1009 Hilker Pl · Racine, WI 53403

$90,000

3 bd · 1.0 ba · 1,081 sqft · SingleFamily public records · 155 Days on market

Built 1911 4,356 sqft lot $83/sqft · at area comps Est $88k · at est.

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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 +23.3/30.0
• 1% rule +8.7/10.0
• DSCR +7.5/10.0
• ARV discount +6.5/15.0
• 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

Listing remarks MLS

Are you looking for your next project? This property only needs a little more TLC to get completed. All new plumbing, electrical, windows and flooring have already been completed. Property being sold as is.

Key facts

• New plumbing
• New flooring
• New electrical

Tags

• NEW PLUMBING
• NEW ELECTRICAL
• NEW WINDOWS
• NEW FLOORING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $164 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• 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: Rents rising fast (+5.8%/yr); 91 active listings in the ZIP; 12 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k 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 $25k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 155 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 8 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 $20k; list at $90k implies a 350% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.0% of price; built in 1911 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 155 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1911 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 1.37% ✓
• Cap rate: 8.48%
• Cash-on-cash: 7.83%
• DSCR: 1.35
• GRM: 6.1

CMA / ARV

• ARV (median comp): $88,079
• List price: $90,000
• Delta: 2.18%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
943 Walnut St	0.11mi	3/2.0	1,136 (+5%)	7mo	$210,000	$185	76
265 Harrison St	0.47mi	3/1.0	1,080 (-0%)	4mo	$30,000	$28	74
1133 Grand Ave	0.27mi	4/1.0 (+1)	1,114 (+3%)	6mo	$160,000	$144	73
408 Randolph St	0.52mi	3/1.0	1,061 (-2%)	4mo	$70,000	$66	69
228 N Memorial Dr	0.41mi	4/1.0 (+1)	1,116 (+3%)	3mo	$25,000	$22	68
945 Villa St	0.29mi	3/1.0	1,184 (+10%)	4mo	$135,000	$114	67
1220 S Memorial Dr	0.41mi	3/1.0	1,024 (-5%)	8mo	$140,000	$137	66
1550 Packard Ave	0.70mi	3/1.0	1,087 (+1%)	4mo	$72,500	$67	63
715 13th St	0.35mi	3/1.0	952 (-12%)	2mo	$183,000	$192	62
1618 Grand Ave	0.66mi	3/1.5	957 (-12%)	2mo	$210,000	$219	46
609 N Memorial Dr	0.64mi	2/1.0 (-1)	1,164 (+8%)	9mo	$110,000	$95	45
1441 Villa St	0.55mi	2/1.5 (-1)	936 (-13%)	8mo	$145,000	$155	38

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: -0.4%
• Equity multiple: 0.99×
• Total profit: $-365
• Equity at exit: $13,419

10-year hold

• IRR: 12.7%
• Equity multiple: 2.17×
• Total profit: $29,440
• Equity at exit: $7,782

Cash invested: $25,200 (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: 6.1×

Monthly cashflow live

• Estimated rent: $1,231 high
• Mortgage (P&I): −$472
• Tax from tax record: −$299 /mo · $3,585/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $164

Break-even live

Break-even rent $1,023

Max offer price $90,000

Occupancy floor 82%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
815 11th St Racine, WI	2.0	1.0	800	$1,100	$1.38	13d	1	0.13mi
922 Elm St Unit 922 Upper Racine, WI	2.0	1.0	777	$925	$1.19	21d	1	0.20mi
512 16th St Unit 2 Racine, WI	3.0	1.0	959	$1,095	$1.14	21d	1	0.64mi
1540 Park Ave Unit 301 Racine, WI	3.0	1.0	950	$1,200	$1.26	21d	1	0.64mi
1612 Winslow St Racine, WI	3.0	1.0	1200	$1,300	$1.08	21d	1	0.67mi
1722 Wisconsin Ave Unit 2 Racine, WI	3.0	1.0	1380	$1,860	$1.35	21d	1	0.85mi
945 N Memorial Dr Unit 1-2-3 Racine, WI	3.0	1.0	1500	$1,450	$0.97	21d	1	0.93mi
720 Chicago St Racine, WI	2.0	1.0	900	$1,200	$1.33	21d	1	0.95mi
1210 Erie St Racine, WI	3.0	1.0	1350	$1,150	$0.85	13d	1	1.06mi
1802 Grange Ave Unit 101 Racine, WI	2.0	1.0	1000	$1,400	$1.40	21d	1	1.31mi
2328 21st St Racine, WI	3.0	1.0	1239	$1,750	$1.41	13d	1	1.39mi
2200 Northwestern Ave Racine, WI	2.0	1.0–2.0	839	$1,825	$2.17	13d	12	1.46mi

Listing history 37 events

1. 2026-06-19
   days on market $90,000 Active 155 DOM
2. 2026-06-18
   days on market $90,000 Active 154 DOM
3. 2026-06-17
   days on market $90,000 Active 153 DOM
4. 2026-06-16
   days on market $90,000 Active 152 DOM
5. 2026-06-15
   days on market $90,000 Active 151 DOM
6. 2026-06-14
   days on market $90,000 Active 149 DOM
7. 2026-06-13
   days on market $90,000 Active 148 DOM
8. 2026-06-10
   days on market $90,000 Active 146 DOM
9. 2026-06-09
   days on market $90,000 Active 145 DOM
10. 2026-06-08
    days on market $90,000 Active 144 DOM
11. 2026-06-07
    days on market $90,000 Active 143 DOM
12. 2026-06-05
    days on market $90,000 Active 140 DOM
13. 2026-06-03
    days on market $90,000 Active 139 DOM
14. 2026-06-02
    days on market $90,000 Active 138 DOM
15. 2026-06-01
    days on market $90,000 Active 137 DOM
16. 2026-05-31
    days on market $90,000 Active 136 DOM
17. 2026-05-30
    days on market $90,000 Active 135 DOM
18. 2026-01-16
    historical 206-char remark

    Show marketing remark (206 chars)

    Are you looking for your next project? This property only needs a little more TLC to get completed. All new plumbing, electrical, windows and flooring have already been completed. Property being sold as is.

19. 2026-01-15
    listed $90,000 Active 206-char remark

    Show marketing remark (206 chars)

    Are you looking for your next project? This property only needs a little more TLC to get completed. All new plumbing, electrical, windows and flooring have already been completed. Property being sold as is.

20. 2026-01-15
    listed $90,000 Active 206-char remark

    Show marketing remark (206 chars)

    Are you looking for your next project? This property only needs a little more TLC to get completed. All new plumbing, electrical, windows and flooring have already been completed. Property being sold as is.

21. 2025-10-12
    historical
22. 2025-08-11
    price $80,000
23. 2025-07-29
    listed $90,000 Active
24. 2016-11-29
    historical
25. 2016-10-04
    soldstatus $20,000
26. 2016-02-18
    price $34,900
27. 2016-01-20
    price $39,900
28. 2015-11-30
    listed $44,900 Active
29. 2014-05-19
    historical
30. 2014-05-19
    listed $39,900
31. 2013-02-08
    historical
32. 2013-02-08
    listed $69,900
33. 2013-02-06
    listed $69,900
34. 2013-02-06
    historical
35. 2013-01-31
    historical
36. 2013-01-31
    listed $59,900
37. 2002-12-30
    soldstatus $18,500

ⓘ 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: $3,585 · $299/mo
• Projected year-2 tax: $3,585 · $299/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: $14,774
• − Mortgage interest: −$5,041
• − Property taxes: −$3,585
• − Insurance: −$450
• − Repairs & maintenance: −$1,182
• − Management: −$1,182
• − Depreciation: −$2,618
• Taxable income: $715
• Est. tax owed @ 24.0%: −$172
• After-tax cash flow: $1,801/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

+386.5% since first listed

20 events — show timeline

• 2026-01-16 Listing Removed — METROMLS
• 2026-01-15 Listed $90,000 METROMLS
• 2026-01-15 Listed $90,000 METROMLS
• 2025-10-12 Listing Removed — METROMLS
• 2025-08-11 Price Changed $80,000 METROMLS
• 2025-07-29 Listed $90,000 METROMLS
• 2016-11-29 Listing Removed — METROMLS
• 2016-10-04 Sold (Public Records) $20,000 Public Records
• 2016-02-18 Price Changed $34,900 METROMLS
• 2016-01-20 Price Changed $39,900 METROMLS
• 2015-11-30 Listed $44,900 METROMLS
• 2014-05-19 Listed $39,900 METROMLS
• 2014-05-19 Listing Removed — METROMLS
• 2013-02-08 Listed $69,900 METROMLS
• 2013-02-08 Listing Removed — METROMLS
• 2013-02-06 Listing Removed — METROMLS
• 2013-02-06 Listed $69,900 METROMLS
• 2013-01-31 Listed $59,900 METROMLS
• 2013-01-31 Listing Removed — METROMLS
• 2002-12-30 Sold (Public Records) $18,500 Public Records

Property tax history

+6.1%/yr

Latest (2025): $3,585 · -18.1% YoY. Source: county tax records.