1648 Boyd Ave · Racine, WI 53405

$144,900

4 bd · 1.0 ba · 1,597 sqft · SingleFamily public records · 8 Days on market

Built 1909 4,791 sqft lot Est $235k · 38% under

---

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 +23.2/30.0
• ARV discount +15.0/15.0
• 1% rule +7.7/10.0
• DSCR +7.5/10.0
• 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

Listing remarks MLS

Perfect home for a family! Three bedrooms on upper level with a full bathroom! Lower level has all new hardwood floors. Large fenced back yard with a patio/vineyard! Also included is a playhouse and a 1.5 car garage! Move in ready!

Key facts

• Dog park
• Ball fields
• Detached garage

Tags

• DETACHED GARAGE
• WELL-ESTABLISHED NEIGHBORHOOD
• EASY ACCESS TO LOCAL PARKS
• MINUTES FROM ISLAND PARK
• BALL FIELDS
• DOG PARK

Property features AI

Exterior

• Parking: Detached 1-car garage with opener; 1.5 garage parking spaces (total)
• Utilities: Municipal water; Municipal sewer
• Home design: Single-family home; 2-story; Year built per assessor/public record
• Construction: Wood exterior
• Exterior features: Deck; Fenced yard; Garden shed (outbuilding); Sidewalks

Interior

• Kitchen: Kitchen on main level — 12 x 9
• Bedrooms: Master bedroom (upper level) — 13 x 11; Bedroom 2 (upper level) — 12 x 11; Bedroom 3 (upper level) — 12 x 8
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air; Forced air heating; Natural gas heating
• Interior features: Full basement; Den/office on main level

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $264 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Cap rate 8.5% 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: 45 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 32% 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 $1k of loan paydown is wiped out by about $4k 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

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 13y 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 $77k; list at $145k implies a 88% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1909 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $144,900

Questions for the listing agent

1. Built in 1909 — 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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.27% ✓
• Cap rate: 8.48%
• Cash-on-cash: 7.80%
• DSCR: 1.35
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $234,759
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1604 Grange Ave	0.20mi	4/1.5	1,626 (+2%)	1mo	$260,000	$160	85
1701 Boyd Ave	0.04mi	3/1.5 (-1)	1,503 (-6%)	2mo	$200,900	$134	80
1632 Holmes Ave	0.07mi	3/2.0 (-1)	1,436 (-10%)	1mo	$165,000	$115	70
2717 Washington Ave	0.39mi	3/1.5 (-1)	1,543 (-3%)	2mo	$225,000	$146	67
2910 Olive St	0.65mi	4/1.0	1,623 (+2%)	0mo	$185,000	$114	67
2045 Quincy Ave	0.50mi	3/1.0 (-1)	1,517 (-5%)	0mo	$242,000	$160	63
1925 Kearney Ave	0.31mi	4/1.5	1,803 (+13%)	2mo	$243,000	$135	60
1949 Jay Eye See Ave	0.43mi	3/2.0 (-1)	1,700 (+6%)	1mo	$239,000	$141	60
3325 15th St	0.62mi	3/2.0 (-1)	1,645 (+3%)	2mo	$245,000	$149	56
2207 Hamilton Ave	0.70mi	3/1.5 (-1)	1,622 (+2%)	3mo	$240,000	$148	56
1629 West Blvd	0.40mi	4/2.5	1,357 (-15%)	2mo	$200,000	$147	49
1330 Hayes Ave	0.65mi	5/2.0 (+1)	1,400 (-12%)	1mo	$265,000	$189	39

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: -4.3%
• Equity multiple: 0.84×
• Total profit: $-6,540
• Equity at exit: $21,605

10-year hold

• IRR: 5.5%
• Equity multiple: 1.41×
• Total profit: $16,508
• Equity at exit: $12,528

Cash invested: $40,572 (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: 45
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,834 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$365 /mo · $4,379/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $264

Break-even live

Break-even rent $1,500

Max offer price $144,900

Occupancy floor 81%

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2328 21st St Racine, WI	3.0	1.0	1239	$1,750	$1.41	13d	1	0.45mi
3224 Osborne Blvd Racine, WI	3.0	2.0	1696	$2,200	$1.30	20d	1	1.09mi
1612 Winslow St Racine, WI	3.0	1.0	1200	$1,300	$1.08	20d	1	1.23mi
1722 Wisconsin Ave Unit 2 Racine, WI	3.0	1.0	1380	$1,860	$1.35	20d	1	1.23mi

Listing history 8 events

1. 2026-06-19
   days on market $144,900 Active 8 DOM
2. 2026-06-18
   days on market $144,900 Active 7 DOM
3. 2026-06-17
   days on market $144,900 Active 6 DOM
4. 2026-06-16
   days on market $144,900 Active 5 DOM
5. 2026-06-15
   days on market $144,900 Active 4 DOM
6. 2026-06-14
   days on market $144,900 Active 2 DOM
7. 2026-06-13
   remarks 549-char remark
8. 2026-06-13
   listed $144,900 Active 1 DOM

ⓘ 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: $4,379 · $365/mo
• Projected year-2 tax: $4,379 · $365/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 · 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: $22,008
• − Mortgage interest: −$8,117
• − Property taxes: −$4,379
• − Insurance: −$724
• − Repairs & maintenance: −$1,761
• − Management: −$1,761
• − Depreciation: −$4,215
• Taxable income: $1,052
• Est. tax owed @ 24.0%: −$253
• After-tax cash flow: $2,913/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

+88.4% since first listed

6 events — show timeline

• 2026-06-11 Listed $144,900 METROMLS
• 2014-08-01 Listing Removed — METROMLS
• 2014-08-01 Listed $99,900 METROMLS
• 2013-02-10 Listing Removed — METROMLS
• 2013-02-10 Listed $119,900 METROMLS
• 2000-04-20 Sold (Public Records) $76,900 Public Records

Property tax history

+4.5%/yr

Latest (2025): $4,379 · +11.0% YoY. Source: county tax records.