6621 18th Ave · Kenosha, WI 53143

$208,000

4 bd · 2.0 ba · 1,408 sqft · MultiFamily public records · 50 Days on market

Built 1912 4,356 sqft lot $148/sqft · 17% above area Est $178k · 17% 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 +25.5/30.0
• DSCR +8.4/10.0
• 1% rule +6.3/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• 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

Solid investment opportunity in Kenosha! This multi-unit property features one occupied unit providing immediate income, with additional potential for value-add or owner-occupancy. Spacious layout, separate entrances, and functional floor plan offer flexibility for investors or owner-occupants alike. Convenient location near shopping, dining, and commuter routes. Whether you're looking to expand your portfolio or get started in real estate investing, this property presents a strong opportunity with upside potential.

Key facts

• 4,356 sq ft lot
• Built 1912
• Listed 50 days

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/?-bath units multifamily listed at $208k.

Deal economics

• At list price, monthly cash flow is $484 ($6k/yr) — positive. Per door: $242/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $208k).
• Recommended offer: $202k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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: 35 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 259 units permitted in Kenosha County in 2024 (8 in 5+ unit buildings).
• This rent runs 41% of the median local income ($68k/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 $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $124k; list at $208k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $201,760 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 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 1912 — 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: 1.13% ✓
• Cap rate: 9.09%
• Cash-on-cash: 9.98%
• DSCR: 1.44
• GRM: 7.4

CMA / ARV

• ARV (median comp): $178,127
• List price: $208,000
• Delta: 16.77%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6617 18th Ave	0.01mi	4/2.0	1,408 (0%)	20mo	$160,000	$114	83
6914 22nd Ave	0.35mi	3/2.0 (-1)	1,603 (+14%)	4mo	$171,777	$107	52
2428 71st St	0.53mi	4/2.0	1,344 (-4%)	20mo	$190,000	$141	51
6824 21st Ave	0.27mi	3/2.0 (-1)	1,560 (+11%)	20mo	$215,000	$138	48
1610 76th St	0.66mi	4/2.0	1,532 (+9%)	9mo	$250,000	$163	47
1706 59th St	0.55mi	3/2.0 (-1)	1,342 (-5%)	18mo	$130,000	$97	46
7005 13th Ave #7007	0.40mi	3/2.0 (-1)	1,583 (+12%)	13mo	$225,000	$142	45
6710 29th Ave	0.71mi	4/2.0	1,558 (+11%)	6mo	$215,000	$138	44
6028 12th Ave	0.50mi	4/2.0	1,534 (+9%)	22mo	$135,000	$88	44
904 72nd St	0.57mi	3/2.0 (-1)	1,612 (+14%)	13mo	$229,900	$143	34

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: -1.3%
• Equity multiple: 0.95×
• Total profit: $-2,874
• Equity at exit: $31,013

10-year hold

• IRR: 8.4%
• Equity multiple: 1.64×
• Total profit: $37,189
• Equity at exit: $17,984

Cash invested: $58,240 (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 53143

• Active inventory: 35
• Price-to-rent: 14.7×

Monthly cashflow live

• Estimated rent: $2,353 high
• Mortgage (P&I): −$1,091
• Tax from tax record: −$197 /mo · $2,368/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$494
• Net cashflow: $484

Break-even live

Break-even rent $1,740

Max offer price $208,000

Occupancy floor 74%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	—	$2,352
Total (2 units)			$2,353

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: $52,000
• Closing costs: $6,240
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1809 60th St Kenosha, WI	3.0	1.0	1100	$1,500	$1.36	43d	1	0.45mi
5807 20th Ave Unit 2 Kenosha, WI	3.0	1.0	1064	$2,400	$2.26	18d	1	0.55mi
1510 57th St Unit 2 Kenosha, WI	4.0	2.0	1700	$1,800	$1.06	43d	1	0.63mi
5432 23rd Ave Kenosha, WI	4.0	2.0	1400	$1,695	$1.21	3d	1	0.83mi
2708 48th St Kenosha, WI	4.0	2.0	1200	$2,500	$2.08	21d	1	1.44mi

Listing history 17 events

1. 2026-06-18
   days on market $208,000 Active 50 DOM
2. 2026-06-17
   days on market $208,000 Active 49 DOM
3. 2026-06-16
   days on market $208,000 Active 48 DOM
4. 2026-06-15
   pricedays on market $208,000 Active 47 DOM
5. 2026-06-13
   days on market $218,000 Active 45 DOM
6. 2026-06-09
   days on market $218,000 Active 41 DOM
7. 2026-06-08
   days on market $218,000 Active 40 DOM
8. 2026-06-07
   days on market $218,000 Active 39 DOM
9. 2026-06-04
   days on market $218,000 Active 36 DOM
10. 2026-06-03
    days on market $218,000 Active 35 DOM
11. 2026-06-02
    days on market $218,000 Active 34 DOM
12. 2026-06-01
    days on market $218,000 Active 33 DOM
13. 2026-05-31
    days on market $218,000 Active 32 DOM
14. 2026-04-29
    listed $218,000 Active 521-char remark

    Show marketing remark (521 chars)

    Solid investment opportunity in Kenosha! This multi-unit property features one occupied unit providing immediate income, with additional potential for value-add or owner-occupancy. Spacious layout, separate entrances, and functional floor plan offer flexibility for investors or owner-occupants alike. Convenient location near shopping, dining, and commuter routes. Whether you're looking to expand your portfolio or get started in real estate investing, this property presents a strong opportunity with upside potential.

15. 2026-04-14
    historical $218,000 521-char remark

    Show marketing remark (521 chars)

    Solid investment opportunity in Kenosha! This multi-unit property features one occupied unit providing immediate income, with additional potential for value-add or owner-occupancy. Spacious layout, separate entrances, and functional floor plan offer flexibility for investors or owner-occupants alike. Convenient location near shopping, dining, and commuter routes. Whether you're looking to expand your portfolio or get started in real estate investing, this property presents a strong opportunity with upside potential.

16. 2005-08-26
    soldstatus $124,500
17. 2005-05-27
    soldstatus $124,500 125-char remark

    Show marketing remark (125 chars)

    Very well cared for, plus many recent updates make this 2 unit a great investment. Tenants pay all utilities including water.

ⓘ 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: $2,368 · $197/mo
• Projected year-2 tax: $3,108 · $259/mo
• Expected delta: +$740/yr (+$62/mo · 31.3%)

ⓘ 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: $28,236
• − Mortgage interest: −$11,651
• − Property taxes: −$2,368
• − Insurance: −$1,040
• − Repairs & maintenance: −$2,259
• − Management: −$2,259
• − Depreciation: −$6,051
• Taxable income: $2,608
• Est. tax owed @ 24.0%: −$626
• After-tax cash flow: $5,183/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): 20,889
• Household income: $68,343
• Rent vs Own: 40.9% rent · 59.1% own
• Severe rent burden: 813.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 59% Hispanic / Latino 21% Two or more races 18% Black 11% Asian 1%
• Hispanic origin (detail): Mexican 16% Puerto Rican 2%
• Common ancestry: Romanian 6% Portuguese 5% Lithuanian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 89% English-only · Spanish 10% Chinese 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: ▼ -220.75%
• Current HPI: 229.2067
• Rent YoY: —
• 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

+75.1% since first listed

4 events — show timeline

• 2026-04-29 Listed $218,000 METROMLS
• 2026-04-14 Coming Soon $218,000 METROMLS
• 2005-08-26 Sold (Public Records) $124,500 Public Records
• 2005-05-27 Sold (MLS) $124,500 METROMLS

Property tax history

+2.7%/yr

Latest (2025): $2,368 · +5.6% YoY. Source: county tax records.