2222 53rd St · Kenosha, WI 53140

$225,000

4 bd · 2.0 ba · 1,572 sqft · MultiFamily public records · 35 Days on market

Built 1908 4,791 sqft lot $143/sqft · 25% above area Est $181k · 25% over

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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 +27.5/30.0
• DSCR +9.6/10.0
• 1% rule +6.9/10.0
• Livability +4.2/5.0
• Rent growth +4.0/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• 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

This property could be your next investment and work for an owner/occupant or investor. Lots of perks with this property. New roof, newer windows, newer siding, new furnace, and detached garage for off street parking. Each unit is 2 bedrooms, 1 bathroom. Nice size kitchens and living areas. Also, each unit has it's own pantry for food. Also, nice size back yard that's fenced in. Could be great for family get togethers.

Key facts

• Fenced in backyard
• Full basement
• Roof replaced

Tags

• ROOF REPLACED
• WINDOWS AND SIDING
• FULL BASEMENT
• DETACHED GARAGE
• FENCED IN BACKYARD

Property features AI

Finance

• Other: Includes two oven/ranges and two refrigerators; tenants' personal property excluded
• Financial info: Property listed as a multi-family duplex with 2 units

Exterior

• Parking: Detached 1-car garage; Additional 1 parking space (total listed as 1 space)
• Utilities: Municipal water; Municipal sewer
• Home design: 2-story duplex; Multi-family property
• Construction: Assessor/public record year-built source (specific year not provided)
• Exterior features: Vinyl exterior; Lot less than 1/2 acre (approx. 0.11 acre); Zoned RES (residential)

Interior

• Kitchen: Unit 1: Kitchen included; Unit 2: Main level kitchen; Two oven/ranges and two refrigerators included
• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 2 bedrooms (master on main level; second bedroom on main level)
• Bathrooms: Unit 1: 1 full bath; Unit 2: 1 full bath
• Interior features: Full basement; Vinyl exterior noted (referenced under exterior)

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $225k.

Deal economics

• At list price, monthly cash flow is $662 ($8k/yr) — positive. Per door: $331/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $218k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 4.0% 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 (+6.0%/yr); 43 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; 259 units permitted in Kenosha County in 2024 (8 in 5+ unit buildings).
• At $2,686/mo this rent would consume 56% of the median local household income ($58k/yr) (locally 1576% 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 $7k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.0% rent growth), your $63k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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 $81k; list at $225k implies a 178% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1908 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $218,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1908 — 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: 1.19% ✓
• Cap rate: 9.82%
• Cash-on-cash: 12.61%
• DSCR: 1.56
• GRM: 7.0

CMA / ARV

• ARV (median comp): $180,655
• List price: $225,000
• Delta: 24.55%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5007 25th Ave	0.26mi	4/2.0	1,539 (-2%)	2mo	$217,500	$141	82
5428 25th Ave	0.20mi	4/2.0	1,668 (+6%)	9mo	$150,000	$90	73
4826 20th Ave	0.36mi	4/2.0	1,610 (+2%)	8mo	$205,000	$127	73
5011 22nd Ave	0.23mi	4/2.0	1,680 (+7%)	12mo	$177,777	$106	68
4413 19th Ave	0.62mi	3/2.0 (-1)	1,628 (+4%)	0mo	$178,000	$109	60
5003 26th Ave #5005	0.30mi	4/4.0	1,696 (+8%)	8mo	$338,000	$199	58
4508 25th Ave	0.55mi	4/2.0	1,459 (-7%)	14mo	$175,000	$120	50
1828 45th St	0.59mi	4/2.0	1,728 (+10%)	7mo	$250,000	$145	50
2014 45th St	0.55mi	4/2.0	1,728 (+10%)	15mo	$235,500	$136	45
5904 18th Ave	0.49mi	4/2.0	1,771 (+13%)	13mo	$203,000	$115	45
4202 21st Ave	0.74mi	3/2.0 (-1)	1,412 (-10%)	1mo	$219,900	$156	43
1706 59th St	0.50mi	3/2.0 (-1)	1,342 (-15%)	18mo	$130,000	$97	32

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 · 5.98% rent growth · sell at horizon

5-year hold

• IRR: 5.5%
• Equity multiple: 1.22×
• Total profit: $13,992
• Equity at exit: $33,548

10-year hold

• IRR: 17.4%
• Equity multiple: 2.63×
• Total profit: $102,600
• Equity at exit: $19,454

Cash invested: $63,000 (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 53140

• Rents YoY: 6.0%
• Active inventory: 43
• Price-to-rent: 14.0×

Monthly cashflow live

• Estimated rent: $2,686 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$186 /mo · $2,233/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$564
• Net cashflow: $662

Break-even live

Break-even rent $1,848

Max offer price $225,000

Occupancy floor 70%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,686
Total (2 units)			$2,686

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5432 23rd Ave Kenosha, WI	4.0	2.0	1400	$1,695	$1.21	3d	1	0.13mi
5807 20th Ave Unit 2 Kenosha, WI	3.0	1.0	1064	$2,400	$2.26	18d	1	0.41mi
2708 48th St Kenosha, WI	4.0	2.0	1200	$2,500	$2.08	22d	1	0.50mi
1510 57th St Unit 2 Kenosha, WI	4.0	2.0	1700	$1,800	$1.06	43d	1	0.51mi
1809 60th St Kenosha, WI	3.0	1.0	1100	$1,500	$1.36	43d	1	0.53mi
3905 29th Ave Kenosha, WI	3.0	2.0	1550	$1,600	$1.03	18d	1	1.08mi
2114 36th St Kenosha, WI	3.0	2.0	1889	$3,200	$1.69	43d	1	1.21mi

Listing history 19 events

1. 2026-06-18
   days on market $225,000 Active 35 DOM
2. 2026-06-17
   days on market $225,000 Active 34 DOM
3. 2026-06-16
   days on market $225,000 Active 33 DOM
4. 2026-06-15
   days on market $225,000 Active 32 DOM
5. 2026-06-13
   days on market $225,000 Active 30 DOM
6. 2026-06-09
   days on market $225,000 Active 26 DOM
7. 2026-06-08
   days on market $225,000 Active 25 DOM
8. 2026-06-07
   days on market $225,000 Active 24 DOM
9. 2026-06-04
   days on market $225,000 Active 21 DOM
10. 2026-06-03
    days on market $225,000 Active 20 DOM
11. 2026-06-02
    days on market $225,000 Active 19 DOM
12. 2026-06-01
    days on market $225,000 Active 18 DOM
13. 2026-05-31
    days on market $225,000 Active 17 DOM
14. 2026-05-14
    listed $225,000 Active 568-char remark
15. 2021-01-12
    soldstatus $81,000
16. 2021-01-08
    soldstatus $81,000 Sold 422-char remark

    Show marketing remark (422 chars)

    This property could be your next investment and work for an owner/occupant or investor. Lots of perks with this property. New roof, newer windows, newer siding, new furnace, and detached garage for off street parking. Each unit is 2 bedrooms, 1 bathroom. Nice size kitchens and living areas. Also, each unit has it's own pantry for food. Also, nice size back yard that's fenced in. Could be great for family get togethers.

17. 2020-12-06
    historical Contingent 422-char remark

    Show marketing remark (422 chars)

    This property could be your next investment and work for an owner/occupant or investor. Lots of perks with this property. New roof, newer windows, newer siding, new furnace, and detached garage for off street parking. Each unit is 2 bedrooms, 1 bathroom. Nice size kitchens and living areas. Also, each unit has it's own pantry for food. Also, nice size back yard that's fenced in. Could be great for family get togethers.

18. 2020-12-02
    listed $84,900 Active 422-char remark

    Show marketing remark (422 chars)

    This property could be your next investment and work for an owner/occupant or investor. Lots of perks with this property. New roof, newer windows, newer siding, new furnace, and detached garage for off street parking. Each unit is 2 bedrooms, 1 bathroom. Nice size kitchens and living areas. Also, each unit has it's own pantry for food. Also, nice size back yard that's fenced in. Could be great for family get togethers.

19. 1996-07-01
    soldstatus $69,000

ⓘ 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: $2,233 · $186/mo
• Projected year-2 tax: $3,198 · $266/mo
• Expected delta: +$965/yr (+$80/mo · 43.2%)

ⓘ 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 ≥96°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: $32,232
• − Mortgage interest: −$12,603
• − Property taxes: −$2,233
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,579
• − Management: −$2,579
• − Depreciation: −$6,545
• Taxable income: $4,568
• Est. tax owed @ 24.0%: −$1,096
• After-tax cash flow: $6,850/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: 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): 30,238
• Household income: $58,006
• Rent vs Own: 47.7% rent · 52.3% own
• Severe rent burden: 1576.0

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 (66%)
• Race & ethnicity: White 66% Hispanic / Latino 19% Two or more races 14% Black 9% Asian 2%
• Hispanic origin (detail): Mexican 14% Puerto Rican 2%
• Common ancestry: Romanian 7% Lithuanian 3% Portuguese 3%
• Foreign-born: 10% · Canada
• Languages at home: 83% English-only · Spanish 12% Other Indo-European 3% 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: ▼ -187.92%
• Current HPI: 235.0929
• Rent YoY: ▲ 5.98%
• 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

+226.1% since first listed

6 events — show timeline

• 2026-05-14 Listed $225,000 METROMLS
• 2021-01-12 Sold (Public Records) $81,000 Public Records
• 2021-01-08 Sold (MLS) $81,000 METROMLS
• 2020-12-06 Contingent — METROMLS
• 2020-12-02 Listed $84,900 METROMLS
• 1996-07-01 Sold (Public Records) $69,000 Public Records

Property tax history

+2.4%/yr

Latest (2025): $2,233 · +5.6% YoY. Source: county tax records.