketing remark (808 chars)

   Attention all investors! This is an exceptional investment opportunity to acquire a premium-built side by side duplex by renowned builder Jack Lehman. Whether you choose to rent out both units or reside in one while renting out the other, this duplex offers you endless possibilities. Recent upgrades include newer windows installed in 2022 & 2021, along with additional attic insulation. Each unit boasts private entrances, a spacious living room, an eat-in kitchen with an adjacent dining area, 1 bed, & 1 full bath. The finished basements, provide extra living space, & 1 of the units even has a delightful screened-in porch. 2-car detached garage. Conveniently situated just minutes away from parks, schools, stores, and other amenities, making it a highly desirable location for renters.

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $43,380
• − Mortgage interest: −$19,040
• − Property taxes: −$5,098
• − Insurance: −$1,700
• − Repairs & maintenance: −$3,470
• − Management: −$3,470
• − Depreciation: −$9,888
• Taxable income: $714
• Est. tax owed @ 24.0%: −$171
• After-tax cash flow: $5,911/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.

Condition & rehab AI · 2 photos

Fair 45/100 Moderate rehab

This multi-family property requires moderate repairs to its exterior and landscaping, but has potential for significant value increase with fresh paint and landscaping improvements.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Minor landscaping — Overgrown bushes and patches of snow

Value-add opportunities

• Resale paint exterior — Fresh paint can significantly improve curb appeal
• Rental landscaping — Well-maintained landscaping can attract tenants
• Both repair exterior siding — Aesthetic improvements can boost both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
landscaping · Overgrown bushes and patches of snow	Minor	$500–3,000
Total estimated repair cost · 2 items		$15,500–53,000

Value-add ROI direction

• Resale paint exterior — Fresh paint can significantly improve curb appeal ↑
• Rental landscaping — Well-maintained landscaping can attract tenants ↑
• Both repair exterior siding — Aesthetic improvements can boost both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Kenosha School District
• NCES district ID: 5507320
• Math proficiency: 26% ▼ -9.00%
• Reading proficiency: 31% ▼ -6.00%
• Median HH income: $52,407
• Composite: 25.17/100
• National rank: #7516
• State rank: #287 of 342 in WI

Livability — Kenosha

• Score: 84/100
• State rank: #31
• US rank: #680

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kenosha, WI
• County: Kenosha County · 130,343 people
• City population: 85,271
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 34,144
• Household income: $88,960
• Rent vs Own: 28.3% rent · 71.7% own
• Severe rent burden: 725.0

Population outlook (Kenosha County) Hauer SSP2

• Today (2025): 174,032 people
• By 2030: 174,923 · +0.5%
• By 2040: 173,895 · -0.1%
• By 2050: 170,102 · -2.3%
• By 2075: 162,952 · -6.4%
• By 2100: 154,781 · -11.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 16% Two or more races 14% Black 6% Asian 3%
• Hispanic origin (detail): Mexican 12% Puerto Rican 2%
• Common ancestry: Romanian 7% Portuguese 2% Lithuanian 2%
• Foreign-born: 10% · Canada, China
• Languages at home: 83% English-only · Spanish 12% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Kenosha

• 2024 margin: Lean R (+6.2) · D 46.2% · R 52.5% · Other 1.3%
• 2008→2024 swing: -24.3pp toward R · 2008: 18.1pp · 2024: -6.2pp
• All cycles: 2024: R+6.2 2020: R+3.1 2016: R+0.3 2012: D+12.3 2008: D+18.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -224.61%
• Current HPI: 238.3837
• Rent YoY: ▲ 4.12%
• Metro: Chicago-Naperville-Elgin, IL-IN-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

+36.5% since first listed

6 events — show timeline

• 2026-04-14 Pending — METROMLS
• 2026-04-10 Listed $339,900 METROMLS
• 2023-04-14 Sold (MLS) $220,000 METROMLS
• 2023-03-18 Pending — METROMLS
• 2023-03-15 Listing Removed — METROMLS
• 2023-02-15 Listed $249,000 METROMLS