4608 39th Ave · Kenosha, WI 53144

$199,900

3 bd · 1.0 ba · 864 sqft · SingleFamily public records · 4 Days on market

Built 1964 7,405 sqft lot Est $226k · 12% under

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Why this score? — see what drove the D+ 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 +14.8/30.0
• ARV discount +12.8/15.0
• DSCR +4.5/10.0
• Livability +4.2/5.0
• 1% rule +3.6/10.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Fixer-upper with great potential! This 3-bedroom, 1-bath home offers 864 sq ft, a 2-car garage, and a nice yard with plenty of possibilities. With some TLC and the right vision, this property could truly shine. Being sold as-is.

Key facts

• 7,405 sq ft lot
• 2 garage spots
• Built 1964

Property features AI

Finance

• Other: Property type zoning: RG-1

Exterior

• Parking: Detached 2-car garage with opener
• Utilities: Municipal water; Municipal sewer
• Home design: Single-family, 1-story home; Less than 1/2 acre lot
• Construction: Aluminum/steel exterior; Year built: public/assessor records
• Exterior features: Aluminum/steel exterior

Interior

• Kitchen: Microwave; Oven/Range; Refrigerator
• Bedrooms: Master bedroom (Main) — 11 x 10; Bedroom 2 (Main) — 10 x 11; Bedroom 3 (Main) — 8 x 9
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air; Window/Wall AC; Natural gas heating
• Interior features: Full basement; Shower stall
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $55 ($659/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $172k (13.8% below list).
• Recommended offer: $172k (13.8% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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-.
• 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.
• Zoned schools: Strange Elementary (math 12% / reading 22%, grade F, #885 of 1,041 statewide, top 86%, 431 students, 79% FRL); Mahone Middle (math 30% / reading 41%, grade F, #200 of 383 statewide, top 53%, 933 students, 43% FRL); Bradford High (math 11% / reading 21%, grade F, #412 of 483 statewide, top 85%, 1,389 students, 66% FRL) — zoned schools average 63% FRL vs 45% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 66 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 259 units permitted in Kenosha County in 2024 (8 in 5+ unit buildings).

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

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $172,349 (13.8% below list)

Questions for the listing agent

1. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.86% ✗
• Cap rate: 6.62%
• Cash-on-cash: 1.18%
• DSCR: 1.05
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $226,368
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4906 44th Ct	0.35mi	3/1.0	888 (+3%)	10mo	$233,000	$262	71
4113 31st Ave	0.59mi	3/1.0	864 (0%)	3mo	$229,900	$266	70
4033 32nd Ave	0.60mi	3/1.0	884 (+2%)	2mo	$265,000	$300	67
5518 40th Ave	0.58mi	3/2.0	876 (+1%)	4mo	$175,000	$200	63
4608 Pershing Blvd	0.26mi	2/1.0 (-1)	974 (+13%)	7mo	$235,000	$241	56
5601 44th Ave	0.68mi	3/1.0	936 (+8%)	2mo	$250,000	$267	52
4416 31st Ave	0.48mi	2/1.0 (-1)	768 (-11%)	3mo	$190,000	$247	52
2717 45th St	0.69mi	2/1.0 (-1)	828 (-4%)	5mo	$170,000	$205	52
3914 31st Ave	0.70mi	2/1.0 (-1)	848 (-2%)	12mo	$175,000	$206	49
5503 44th Ave	0.63mi	3/2.0	902 (+4%)	13mo	$268,000	$297	49
5409 40th Ave	0.51mi	2/1.0 (-1)	742 (-14%)	12mo	$255,000	$344	38
5419 35th Ave	0.59mi	2/2.0 (-1)	960 (+11%)	12mo	$241,500	$252	35

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: -14.4%
• Equity multiple: 0.48×
• Total profit: $-28,915
• Equity at exit: $29,806

10-year hold

• IRR: -5.7%
• Equity multiple: 0.63×
• Total profit: $-20,756
• Equity at exit: $17,284

Cash invested: $55,972 (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 53144

• Active inventory: 66
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,723 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$175 /mo · $2,101/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$362
• Net cashflow: $55

Break-even live

Break-even rent $1,654

Max offer price $199,900

Occupancy floor 92%

Sensitivity live

Price	-10% $168	-5% $111	+0% $55	+5% $-2	+10% $-58
Rent	-10% $-81	-5% $-13	+0% $55	+5% $123	+10% $191
Rate	-1.0pp $156	-0.5pp $106	base $55	+0.5pp $3	+1.0pp $-50

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4802 34th Ave Kenosha, WI	3.0	1.0	905	$1,750	$1.93	45d	1	0.29mi
4048 29th Ave Kenosha, WI	3.0	1.0	980	$2,375	$2.42	45d	1	0.69mi
4042 Washington Rd Kenosha, WI	1.0–2.0	1.0	730	$1,400	$1.92	5d	8	0.73mi
4051 28th Ave Unit 2 Kenosha, WI	2.0	1.0	900	$1,250	$1.39	14d	1	0.76mi
4812 25th Ave Kenosha, WI	2.0	1.0	760	$995	$1.31	26d	1	0.85mi
3529 30th Ave Unit B3 Kenosha, WI	2.0	1.0	1020	$1,675	$1.64	45d	1	0.97mi
5103 24th Ave Kenosha, WI	2.0	1.0	980	$1,095	$1.12	6d	1	0.98mi
5912 50th Ave Kenosha, WI	2.0	1.0	900	$1,325	$1.47	26d	1	1.07mi
5912 50th Ave Kenosha, WI	2.0	1.0	900	$1,325	$1.47	45d	1	1.07mi
5912 50th Ave Kenosha, WI	2.0	1.0	900	$1,325	$1.47	6d	1	1.07mi
5414 58th Ave Unit 18 Kenosha, WI	2.0	1.0	850	$1,150	$1.35	26d	1	1.22mi
5414 58th Ave Unit 8 Kenosha, WI	2.0	1.0	760	$1,300	$1.71	1d	1	1.22mi
5414 58th Ave Apt 2 Kenosha, WI	3.0	1.0	950	$1,465	$1.54	20d	1	1.22mi
4610 17th Ave Kenosha, WI	2.0	1.0	800	$1,250	$1.56	9d	1	1.31mi
2614 63rd St #2 Kenosha, WI	2.0	1.0	900	$1,295	$1.44	26d	1	1.35mi
5807 20th Ave Unit 1 Kenosha, WI	2.0	1.0	1064	$2,000	$1.88	20d	1	1.44mi
5807 20th Ave Unit 2 Kenosha, WI	3.0	1.0	1064	$2,400	$2.26	20d	1	1.44mi

Listing history 1 events

1. 2026-05-20
   listed $199,900 Active

ⓘ 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: $2,101 · $175/mo
• Projected year-2 tax: $2,899 · $242/mo
• Expected delta: +$799/yr (+$67/mo · 38.0%)

ⓘ 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 ≥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: $20,682
• − Mortgage interest: −$11,198
• − Property taxes: −$2,101
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,655
• − Management: −$1,655
• − Depreciation: −$5,815
• Taxable loss: −$2,740
• Est. tax savings @ 24.0%: +$658
• After-tax cash flow: $1,317/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): 26,652
• Household income: $76,507
• Rent vs Own: 44.4% rent · 55.6% own
• Severe rent burden: 1084.0

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: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 18% Two or more races 12% Black 10% Asian 3%
• Hispanic origin (detail): Mexican 13% Puerto Rican 2%
• Common ancestry: Romanian 5% Portuguese 4% Italian 2%
• Foreign-born: 9% · Canada
• Languages at home: 84% English-only · Spanish 12% Other Asian/Pacific 1% Russian/Polish/Slavic 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: ▼ -144.10%
• Current HPI: 238.1217
• 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

1 event — show timeline

• 2026-05-20 Listed $199,900 METROMLS

Property tax history

+1.0%/yr

Latest (2025): $2,101 · +6.1% YoY. Source: county tax records.