2016 Kinzie Ave · Racine, WI 53405

$335,000

None bd · 5.0 ba · 3,819 sqft · MultiFamily public records · 5 Days on market

Built 1910 5,662 sqft lot Est $336k · at est.

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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 +26.0/30.0
• DSCR +8.7/10.0
• ARV discount +7.6/15.0
• 1% rule +7.4/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Hard to find, 5 unit investment building! All 5 units are 1 bedroom & 1 bath in rent ready condition. 4 units currently rented @ $2,771mo. #1 - $600/mo - MTM. #2 - $700/mo lease ends 6/30/23. #3 - $800/mo lease ends 12/2/23. #4 - $671/mo - MTM. #5-Vac. Market rents $4,000-$4,250/mo (800-850 per unit). Private entrances & storage locker for each tenant. 4-5 parking spaces in back of building. Boiler installed 2 years ago. Unit currently on fuses but will be upgraded to circuit breakers prior to closing. Tenants currently paying electric. Owner paying heat(boiler) & water.

Key facts

• Full baths
• Functional kitchens
• Original woodwork

Tags

• ORIGINAL WOODWORK
• ABUNDANT NATURAL LIGHT
• FUNCTIONAL KITCHENS
• FULL BATHS
• SEPARATE ENTRANCES
• REAR ACCESS

Property features AI

Finance

• Other: Stoves included (see addendum); Seller and tenants retain personal property (excluded)
• Financial info: Five-unit building

Exterior

• Parking: Outdoor parking; Inside parking available
• Utilities: Municipal water; Municipal sewer
• Home design: Multi-family property; Apartment building; 3–4 stories
• Construction: Less than 1/2 acre lot; Zoning: R3
• Exterior features: Aluminum/steel exterior; Brick/stone exterior

Interior

• Kitchen: Refrigerators included (see addendum)
• Heating & cooling: Hot water/steam heating
• Interior features: Walk-out/outer door basement
• Laundry & utility: Water heater (seller owned); Boiler included (see addendum)

What this means for you Summary

Snapshot

• This is a ?-bed/5.0-bath multifamily listed at $335k.

Deal economics

• At list price, monthly cash flow is $834 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $335k).
• Cap rate 9.3% 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: 45 active listings in the ZIP; 505 units permitted in Racine County in 2024 (287 in 5+ unit buildings).
• At $4,142/mo this rent would consume 72% of the median local household income ($69k/yr) (locally 430% 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 $10k 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.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 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 $245k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $335,000

Questions for the listing agent

1. Built in 1910 — 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. 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.
5. 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.
6. 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: 1.24% ✓
• Cap rate: 9.28%
• Cash-on-cash: 10.67%
• DSCR: 1.47
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $336,072
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2016 Kinzie Ave	0.00mi	—/—	3,819 (0%)	1mo	$336,000	$88	99
1302 Quincy Ave	0.71mi	—/—	3,717 (-3%)	6mo	$250,000	$67	57
1100 Valley Dr	0.47mi	—/—	3,432 (-10%)	6mo	$330,000	$96	56

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: -0.3%
• Equity multiple: 0.99×
• Total profit: $-1,027
• Equity at exit: $49,950

10-year hold

• IRR: 9.4%
• Equity multiple: 1.73×
• Total profit: $68,067
• Equity at exit: $28,965

Cash invested: $93,800 (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 53405

• Active inventory: 45
• Price-to-rent: 20.2×

Monthly cashflow live

• Estimated rent: $4,142 high
• Mortgage (P&I): −$1,757
• Tax from tax record: −$542 /mo · $6,502/yr
• Insurance: −$140
• HOA: −$0
• Vacancy / Maint / Mgmt: −$870
• Net cashflow: $834

Break-even live

Break-even rent $3,086

Max offer price $335,000

Occupancy floor 75%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$4,143
Total (3 units)			$4,142

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: $83,750
• Closing costs: $10,050
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-05-12
   status Pending
2. 2026-05-07
   listed $335,000 Active
3. 2026-05-02
   historical $850
4. 2026-02-25
   listed $850
5. 2026-02-17
   historical $850
6. 2026-01-31
   listed $850
7. 2023-09-18
   soldstatus $245,000
8. 2023-09-15
   soldstatus $245,000 Sold 595-char remark

   Show marketing remark (595 chars)

   Hard to find, 5 unit investment building! All 5 units are 1 bedroom & 1 bath in rent ready condition. 4 units currently rented @ $2,771mo. #1 - $600/mo - MTM. #2 - $700/mo lease ends 6/30/23. #3 - $800/mo lease ends 12/2/23. #4 - $671/mo - MTM. #5-Vac. Market rents $4,000-$4,250/mo (800-850 per unit). Private entrances & storage locker for each tenant. 4-5 parking spaces in back of building. Boiler installed 2 years ago. Unit currently on fuses but will be upgraded to circuit breakers prior to closing. Tenants currently paying electric. Owner paying heat(boiler) & water.

9. 2023-07-21
   status Pending 595-char remark

   Show marketing remark (595 chars)

   Hard to find, 5 unit investment building! All 5 units are 1 bedroom & 1 bath in rent ready condition. 4 units currently rented @ $2,771mo. #1 - $600/mo - MTM. #2 - $700/mo lease ends 6/30/23. #3 - $800/mo lease ends 12/2/23. #4 - $671/mo - MTM. #5-Vac. Market rents $4,000-$4,250/mo (800-850 per unit). Private entrances & storage locker for each tenant. 4-5 parking spaces in back of building. Boiler installed 2 years ago. Unit currently on fuses but will be upgraded to circuit breakers prior to closing. Tenants currently paying electric. Owner paying heat(boiler) & water.

10. 2023-06-09
    listed $250,000 Active 595-char remark

    Show marketing remark (595 chars)

    Hard to find, 5 unit investment building! All 5 units are 1 bedroom & 1 bath in rent ready condition. 4 units currently rented @ $2,771mo. #1 - $600/mo - MTM. #2 - $700/mo lease ends 6/30/23. #3 - $800/mo lease ends 12/2/23. #4 - $671/mo - MTM. #5-Vac. Market rents $4,000-$4,250/mo (800-850 per unit). Private entrances & storage locker for each tenant. 4-5 parking spaces in back of building. Boiler installed 2 years ago. Unit currently on fuses but will be upgraded to circuit breakers prior to closing. Tenants currently paying electric. Owner paying heat(boiler) & water.

11. 2023-06-02
    soldstatus $450,000
12. 2017-01-03
    soldstatus $600,000
13. 2012-10-05
    historical 213-char remark

    Show marketing remark (213 chars)

    Attention investors! Good cash flow with this nice 5-unit multi-family with maintenance-free exterior and off street parking. Newer boiler and laundry facility in basement. All units have been cleaned and painted.

14. 2012-10-05
    listed $197,500 213-char remark

    Show marketing remark (213 chars)

    Attention investors! Good cash flow with this nice 5-unit multi-family with maintenance-free exterior and off street parking. Newer boiler and laundry facility in basement. All units have been cleaned and painted.

15. 2012-10-05
    historical

    Show marketing remark (213 chars)

    Attention investors! Good cash flow with this nice 5-unit multi-family with maintenance-free exterior and off street parking. Newer boiler and laundry facility in basement. All units have been cleaned and painted.

16. 2012-10-05
    listed $179,900

    Show marketing remark (213 chars)

    Attention investors! Good cash flow with this nice 5-unit multi-family with maintenance-free exterior and off street parking. Newer boiler and laundry facility in basement. All units have been cleaned and painted.

17. 2012-10-03
    listed $197,500
18. 2012-10-03
    historical
19. 2005-09-09
    soldstatus $150,000

ⓘ 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: $6,502 · $542/mo
• Projected year-2 tax: $6,502 · $542/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥95°F today · 13 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: $49,704
• − Mortgage interest: −$18,765
• − Property taxes: −$6,502
• − Insurance: −$1,675
• − Repairs & maintenance: −$3,976
• − Management: −$3,976
• − Depreciation: −$9,745
• Taxable income: $5,064
• Est. tax owed @ 24.0%: −$1,215
• After-tax cash flow: $8,793/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): 26,793
• Household income: $69,242
• Rent vs Own: 23.7% rent · 76.3% own
• Severe rent burden: 430.0

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 0.56)
• Race & ethnicity: White 63% Hispanic / Latino 17% Two or more races 15% Black 12% Asian 1%
• Hispanic origin (detail): Mexican 15% Puerto Rican 1%
• Common ancestry: Romanian 7% Portuguese 4% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 91% English-only · Spanish 7% German/W. Germanic 1%

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: ▼ -220.43%
• Current HPI: 189.5192
• Rent YoY: —
• 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

+123.3% since first listed

19 events — show timeline

• 2026-05-12 Pending — METROMLS
• 2026-05-07 Listed $335,000 METROMLS
• 2026-05-02 Rental Removed $850 BUILDIUM
• 2026-02-25 Listed for Rent $850 BUILDIUM
• 2026-02-17 Rental Removed $850 BUILDIUM
• 2026-01-31 Listed for Rent $850 BUILDIUM
• 2023-09-18 Sold (Public Records) $245,000 Public Records
• 2023-09-15 Sold (MLS) $245,000 METROMLS
• 2023-07-21 Pending — METROMLS
• 2023-06-09 Listed $250,000 METROMLS
• 2023-06-02 Sold (Public Records) $450,000 Public Records
• 2017-01-03 Sold (Public Records) $600,000 Public Records
• 2012-10-05 Listed $197,500 METROMLS
• 2012-10-05 Listing Removed — METROMLS
• 2012-10-05 Listed $179,900 METROMLS
• 2012-10-05 Listing Removed — METROMLS
• 2012-10-03 Listing Removed — METROMLS
• 2012-10-03 Listed $197,500 METROMLS
• 2005-09-09 Sold (Public Records) $150,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $6,502 · +10.0% YoY. Source: county tax records.