2009 Slauson Ave · Racine, WI 53403

$219,900

5 bd · 2.0 ba · 2,328 sqft · MultiFamily public records · 73 Days on market

Built 1920 4,356 sqft lot $94/sqft · 33% above area Est $166k · 33% 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 +24.6/30.0
• DSCR +7.9/10.0
• 1% rule +6.6/10.0
• Rent growth +4.0/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• 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

SMART INVESTMENT OPPORTUNITY! Own this spacious 2/1, 3/1 brick duplex in the heart of Racine! This well-sized property offers generous living space in both units, making it ideal for owner-occupants and investors alike. Each unit features large living areas, comfortable bedrooms, and functional layouts that provide plenty of room to spread out. Enjoy separate entrances and ample natural light thru-out, creating a welcoming feel in each unit. The property also offers a rear yard, perfect for outdoor enjoyment, entertaining, or added tenant appeal. Off-street parking adds convenience for residents. Whether you're looking to generate rental income or live in one unit while renting out the other, this is a fantastic opportunity you won't want to miss!

Key facts

• 4,356 sq ft lot
• Garage
• Built 1920

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $220k.

Deal economics

• At list price, monthly cash flow is $454 ($5k/yr) — positive. Per door: $227/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $220k).
• Recommended offer: $207k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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; 505 units permitted in Racine County in 2024 (287 in 5+ unit buildings).
• At $2,548/mo this rent would consume 51% of the median local household income ($60k/yr) (locally 1164% 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.
• 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 $62k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $108k; list at $220k implies a 104% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $206,706 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% 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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.16% ✓
• Cap rate: 8.77%
• Cash-on-cash: 8.84%
• DSCR: 1.39
• GRM: 7.2

CMA / ARV

• ARV (median comp): $165,742
• List price: $219,900
• Delta: 32.68%
• 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
1613 Taylor Ave	0.13mi	4/2.0 (-1)	2,336 (+0%)	0mo	$180,000	$77	88
1636 S Memorial Dr	0.22mi	5/2.0	2,532 (+9%)	4mo	$85,000	$34	71
1634 Washington Ave	0.21mi	5/2.0	2,116 (-9%)	11mo	$90,000	$43	66
1653 Holmes Ave	0.30mi	4/2.0 (-1)	2,268 (-3%)	15mo	$150,000	$66	65
1528 Flett Ave	0.34mi	4/2.0 (-1)	2,226 (-4%)	10mo	$162,000	$73	64
2912 Wright Ave	0.57mi	5/2.0	2,425 (+4%)	5mo	$274,500	$113	63
1844 Taylor Ave #1846	0.43mi	6/2.0 (+1)	2,438 (+5%)	7mo	$190,000	$78	61
2501 17th St	0.33mi	5/2.0	2,100 (-10%)	14mo	$160,000	$76	56
1813 Clayton Ave	0.74mi	6/2.0 (+1)	2,200 (-6%)	6mo	$180,000	$82	46
1817 Grange Ave	0.49mi	4/2.0 (-1)	2,040 (-12%)	8mo	$170,000	$83	45
1422 Racine St	0.50mi	6/2.0 (+1)	2,182 (-6%)	22mo	$125,000	$57	43
1641 Quincy Ave	0.51mi	4/2.0 (-1)	2,120 (-9%)	17mo	$210,000	$99	42

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: 0.3%
• Equity multiple: 1.01×
• Total profit: $808
• Equity at exit: $32,788

10-year hold

• IRR: 12.8%
• Equity multiple: 2.15×
• Total profit: $70,731
• Equity at exit: $19,013

Cash invested: $61,572 (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 53403

• Rents YoY: 5.8%
• Active inventory: 91
• Price-to-rent: 14.4×

Monthly cashflow live

• Estimated rent: $2,548 high
• Mortgage (P&I): −$1,153
• Tax from tax record: −$314 /mo · $3,774/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$535
• Net cashflow: $454

Break-even live

Break-even rent $1,974

Max offer price $219,900

Occupancy floor 77%

Sensitivity live

Price	-10% $578	-5% $516	+0% $454	+5% $391	+10% $329
Rent	-10% $252	-5% $353	+0% $454	+5% $554	+10% $655
Rate	-1.0pp $564	-0.5pp $510	base $454	+0.5pp $397	+1.0pp $339

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,548
Total (2 units)			$2,548

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $219,900 Active 73 DOM
2. 2026-06-18
   days on market $219,900 Active 72 DOM
3. 2026-06-17
   days on market $219,900 Active 71 DOM
4. 2026-06-16
   days on market $219,900 Active 70 DOM
5. 2026-06-15
   days on market $219,900 Active 69 DOM
6. 2026-06-14
   days on market $219,900 Active 67 DOM
7. 2026-06-13
   days on market $219,900 Active 66 DOM
8. 2026-06-10
   days on market $219,900 Active 64 DOM
9. 2026-06-09
   days on market $219,900 Active 63 DOM
10. 2026-06-08
    days on market $219,900 Active 62 DOM
11. 2026-06-07
    days on market $219,900 Active 61 DOM
12. 2026-06-05
    days on market $219,900 Active 58 DOM
13. 2026-06-03
    days on market $219,900 Active 57 DOM
14. 2026-06-02
    days on market $219,900 Active 56 DOM
15. 2026-06-01
    days on market $219,900 Active 55 DOM
16. 2026-05-31
    days on market $219,900 Active 54 DOM
17. 2026-05-30
    days on market $219,900 Active 53 DOM
18. 2026-04-07
    listed $229,900 Active 757-char remark

    Show marketing remark (757 chars)

    SMART INVESTMENT OPPORTUNITY! Own this spacious 2/1, 3/1 brick duplex in the heart of Racine! This well-sized property offers generous living space in both units, making it ideal for owner-occupants and investors alike. Each unit features large living areas, comfortable bedrooms, and functional layouts that provide plenty of room to spread out. Enjoy separate entrances and ample natural light thru-out, creating a welcoming feel in each unit. The property also offers a rear yard, perfect for outdoor enjoyment, entertaining, or added tenant appeal. Off-street parking adds convenience for residents. Whether you're looking to generate rental income or live in one unit while renting out the other, this is a fantastic opportunity you won't want to miss!

19. 2021-03-19
    soldstatus $108,000
20. 2000-10-11
    soldstatus $80,000

ⓘ 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: $3,774 · $314/mo
• Projected year-2 tax: $3,921 · $327/mo
• Expected delta: +$147/yr (+$12/mo · 3.9%)

ⓘ 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: $30,576
• − Mortgage interest: −$12,318
• − Property taxes: −$3,774
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,446
• − Management: −$2,446
• − Depreciation: −$6,397
• Taxable income: $2,095
• Est. tax owed @ 24.0%: −$503
• After-tax cash flow: $4,940/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

+187.4% since first listed

3 events — show timeline

• 2026-04-07 Listed $229,900 METROMLS
• 2021-03-19 Sold (Public Records) $108,000 Public Records
• 2000-10-11 Sold (Public Records) $80,000 Public Records

Property tax history

+3.0%/yr

Latest (2025): $3,774 · +15.4% YoY. Source: county tax records.