6810 23rd Ave · Kenosha, WI 53143

$225,000

4 bd · 2.0 ba · 1,350 sqft · MultiFamily public records · 109 Days on market

Built 1895 6,098 sqft lot $167/sqft · 26% above area Est $179k · 26% 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 +25.0/30.0
• DSCR +8.1/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Great for owner occupied or investor. This property offers a solid investment opportunity with consistent rental income and long-term upside. Upper rent is $1100 MTM, Lower rent is $1100 MTM. Half of garage is rented for $100 for long term

Key facts

• 6,098 sq ft lot
• 2 garage spots
• Built 1895

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $225k.

Deal economics

• At list price, monthly cash flow is $488 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $205k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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 23d 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 45% 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 109 days — a 9% lower offer ($205k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 14y 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 $135k; list at $225k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $204,750 (9.0% below list)

Questions for the listing agent

1. It's been on market 109 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1895 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 8.90%
• Cash-on-cash: 9.30%
• DSCR: 1.41
• GRM: 7.4

CMA / ARV

• ARV (median comp): $179,246
• List price: $225,000
• Delta: 25.53%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2428 71st St	0.19mi	4/2.0	1,344 (-0%)	20mo	$190,000	$141	74
6617 18th Ave	0.36mi	4/2.0	1,408 (+4%)	20mo	$160,000	$114	59
6218 32nd Ave	0.73mi	4/2.0	1,304 (-3%)	21mo	$205,000	$157	43
6046 31st Ave	0.74mi	3/2.0 (-1)	1,477 (+9%)	3mo	$212,000	$144	42
1610 76th St	0.65mi	4/2.0	1,532 (+14%)	9mo	$250,000	$163	40

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: -2.2%
• Equity multiple: 0.92×
• Total profit: $-5,339
• Equity at exit: $33,548

10-year hold

• IRR: 7.5%
• Equity multiple: 1.56×
• Total profit: $35,462
• 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 53143

• Active inventory: 35
• Price-to-rent: 14.8×

Monthly cashflow live

• Estimated rent: $2,537 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$242 /mo · $2,906/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$533
• Net cashflow: $488

Break-even live

Break-even rent $1,919

Max offer price $225,000

Occupancy floor 76%

Sensitivity live

Price	-10% $616	-5% $552	+0% $488	+5% $425	+10% $361
Rent	-10% $288	-5% $388	+0% $488	+5% $589	+10% $689
Rate	-1.0pp $602	-0.5pp $546	base $488	+0.5pp $430	+1.0pp $371

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,538
Total (2 units)			$2,537

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 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	44d	1	0.65mi
5807 20th Ave Unit 2 Kenosha, WI	3.0	1.0	1064	$2,400	$2.26	19d	1	0.70mi
1510 57th St Unit 2 Kenosha, WI	4.0	2.0	1700	$1,800	$1.06	44d	1	0.87mi
5432 23rd Ave Kenosha, WI	4.0	2.0	1400	$1,695	$1.21	4d	1	0.91mi
2708 48th St Kenosha, WI	4.0	2.0	1200	$2,500	$2.08	22d	1	1.47mi

Listing history 36 events

1. 2026-06-18
   days on market $225,000 Active 109 DOM
2. 2026-06-17
   days on market $225,000 Active 108 DOM
3. 2026-06-16
   days on market $225,000 Active 107 DOM
4. 2026-06-15
   days on market $225,000 Active 106 DOM
5. 2026-06-13
   days on market $225,000 Active 104 DOM
6. 2026-06-09
   days on market $225,000 Active 100 DOM
7. 2026-06-08
   days on market $225,000 Active 99 DOM
8. 2026-06-07
   days on market $225,000 Active 98 DOM
9. 2026-06-04
   days on market $225,000 Active 95 DOM
10. 2026-06-03
    days on market $225,000 Active 94 DOM
11. 2026-06-02
    days on market $225,000 Active 93 DOM
12. 2026-06-01
    days on market $225,000 Active 92 DOM
13. 2026-05-31
    days on market $225,000 Active 91 DOM
14. 2026-03-07
    price $225,000 239-char remark

    Show marketing remark (239 chars)

    Great for owner occupied or investor. This property offers a solid investment opportunity with consistent rental income and long-term upside. Upper rent is $1100 MTM, Lower rent is $1100 MTM. Half of garage is rented for $100 for long term

15. 2026-03-06
    status Active 239-char remark

    Show marketing remark (239 chars)

    Great for owner occupied or investor. This property offers a solid investment opportunity with consistent rental income and long-term upside. Upper rent is $1100 MTM, Lower rent is $1100 MTM. Half of garage is rented for $100 for long term

16. 2026-02-18
    status Pending 239-char remark

    Show marketing remark (239 chars)

    Great for owner occupied or investor. This property offers a solid investment opportunity with consistent rental income and long-term upside. Upper rent is $1100 MTM, Lower rent is $1100 MTM. Half of garage is rented for $100 for long term

17. 2026-02-13
    listed $235,000 Active 239-char remark

    Show marketing remark (239 chars)

    Great for owner occupied or investor. This property offers a solid investment opportunity with consistent rental income and long-term upside. Upper rent is $1100 MTM, Lower rent is $1100 MTM. Half of garage is rented for $100 for long term

18. 2021-01-25
    soldstatus $135,000
19. 2020-07-13
    soldstatus $135,000 Sold 238-char remark

    Show marketing remark (238 chars)

    Great investment property or owner occupied 2 unit!! Both units in good condition. Tenants have all been there at least 4 years and would love to stay longer. Half the garage is also rented out for $50 per month extra. Great money maker!!

20. 2020-06-05
    historical Contingent 238-char remark

    Show marketing remark (238 chars)

    Great investment property or owner occupied 2 unit!! Both units in good condition. Tenants have all been there at least 4 years and would love to stay longer. Half the garage is also rented out for $50 per month extra. Great money maker!!

21. 2020-06-02
    price $134,900 238-char remark

    Show marketing remark (238 chars)

    Great investment property or owner occupied 2 unit!! Both units in good condition. Tenants have all been there at least 4 years and would love to stay longer. Half the garage is also rented out for $50 per month extra. Great money maker!!

22. 2020-05-27
    listed $139,900 Active 238-char remark

    Show marketing remark (238 chars)

    Great investment property or owner occupied 2 unit!! Both units in good condition. Tenants have all been there at least 4 years and would love to stay longer. Half the garage is also rented out for $50 per month extra. Great money maker!!

23. 2013-05-28
    soldstatus $66,500
24. 2013-05-22
    listed $69,500
25. 2013-05-22
    soldstatus $66,500
26. 2013-03-06
    listed $74,900
27. 2013-03-06
    historical
28. 2012-10-09
    listed $89,000
29. 2012-10-09
    historical
30. 2012-10-09
    historical
31. 2012-10-09
    listed $147,500
32. 2012-10-09
    historical
33. 2012-10-09
    listed $98,000
34. 2012-10-09
    listed $124,900
35. 2012-10-09
    historical
36. 1990-11-01
    soldstatus $38,000

ⓘ 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: $2,906 · $242/mo
• Projected year-2 tax: $3,534 · $295/mo
• Expected delta: +$628/yr (+$52/mo · 21.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 10% 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: $30,444
• − Mortgage interest: −$12,603
• − Property taxes: −$2,906
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,436
• − Management: −$2,436
• − Depreciation: −$6,545
• Taxable income: $2,393
• Est. tax owed @ 24.0%: −$574
• After-tax cash flow: $5,286/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

+492.1% since first listed

23 events — show timeline

• 2026-03-07 Price Changed $225,000 METROMLS
• 2026-03-06 Relisted — METROMLS
• 2026-02-18 Pending — METROMLS
• 2026-02-13 Listed $235,000 METROMLS
• 2021-01-25 Sold (Public Records) $135,000 Public Records
• 2020-07-13 Sold (MLS) $135,000 METROMLS
• 2020-06-05 Contingent — METROMLS
• 2020-06-02 Price Changed $134,900 METROMLS
• 2020-05-27 Listed $139,900 METROMLS
• 2013-05-28 Sold (Public Records) $66,500 Public Records
• 2013-05-22 Listed $69,500 METROMLS
• 2013-05-22 Sold (MLS) $66,500 METROMLS
• 2013-03-06 Listing Removed — METROMLS
• 2013-03-06 Listed $74,900 METROMLS
• 2012-10-09 Listing Removed — METROMLS
• 2012-10-09 Listed $89,000 METROMLS
• 2012-10-09 Listed $147,500 METROMLS
• 2012-10-09 Listing Removed — METROMLS
• 2012-10-09 Listed $98,000 METROMLS
• 2012-10-09 Listing Removed — METROMLS
• 2012-10-09 Listing Removed — METROMLS
• 2012-10-09 Listed $124,900 METROMLS
• 1990-11-01 Sold (Public Records) $38,000 Public Records

Property tax history

+4.4%/yr

Latest (2025): $2,906 · +6.5% YoY. Source: county tax records.